The
global gym bag market size is expected to reach USD 1.8
billion by 2025, according to a new report by Grand View Research, Inc.,
registering a 7.9% CAGR over the forecast period. The growth in the market is
driven by increasing consumer consciousness regarding fitness and the
availability of various products and accessories to suit individual needs.
Moreover, rapid growth of the fitness and wellness sector in Asia and South
America, along with rise in sales of health and fitness equipment, accessories,
and products used in the industry and increasing presence of health clubs and
fitness centers in these regions are contributing to the growth of this market.
The
market is also driven by increasing purchasing power of consumers in developing
countries in recent years, which has propelled product demand. Growth of the
middle-income population group in these countries has resulted in higher
disposable income in recent years. This has enabled them to opt for on-trend,
fashionable, and premium products in the health and fitness sector. Surge in
new product launches and the impact of ecommerce are other key factors driving
the global market. Leading manufacturers are looking to cater to varying
consumer requirements when it comes to a gym bag. These are then being made
available across a host of online and offline distribution channels.
Increasing
number of people turning to healthier lifestyles has also inspired several
multinational companies to encourage their employees to take up health and
fitness club memberships, a trend that is likely to give the market a boost.
Gym bags that are compatible with various smart and connected devices is a
lucrative opportunity for players in the market.
For Full Research Report On Gym Bag Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/gym-bag-market
Gym Bag Market Report Highlights
- In terms
of revenue, duffle bags are projected to register a CAGR of 7.5% over the
forecast period
- The
offline channel led the market with a share of 86.6% in 2018. Varied
products sold at supermarkets, hypermarkets, specialty stores, and others
play a critical role in driving this segment
- North
America dominated the global gym bag market in 2018, accounting for 38.3%
of the revenue that year. This trend is projected to continue over the
next few years
- A
growing health and fitness industry, fueled by increasing awareness
regarding fitness and well-being among consumers, is expected to propel
the market
- With
increasing disposable income in India, South Korea, China, and Japan,
these markets offer lucrative opportunities for growth in Asia Pacific
- The
industry is highly competitive in nature with the main players being
JensenLee; Everlast Worldwide, Inc.; Chateau Manufacturing; Harissons;
Nike, Inc.; ToteBagFactory; Herschel Supply Co. USA; and Adidas AG
- Various
manufacturers are concentrating on new product launches, capacity
expansion, and technological innovations to estimate existing and future
demand patterns from upcoming product segments
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Gym Bag Market Segmentation
Grand
View Research has segmented the global gym bag market on the basis of product,
distribution channel, and region:
Gym Bag Product Outlook (Revenue, USD Billion, 2015 - 2025)
- Duffle
- Drawstring
- Others
Gym Bag Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
- Online
- Offline
Gym Bag Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North
America
- U.S.
- Europe
- Germany
- U.K.
- Asia
Pacific
- China
- Japan
- Central
& South America
- Brazil
- Middle
East & Africa
- South
Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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