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Backpacks Market Overview
Backpacks Market size is estimated to reach $23.4 billion by
2027, growing at a CAGR of 2.6% during the forecast period 2022-2027. Backpacks also
termed knapsacks, schoolbags, rucksacks, rucksacs, packs, sackpacks, booksacks,
bookbags or backsacks. Backsacks include fabric sacks carried on one's back and fastened
with two straps that go over the shoulders, however, they can have an external
frame, internal frame and there are bodypacks. Backpacks are normally utilized
by hikers and students and are frequently preferred to handbags for carrying
heavy loads or carrying any kind of machinery, owing to the restricted capacity
to carry heavy weights for long periods of time in the hands. Nylon is a water-resistant
material and therefore backpacks are prepared with nylon material. Presently,
waterproof backpacks are recognized across the world. Polyester backpacks are available
for sale online on websites like flipkart. There are travel backpacks available
for men and for women. There are travel bags available for sale online on
websites like Myntra. The kind of travel bag selected relies on the kind of
travel, the destination and other factors. Applying heat transfer vinyl (HTV) to backpacks needs around
10 seconds of law heat and medium pressure. The minimal quantity of heat, pressure and time is aimed at
when putting HTV on thermal lunch boxes and backpacks. Backpacks were once regarded as casual
and suited only for travel or for students who were required to carry books by the
kilos. However, as
offices turn more mobile with laptops and assorted gadgetry (chargers, tabs,
power banks and mobile phones), backpacks have evolved into the goto work bags.
The Backpacks Industry falls within the Bags and Luggage Industry.
The mobile lifestyles of an increasing count of customers
coupled with the surging inclination of people to spend time outdoors without
returning home before nightfall is set to drive the Backpacks Market. The advent
of adventure sports and recreational activities are set to propel the growth of
the Backpacks Industry during the forecast period 2022-2027. This represents
the Backpacks Industry Outlook.
Report Coverage
The “Backpacks Market Report - Forecast
(2022-2027)” by Industry ARC, covers an in-depth analysis of the following
segments in the Backpacks
Market.
Key Takeaways
- Geographically, North America (Backpacks market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the surging product demand attributed to the increasing count of travellers preferring lightweight and compact backpacks and travel bags in the North American region.
- Backpacks Market growth is being driven by the soaring demand for backpacks and travel bags from men and women across distinct regions worldwide and the heightening recognition of outdoor activities. However, while living out of a backpack makes travelling light, it limits the quantity of items that can be packed resulting in user dissatisfaction which is one of the major factors hampering the growth of Backpacks Market.
- Backpacks Market Detailed Analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Backpacks Market report.
Backpacks Market: Market Share (%) By Region, 2021
Backpacks Market Segment Analysis - By Type
The Backpacks Market based on type can be
further segmented into Work Bags, Sports And Recreation Bags, Travel
Bags. The Work Bags Segment held the largest Backpacks
market share in 2021. This growth is owing to the heightening application of work
bags by the employed workforce worldwide. Work bags are available for both men
and women with work backpacks varying in size from tiny student bags to big
hiking and military bags, principally being made of tough fabric and polyester.
The extensive availability of work bags of sufficient shelf size is further
propelling the growth of the Work Bags segment.
Furthermore, the Travel Bags segment
is estimated to grow with the fastest CAGR of 3.4% during the forecast period
2022-2027 owing to the soaring application of travel backpacks by most
travellers and the surging inclination towards versatile travel backpacks by
frequent business travellers and outdoor enthusiasts.
Backpacks Market Segment Analysis - By Material
The Backpacks Market based on
material can be further segmented into Cotton, Leather, Nylon, Others. The Nylon Sand egment held the largest Backpacks
market share in 2021. This growth is owing to the surging
application of waterproof backpacks made of nylon material by users worldwide. There
are also backpacks made of polyester, which is cheap. Nylon backpacks are
available as Type 6 Nylon (a low tenacity of 3–6 g/D) or Type 66 Nylon (a high
tenacity of 6–9.5 g/D). Type 6 is the most typically used in backpacks. The high
durability and strength against external pressure and the shiny and slick characteristic
of nylon material are further propelling the growth of this segment.
Furthermore, the Cotton
segment is estimated to grow with the fastest CAGR of 4.1% during
the forecast period 2022-2027 owing to the extensive application of cotton bags
which are made of 100% cotton and
therefore entirely eco-friendly, natural, economical, reuseable and
bio-degradable.
Backpacks Market Segment Analysis - By Geography
The Backpacks Market based on
geography can be further segmented into North America, Europe, Asia-Pacific,
South America and Rest of the World. North America (Backpacks Market) held the
largest Backpacks market share with 35% of the overall market in 2021. This
growth is owing to the presence of key players like The North Face in the U.S., in the
North American region. Travel bags, work bags and backpacks form a regular part
of luggage during travel. The surging school infrastructural facilities in
countries like U.S. and Canada leading to soaring consumption of school
backpacks is further propelling the growth of the Backpacks Industry in the North
American region.
Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like the soaring application of work bags including work backpacks by the surging employed workforce in South East Asia and South Asia regions in the Asia-Pacific region. Backpacks are fabric sacks in their simplest form. Backpacks may be made up of materials like nylon or polyester. The existence of key players like Nike, Adidas and Samsonite is further fuelling the progress of the Backpacks Industry in the Asia-Pacific region.
Backpacks
Market Drivers
Surging Advantages of Backpacks are Projected to Drive the Growth of Backpacks Market:
Backpacks are quite likely the ideal bag for just about anyone. They are lightweight, smooth and convenient and they are great for daily application. No matter what is required to be carried, from books and laptop to camera machinery, clothing, lunch or gym gear, a backpack will make the task that much more effortless. In fact, travel experts from all over the world suggest utilizing a backpack owing to their capability to make travelling more effortless and a lot more fun. A high-quality backpack is an asset for everyone – be it an athlete or student or professional or traveller. Backpacks may be made up of materials like Nylon or Polyester. Work bags may include work backpacks that may involve USB connections to charge or utilize electronic devices at the time of travel. A quality backpack may be a fabric sack which will have adequate room to carry vital essentials and sufficient pockets and compartments to assist in staying organised all through the day. Backpacks turn carrying around everything from books to clothing and other essentials more comfortable. No matter what is being carried around in the backpack, or how much it measures, it will be much more effortless and more secure. A backpack allows to carry the belongings securely. Most backpacks are waterproof, lightweight and flexible, being made of nylon and they offer maximum protection for the products within them. Backpacks utilize two soft, padded shoulder straps to distribute weight more evenly and they can be carried for long periods of time without enduring discomfort. Backpacks are trendy and it appears that a good quality backpack will never go out of style Backpacks are fabulously convenient owing to their providing access to the items effortlessly and with very less effort. When the most critical gear for camping is carried, the backpack needs to weigh about 24 lbs (inclusive of sleeping, cooking and camping equipment; plus hydration). Another way is to compute 20% of the body weight – this would be the utmost one may carry. The surging advantages of Backpacks are therefore fuelling the growth of the Backpacks Market during the forecast period 2022-2027.
Soaring Innovations are Expected to Boost the Growth of the Backpacks Industry:
Backpacks are fabric sacks and may be prepared of materials like nylon or polyester. The latest travel bags may include backpacks and duffel bags. Sierra Designs has developed the Flex gusset which permits the packs to expand from 40-60 liters. This allows the user to pack the flex however one wishes to owing to the ack always being the correct size. The 4 gusset straps need just to be utilized to adjust size and volume abd there is then available to the user an ideally customized pack for the present load. Adjustable volume is greater than just the compression of a bigger pack. With the Flex packs, the complete pack expands/diminishes in size and volume, instead of just being squashed down. This permits to adjust the size of the pack to the load to guarantee a stable carry, instead of depending on compression to keep up shape. And if required, there is always the added compression straps, too. A central aluminium hub and 3 segregated stays permit the Y-Flex DAC suspension to comfortably carry any load. The Y-Flex accumulates lightweight backing to the Flex Capacitor and lets the lightweight bag hit above its weight class with comfortable carry. These kinds of soaring innovations are therefore driving the growth of the Backpacks Industry, thereby contributing to the Backpacks Industry Outlook during the forecast period 2022-2027.
Backpacks Market Challenges
Limitations of Backpacks Including Muscle Strains are Hampering the Growth of the Backpacks Market:
Presently, backpacks, travel bags and work bags are being greatly utilized. Backpacks may be made of materials like nylon or polyester. Backpacks in their simplest form are fabric sacks. Heavy contents can raise health hazards for students by placing surplus strain on growing bones and muscles. Every year, thousands of students visit emergency rooms for treatment of backpack-connected injuries, inclusive of muscle strains and spasms of the back and neck. Increasing concerns have prompted certain schools to initiate weigh-ins to conclude whether backpack loads are enormous for stature of students. Health experts discourage carrying backpacks weighing greater than 10 to 20 percent of the weight of the student. These issues are thus hampering the growth of the Backpacks Market.
Backpacks Industry Outlook
Novel product launches, mergers and acquisitions, collaborations, partnerships, expansions and financing in R&D are key strategies adopted by players in the Backpacks Market. The top 10 companies in the Backpacks market are:
- Puma
- Reebok
- Fastrack
- Toshiba Corporation
- The North Face
- Nike Inc.
- Swiss Gear
- Deuter
- Samsonite International S.A.
- Polestar
Recent Developments
- In July 2022, Deuter, the global leader in backpacks and outdoor equipment, boosted its alpine and hike backpack assortment for Summer 2023, delivering innovative, trustworthy and sustainably generated outdoor goods. The novel collection includes the all-novel Vertrail and Durascent for the high alpine, the redesigned Guide for climbing and the refreshed Trail for hiking. The novel Vertrail 16 ($210) waterproof backpack from Deuter is produced for mountaineers who accept any speedy mountain challenge and want to guarantee secure and dry gear in all conditions.
- In March 2022, Authentic Brands Group (ABG) declared that it has finished the acquisition of Reebok from Adidas. As it leads in its biggest acquisition to date, the global brand development, marketing and entertainment firm is plotting a novel path for Reebok. With Reebok, ABG is taking a page from its playbook, linking powerful brands with best-in-class partners and a global network of operators, distributors and retailers to optimize value in the marketplace.
- In December 2021, NIKE, Inc. declared the acquisition of RTFKT, a leading brand that influences cutting-edge innovation to deliver next-generation collectables that merge culture and gaming. Founded in 2020, by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT is a pioneering and innovative brand that reformulates the borders of physical and digital value to help its broad community of creators. This committed team influences the most recent in-game engines, NFTs, blockchain authentication and augmented reality to develop one-of-a-kind virtual products and experiences. This concludes the Backpacks Industry Outlook.
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