School Bags Market to Witness Steady Growth through 2025
April 29, 2022
Apr 29, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the School Bags Market.
It was estimated prior to this unanticipated outbreak that the School Bags Market is likely to witness an impressive CAGR of 5.8% during the forecast period. Increasing efforts by government to encourage education for children, along with growing student enrollment ratio and increasing focus on providing basic education to children are the prime factors contributing to the demand for school bags. Increasing student enrollment is further resulting in the rising number of schools and colleges across the world which is further boosting the demand for school supplies including school bags. Rising trends among students to opt sturdy and spacious school bags with gadgets compatibility is further fueling the growth of the market.
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Market Scope & Segmentation
A school bag is a bag that is used for transporting different materials for school and colleges, such as books, exercise books, and other school supplements on the back such as a backpack. Rising focus for providing basic education to children is attributing to the rising number of schools and colleges along with students across the world. Adoption of new teaching methodologies and increasing focus on extracurricular activities by schools and colleges are necessitating the use of laptops and tablets among students, which in turn, is fueling the demand for gadgets compatible school bags. Growing adaptability for spacious, good looking, and sturdy bags as per the shifting trend is being prevalent among kids. In addition, the usage of recycled plastic for manufacturing such bags is expected to positively impact the growth of the market over the forecast period.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Market Segmentation
By Product Type
Based on the product type, the market is segmented as canvas, polyesters, nylon, leather, and others. The polyesters segment held the largest share of the market in 2019. The dominance of the segment is mainly because of polyester offering higher strength compared to other fabrics. The waterproof nature of the fabric makes it durable for manufacturing sturdy school bags.
By Distribution Channel Type
Based on the distribution channel type, the school bags market is segmented as offline and online. The offline segment held the larger share of the market in 2019, whereas the online is likely to be the faster-growing segment. The dominance of the offline segment is mainly due to the increasing number of supermarkets and hypermarkets offering more options for consumers to make a perfect purchase decision.
By Region
In terms of regions, Asia-Pacific is estimated to be the largest market during the forecast period, with China, India, and Japan being the countries with lucrative growth opportunities. The growth of the region’s market is mainly driven due to the rising population and awareness regarding child education across countries such as India and China. Increasing government efforts to encourage children for proper education, along with the rising number of school and colleges is also a key factor determining the growth of the market in the region.
Key Players:
Key players operating in the global School Bags market are-
- NIKE, Inc.
- Puma SE
- Delsey SA
- Targus Inc.
- VIP Industries Ltd.
- Oasis Bags
- Herschel Supply Company
- Samsonite International SA
- VF Corp.
- LVMH Moët Hennessy - Louis Vuitton
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The School Bags analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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