The Gym Bag Market is Predict to reach USD 3.2 Billion by 2031, at a CAGR of 11.5%

16-Oct-2023 | Read more

Report Format: Electronic (PDF)

Gym Bag Market Growth, Trends and Report Highlights

According to a new report published by KBV research, the Global Gym Bag Market size is expected to reach $3.2 billion by 2031, rising at a market growth of 11.5% CAGR during the forecast period. In 2023, the market attained a volume of 57,289.42 thousand units, experiencing a growth of 15.6%.

The Online segment is anticipating a CAGR of 13.5% during 2023-2031. Many consumers find online purchasing appealing due to the ease of comparing prices, the ability to read reviews, and the convenience of browsing various products from the comfort of their homes. Additionally, various promotions, discounts, and the availability of exclusive online models further enhance the appeal of purchasing gym bags through digital platforms.

The Men segment is leading the Global Gym Bag Market by Gender in 2023, thereby achieving a market value of $1.8 billion by 2031. This could be attributed to several factors, including a growing fitness culture among men, increased participation in gym activities, and a trend toward fashion-forward gym accessories. Men typically seek gym bags that are durable, spacious, and versatile, accommodating both workout gear and everyday essentials.

The Drawstring segment is registering a CAGR of 12% during 2023-2031. Drawstring bags are valued for their lightweight and convenient design, making them ideal for quick trips to the gym or casual outings. Their affordability further enhances their appeal, especially among younger consumers and those who prefer a minimalist approach to carrying their essentials.

Full Report: https://www.kbvresearch.com/gym-bag-market/

The North America region dominated the Global Gym Bag Market in 2023 and is expected to continue as a dominant market till 2031, achieving a market value of $1.2 billion by 2031. The Europe region is experiencing a CAGR of 11.1% during 2023-2031, while the Asia Pacific market region exhibits a CAGR of 12.3% during the same period.

List of Key Companies Profiled

• Herschel Supply Company (Herschel Capital Corp.)
• ToteBagFactory (Smart-K LLC)
• Everlast Worldwide Inc. (Frasers Group plc)
• Nike, Inc.
• Adidas AG
• Under Armour, Inc.
• Lululemon Athletica, Inc.
• PUMA SE (Groupe Artémis S.A.)
• Reebok International Ltd. (Authentic Brands Group LLC)
• The North Face (VF Outdoor LLC)

Gym Bag Market Report Segmentation

By Distribution Channel (Volume, Thousand Units, USD Billion, 2023-2031)

• Offline
• Online

By Gender (Volume, Thousand Units, USD Billion, 2023-2031)

• Men
• Women
• Kids

By Product (Volume, Thousand Units, USD Billion, 2023-2031)

• Duffle
• Drawstring
• Other Products

By Geography (Volume, Thousand Units, USD Billion, 2023-2031)

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Recent Developments

• In June 2023, Norda introduced the first ever Bio-Dyneema bag, the most resilient and versatile duffel bag ever designed for trail runners.

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