Backpack Market By Product Type (Travel, Hiking, Work and Others), Material (Nylon, Polyester & Others), and Distribution Channel (Offline & Online), and Region - Market Perspective, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast for 2023 - 2032
Market Perspective
The global Backpack Market generated a revenue of around USD 16.67 billion in 2022 and the market size is projected to reach a valuation of USD 30.42 billion by 2032 at a CAGR of around 6.2% between 2023 and 2032.
The backpack market is expected to grow steadily in the forecast period due to the resumption of business and leisure travel after the covid-19 pandemic. Backpacks offer convenience and comfort to consumers compared to trolley bags, making them a popular choice for commuting. The design, sturdiness, comfort, and utility of backpacks vary depending on the intended activity, such as long-distance travel, hiking, or daily use.
Materials used in backpack production include nylon and polyester, with different types of bags requiring different fabrics. Designs also vary based on customer trends and demands, with travel backpacks being more comfortable for recreational activities, and office backpacks featuring compartments for accessories. The backpack is not limited to travel or work but also covers educational and daily purposes.
Key Insights
- Based on product type, the travel segment held the largest market share
- Based on material, the nylon segment dominated the market
- Based on distribution channel, the offline segment generated the highest revenue
- On the basis of region, Asia Pacific accounted for the largest market share
Mobile Lifestyle Adoption to Offer Lucrative Growth Opportunities for Backpack Market
As a result of individuals' increasingly active lifestyles, the backpack market is poised for growth. The trend toward mobility has led to a higher demand for backpacks with advanced technical features. This is because backpacks provide a convenient and comfortable way to carry essential items during work-related travel and leisure activities.
The growth in the market is also being driven by rapid urbanization, which has created new opportunities for manufacturers to offer a diverse range of products. The focus on customer-centric development is also playing a key role in the growth of the market. This approach involves listening to customer needs and designing products that cater to those needs. As a result, manufacturers are able to offer backpacks that are not only functional but also meet the specific needs of different activities such as travel, hiking, and daily use.
Easy Availability of Counterfeit Products to Challenge Market Growth
Counterfeit backpacks are often made with inferior materials and construction, making them less durable and reliable than genuine products. This not only results in a poor user experience but can also pose a safety risk, particularly in outdoor activities like hiking or camping. Furthermore, counterfeit backpacks can negatively impact the environment, as they are often produced in unregulated factories with little regard for environmental standards.
In addition to the impact on consumers and the environment, counterfeit backpacks also harm legitimate businesses and the wider economy. The sale of counterfeit products reduces revenue for legitimate brands, which can limit their ability to invest in research and development, marketing, and other activities that drive the backpack market growth.
To combat counterfeiting and protect consumers, governments around the globe are enforcing intellectual property rights and penalizing those who engage in counterfeiting. In the last few years, it has been observed that consumers are also taking steps to ensure they are purchasing authentic products, such as purchasing from authorized retailers, examining the product for signs of counterfeiting, and researching the brand to ensure it is reputable.
Recent Developments
In September 2022: ABS an avalanche backpack company was acquired by Edelrid Group. The acquisition aimed at expanding business boundaries in Germany.
In November 2021: Helen of Troy (HoT), a goods-holding firm signed a binding agreement to acquire Osprey.
Segmentation Analysis
In 2022, travel backpacks dominated the global market due to their superior utility compared to other products. The compact design, high carrying capacity, and ease of access for accessories make travel backpacks highly sought after. Innovative design upgrades, such as a compartment for electronics, have further boosted demand. The rise in remote work and travel, especially a 21% increase in the travel industry in 2021 after lifting restrictions, has made travel backpacks a popular choice for multi-functional use.
Based on material, backpacks manufactured using nylon as fabric dominated the backpack market due to the fabric’s strong properties. Nylon is water resistant in nature and is certifiably a rugged material thus reducing the maintenance of the fabric. nylon is renowned for its damage-bearing capabilities. The versatile and adaptive quality of nylon drives up the material demand for manufacturing backpacks
Offline channels, including supermarkets, malls, and specialty stores, dominated the backpack market due to the availability of a wider range of products under one roof. Consumers still prefer to physically inspect products in stores, despite the trend towards online channels. These offline channels are conveniently located in residential areas, making it easy for consumers to access them.
Regional Landscape
North America dominated the backpack market with a 33% share of the revenue. This was due to a rise in domestic and international travel, as well as increasing disposable income and travel trends. The availability of infrastructure and raw materials for backpack manufacturing also contributed to the region's market dominance. The travel backpack segment generated the highest revenues in the U.S. due to evolving travel trends.
The Asia Pacific region showed impressive growth in 2022 and is expected to be the fastest-growing market in the forecast period. The resumption of the travel industry, new travel trends such as work trips, road trips, and solo trips, and increasing demand for efficient backpacks are driving the region's growth. The presence of many travel destinations and growing business hubs are also contributing to the APAC backpack market share.
Europe has shown steady progress in the backpack industry, but a low population density is hindering significant growth. Nevertheless, all the information regarding market share and growth should be considered to have a comprehensive understanding of the global market.
Competitive Landscape
- Adidas AG
- American Tourister
- Dakine IP Holdings LP.
- Deuter Sport GmbH
- OSPREY PACKS
- Patagonia, Inc.
- Safari Bags
- SAMSONITE IP HOLDINGS S.ÀR.L.
- VF Corporation
- Wildcraft
The global backpack market is segmented as follows:
By Product Type
- Travel
- Hiking
- Work
By Material
- Nylon
- Polyester
- Others
By Distribution Channel
- Offline
- Online
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Reunion
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Backpack Market By Product Type
- February-2023
- 148
- Global
- retail
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