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The outdoor backpacks market is estimated to grow at a CAGR of 4.64% between 2022 and 2027. The size of the market is forecast to increase by USD 645.41 million. The growth of the market depends on several factors, including the growing popularity of hiking among millennials, the availability of outdoor backpacks online, and the increasing urbanization rate.
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This outdoor backpacks market report extensively covers market segmentation by Distribution Channel (specialty stores, department stores, hypermarkets and supermarkets, online, and warehouse clubs ), Type (15-60 liters and above 60 litres ), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 - 2021.
The market share growth of the 15-60 liters segment will be significant during the forecast period. Outdoor backpacks with a capacity of 15-60 liters are small and medium-sized backpacks that are primarily designed for trips ranging from day walks, hikes, and expeditions to trips that last one-three nights. There is a high demand for medium-sized backpacks among individuals who engage in weekend trips or short-duration trips of one-three nights.
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The 15-60 liters segment was valued at USD 1,627.80 million in 2017 and continued to grow until 2021. These medium-sized backpacks have features that are similar to those of day backs, along with additional padding and pockets to accommodate all the extra gear and equipment required for longer trips. Sleeping bags, quilts, clothes, tents, stoves, cooking pots, and utensils can easily fit in outdoor backpacks with a capacity of 15-60 liters. Vendors in the global market have started offering various types of outdoor backpacks in this capacity to address the growing demand by consumers.
The prevailing trend in the market is an increasing inclination towards personalized outdoor backpacks. Vendors are responding to the rising demand for high-quality outdoor backpacks by adopting strategies such as expedited delivery, customization, and personalization. This approach allows consumers to acquire backpacks tailored to their specific needs, fostering a strong vendor-customer relationship. The emphasis on customization and personalization serves as a means for vendors to attract and retain consumers, thereby contributing to the growth of the global outdoor backpacks market in the forecast period.
The primary obstacle hampering market growth is the threat posed by counterfeit products. The increased presence of fake items creates an uneven competitive landscape and disrupts price standardization, resulting in the erosion of market share for authentic vendors. Counterfeit products, characterized by inferior durability and quality, are typically sold at lower prices, providing a competitive advantage to manufacturers of counterfeit goods. Consequently, key market players face challenges in achieving optimal market penetration.
Furthermore, the prevalence of counterfeit products contributes to the blurring of distinctions between authentic and fake brands. This confusion among consumers diminishes the potential sales of genuine outdoor backpack brands. Therefore, the widespread availability of counterfeit products stands out as a significant challenge likely to impede market growth during the forecast period.
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APAC is estimated to contribute 37% 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 growth in APAC is mainly attributed to the increase in spending by millennials on personal goods (such as travel and business bags). China, India, Japan, Australia, Thailand, and Hong Kong are some of the key countries that are contributing to the growth of the outdoor backpacks market in APAC.
China is the most prominent market for manufacturers of personal goods (such as outdoor backpacks) due to the increase in spending by consumers on premium and high-quality personal goods. The significant growth of the market can be attributed to retail expansions by certain vendors. APAC provides significant growth opportunities for market vendors. Both the retail and wholesale channels of the company in APAC are growing at a significant pace. Thus, growth opportunities in APAC are expected to boost the sales of vendors significantly. These factors will positively impact the growth of the market in the region during the forecast period.
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.
Wildcraft India Pvt. Ltd. - The company operates under one segment. Through this segment, the company offers various types products such as bags, masks, raincoats and PPE kits. The company offers outdoor backpacks under the brands Camp Chef, Giro, QuietKat, and Stone Glacier.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market 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.
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Outdoor Backpacks Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2023 |
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Historic period |
2017 - 2021 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.77% |
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Market growth 2024-2028 |
USD 827.94 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.61 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 37% |
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Key countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amer Sports Corp., AMG Group Ltd., Authentic Brands Group LLC, BearMade, Cascade Designs Inc., Clarus Corp., Columbia Sportswear Co., Dakine IP Holdings LP, Deuter Sport GmbH, Exxel Outdoors LLC, Helen of Troy Ltd., Newell Brands Inc., Patagonia Inc., Samsonite International SA, Thule Sweden AB, Timbuk2 Designs Inc., VAUDE Sport GmbH and Co. KG, VF Corp., Vista Outdoor Inc., and Wildcraft India Pvt. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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