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The bicycle bags market size is forecast to increase by USD 28.2 million at a CAGR of 3.7% between 2023 and 2028. The market is experiencing significant growth due to several key factors. First, the rise in disposable income levels and increasing popularity of cycle tourism are driving demand for bicycle bags. Pannier bags and saddle packs, in particular, are popular choices due to their organized storage, essentials compartment, and versatility. Consumers seek bags that are compact, aerodynamic, waterproof, and durable for their cycling needs. As the market expands, challenges such as the presence of counterfeit products continue to pose a threat. To meet consumer demands, manufacturers are focusing on producing high-quality, portable, and functional bicycle bags that cater to both recreational and professional cyclists. Luggage transport is made easy with these bags, allowing bikers to carry their essentials securely and conveniently. Key product offerings include pannier bags with multiple pockets and saddle packs with quick-release systems. By addressing these trends and challenges, the market is poised for continued growth.
The market is witnessing significant growth due to the increasing popularity of cycling as a mode of transportation and recreation. Two major categories of bicycle bags are pannier bags and saddle packs, each catering to different cycling needs. Pannier bags, also known as side bags, offer organized storage for daily commuters and weekend adventurers. These bags attach to the bicycle's main triangle, typically using straps or hooks, and provide ample space for carrying essential items. Compact panniers are designed to be portable and versatile, while larger ones can accommodate repair tools, spare parts, and other gear for long-distance touring. Saddle packs, also called seat packs or seat bags, are an aerodynamic alternative to panniers. They attach to the saddle or seat post, providing a snug fit for mountain bikes, gravel bikes, and touring bikes.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The offline segment is estimated to witness significant growth during the forecast period. In the United States, the market for bicycle bags encompasses various types of bags such as pannier bags and saddle packs. These bags cater to the need for compact, aerodynamic, and organized storage solutions for essentials like tools, water, and clothing during cycling adventures.
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The offline segment was the largest segment and was valued at USD 79.50 million in 2018. Waterproof and durable materials ensure protection against the elements, while versatility and portability make these bags an indispensable companion for cyclists. Offline distribution channels contribute significantly to revenue generation in this market. Specialty stores, including exclusive brand outlets, multi-brand stores, apparel stores, factory outlets, airport retailers, and personal goods stores, are key players in this sector. Hypermarkets, supermarkets, convenience stores, and clubhouse stores also contribute to the market's growth during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in North America is experiencing significant growth due to the increasing popularity of high-end mountain and sports bicycles. Mountain biking, an off-road sport that has gained immense traction in the region, is a major contributor to this trend. Enthusiasts and recreational buyers, who are not deterred by premium pricing, are the primary consumers of these bicycles. Bicycle bags are essential items for mountain bikers and touring cyclists, providing a snug fit on the seat tube, head tube, or stem.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing disposable incomes is notably driving market growth. The global market for bicycle bags has experienced steady growth due to the rising disposable income levels among consumers worldwide. The economic expansion in developing countries and the continuous growth in developed economies have significantly increased disposable income, enabling consumers to invest in premium products.
According to the Organisation for Economic Co-operation and Development (OECD), disposable income in both developing and developed countries has witnessed substantial growth since 2016. Furthermore, the increasing Gross Domestic Product (GDP) per capita in developing countries has led to an increase in spending on high-end items such as biking gear. For instance, China's GDP per capita grew from USD 7,651 in 2014 to USD 11,424 in 2020. As a result, the demand for various types of bicycle bags, including Biker wallets, Handlebar bags, Recumbent seat bags, Panniers, and Back racks, has been on the rise. Thus, such factors are driving the growth of the market during the forecast period.
Growing cycle tourism is the key trend in the market. Bicycle tourism is a growing trend in urban areas, particularly in Western Europe, as more people embrace sustainable transportation methods. This shift presents opportunities for communities to foster economic development through eco-friendly tourism. The increasing popularity of urban cycling has led to advancements in infrastructure and equipment designed for cyclists.
One essential aspect of urban cycle touring is the need to transport various items, such as phones, cameras, water bottles, and first-aid kits. Bicycle bags cater to this requirement, offering efficient storage solutions for heavier items while protecting them from scratches and damage during transport. Thus, such trends will shape the growth of the market during the forecast period.
Presence of counterfeit products is the major challenge that affects the growth of the market. The market for bicycle bags, including frame bags, saddlebags, and clear map cases, has witnessed significant growth due to the increasing popularity of cycling as a mode of transportation and recreation. This trend has led to an increase in demand for various types and sizes of bags to securely attach tools, snacks, tubes, and other belongings hands-free.
However, the growth of this market also presents an opportunity for counterfeit products to thrive. These imitation bags, often made with subpar materials, can pose a risk to users due to the use of harmful chemicals. The proliferation of e-commerce platforms has facilitated the sale of counterfeit bicycle bags, making it challenging for consumers to distinguish between authentic and fake products. Many counterfeit bags bear similar branding to well-known brands, further complicating the issue. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arkel: The company offers a wide range of bicycle bags such as seat bags, bikepacking bags among others.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Bicycle bags play a crucial role in the biking experience, providing organized storage for essential items and ensuring a comfortable, hands-free ride. Two popular types of bags for biking are pannier bags and saddle packs. Pannier bags attach to the bike's main triangle using straps or a rack, offering ample space for heavier items like tools, spare parts, repair kits, and biker wallets. Saddle packs, on the other hand, are compact and aerodynamic, designed for daily commuters and weekend adventurers. They securely attach to the saddle or seat post, suitable for lighter items like snacks, water bottle, phone, camera, and a first-aid kit. Both pannier bags and saddle packs come in various shapes and sizes, ensuring a snug fit for different bike types, including mountain bikes, gravel bikes, and touring bikes. Roll-top designs offer flexibility, while secure zippers ensure the safety of belongings. Waterproof and durable materials protect items from the elements, making these bags versatile and portable. Handlebar bags, frame bags, and recumbent seat bags are other options for biking needs.
Market Scope |
|
Report Coverage |
Details |
Page number |
139 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.7% |
Market growth 2024-2028 |
USD 28.2 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.5 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 41% |
Key countries |
US, Germany, UK, France, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arkel, ASG International SRL, Axiom Cycling Gear, Basil BV, Carradice of Nelson Ltd., Hangzhou Xibu Technology Co. Ltd., IBERA CO. LTD., Lone Peak Packs, MAINSTREAM MS-Ã XÃ, Nexus Mingda Ltd., ORTLIEB Sportartikel GmbH, RockBros.bike, Schwanhausser Industrie Holding GmbH and Co. KG, SELLE ROYAL spa, Thule Sweden AB, TOPEAK Inc., Trek Bicycle Corp., VAUDE Sport GmbH and Co. KG, Vincita Co. Ltd., and Vista Outdoor Inc. |
Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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