“Global Gym Bag Market to reach a market value of 3.2 Billion by 2031 growing at a CAGR of 11.5%”
The Global Gym Bag Market size is expected to reach $3.2 billion by 2031, rising at a market growth of 11.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 57,289.42 thousand units, experiencing a growth of 15.6% (2020-2023).
The growth of e-commerce in Mexico is enhancing market accessibility and reach. Gym bag manufacturers and sellers can target a broader audience beyond physical store limitations. This expanded reach is particularly beneficial for niche and specialized gym bag brands that might not have extensive brick-and-mortar distribution networks. The prevalence of health-conscious consumers and a growing trend toward fitness lifestyles have significantly fuelled the demand for gym bags in this region. Thus, the North American region witnessed 37% revenue share in the gym bag market in 2023. In terms of volume the North America region is expected to utilize 26,151.87 thousand units of gym bags by 2031.
Today's consumers participate in various fitness activities, including yoga, pilates, strength training, and outdoor sports. This diversification requires specialized gear, prompting individuals to purchase gym bags that cater to specific activities. The demand for versatile and functional gym bags accommodating different workout needs has surged. Additionally, as more individuals become members, the market for gym bags expands as these new members seek to equip themselves with the necessary gear for their workouts. Therefore, the expansion of the fitness industry and the increase in gym memberships are driving the market's growth.
However, as consumer demand for sustainable products rises, many gym bag manufacturers are exploring eco-friendly materials. However, sustainable raw materials, such as organic cotton or recycled plastics, sometimes have higher initial costs. Fluctuations in the prices of these materials may discourage manufacturers from fully committing to sustainable practices, limiting the availability of environmentally friendly gym bags in the market. Therefore, fluctuations in raw material prices are hampering the market's growth.
Based on product, the market is divided into duffle, drawstring, and others. In 2023, the duffle segment garnered 70% revenue share in the market. In terms of volume, 60,892.4 thousand units of duffle bags are expected to utilize by 2031. This strong performance can be attributed to the duffle bag’s versatility and spaciousness, making it suitable for gym use, travel, and weekend getaways.
On the basis of distribution channel, the market is segmented into online and offline. The offline segment recorded 67% revenue share in the market in 2023. Many consumers still prefer traditional shopping experiences for their gym bag purchases. In terms of volume, 70,235.6 thousand units of gym bags are expected to be sold by offline distribution channel by 2031. Physical retail stores offer the advantage of hands-on examination, allowing customers to assess the quality, size, and design of gym bags before deciding.
By gender, the market is categorized into men, women, and kids. The women segment held 35% revenue share in the market in 2023. In terms of volume, 40,493.4 thousand units of women’s gym are expected to utilize by 2031. Women are increasingly investing in stylish and functional gym bags that cater to their specific needs, such as compartments for shoes, water bottles, and personal items.
Free Valuable Insights: Global Gym Bag Market size to reach USD 3.2 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 27% revenue share in the market. In terms of volume the Asia Pacific region is expected to utilize 62,184.92 thousand units of gym bags by 2031. Rapid urbanization, a burgeoning middle class, and rising health awareness among consumers drive this growth.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 1.4 Billion |
| Market size forecast in 2031 | USD 3.2 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 11.5% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 292 |
| Number of Tables | 670 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Gender, Distribution Channel, Region |
| Country scope |
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| Companies Included | Herschel Supply Company (Herschel Capital Corp.), ToteBagFactory (Smart-K LLC), Everlast Worldwide Inc. (Frasers Group plc), Nike, Inc., Adidas AG, Under Armour, Inc., Lululemon Athletica, Inc., PUMA SE (Groupe Artémis S.A.), Reebok International Ltd. (Authentic Brands Group LLC) and The North Face (VF Outdoor LLC) |
By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)
By Gender (Volume, Thousand Units, USD Billion, 2020-2031)
By Product (Volume, Thousand Units, USD Billion, 2020-2031)
By Geography (Volume, Thousand Units, USD Billion, 2020-2031)
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