In the bag: Import competition will increase despite growing downstream demand
Backpack and courier bag manufacturers make backpacks, outdoor packs and courier bags. These products are used for school, work, sports and outdoor activities. Operators benefited in the years immediately preceding the pandemic, as massive wage growth and high incomes boosted spending on the industry's products. COVID-19 led to school closures, which reduced demand for school bags, causing revenue to creep downward in 2020. As consumers became more concerned about viruses, they sought outdoor activities that involved little human interaction, such as hiking. Surging demand for outdoor activities increased spending on technical packs, significantly contributing to revenue growth.
Operators in this industry manufacture backpacks and courier bags from various materials, including canvas, rubberized fabric and plastic-based materials. Backpacks are typically designed for school or outdoor use and typically have two straps that go over each shoulder. Courier bags, often called messenger bags, are worn across the body.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
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