Backpack Global Market 2023 : By Size, Expected Growth Rate, Major Drivers And Forecast To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Backpack Global Market Report 2023 identifies increasing travel and recreational activities as the major driver for the Backpack market's growth in the forecast period. Recreation encompasses all of the activities that people engage in to refresh their bodies and minds and make their leisure time more interesting and enjoyable. Tourists frequently use backpacks to transport their belongings when visiting other countries, not only for pleasure but also for business which increases the demand for the backpack of different shapes and volumes.

The global backpack market size is expected to grow from $18.56 billion in 2022 to $19.60 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global backpack market is expected to grow to $23.96 billion in 2027 at a CAGR of 5.1%.

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Major competitors in the Backpack market are Under Armour Inc., Nike Inc., Adidas AG, Dakine IP Holdings LP, Samsonite IP Holdings S.àr.l., VF Outdoor LLC, V.I.P.

A key trend in the Backpack market includes integration of smart technology. Major companies operating in the market are integrating innovative technologies with backpacks including Bluetooth, GPS, USB ports, mobile apps, and others to sustain their position in the market. For instance, in January 2022, Huawei Technologies Co Ltd., a China-based infrastructure and smart devices provider in information and communications technology (ICT), launched a smart school bag. Huawei has included an LCD, smart scheduling capabilities, and GPS connectivity in the school bag to track children's movements. The Huawei 9um Smart Positioning Children's School Bag is a smart school bag that supports the Huawei Smart Life App and HarmonyOS Connect.

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The Backpack market is segmented -

• By Type: Work Bags, Sports and Recreation Bags, Travel Bags, Other Types
• By Material: Cotton, Leather, Nylon, Other Materials
• By Distribution Channel: Supermarket or Hypermarket, Convenience Stores, Online Stores, Other Distribution Channels
• By End-Use: Commercial, Individual, Other End-Uses
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Backpack market.

The Business Research Company's "Global Backpack Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Backpack Market Include:

1. Executive Summary
2. Backpack Market Characteristics
3. Backpack Market Trends And Strategies
4. Backpack Market - Macro Economic Scenario
5. Backpack Market Size And Growth
………………………….
26. Africa Backpack Market
27. Backpack Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Backpack Market
29. Backpack Market Future Outlook and Potential Analysis
30. Appendix

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