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Retailers Focus on Revamping Marketing Strategies to Boost Sales during COVID-19

The sale of non-essential consumer goods such as camera bags and gear has dipped significantly during the COVID-19 pandemic. The first quarter of 2021 is predicted to look bright in terms of high-end travel and camera gear retail. Changing people’s perspective toward coronavirus and adherence to safety measures are helping to replenish growth of the camera bag market. The growing eCommerce business is another key driver keeping economies running during the ongoing pandemic. San Francisco-based design company Peak Design is revamping its marketing strategy with discounts and offers to boost product uptake. This is expected to drive the camera bag market during the forecast period.

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Camera Bag Versus Camera Backpack: Which is Better?

The camera bag market is projected to surpass the revenue of US$ 3.3 Bn by the end of 2030. However, pros and cons of camera bags overlap with camera backpacks. Camera bags help to keep the camera gear incredibly organized and easily accessible. However, it has been found that big and clunky equipment are difficult to fit in camera bags. This has led to the popularity of camera backpacks, and is translating into incremental opportunities for manufacturers and retailers. Nowadays, photographers are owning both bags and backpacks as per project requirements.

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Integrating Additional Gear in Camera Bags Helps Bolster Product Uptake

Innovative camera bags such as Holdfast Gear’s Roamographer camera bags and sightseer backpacks are gaining popularity among videographers. Manufacturers in the camera bag market are introducing cloth-based separate compartments, which prevent the damage to camera gear, owing to rough handling of bags. They are increasing their design efforts to integrate additional gear on the outside of the bag such as features to carry a tripod in order to increase sales. Manufacturers are experimenting with materials such as leather that omit the need for frequent bag cleaning.

Anti-theft, GPS Tracking Pave Way for Smart Camera Backpacks

The trend of smart backpacks is storming the camera bag market. Lumzag— a supplier of smart and innovative backpacks is introducing remote anti-theft alarms, wireless charger, inside light, and other lucrative features to boost product sales. The competition has become intense in the camera bag market since manufacturers are increasing their R&D and design capabilities to integrate real-time GPS (Global Positioning System) tracking in bags to let individuals know the exact location of their smart backpacks. The open alert technology prevents the opening of bags except for the bag owner.

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Analysts’ Viewpoint

Wireless charging, eCommerce, and marketing strategies play a key role in reviving the demand for non-essential goods such as camera bags during the coronavirus pandemic. Manufacturers in the camera bag market are increasing their production of shoulder bags, roller bags, and backpacks to diversify their supply chains. However, the market is estimated to clock a sluggish CAGR of ~3% during the forecast period, as there is high supply and low demand, owing to increased competition in the smart backpacks and camera bags sector. Hence, manufacturers and retailers should expand their business via eCommerce and social media marketing to earn revenue.

Camera Bag Market: Overview

  • According to Transparency Market Research’s latest research report on the global camera bag market for the historical period 2018–2019 and the forecast period 2020–2030, camera bags are becoming popular due to increasing production of cameras, filters, and their accessories, along with the rising number of photographers. These factors are expected to boost the global camera bag market during the forecast period.
  • Increasing purchasing power is influencing end users to opt for consumer electronic products such as cameras and their overall accessories. This is likely to drive the camera bag market. In addition, camera bags help photographers in the safe handling of cameras, and protects the camera from poor weather, accidents, and theft.
  • In terms of revenue, the global camera bag market is estimated to exceed the value of US$ 3.3 Bn by 2030, expanding at a CAGR of ~3% during the forecast period

Increasing Number of Camera Users: A Key Driver

  • Continuous increase in the number of camera users across the globe has created immense opportunities for manufacturers and distributors of camera bags. Moreover, factors, such as rising demand for comfortable camera bags from users, along with rising trend of using camera safety products have significantly driven the demand for camera bags globally. Different international brands are associating with professional photographers by offering them several accessories, which is likely to promote the sale of camera bags.
  • Users perceive cameras as an essential gadget, as it helps in gathering memories through photography. Several eCommerce channels are offering users advanced products with high discount, along with attractive offers, which may encourage them to opt for camera bags. Major brands are likely to focus on innovation of new camera bag design and research & development to strengthen their foothold in the global camera bag market.
  • Considering all these factors, the impact of this driver is moderate currently, and the impact is expected to become high due to the likelihood of increasing innovation in camera bags during the forecast period from 2020-2030

Camera Bag Market: Market Trends

  • Rapid expansion of the camera industry coupled with high demand for camera accessories is likely to drive the global camera bag market during the forecast period
  • Rising popularity of several eCommerce channels, along with the growing popularity of fashionable graphic printed camera bags leads to the growth of the camera bag market across the globe
  • In addition, rising interest in using cameras among users for photography and videography has led to the growth of the camera bag market. Increasing usage of lightweight camera bags is a recent trend, thus driving the market.

Camera Bag Market: Competition Landscape

  • Detailed profiles of providers of camera bags have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global camera bag market are
    • Artantik LTD
    • Benro USA
    • Crumpler Pty Ltd.
    • Gura Gear, LLC
    • Lap Shun Manufacturing Co Ltd.
    • M Billingham & Co Limited
    • The Tiffen Company, LLC
    • The Vitec Group plc
    • Case Logic Group

Camera Bag Market: Key Developments

  • Providers of camera bags such as The Tiffen Company, LLC, Crumpler Pty Ltd., Gura Gear, LLC, and M Billingham & Co Limited are focusing on making cost-effective camera bags to attract more customers. Furthermore, companies are undertaking mergers & acquisitions, and joint ventures with local players to expand their product portfolio. Some other key developments in the global camera bag market are highlighted below:
    • In 2020, Lowepro launched a camera bag namely, ProTactic BP 350 AW II, which is a modular backpack made of neoprene, also suitable to carry a flash holder, a tripod cup and straps, and a phone case for airline cabins
  • In the global camera bag market report, we have discussed individual strategies, followed by company profiles of providers of camera bags. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global camera bag market.

Camera Bag Market – Scope of the Report

Transparency Market Research’s recent report on the camera bag market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the camera bag market analyzes the scenario for the period 2020 - 2030, wherein 2019 is the base year and 2018 is historical data. The report enables readers to make important decisions with regard to their business, through a wealth of information enclosed in the study.

This TMR study on the camera bag market provides data on the developments undertaken by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with trends and restraints in the landscape. Presented in a clear sanctioned manner, the report on the global camera bag market gives readers an individual understanding of the market.

Key Questions Answered in This Report on Camera Bag Market

  • How much revenue will the camera bag market generate by the end of the forecast period?
  • What application of camera bags is likely to gain the maximum market share by 2030?
  • What regions currently contribute the maximum share to the overall camera bag market?
  • What are the indicators expected to drive the global camera bag market?
  • Which region is likely to be a lucrative market during the forecast period?
  • What are the essential strategies incorporated by key stakeholders in the global camera bag market to expand their geographical presence?
  • What are the major advancements witnessed in the global camera bag market?

The report answers these questions and more about the global camera bag market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Camera Bag Market – Research Methodology

TMR’s report on the global camera bag market is based on a complete and comprehensive evaluation of the market backed by secondary and primary sources. The competitive scenario of the global camera bag market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the global camera bag market arrive at predictions and estimations, and calculate the forecast for the market.

The report uses an analytical triangulation method to estimate the numbers and figures of the global camera bag market with both bottom-up and top-down approaches.

The detailed assessment of the global camera bag market, along with an overview of the landscape is provided based on a careful examination of the avenues related to this market. Analysts’ conclusions on how the global camera bag market is set to grow are based on carefully vetted primary and secondary sources.

Camera Bag Market – Segmentation

The report on the global camera bag market provides information on the basis of type, material, price category, distribution channel, end use, and region.

Type

  • Shoulder Bags
  • Backpacks
  • Sling Bags
  • Cases
  • Others
Material
  • Polyester
  • Leather
  • Cotton
  • Nylon
  • Others
Price Category
  • Low
  • Medium
  • High
Distribution Channel
  • Online
  • Offline
End Use
  • Professional Photographers
  • Non-professional Photographers
Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

The study discusses the underlying trends and impact of various factors that drive the global camera bag market, along with their influence on the evolution of the market.

The study also offers Porter’s Five Force Analysis, value chain analysis, key trends analysis, SWOT analysis, raw material analysis, COVID-19 impact analysis, brand analysis, consumer buying behavior analysis, and price trends at the regional level of the camera bag market in order to highlight the crucial growth tactics and opportunities for market players.

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Camera Bags Market

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