The global gym bags market is expected to secure US$ 1,897.9 million in 2022 and is likely to be valued at US$ 2,567.9 million by 2032. The market is projected to exhibit a CAGR of 3.1% during the forecast period.
The market share of gym backpacks has grown recently due to millennials’ growing emphasis on health and fitness. Due to their bigger size and ability to carry numerous items, duffel bags are also becoming increasingly popular with consumers.
Additionally, rising brand recognition and consumer demand for fitness and health products are anticipated to have a beneficial impact on market expansion throughout the course of the forecast period.
Changing consumer preferences towards healthy lifestyles has significantly increased the demand for fitness related products. The inclination of a large number of people towards fitness is primarily driving the gym bags market. Gym bags are the essential accessories for every athlete in the fitness industry to carry their daily need sportswear and nutrition inside it.
Identify key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our PDF Sample Report https://www.futuremarketinsights.com/reports/sample/rep-gb-6308
It has also emerged as the fashion accessory for most of the youngsters in the fitness industry. Gym bags are generally made up of the polyester material and possesses good strength to sustain for a long period of time. The global gym bags market is expected to witness a healthy CAGR during the forecast period.
Global Gym Bags: Market Dynamics
The growth of the global gym bags market is expected to be driven by an increasing inclination of a large population base towards health and fitness. Increasing disposable income of middle class population in key economies is further expected to spur the demand of the gym bags market. Gym enthusiasts all over the globe spend a good amount on their gym accessories which further propels the demand of the global gym bags market.
There is strong competition among the manufacturers for maintaining their presence in the market due to the presence of a large number of local players. So, in order to stay competitive, the manufacturers are also focusing on technological advancements to gain consumer traction.
One such example of technological advancement is the advent of an anti-theft bag which is gaining enormous popularity among the younger generation all over the globe.
Personalization of gym bags according to the needs of the consumers is a key trend prevailing in the global gym bags market. Incorporation of various features such as a different ventilated section for used garments and products is also expected to bring in new market avenues of growth for the global gym bags market.
Ask an Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-6308
Global Gym Bags Market: Regional Outlook
On the basis of geography, the global gym bags market is segmented into North America, Asia Pacific, Middle East & Africa, Europe, and Latin America. North America gym bags market is expected to lead the global market due to a more health conscious population as compared to other regions.
Moreover, according to various independent studies, Americans are becoming more concerned towards health and wellness which is further expected to propel the demand of the gym bags market. Asia Pacific is expected to expand with the highest CAGR due to increasing disposable income and an increased spending by consumers on their lifestyle. India and China are the major economies driving the growth of the Asia Pacific gym bags market.
Middle East & Africa along with Latin America are expected to hold a small market share in the global gym bags market due to a comparatively small population base as well as low penetration of the health and wellness related products in the regions.
Competitive Landscape:
Key players are the prominent driver of the gym bags market by acquiring higher revenue as compared to historic market revenue during the forecast period. They are uplifting the market share by using several marketing tactics. Some of the strategies are partnerships, collaborations and acquisitions.
Key players in the global gym bags market include
- Nike, Inc.
- JensenLee
- Everlast Worldwide, Inc.
- Chateau Manufacturing
- Harrisons
- ToteBagFactory
- Herschel Supply Co. USA
- Adidas AG
Recent Developments in the Gym Bags Market
In August 2021, Adidas announced that it had entered into a definitive agreement to sell Reebok to Authentic Brands Group (ABG) for a total consideration of up to US$ 2.135 trillion, with a majority to be paid in cash at the closing of the transaction, and the remainder comprised of deferred and contingent consideration.
Report Customization available @ https://www.futuremarketinsights.com/customization-available/rep-gb-6308
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
