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Active Backpack Market Size, Emerging Trends, Growth Rate, Business Opportunities And Forecast To 2033
Active Backpack Market
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According to The Business Research Company's, The active backpack market size has grown strongly in recent years. It will grow from $5.88 billion in 2023 to $6.39 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to increased urbanization and travel, increased prevalence of hiking and outdoor activities, advances in material science and manufacturing processes, increased disposable income of urban residents, increased focus on health and fitness.
The active backpack market size is expected to see strong growth in the next few years. It will grow to $9.07 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to rising emphasis on health, increasing emphasis on eco-friendly and sustainable materials, booming e-commerce sector, rise of niche markets, growing global connectivity and accessibility. Major trends in the forecast period include integration of smart and connected features, innovative price point segmentation, rise in customization and personalization of active backpacks, active backpacks designed for multi-functionality and versatility, backpacks designed for people with disabilities or specific physical limitations.
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Market Drivers and Trends:
The increasing recreational activities are expected to propel the growth of the active backpack market going forward. Recreational activities refer to leisure activities that are performed outside, usually in natural environments. Active backpacks are versatile and can be used during recreational activities, including hiking, camping, travelling, cycling, running, and jogging. For instance, in January 2022, according to the Outdoor Industry Association, a US-based non-profit organization, in 2021, 164.2 million, or 54% of Americans aged six and older, reported engaging in outdoor recreation at least once. Since March 2020, the outdoor participation base has increased by 6.9%. A net increase of 3.5 million more people participated in outdoor activity in 2021. Additionally, a record 6.8 million Americans participated in outdoor activities for the first time in 2021. Therefore, increasing recreational activities are driving the growth of the active backpack market.
Product innovation has emerged as a key trend gaining popularity in the active backpack market. Major market players are focusing on creating innovative products to strengthen their position in the active backpack market. For instance, in May 2021, Yuru Camp Anime, a Japanese manga series written and illustrated by Afro, and the Japanese backpack manufacturer collaborated to create the Yurucamp Ispack Backpack Field Chair. This backpack is the real-life counterpart of the Yurucamp folding field chair featured in the anime. This backpack has a detachable, folding field chair and is perfect for brief rests when trekking long distances. The bag has a 25L capacity and several front pockets to store the required trekking gear. At the top of the bag, the chair's collapsible bars combine and unfold to create plush seats. The hybrid backpack field chair, which is burnt orange with baby-blue accents, can support 220 lbs.
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Major Key Players of the Market:
Nike Inc., Adidas AG, VF Corporation, Puma SE, Under Armour Inc., Columbia Sportswear Company, Samsonite IP Holdings S.AR.L, The North Face, Arcteryx, Jack Wolfskin, Patagonia Inc.209.1, CamelBak Products LLC, Herschel Supply Co., V.I.P. Industries Limited, JanSport Inc., Kelty, Ogio, Deuter Sport GmbH, Nomatic LLC, Tortuga Backpacks, Mountainsmith, WANDRD Gear, Aer Designs LLC, Eume World, Peak Design, Wildcraft India Private Limited, Dakine IP Holdings LP, Mystery Ranch Backpacks, Matein Backpack, Xiangxing (Fujian) Bag & Luggage Group Co. Ltd.
Active Backpack Market 2024 Key Insights:
• The active backpack market size is expected to see strong growth in the next few years. It will grow to $9.07 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%.
• Surge In Recreational Activities Fuels Growth Of Active Backpack Market
• Key Player Collaborations For Product Innovation Enhance The Active Backpack Market Growth
• North America was the largest region in the active backpack market in 2023
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