Backpack Market 2024 - Industry Size, Business Segments, Innovative Strategies And Outlook by 2033

The new report published by The Business Research Company, titled ""Backpack Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the backpack market size has grown strongly in recent years. It will grow from $19.57 billion in 2023 to $20.69 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The backpack market size is expected to see strong growth in the next few years. It will grow to $25.87 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.

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Surging Travel And Recreational Activities Fuel Growth In The Backpack Market
Increasing travel and recreational activities are expected to propel the growth of the backpack market going forward. Recreation encompasses all 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 backpacks of different shapes and volumes. For instance, according to the World Tourism Organization, a Spain-based international tourism promotion organization, Global tourism increased by 4% in 2021 compared to 2020. (415 million versus 400 million). Europe and the Americas outperformed the rest of the world in 2021 (+19% and +17%, respectively). The economic contribution of tourism in 2021 (measured in tourism direct gross domestic product) is estimated at US$1.9 trillion, above US$1.6 trillion in 2020, but still well below the pre-pandemic value of US$ 3.5 trillion. Therefore, increasing travel and recreational activities are driving the growth of the backpack market.

The Rising Trend Of Smart Technology Integration In The Backpack Market
Integration of smart technology is the key trend gaining popularity in the backpack market. 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. When their children's backpacks (and, by extension, their children) enter or exit one of the pre-defined areas, the app will send a message alert to the parents. Parents will also receive a bag usage report via the app, which will check a child's location in Realtime and beam it over to the parents via the app.

The backpack market covered in this report is segmented -

1) By Type: Work Bags, Sports and Recreation Bags, Travel Bags, Other Types
2) By Material: Cotton, Leather, Nylon, Other Materials
3) By Distribution Channel: Supermarket or Hypermarket, Convenience Stores, Online Stores, Other Distribution Channels
4) By End-Use: Commercial, Individual, Other End-Uses

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Major companies operating in the backpack market report are Nike Inc., Adidas AG, Everest Trading Corp., VF Outdoor LLC, Under Armour Inc., Columbia Sportswear Company, Samsonite International S.A., L.L.Bean Inc., Eddie Bauer LLC, The North Face Inc., Arc'teryx Equipment Inc., V.I.P. Industries Limited, Mammut Sports Group AG, Patagonia Inc., Vaude Sport GmbH & Co. KG, Marmot Mountain LLC, Black Diamond Equipment Ltd., Herschel Supply Company Ltd., Osprey Packs Inc., Wildcraft India Private Limited, Wenger SA, Dakine IP Holdings LLC, Sierra Designs, Mystery Ranch Ltd., Mountainsmith LLC, Gregory Mountain Products LLC, Kelty Inc., JanSport Inc., Deuter Sport GmbH, Lowe Alpine International Sàrl, Tatonka GmbH, Fjällräven International AB, Haglöfs AB, GREGORY PACKS INC., Granite Gear LLC, CamelBak Products LLC, Thule Group AB, Victorinox AG, Kipling USA, Timbuk2 Designs Inc., OGIO International Inc., High Sierra Sport Company

Contents of the report:
1. Executive Summary
2. Backpack Market Report Structure
3. Backpack Market Trends And Strategies
4. Backpack Market - Macro Economic Scenario
5. Backpack Market Size And Growth
…..
27. Backpack Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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