Bike Bags Market Future Outlook, COVID-19 Impact Analysis, Forecast - 2031

The global bike bag market is anticipated to grow at a CAGR of 6.3% during the forecast period. Bike bags fit under the bicycle seat and usually attach to the rails of the saddle itself. Larger models can carry a few extra items while traveling. There are lots of options, with cycling-specific backpacks offering plenty of capacity and stability in the market. Many cycling packs are lightweight, waterproof, and feature a roll-top for easy opening. Many packs, such as the Ortlieb Velocity, come in multiple color options too, or in patterned fabrics. While road trips, bike packing bags assist in carrying stuff such as a sleeping bag, spare clothing, and a bivvy sack. The bike bag market growth is backed by the increasing inclination of people toward outdoor recreational activities such as cycling, camping, hiking, and others.

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Since the COVID-19 pandemic, demand for bicycles has increased due to the closure of gyms and swimming pools in many regions. Some nations rewarded the purchase of new bikes or bike maintenance expenditures in a bid to encourage ridership during the pandemic. Italy, for instance, allocated $250 million toward a cash-back Programme through which Italian residents who purchased a vehicle without an engine such as a bicycle were eligible for a $590 stipend, while France has established a similar Programme. This has increased people to adopt bicycles along with accessories such as bags. Apart from these, rising heightened anxiety over public transportation and a surge in exercise has meant that more and more people are choosing to use one of the most basic forms of mobility such as biking, which in turn led to the product demand.

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Segmental Outlook

The global bike bag market is segmented based on the material type, design, and distribution channel. Based on the material type, the market is sub-segmented into polyester, fabric, leather, and others. Among these, the leather segment is likely to hold a lucrative share in the market during the forecast period. Leather is considered an excellent material for making products for bikes due to its durability, and sturdiness, and can withstand almost any type of weather, and features. This versatility makes them for many people the best way to carry more gear.

Based on the design, the market is classified into panniers, handlebars, saddles, trunks, frames, and others. Among these, the panniers segment is projected to show the fastest growth in the market. Panniers are a utilitarian solution for carrying luggage. Such type of bike bags takes the complete luggage weight and provides comfort to biker by reducing the burden on their shoulders. In addition, these bags also allow a rider to carry far more in terms of both weight and volume compared to using a backpack. Owing to these benefits, the demand for pannier bags is high, and it is further expected to increase during the forecast period. Based on the distribution channel, it is further sub-segmented into online and offline.

Regional Outlook

Geographically, the global bike bag market is classified into major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Europe is predicted to show impressive growth in the market due to rapid growth in cycling culture in the region's major economies. In Finland, 60% population was reported to use bicycles in 2019. Moreover, almost a quarter of the Dutch population cycles every day. Altogether the Dutch own 22.5 million bicycles. This means that on average they own 1.3 bicycles per capita in 2018. In addition, people in Netherland also take part in various cycling events and tournaments which creates demand for high-end bike bags.

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