USD 19.2 billion
Report ID: SQSG25K2002 | Region: Global | Published Date: October, 2022 | Pages: 157 | Tables: 64 | Figures: 64
Backpack Market was valued at USD 19.2 billion in 2021, and it is expected to reach a value of USD 25.8 billion by 2028, at a CAGR of more than 6.4% over the forecast period (2022-2028).
Backpacks have several compartments that can be used to carry items around and are used to carry stuff. Due to handbags' limited capacity for carrying heavy loads, backpacks are more frequently used by hikers and students than handbags while transporting heavy equipment and cargo. Nylon and ultra-strong nylon materials are used to make the straps on backpacks. Polyester and nylon are the two most well-known fabrics for backpacks. Heavy textiles like canvas, which may be used for a long time, can also be utilized to make durable bags. Although it increases the cost of the bag, leather can also be utilized to build them.
Many backpacks are designed with travel in mind, and over the past several years, participation in adventure sports and other leisure activities has significantly increased, fueling the Backpack market's expansion.
US Backpack Market is poised to grow at a sustainable CAGR for the next forcast year.
Global Market Size
USD 19.2 billion
more than 6.4% CAGR
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The Global Backpack Market is segmented based on the Material Type, Distribution Channel, and region. Based on the Material Type, the Global Backpack Market is segmented as Nylon, Polyester, and Other. Based on Distribution Channel, the Global Backpack Market is segmented as online retail, supermarkets, specialty stores, and other. Based on Region Backpack Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Backpack Market Analysis by Material Type
Based on the Material Type, the backpack market is bifurcated into nylon, polyester, and other. Nylon segment had highest Backpack Market share in 2021. During the anticipated period, the polyester is anticipated to see the fastest CAGR. An artificial polymer that is commonly made from petroleum is nylon, also referred to as thermoplastic. It is smooth, light, and strong. Additionally, it is a flexible fiber that can be altered into any pattern or shape by adding a delustering chemical while it is still in the molten state. Because of the material's greater flexibility, these backpacks can comfortably accommodate heavy loads of luggage. Additionally, it is a flexible fibre that can be altered into any pattern or shape by adding a delustering chemical while it is still in the molten state. These Backpacks can comfortably accommodate heavy loads of luggage. Additionally, the cloth may easily return to its previous state without creases or wrinkles because to the product's great flexibility. In most cases, excessive stretching causes the fibres of the material to thin down and soften while still maintaining their strength. The rucksacks' water resistance and low absorption rate of nylon make them perfect for use in tropical environments. Since the fabric is smooth, filth does not adhere to the surface of the nylon rucksacks, making them simple to clean.
Backpack Market Analysis by Distribution Channel
Based on Distribution Channel the backpack market is segmented into online retail, supermarkets, specialty stores, and other. The specialty stores category held the biggest Backpack Market share, and throughout the projection period, the online retail segment is anticipated to grow at the fastest rate. Because they provide specialized product categories with a broader variety than supermarkets, specialty stores are among the most important distribution channels for trekking backpack market players. People choose to purchase trekking backpacks from specialty shops because of their strong brand loyalty. To draw clients and keep a steady stream of customers, the specialty retailers run promotional programs. These establishments typically have prominent retail sites, such as malls and shopping centers, and they employ merchandising strategies to give customers a comprehensively satisfying shopping experience.
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North America is expected to control the backpack market share in 2021. This demand is predicated on the fact that these nations have strong educational infrastructures and broad acceptance of schoolbags in the US and Canada, Strong operations of major sporting goods and luggage manufacturers like Adidas and Nike in the area are another positive aspect of the Backpack Market in North America. Due to several improvements in the industry to produce backpacks with enhanced quality and efficiency, the market for backpacks in the Asia Pacific region is anticipated to experience considerable growth. Additionally, the need for backpacks to carry the equipment securely while lightening the strain on shoulders is being fuelled by the rising popularity of sports and leisure activities that improve total well-being. Over the next few years, the development of the worldwide backpack market is anticipated to be aided by manufacturers' increasing focus on producing sophisticated, intelligent backpacks and the region's expanding urban population. The demand for backpacks among working professionals in the area is projected to increase as the working population and employment both grow.
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Backpack Market Driver
Backpack Market Restraint
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The Global Backpack market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive Backpack market. In order to provide industries with the most effective and economical solutions, the major Backpack market players are also continually concentrating on R&D.
Backpack Market Top Player's Company Profiles
Backpack Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Backpack Market Analysis, in terms of material type, the polyester segment held the largest share and is estimated to maintain a similar trend over the forecast period as it is smooth, strong, and flexible in nature. In terms of distribution channel, specialty stores accounted for a maximum market share followed by online retail because of customer loyalty broader variety of backpacks to choose from.
|Market size value in 2021||USD 19.2 billion|
|Market size value in 2028||USD 25.8 billion|
|Growth Rate||more than 6.4%|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Backpack Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Backpack Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Backpack Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Product ID: SQSG25K2002