Global Gym Bags Market: Introduction
Changing consumer preferences towards healthy lifestyles has significantly increased the demand for fitness related products. The inclination of a large number of people towards fitness is primarily driving the gym bags market. Gym bags are the essential accessories for every athlete in the fitness industry to carry their daily need sportswear and nutrition inside it. It has also emerged as the fashion accessory for most of the youngsters in the fitness industry. Gym bags are generally made up of the polyester material and possesses good strength to sustain for a long period of time. The global gym bags market is expected to witness a healthy CAGR during the forecast period.
Global Gym Bags: Market Dynamics
The growth of the global gym bags market is expected to be driven by an increasing inclination of a large population base towards health and fitness. Increasing disposable income of middle class population in key economies is further expected to spur the demand of the gym bags market. Gym enthusiasts all over the globe spend a good amount on their gym accessories which further propels the demand of the global gym bags market.
There is strong competition among the manufacturers for maintaining their presence in the market due to the presence of a large number of local players. So, in order to stay competitive, the manufacturers are also focusing on technological advancements to gain consumer traction.
One such example of technological advancement is the advent of an anti-theft bag which is gaining enormous popularity among the younger generation all over the globe.
Personalization of gym bags according to the needs of the consumers is a key trend prevailing in the global gym bags market. Incorporation of various features such as a different ventilated section for used garments and products is also expected to bring in new market avenues of growth for the global gym bags market.
Global Gym Bags: Market Segmentation
The global gym bags market is segmented on the basis of bag type, material type, and geography.
On the basis of bag type, the global gym bags market is segmented into –
- Duffle Bags
- Drawstring Bags
- Gym Backpacks
- Tote Bags
Duffle bags are the most preferred type of gym bags as they offer more space as compared to their counterparts.
On the basis of material type, the global gym bags market is segmented into
Global Gym Bags Market: Regional Outlook
On the basis of geography, the global gym bags market is segmented into North America, Asia Pacific, Middle East & Africa, Europe, and Latin America. North America gym bags market is expected to lead the global market due to a more health conscious population as compared to other regions. Moreover, according to various independent studies, Americans are becoming more concerned towards health and wellness which is further expected to propel the demand of the gym bags market. Asia Pacific is expected to expand with the highest CAGR due to increasing disposable income and an increased spending by consumers on their lifestyle. India and China are the major economies driving the growth of the Asia Pacific gym bags market. Middle East & Africa along with Latin America are expected to hold a small market share in the global gym bags market due to a comparatively small population base as well as low penetration of the health and wellness related products in the regions.
Global Gym Bags Market: Key players
Some of the key players operating in the global gym bags market are Everlast Worldwide, Inc., JensenLee, Chateau Manufacturing, ToteBagFactory, Harissons, Herschel Supply Co. USA, Nike, Inc., and Adidas AG.
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