Adidas AG, Under Armour, Inc., Wildcraft India Private Limited, VF Outdoor, LLC, Nike, Inc., V.I.P. Industries Limited, and Dakine IP Holdings LP., among others, are the key players in the global market for backpacks.
As per the analysis by Expert Market Research, the global backpack market attained a value of nearly USD 18.3 billion in 2021. The market is further estimated to grow in the forecast period of 2022-2027 at a CAGR of 6.61% to reach about USD 26.88 billion by 2027, driven by an increase in travel activities.
A backpack, often referred to as a knapsack, rucksack, is a cloth bag that is worn on the back and secured by two straps that cross the shoulder. Their use encourages ease, organisation, comfort, and safety, while transporting items. Backpacks come in fashionable designs and can hold personal items or necessities. The growing tourism industry coupled with the rising activities like camping and hiking is driving the demand for backpacks in the market.
The increased number of travellers and the increasing popularity of a mobile lifestyle are driving the global backpack market. Additionally, a number of market advances that aim to deliver backpacks with higher quality and efficiency will likely fuel the market growth on a global scale. The surging focus of market players to produce smart backpacks coupled with the rapid urbanisation is further expected to drive the market growth of the product.
Further, significant growth in recreational activities, coupled with the surging trend for styling by consumers are positively influencing the consumer demand for backpacks globally. The increasing preference for lightweight and durable backpacks for convenience and better comfort along with evolving innovations like the GPS, USB ports, and Bluetooth aided locks are further anticipated to bolster the backpack market growth.
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|Headquarters:||Maryland, United States|
Under Armour, Inc. is an American producer of sports, footwear, casual apparel, and accessories. The company focuses to make athletes better with performance solutions and innovations. The company has grown into a multibillion-dollar brand that is made, sold, and worn worldwide.
|Headquarters:||Colorado, United States|
One of the most well-known apparel, footwear, and accessory companies in the world, VF Corporation, links people to the lives, activities, and experiences they value most through a portfolio of well-known outdoor, workwear, and activewear brands. The company is continuously growing to stay in step with the customers and the swiftly changing global marketplace.
|Headquarters:||Oregon, United States|
Athletes remain at the centre of what Nike, Inc. does. The organisation works to build a future of constant advancements for athletes, sports, and the world through a global presence, an innovative culture, and a team-first philosophy. The company brings inspiration and innovation to every athlete in the world.
The world's top sporting goods are made and sold by Adidas AG. The company provides the finest customer service and experience possible while operating sustainably. It believes in the influence customers have on industry trends and places them squarely at the centre of all they do.
With consistent product innovations, attention to quality, and a focus on global aesthetics, VIP Industries Limited has revolutionised the baggage and travel industries. The business has evolved from being a manufacturer of travel accessories to a leader in travel apparel. VIP has become a category leader in Asia and also the second-largest luggage producer in the world.
Wildcraft India Pvt. Ltd. (WIPL) is a top manufacturer and distributor of head-to-toe gear for trek-to-travel solutions in India. The company offers high-quality, performance-driven products with multichannel distribution. The business sells cutting-edge goods that are multifunctional, useful, light, and weatherproof.
|Headquarters:||Oregon, United States|
Dakine IP Holdings LP. produces products that consumers can trust while reducing the impact those products have on the environment. From using recycled materials and designing outerwear with recyclable fabrics to growing plastic-free and compostable packaging and building durable gear for the longest life possible, the company is one of the leading businesses in the country. The company is focusing to reduce its impact while pushing the technical performance of the products.
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.