Sleeping Bags Market Scope
In the wind of adventure sports, the trend towards outdoor activities is increasing dramatically in the Commonwealth. When planning a vacation these days, camping has emerged as the most popular choice. With this growing trend towards mountaineering and camping, the demand for outdoor sports equipment such as sleeping bags, tents, backpacks, safety equipment, etc. is also increasing rapidly. Sleeping bags are mostly used to insulate our body from harsh climatic conditions, and they also serve as quilts, blankets, or simply bedding. The demand for sleeping bags in the market is growing rapidly due to the increase in outdoor activities such as hiking, mountain biking, climbing, and camping. The increase in demand for sleeping bags is directly proportional to the increase in the adventurous. Adventure activities not only bring you closer to nature but also serve as an inexpensive and affordable vacation that leads to more and more people engaging in such activities, which leads to increasing demand in the market for products such as sleeping bags. Sleeping bags have become an essential item when packing bags for camping activities. The growth of e-commerce is making sleeping bags and their variants more accessible to consumers and helping to increase the demand for sleeping bags in the market.
According to AMA, the Global Sleeping Bags market is expected to see growth rate of 4.0%
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Sleeping Bags market throughout the predicted period.
The Coleman Company, Inc. (United States), Teton Sports (United States), mont-bell Co., Ltd. (Switzerland), OutdoorsmanLab (United States), Wenzel Tent & Gear Co.(United States), ALPS Mountaineering (United States), Recreational Equipment, Inc. (United States), KingCamp (United Kingdom), Naturehike (China) and Sea to Summit (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are SnugPak (United Kingdom), Stansport (United States), Cnhimalaya (China), Snow Peak (Japan) and THE NORTH FACE (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Sleeping Bags market by Type (Rectangular, Mummy and Other) and Region with country level break-up.
On the basis of geography, the market of Sleeping Bags has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In 2019, NEIGHBORHOOD and Helinox had collaborated to bring in the innovative change by the introduction of aluminum in the manufacturing of sleeping bags which thereby makes them lightweight and portable.
Market Trend
- Increasing Use of E-commerce as a Channel for Selling
- Rising Adoption of Adventure Sports
Market Drivers
- Rising Participation in Outdoor Recreational Activities
- Consumers inclination towards a better lifestyle
- Increase in Disposable Income in Emerging Economies
Opportunities
- Increasing awareness about the benefit sleeping bags
- Higher warmth-to-weight ratio than synthetic insulation
Restraints
- Premium Pricing of Products
- Short Shelf-life of Products
- Incompatible in Rainy Weather
Challenges
- Threat of Substitution by Recreational Vehicles and Glamping
- Cleaning of Product Requires Special Care
Analyst View
“The use of e-commerce for selling camping bags may help leading manufacturers expand their customers base. Innovation in product quality and design, as the availability of waterproof down fill as insulation, will also increase the demand for sleeping bags. The waterproof technology is currently in the development stage. Existing players can implement it to diversify their product portfolio”
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Sleeping Bags, Government Regulatory and Research Organizations and End-Use Industries