The Latin America, Middle East and Africa Active Backpack Market would witness market growth of 11.5% CAGR during the forecast period (2023-2030).
Personalization will be the future of backpacks industry. The most likely progression will involve a range of interchangeable parts that can be used to build different styles with same backpack. For instance, a backpack can come with various adjustable straps that one can use by their preferences or needs. The capacity of bags to safeguard numerous gadgets, including laptops, is a significant factor increasing the demand for them. Increased demand for backpacks is partly a result of large technology companies like Apple being more well-known. Backpacks are becoming increasingly essential as more people use modern technology.
The market has recently experienced a substantial increase owing to the expanding younger population's interest in adventurous activities and the increased awareness about recently discovered travel places. Future market expansion for backpacks is further supported by expanding demand for sacks at the workplace. In addition, the demand for backpacks among students of different age groups, employees, and travellers across the region is increasing gradually, as they enable consumers to carry belongings safely. The increased demand for backpacks is driven by bag manufacturers' innovative use of smart technology in their backpack designs.
In 2016, the travel & tourism sector has contributed AED 68.5 billion (USD 18.7 billion) to the UAE's GDP or 5.2% of total GDP. From 2017 to 2027, it is projected to rise by 5.1% per year, reaching AED 116.1 billion (USD 31.6 billion), or 5.4% of the nation's GDP. Travel and tourism contributed AED 159.1 billion (USD 43.3 billion), or 12.1%, of the UAE's total GDP. It is anticipated to grow by 4.9% annually to AED 264.5 billion (USD 72 billion), or 12.4% of GDP, in 2027. the region's market is anticipated to foster the expansion and growth of the tourism sector.
The Brazil market dominated the LAMEA Active Backpack Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $183.2 million by 2030. The Argentina market is anticipated to grow at a CAGR of 12.1% during (2023 - 2030). Additionally, The UAE market would witness a CAGR of 11.2% during (2023 - 2030).
Based on Type, the market is segmented into Sports, Camping & Travelling, and Hiking/Trekking. Based on Price Point, the market is segmented into $51 - $100, $101 - $150, $151 - $200, Under $50, and Above $201. Based on Size, the market is segmented into 20L-40L, 10L-20L, and Less than 10L. Based on Distribution Channel, the market is segmented into Specialty Stores, Retail Stores, and Online. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Active Backpack Market is Projected to reach USD 10.1 Billion by 2030, at a CAGR of 8.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsonite International S.A., JanSport (VF Corporation), Osprey Packs, Inc. (Helen of Troy Limited), Vista Outdoor, Inc. (CamelBak Products LLC), Columbia Sportswear Company, ANTA Sports Products Limited, Deuter Sport GmbH (Schwan-Stabilo Group), Exxel Outdoors, LLC, and Patagonia, Inc.
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