Backpack Market Booming, Amid Trend of Rising Consumer Spending on Accessories, says Market.us

Aditya Deshmukh
Aditya Deshmukh

Updated · Jan 20, 2023

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Students don’t forget their notes, folders, or even the assignments they forgot at home because they carry backpacks everywhere. Students find all-day backpacks to be handier. Depending on their intended usage, they can be fashioned from a range of materials like linen, leather, and nylon and come in various forms and sizes. 

In order to carry more gear, some backpacks additionally come with extra features, including pockets, straps, and several sections. They are a well-liked option for academics, hikers, tourists, and daily wearers.

According to the latest report by Market.us, “The global backpack market is projected to grow from USD 16320 Million in 2023 to USD 32450 Million by 2033, at a CAGR of 10.1% in the forecast period 2023-2033.

backpack market growth

Gaurav Yadav, a senior research analyst at Market.us, said,” The rise in popularity of outdoor and adventure sports, the rise in the number of working adults, and the attractiveness of backpacks as a fashion accessory are all factors contributing to the market’s expansion.”

He added,” The market for backpacks has been expanding in recent years due to a number of causes. The rising popularity of outdoor and athletic activities is a significant factor in the need for tough and practical backpacks for activities like hiking, camping, and other outdoor pursuits.”

Books and other school supplies can be carried in school backpacks, which are meant for students and typically have a larger capacity. Outdoor backpacks, which are made for outdoor activities like hiking, camping, and other outdoor pursuits, frequently incorporate features like hydration systems and supply pockets. 

Travel backpacks, which are smaller in capacity and suited for travel, may contain features like secret pockets and straps to secure the contents of the backpack. Laptop backpacks, which are made to carry laptops and other electronic devices safely, frequently contain padded compartments and dedicated pockets for carrying these things.

Both well-known brands and fresh competitors are vying for market share in this fiercely competitive industry. Deuter, JanSport, The North Face, VF Corporation, Columbia Sportswear, Black Diamond, Inc., Osprey, Herschel Supply Co., Fjallraven, and Eastpak are a few of the leading companies in the worldwide backpack market.

The demand for fashionable and professional-looking backpacks to carry laptops and other work items has also surged as more people work remotely or launch their own enterprises. Finally, the market for backpacks has been impacted by the movement towards environmentally friendly and sustainable items. Many customers are now looking for backpacks produced ethically and with sustainable materials.

The demand for outdoor equipment, especially backpacks, is rising as people become more health-conscious and seek out new experiences. Digital nomads and the rise of remote employment The need for multifunctional, strong backpacks that can hold laptops and other electronic devices has grown as more individuals work remotely or travel for work.

Regardless of their geographical location, consumers can now purchase backpacks from a range of brands and merchants thanks to the advent of online shopping. With a wide range of styles and designs available to customers, backpacks are becoming a more and more popular fashion accessory.

Brands are increasingly providing environmentally friendly solutions, such as backpacks manufactured from sustainable materials and produced in a socially responsible manner, as consumers grow more aware of and concerned about environmental issues.

Consumers are less likely to buy non-essential goods like backpacks during economic downturns. Other bags or pieces of luggage, including duffel bags or rolling suitcases, may compete with backpacks. Backpacks may fall out of favor as a fashion accessory, reducing demand.

It may be challenging for new businesses to enter the backpack industry as there may be a saturation of comparable products. Sales of goods created from synthetic materials, including plastics, may decline as a result of growing worries over the effects of product manufacturing and delivery on the environment.

All of these elements may have an impact on the items’ accessibility and affordability, which may, in turn, limit market expansion.

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Aditya Deshmukh

Aditya Deshmukh

I am Aditya, I have more than 2 years of experience in Digital Marketing as well as in Industry Research I am workimg for core SEO team My core focus areas include: SEO, Web Analytics,Industry Research and find Industry build their brands through useful, well-designed marketing strategies. Digital marketing is my passion & I love what I do, I breathe it. I want to explore more, learn more, and try different tools.