The Backpack Market was appraised at USD 16.3 Billion in 2022. Looking ahead, the industry is expected to expand from USD 17.8 Billion in 2023 to USD 36.2 Billion by 2032, demonstrating a compound annual growth rate (CAGR) of 9.30% over the forecast period from 2023 to 2032.
In the domain of portable storage solutions, the Backpack Market shines as a hub of practicality and fashion, catering to the varied requirements of travelers, commuters, and students. These adaptable carriers have transcended their basic functions, now integrating ergonomic designs with inventive features to elevate convenience and ease. From rugged packs tailored for outdoor adventures to sleek urban designs crafted for metropolitan living, the market presents a diverse array of choices to suit every lifestyle and taste. Emphasizing durability, organization, and visual appeal, backpack brands continually innovate, pushing the boundaries of design and technology to meet the ever-changing needs of contemporary consumers. With urbanization and outdoor activities on the rise, the Backpack Market remains primed for ongoing expansion, offering limitless opportunities for exploration and personal expression on the move.
Key Companies in the Backpack market include
- Adidas AG (Germany)
- Under Armor Inc. (U.S.)
- Patagonia Inc. (U.S.)
- Puma SE (Germany)
- Wildcraft (India)
- Samsonite IP Holdings S.AR.L (Hong Kong)
- Dakine Inc. (U.S.)
- Deuter Sport GmbH (Germany)
- Moët Hennessy Louis Vuitton (LVMH) (France)
- Safari (India)
Key questions answered in the report:
- Which are the five top players of the Backpack market?
- How will the Backpack market change in the next five years?
- Which product and application will take a lion’s share of the Backpack market?
- What are the drivers and restraints of the Backpack market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the Backpack market throughout the forecast period?
Backpack Industry Developments
January 2023:A collection of travel accessories, including a backpack, luggage, micro crossbody bag, expandable bag, pouch bag, and three-piece baggage tag set, was introduced by BTS and Samsonite together.
March 2022:Warrior unveiled a backpack with features like several compartments, a security pocket, a TSA-approved lock, and others that is built for the changing digital lifestyle of people.
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America (United States, Mexico & Canada)
- South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Research Methodology
The report has its roots definitely set in thorough strategies provided by proficient data analysts. The research methodology involves the collection of information by analysts only to have them studied and filtered thoroughly in an attempt to provide significant predictions about the market over the review period. The research process further includes interviews with leading market influencers, which makes the primary research relevant and practical. The secondary method gives a direct peek into the demand and supply connection. The market methodologies adopted in the report offer precise data analysis and provide a tour of the entire market. Both primary and secondary approaches to data collection have been used. In addition to these, publicly available sources such as annual reports, and white papers have been used by data analysts for an insightful understanding of the market.
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Backpack Industry
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