Waterproof Bags Market - Global Industry Analysis, Size, Share, Trends, Forecast 2024

The increasing market of gadgets and devices is leading to the rise in demand for their protective covers and bags, thereby boosting growth of the global waterproof bags market. The increasing interest of people in water sports, such as river rafting, is aligning them to use waterproof bags for their devices, a factor which is further contributing to the growth of the global waterproof bags market currently. Waterproof bags are affordable and, these days, are easily available in different sizes and shapes depending on the device requirement. Also, the light weight and portable nature of these bags is making them more and more popular among the users, thereby driving their market growth globally. Waterproof bags are made up of plastic, rubber, or its derivatives, and these materials are not environment friendly. Also, these materials cannot be decomposed easily, thus creating environmental concerns among the consumers. This factor could hamper growth of the global waterproof bags market over the forecast period.

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Its affordable cost and the flexibility that it offers are the two major factors expected to create various growth opportunities for the global waterproof bags market over the forecast period. Growing applications of waterproof bags, such as for canoeing and kayaking, are also making it more popular among consumers. The new versions of waterproof bags, such as Hefty Slider bag, Lavod waterproof bag, and Seattle Sports waterproof bag are marking new uses of these bags. An excellent growth potential is projected for the waterproof bags market in the future, and the market is expected to expand at a modest CAGR over the forecast period. The global waterproof bags market has witnessed significant growth in developed regions until now and, in the coming years, is anticipated to grow at steady pace in the developing nations as well.

The global waterproof bags market is segmented on the basis of materials used, application, and end- use industries. On the basis of materials used, the global waterproof bags is segmented into silicone elastomers, polyurethane, Polyvinylchloride (PVC), rubber, and wax. By application, the global waterproof bags is segmented into packing products, river rafting, laptop bags, school bags, trekking, mobile bags, camera bags, and others. By end-use industry, the global waterproof bags is segmented into marine, defense, packaging, electronics, and others.

By geography, the global waterproof bags market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Currently, North America accounts for the highest share of the global waterproof bags market, owing to highly grown electronics sector in the region. Europe is the second largest contributor to the growth of the global waterproof bags market, driven by the increased number of travelers and beach crowd in the region. Asia Pacific also accounts for a significant share of the global waterproof bags market due to the developing packaging industry and increase in consumer interest in water sports in the region. Latin America and the Middle East and Africa markets are still at a nascent stage and are anticipated to exhibit a considerable growth potential over the forecast period.

Some of the key players in the global waterproof bags market market are Jinjiang Jiaxing Company, Sealock Outdoor Gear Co. Ltd, Shenzhen Socoole Technology Co. Ltd, 4U Sporting Goods Co., Ltd, Maysky Bags Co. Ltd, Guangzhou JQX Industrial Co., Limited, Huian Mingzhou Light Industry Bags Co., Ltd, Quanzhou Hoosam Bags Co. Ltd, Yiwu Global Bag Co., Ltd, and Ningbo Clover Textile Co. Ltd.

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