“The School Bags Market is poised to grow by USD 5.71 billion during 2022-2026, accelerating at a CAGR of 6.34% during the forecast period”

School Bags is a bags for carrying schoolbooks and school supplies. It is often used for transporting different school supplies like text books, exercise books, lunchboxes, pencil boxes, and water bottles, to and from school. Bag is an important commodity for a school-going kid as it helps him/her to protect all the belongings safe from external damage.

Technavio market report provides a holistic analysis, market size and forecast, trends, growth drivers, challenges, and vendor analysis covering around 15 vendors. Furthermore, this report extensively covers the market segmentation by type of distribution channel and geography APAC, North America, Europe, South America, and Middle East and Africa . The market report also offers information on several market vendors, including ACCO Brands Corp., adidas AG, BagsInBulk, Callaway Golf Co., Crumpler Ltd., DELSEY, Dolce and Gabbana Srl, Elecom Co. Ltd., Hermes International SA, LVMH Moet Hennessy Louis Vuitton SE, Nike Inc., Quanzhou Dabao Light Industry Products Co. Ltd., Samsonite International SA, Sumdex inc., Targus, United States Luggage Co. LLC, VF Corp., Victorinox AG, Vinci Brands LLC, and VIP Industries Ltd. among others.

What will the School Bags Market Size be During the Forecast Period?

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Parent Market Analysis

Our Technavio Research categorizes the report as belonging to the Apparel, Accessories & Luxury Goods Industry of the market. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions.

Technavio is a global technology research and advisory company. We use a proprietary Research Methodology tailored to each market we cover. Unlike most vendors that provide similar reports, our team of Industry Experts constantly validates our data, assumptions, and conclusions based on in-depth research and over 50 years of combined experience in the IT Industry. Our data is completely original: it has not been aggregated or replicated. This creates a unique opportunity for you to obtain a comprehensive view of the current state of the market as well as provide deep insights into future outlook areas.

School Bags Market: Key Drivers, Trends, and Challenges

Technavio Research categorizes the market belonging to the School Bag Industry. The  market is one of the most mature, but dynamic markets in the apparel industry. The innovations in materials and designs leading to product premiumization is notably driving the market growth, although factors such as rising labor costs and fluctuating raw material prices may impede market growth . Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.

The market is extremely competitive with all sizes of businesses, including large, medium, and small-sized companies vying to monopolize the market. The tremendous development in various fields such as product innovations and new product launches by manufacturers operating in the market will drive the growth further.

Key School Bags Market Driver

• One of the key factors driving the global school bags industry growth is the innovations in materials and designs leading to product premiumization. 
• School bags have become more of fashion products due to evolving fashion trends, changing lifestyles, and preferences.
• The customers prefer schools to perform multiple functions such as carrying laptops and tablets.
• The launch of trolley school bags to release the pressure on users' shoulders will also drive the market growth.
• The key players are focusing more on new designs and patterns to attract more customers. Therefore, the use of innovative materials is estimated to boost the  market during the forecast period.

Key School Bags Market Trend

• Increased demand for made of environment-friendly material is one of the key industrial market trends that is expected to impact the industry positively in the forecast period.
• The governments and various agencies have raised concerns over hunting and favor a ban on hunting, which has restricted the supply of leather.
• The USDA and the National Organic Program ensure that leather is obtained from animals raised on organic feed and that their skin is tanned in certified organic tanneries, where plant-based and smoke are used for leather processing.
• The manufacturers are phasing out harmful PVC from their products. For instance, Targus, one of the prominent players in the global market, offers eco-friendly bags such as a 15.6" Spruce EcoSmart Checkpoint-Friendly Backpack, made of 100% recycled polyethylene terephthalate (PET) polyester and PVC-free material.
• The high demand for bags made of environment-friendly materials will further support market growth in the coming years.

Key School Bags Market Challenge

• One of the key challenges to the global school bag industry growth is the rising labor costs and fluctuating raw material prices.
• Leather is one of the major raw materials in the manufacturing of and the leather manufacturing process is quite expensive.
• The cost of production has increased due to the rise in labor costs and constant fluctuating prices in the developing countries resulting in declining profit margins.
• Due to the highly competitive market, the vendors are restricted from increasing the end-products prices which reduces their profit margins.
• The fluctuating raw material and labor expenses are expected to hamper the market growth during the forecast period.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major School Bags Market Vendors?

The vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading market vendors such as

• ACCO Brands Corp.
• adidas AG
• BagsInBulk
• Callaway Golf Co.
• Crumpler Ltd.
• DELSEY
• Dolce and Gabbana Srl
• Elecom Co. Ltd.
• Hermes International SA
• LVMH Moet Hennessy Louis Vuitton SE
• Nike Inc.
• Quanzhou Dabao Light Industry Products Co. Ltd.
• Samsonite International SA
• Sumdex inc.
• Targus
• United States Luggage Co. LLC
• VF Corp.
• Victorinox AG
• Vinci Brands LLC
• VIP Industries Ltd.

The market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

The inclusive growth scenario of the market is a significant opportunity for vendors, who should explore strategic options to penetrate new segments and successfully take on rivals in the market. These strategies include investment in R&D, developing and licensing technology, increasing production capacity, and capacity optimization.

This market study provides key insights on the market including a vendor analysis, competitive landscape, and growth drivers. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Market Overview

Technavio categorizes the global school bags as a part of the global apparel, accessories, and luxury goods market, within the textiles, apparel, and luxury goods market. The parent market, the global apparel, accessories, and luxury goods market, covers products and companies engaged in the manufacturing/marketing of apparel, accessories, and luxury goods. The market also includes companies offering apparel, accessories, and luxury goods rental services.

School Bags Market Value Chain Analysis

In this report, we provide extensive information on the value chain analysis for the market. Our data covers all key stages of the market and provides a complete understanding of all aspects of a cash logistics value chain. This includes an end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies.

Which are the Key Regions for School Bags Market?

43% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for school bags in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increase in the spending on education, in countries such as China, Japan, and India, will facilitate the market growth in APAC over the forecast period. The growth of this regional market can be attributed to the increased spending on education. China, Japan, and India are the key contributors to the regional market. China is a key manufacturer of school bags and spends heavily on premium and good-quality schooling and stationery products. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery AnalysisHi

In 2020, the education sector in APAC was adversely impacted by the COVID-19 pandemic. However, the decline in the number of COVID-19 cases following the initiation of mass COVID-19 vaccination drives and the lifting of lockdown restrictions are anticipated to have a positive impact on the growth of the market during the forecast period. Also, new enrollments in schools increased in countries such as India. Thus, with the reopening of schools and an increase in student enrollment, the market in focus will grow during the forecast period.

What are the Revenue-generating Distribution Channel Segments in the School Bags Market?

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The market share growth by the offline segment will be significant during the forecast period. The specialty distribution stores such as supermarkets, hypermarkets, and convenience stores generate revenue for the offline segment resulting in intensifying the competition. In addition, retailers are coming up with new businesses, wider assortments, pricing, and retail strategies for surviving the competition. The offline retailers are expanding their stores in local and regional markets for boosting sales through the offline segment, which will drive the segment growth in the forecast years.

The report provides a near-term to long-term perspective on the trends and forecasts horizon for the market. It offers an overview of the key market drivers and restraints, enabling precise identification of key opportunities in each region over the coming years.

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What are the Key Data Covered in this School Bags Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive the growth during the next five years
• Precise estimation of the size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the the industry across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of school bags market vendors

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