Workout Bag Market - Introduction
A workout bag is a large bag made from natural and synthetic material to store belongings. These bags are used to keep the essentials for workout sessions such as apparel, shoes, bottle, towel, etc. They are also carried during workout in fitness centers, and while doing yoga, athletics, etc. Workout bags also known as duffel bags were invented in Belgium.
Demand for workout bags has increased over the years due to increasing sports and athletic activity. Young people increasingly participate in these activities because of increasing support from the government and various sports organizations.
Workout Bag Market - Competitive Landscape
Adidas AG was founded by Adolf Dassler in August 1949, at Herzogenaurach, Germany. The company employs 57,000 people in 100 countries. Adidas AG produces over 900 million sports and sports lifestyle products every year.
Nike Inc. was founded in 1964 in Oregon, United States. The company was founded as Blue Ribbon Sports, by Bill Bowerman and Phil Knight and later changed its name to Nike Inc. in 1974. The company is engaged in design, development, manufacturing, and sale of apparel, footwear, equipment, accessories, and services. Nike Inc. is a major manufacturer of athletic shoes and apparel.
Planning to lay down future strategy? Perfect your plan with our Report Brochure here
Under Armour Inc.
Founded in 1996, Under Armour Inc. is based in Baltimore, Maryland, United States. The company was founded by Kevin Plankin. The company has 300 brand & factory houses present in 75 countries. It employs more than 14,000 employees in 41 offices globally.
Some of the key players operating in the global workout bag market include Aer Designs LLC, GoRuck, Pume SE, Wildcraft, LVMH, Benetton Gorup S.r.l, Samsonite International S.A., Compass Group Management LLC, JOSHU+VELA LLC, Dsptch LLC, Converse, The North Face, Carhartt, Inc. and Lululemon Athletica Inc.
Workout Bag Market – Dynamics
- Increasing Consumer Awareness about Fitness
Increasing interest in sports and rise in disposable income are fuelling the growth of the global workout bag market. Various governments have invested in games and sports which is expected to increase in sports participation and eventually drive the market. Rise in demand for performance efficient sports products which are strong and lightweight is expected to boost the growth of the global workout bag market.
- Technological Advancement in Products
Introduction of technology in gym bags is expected to drive the market during the forecast period. Introduction of fingerprint technology in workout bags has made it more secure. Digital lock in gym bags is expected to enhance the demand for the product. Moreover, introduction of anti-theft bags has made it popular among the younger generation.
- Paradigm shift of manufacturing players in the emerging Asia Pacific region
Global manufacturers are setting up their manufacturing plants and increasing distribution partners in countries such as India and China. These countries have a large proportion of young population interested in athletics and sports. Growth in number of fitness centers, gyms, etc. is expected to boost the market during the forecast period
Looking for exclusive market insights from business experts? Request a Custom Report here
Workout Bag Market – Segmentation
The workout bag market can be bifurcated on the basis of:
- Product Type
- Distribution Channel
Workout Bag Market Segmentation – By Product Type
Based on product type, the workout bag market can be divided into:
- Duffle Bags
- Drawstring Bags
- Gym Backpacks
- Tote Bags
Workout Bag Market Segmentation – By Material
Based on material, the workout bag market can be divided into:
Workout Bag Market Segmentation – By Price
Depending on price, the workout bag market can be divided into:
- Less than US$ 25
- US$ 25 to US$ 50
- US$ 50 to US$ 100
- More than US$ 100
Workout Bag Market Segmentation – By Application
In terms of application, the workout bag market can be divided into:
Workout Bag Market Segmentation – By Distribution Channel
Based on distribution channel type, the workout bag market can be divided into:
- Supermarkets/ Hypermarkets
- Specialty Stores
- Departmental stores
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.