The Backpack Global Market Report 2023, provides comprehensive information on the backpack market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global backpack market size is expected to grow from $18.56 billion in 2022 to $19.60 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global backpack market is expected to grow to $23.96 billion in 2027 at a CAGR of 5.1%.
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Integration of smart technology is the key trend gaining popularity in the backpack market. Major companies operating in the market are integrating innovative technologies with backpacks including Bluetooth, GPS, USB ports, mobile apps, and others to sustain their position in the market. For instance, in January 2022, Huawei Technologies Co Ltd., a China-based infrastructure and smart devices provider in information and communications technology (ICT), launched a smart school bag. Huawei has included an LCD, smart scheduling capabilities, and GPS connectivity in the school bag to track children’s movements. The Huawei 9um Smart Positioning Children’s School Bag is a smart school bag that supports the Huawei Smart Life App and HarmonyOS Connect. When their children’s backpacks (and, by extension, their children) enter or exit one of the pre-defined areas, the app will send a message alert to the parents. Parents will also receive a bag usage report via the app, which will check a child’s location in Realtime and beam it over to the parents via the app.
The backpack market is segmented:
1) By Type: Work Bags, Sports and Recreation Bags, Travel Bags, Other Types
2) By Material: Cotton, Leather, Nylon, Other Materials
3) By Distribution Channel: Supermarket or Hypermarket, Convenience Stores, Online Stores, Other Distribution Channels
4) By End-Use: Commercial, Individual, Other End-Uses
North America was the largest region in the backpack market in 2022.
The table of contents in TBRC’s backpack market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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