Gym Bag Market New Opportunities For Industry Growth And Forecast To 2025 : Grand View Research Inc.

Gym Bag Market.jpg
San Francisco, 5 December 2019: The Report Gym Bag Market Size, Share & Trends Analysis Report By Product (Duffle, Drawstring), By Distribution Channel (Online, Offline), By Region, Competitive Landscape, And Segment Forecasts, 2019 – 2025

The global gym bag market size is expected to reach USD 1.8 billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.9% CAGR over the forecast period. The growth in the market is driven by increasing consumer consciousness regarding fitness and the availability of various products and accessories to suit individual needs. Moreover, rapid growth of the fitness and wellness sector in Asia and South America, along with rise in sales of health and fitness equipment, accessories, and products used in the industry and increasing presence of health clubs and fitness centers in these regions are contributing to the growth of this market.

The market is also driven by increasing purchasing power of consumers in developing countries in recent years, which has propelled product demand. Growth of the middle-income population group in these countries has resulted in higher disposable income in recent years. This has enabled them to opt for on-trend, fashionable, and premium products in the health and fitness sector. Surge in new product launches and the impact of ecommerce are other key factors driving the global market. Leading manufacturers are looking to cater to varying consumer requirements when it comes to a gym bag. These are then being made available across a host of online and offline distribution channels.

Increasing number of people turning to healthier lifestyles has also inspired several multinational companies to encourage their employees to take up health and fitness club memberships, a trend that is likely to give the market a boost. Gym bags that are compatible with various smart and connected devices is a lucrative opportunity for players in the market.

Access Research Report of Gym Bag Market @ https://www.grandviewresearch.com/industry-analysis/gym-bag-market

Further key findings from the report suggest:
  • In terms of revenue, duffle bags are projected to register a CAGR of 7.5% over the forecast period
  • The offline channel led the market with a share of 86.6% in 2018. Varied products sold at supermarkets, hypermarkets, specialty stores, and others play a critical role in driving this segment
  • North America dominated the global gym bag market in 2018, accounting for 38.3% of the revenue that year. This trend is projected to continue over the next few years
  • A growing health and fitness industry, fueled by increasing awareness regarding fitness and well-being among consumers, is expected to propel the market
  • With increasing disposable income in India, South Korea, China, and Japan, these markets offer lucrative opportunities for growth in Asia Pacific
  • The industry is highly competitive in nature with the main players being JensenLee; Everlast Worldwide, Inc.; Chateau Manufacturing; Harissons; Nike, Inc.; ToteBagFactory; Herschel Supply Co. USA; and Adidas AG
  • Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovations to estimate existing and future demand patterns from upcoming product segments.
Browse more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/clothing-footwear-and-accessories

Grand View Research has segmented the global gym bag market on the basis of product, distribution channel, and region:
Gym Bag Product Outlook (Revenue, USD Billion, 2015 - 2025)
  • Duffle
  • Drawstring
  • Others
Gym Bag Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
  • Online
  • Offline
Gym Bag Regional Outlook (Revenue, USD Billion, 2015 - 2025)
  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa
Access Press Release of Gym Bag Market @ https://www.grandviewresearch.com/press-release/global-gym-bag-market

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com

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