NEW YORK , Oct. 13, 2023 /PRNewswire/ -- The school bags market is expected to grow by USD 6 .38 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 6.65% during the forecast period. The market is segmented by product (polyesters, nylon, canvas, leather, and others), distribution channel (online and offline), and geography (APAC, Europe , North America , South America , Middle East and Africa ). High demand for lightweight school bags is a key factor driving market growth. To satisfy the growing demand for thin school bags, sellers of school bags use advanced technologies and raw materials. Moreover, several of them are water-repellent and made from polyurethane. An ordinary school backpack is heavier because of electronics. This is why strong bags are preferred by parents and school administrations. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. Explore detailed information by purchasing a report
The report recognizes the following as some of the key players in the school bags market: ACCO Brands Corp., Bagmiller, Balaji Bag, Brainbees Solutions Pvt. Ltd., Decathlon SA, DELSEY, Dolce and Gabbana SRL, Fjallraven Retail USA LLC, Genie Bags India, Khadim India Ltd., Nike Inc., PUMA SE, Rothco, Samsonite International SA, Sanghavi Bag, SREELEATHERS LTD, Sumdex inc., VF Corp., VIP Industries Ltd., and Wildcraft India Pvt. Ltd. Stuffed Monkey
School Bags Market is fragmented in nature.
Market to observe 6.01% YOY growth in 2023.
Increased demand for school bags made of environmentally friendly materials is a major trend in the market.
Companies are starting to produce products based on discarded textiles and plastic bottles.
It also contributes to reducing the nondegradable waste streams such as plastics in the environment.
Hence, these factors are expected to drive market growth during the forecast period.
Rising labor costs and fluctuating raw material prices a major trends in the market.
Due to the changes in market conditions, the cost of labor has been increasing for countries where a supplier is supplied.
This reduces the profitability of suppliers because of an increase in production costs.
Hence, these factors are expected to restrict market growth during the forecast period.
The report also covers information on upcoming trends and challenges. View Free PDF Sample Report
The market share growth by the polyesters segment will be significant during the forecast period. Polyester bags have a reputation for durability, which makes it possible for them to withstand everyday damage and tears caused by rain, long road travel, or bulky books. Because of its ability to withstand water and discoloration, polyester bags are often preferred. Knowing that your child's assets are safe against the elements is a comfort to parents. Hence, these factors are expected to drive segment growth during the forecast period.
Get a glance at the market contribution of the segments, Request Free Sample Report
The indoor and outdoor bean bag market size is estimated to grow at a CAGR of 5.72% between 2022 and 2027. The market size is forecast to increase by USD 1,092.73 million.
The agricultural grow bags market size is estimated to grow at a CAGR of 5.46% between 2022 and 2027. The market size is forecast to increase by USD 247.88 million .
Accelerate at a CAGR of 6.65%
APAC, Europe, North America, South America, and Middle East and Africa
US, China, India, Japan, and Germany
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
ACCO Brands Corp., Bagmiller, Balaji Bag, Brainbees Solutions Pvt. Ltd., Decathlon SA, DELSEY, Dolce and Gabbana SRL, Fjallraven Retail USA LLC, Genie Bags India, Khadim India Ltd., Nike Inc., PUMA SE, Rothco, Samsonite International SA, Sanghavi Bag, SREELEATHERS LTD, Sumdex inc., VF Corp., VIP Industries Ltd., and Wildcraft India Pvt. Ltd.
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, and Market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Market Segmentation by Distribution Channel
Drivers, Challenges, & Trends
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com
School Backpack View original content to download multimedia:https://www.prnewswire.com/news-releases/school-bags-market-to-grow-by-usd-6-38-billion-from-2022-to-2027--high-demand-for-lightweight-school-bags-to-drive-the-growth--technavio-301955513.html