The global gym bag market reached US$ 1.9 billion in 2022. Revenue generated by the gym bags sales is likely to be US$ 2.0 billion in 2023. Between 2023 and 2033, demand for gym bags is poised to soar at a 3.0% CAGR, reaching US$ 2.7 billion by 2033.
China and India, in particular, two emerging economies, are expected to contribute to the market's explosive expansion significantly. This development is expected to be fueled by the rising interest in these countries' tourism and health industries. Modern health and fitness facilities designed to draw visitors are expected to be essential to market expansion. This demonstrates the Gym bag market's ability to capitalize on shifting consumer tastes.
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The growth of the middle class in emerging nations has increased disposable capital, which is anticipated to increase the market for gym bags. Given their remarkable spending ability, they could select stylish, high-end, trendy exercise and wellness items. The market is also expanding due to the e-commerce industry's quick expansion and the number of new products being introduced. Popular businesses are concentrating on producing gym bags based on client demands. Then, these bags are promoted through various offline and online means.
Given its greater capacity and adaptability in transporting multiple products, duffel bags have become extremely popular among customers in line with this boom. A noticeable increase in demand has also been seen for specialist gym backpacks that are made to fit accessories and training equipment easily. These include pockets for post-workout munchies, designated slots for headphones, safe holders for water bottles, room for towels, and specific shoe compartments. Indisputable continuous Gym bag market gains have resulted from this change in customer preferences.
Key Takeaways from the Gym bag market:
The Gym Bag Market Report for 2023 highlights significant regional trends and segment leadership within the global gym bag industry. In North America, the United States emerged as the dominant market, securing a substantial 22.7% share of the global market. Meanwhile, in Europe, Germany and the United Kingdom led the sector, with market shares of 3.6% and 2.6%, respectively. In the Asia Pacific region, China and India were prominent players, capturing 18.8% and 6.4% of the global market share.
Segment-wise, the duffle gym bag dominated by bag type, commanding 37.7% of the market. When considering material types, nylon gym bags were at the forefront, holding a 29.2% share of the global industry. These insights underscore the diverse regional preferences and the popularity of specific gym bag types and materials across the global market.
Leading Key Players:
The gym bag market is highly competitive, with leading key players such as Nike, Inc. and Adidas AG setting the benchmark with their innovative designs and durable materials. Everlast Worldwide, Inc. is renowned for its rugged, high-performance bags catering to fitness enthusiasts. JensenLee and Harrisons offer a range of stylish and functional gym bags, while Chateau Manufacturing and ToteBagFactory focus on affordability and variety. Herschel Supply Co. USA stands out for its trendy, high-quality products that appeal to both gym-goers and lifestyle users, ensuring a diverse and dynamic market landscape.
Recent Developments in the Gym bag market:
The Rock shared on Instagram the arrival of his All-Day Hustle line for Under Armour. The gym bag fits well on a person's back like a backpack and can stand upright without occupying much space on the bench in the restroom. It is strong and water-resistant since it is constructed of sturdy canvas. Additionally, it keeps necessities organized with an elastic top and a zipper in the middle so one can quickly reach inside.
Ben Grote and Anthony Ward introduced the Vamose Attachable Gym Bag. It is the first gym bag that can be connected to the backpack of any student or working adult, freeing up their hands and removing the burden of carrying an extra bag. Vamose attaches by simply encircling a backpack with two straps, attaching the magnetic buckles, and then pulling the straps tight to ensure the bag is fastened firmly. The Vamose can also be used alone to visit the gym.
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