The Latin America, Middle East and Africa Gym Bag Market would witness market growth of 13.8% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 4,427.06 thousand units, showcasing a growth of 15.6% (2024-2031).
Drawstring bags are versatile, lightweight, and popular for a range of uses, including gym, sports, casual outings, and travel. Their compact design and easy accessibility make them ideal for carrying essentials like clothes, shoes, or personal items. One major advantage is their simplicity; they are easy to open and close and offer ample storage while being space-efficient. Thus, the Brazil market is expected to utilize 980.55 Drawstring bags by 2031.
The Brazil market dominated the LAMEA Gym Bag Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $75.2 Million by 2031. The Argentina market is registering a CAGR of 14.7% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 13.4% during (2024 - 2031).
The popularity of health trends such as CrossFit, yoga, and group fitness classes has contributed to the adoption of gym bags. As more individuals participate in specialized fitness activities, the need for dedicated gear bags becomes increasingly apparent.
Moreover, the athleisure trend, where activewear is worn in everyday settings, has propelled the adoption of stylish gym bags that complement this lifestyle. Consumers seek functional gym bags that align with their fashion sensibilities, driving demand.
Nigeria's rising disposable income profoundly affects the gym bag market, signalling a broader shift in consumer behaviour and market dynamics. According to the National Bureau of Statistics, Nigeria’s National Disposable Income has exhibited growth since the fourth quarter of 2021. This momentum continued into 2022, with a notable annual growth rate of 2.45%. The third quarter of 2022 saw a 1.08% increase in disposable income, while the fourth quarter of 2022 saw a 4.98% increase compared to the same periods in 2021. This upward trend highlights the strengthening economic conditions and the increasing financial stability of Nigerian households.
Free Valuable Insights: The Worldwide Gym Bag Market is Projected to reach USD 3.2 Billion by 2031, at a CAGR of 11.5%
Based on Distribution Channel, the market is segmented into Offline and Online. Based on Gender, the market is segmented into Men, Women, and Kids. Based on Product, the market is segmented into Duffle, Drawstring, and Other Products. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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 Country (Volume, Thousand Units, USD Billion, 2020-2031)
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