Backpacks market worth $23.4 billion by 2027 at a growth rate of 2.6% – IndustryARC


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Surging Advantages of Backpacks are Projected to Drive the Growth of Backpacks Market

HYDERABAD, TELANGANA, INDIA, November 23, 2022 / — IndustryARC, in its latest report, predicts that the Backpacks Market size is estimated to reach $23.4 billion by 2027, growing at a CAGR of 2.6% during the forecast period 2022-2027. Backpacks also termed knapsacks, schoolbags, rucksacks, rucksacs, packs, sackpacks, booksacks, bookbags or backsacks. Backsacks include fabric sacks carried on one’s back and fastened with two straps that go over the shoulders, however, they can have an external frame, internal frame and there are bodypacks. Backpacks are normally utilized by hikers and students and are frequently preferred to handbags for carrying heavy loads or carrying any kind of machinery, owing to the restricted capacity to carry heavy weights for long periods of time in the hands. Nylon is a water resistant material and therefore backpacks are prepared with nylon material. Presently, waterproof backpacks are recognized across the world. Polyester backpacks are available for sale online on websites like flipkart. There are travel backpacks available for men and women. There are travel bags available for sale online on websites like Myntra.
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Key takeaways:
This IndustryARC report on the Aquaculture Additives Market highlights the following areas –
1. Geographically, North America (Backpacks market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the surging product demand attributed to the increasing number of travelers preferring and lightweight backpacks and travel bags in the North American region.
2. Backpacks Market growth is being driven by the soaring demand for backpacks and travel bags from men and women across distinct regions worldwide and the rising recognition of outdoor activities. However, while living out of a backpack makes traveling light, it limits the quantity of items that can be packed resulting in user dissatisfaction which is one of the major factors hampering the growth of Backpacks Market.
3. Backpacks Market Detailed Analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Backpacks Market report.
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Segmental Analysis:
Backpacks Market Segment Analysis – By Type : The Backpacks Market based on type can be further segmented into Work Bags, Sports And Recreation Bags, Travel Bags. The Work Bags segment held the largest Backpacks market share in 2021. This growth is due to the increasing application of work bags by the employed workforce worldwide.
Backpacks Market Segment Analysis – By Material : The Backpacks Market based on material can be further segmented into Cotton, Leather, Nylon, Others. The Nylon Sand segment held the largest Backpacks market share in 2021.
Backpacks Market Segment Analysis – By Geography : The Backpacks Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and Rest of the World. North America (Backpacks Market) held the largest Backpacks market share with 35% of the overall market in 2021.
Competitive Landscape:
The top 5 players in the Backpacks Industry are –
1. Puma
2. Reebok
3. Fasttrack
4. Toshiba Corporation
5. The North Face
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