Market Snapshot:
Gym bags are used to keep gym-related things such as gym shoes, towels, napkins, and other personal products. These bags are made of polyester, cotton, nylon, matty, or leather materials and can have compartments for organizing the required products such as water, energy bars, snacks, or supplements. The increasing demand for multi-compartment gym bags has driven market growth.The research analyst at AMA estimates Gym Bags market to grow at a compounded annual growth rate of 7.64%, currently pegged at USD1083.1 Million.
Segment Analysis
AMA Research have segmented the market of Global Gym Bags market by Type, Application and Region. On the basis of Type, Duffle are dominating the market and held 73.07% of market share in the year 2020 where as Drawstring stood as second largest market share and accounted for 19.81%.
On the basis of geography, the market of Gym 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 Trend
Personalization of Gym Bags for Promoting Gym Businesses
Market Drivers
Increasing Inclination of a People Towards Health and Fitness and Growing Use of Printed and Designed based Gym Bags
Opportunities
Increasing Purchasing Power Of Consumers In Developing Countries, Technological Advancement with Anti-theft Bag and Growing Demand of Gym Bags through Online Sites
Restraints
In addition to the aforementioned factor, Increasing Inclination of a People Towards Health and Fitness
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
In Gym Bags Market, it has been observed that most of the companies are upgrading or introducing innovative products. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.
The key Vendors profiled in the study are Jensen Lee Corporation (United States), Everlast Worldwide, Inc. (United States), Chateau Manufacturing (Philippines), Harissons Bags (India), Nike, Inc. (United States), Tote Bag Factory (United States), Herschel Supply Co. USA (United States), Adidas AG (Germany), Rocket Bags Company (United Kingdom), G.F.F. Fitness Equipment Manufacturers (Germany), Wenzhou ZYFS Bag Co., Ltd. (China) and Fujian East Promotions Co., Ltd. (China). A lot of United States and European players are profiled in the research study indicating a strong market dependence.