According to Future Market Insights, working with influencers and fitness subscription services can help gym bag businesses raise awareness among their target market - increasing demand for eco-friendly gym bags made from recycled or organic materials.
NEWARK, DEL, Oct. 10, 2023 (GLOBE NEWSWIRE) -- 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. Soft Leather Tote Bag
The gym bag market has grown substantially due to the increasing global emphasis on health and fitness. This heightened focus on well-being is also expected to drive market growth throughout the forecast period. In addition, the market growth is expected to be further aided in the next ten years by various companies' proactive efforts to encourage their staff to participate in health and fitness activities.
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.
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.
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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.
“Several enthralling new developments in gym bags are expected to significantly impact the market through 2033. One noticeable trend is the incorporation of smart technology. Manufacturers are increasingly improving the efficacy of gym bags by adding features such as built-in chargers, Bluetooth compatibility, and even GPS monitoring.” opines Ismail Sutaria, Principal Consultant at Future Market Insights
Key Takeaways from the Gym bag market
In North America, the United States gym bags sector emerged as the leading market in 2023, with a 22.7% global market share.
In Europe, Germany and the United Kingdom took the lead in 2023, capturing global Gym bag market shares of 3.6% and 2.6%, respectively.
In 2023, China and India stand out as the dominant market in the Asia Pacific gym bags industry, capturing a global market share of 18.8% and 6.4%, respectively.
The duffle gym bag segment spearheads the market by bag type, commanding 37.7% of the global gym bag industry in 2023.
The nylon gym bag segment takes the forefront based on material type, possessing a 29.2% share of the global gym bags industry in 2023.
Gym bag market Size in 2022
Gym bag market Size in 2023
Gym bag market Projected Size by 2033
Forecasted Value CAGR from 2023 to 2033
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Key Players and Strategies for Success in the Gym bag market:
Here are the key market players' strategies for success in the gym bags industry:
Continuously introduce innovative and functional designs to meet the evolving needs of fitness enthusiasts.
Explore eco-friendly and sustainable materials to align with market trends toward sustainability.
Offer customization options such as color choices, monogramming, or logo placements to cater to individual preferences.
Implement strong branding and marketing campaigns to create brand awareness and recognition.
Establish a diverse distribution network, including e-commerce platforms, retail stores, and partnerships with fitness centers or specialty stores.
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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Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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