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Gym Bag Market Size, Trends, 2019-2025 | Industry Analysis Report

Gym Bag Market Analysis Report By Product, By Distribution Channel And Segment Forecasts From 2019 To 2025

Report ID: MN17619674  |  Published: May 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global gym bag market size was worth USD 1.0 billion in the year 2018 and is expected to grow at a CAGR of 7.9% from 2019 to 2025. The rising inclination of the global population towards fitness and health is the major driver for the product. Furthermore, the adoption of fitness products and other accessories like headphones, specialty shoes, post-workout snacks, towels, and bottles has surged the demand for gym bags that offer convenience in carrying these products.

The rise in the middle-class population in developing countries has led to a higher disposable income which is expected to boost the demand for gym bags. Higher purchasing power allowed them to choose fashionable, premium, and on-trend products in the fitness and health domain. The rapidly increasing e-commerce sector and the number of product launch further contribute to the growth of the market. Prominent companies are focusing on manufacturing gym bags based on consumer preferences. These bags are then showcased across different offline and online channels.

U.S. gym bag market

Many multinational companies encourage their employees to purchase memberships in health clubs to maintain a healthy lifestyle, thereby, contributing to the demand for gym bags. These bags are compatible with different smart devices, which, in turn, is expected to open new avenues for the companies in the market. Furthermore, the thriving tourism industry in countries like India and China is also expected to boost the market. These countries have observed a significant rise in the number of fitness centers to influence the tourists and thereby, surge the product demand in the future.

Small manufacturers are focusing on product development and innovation to challenge the established players. For example, the introduction of anti-theft bags provided with in-built charging ports, locking pockets, anti-slashing fabric, and RFID tracking and blocking options has attained widespread recognition in catering consumer’s requirements. The growing number of fitness campaigns and advertising has also guided the consumers about benefits provided by gym bag. 

Product Insights

The duffle bags held the largest share of 72.7% in 2018. These bags are larger in size; thus, provide ample space for carrying multiple products. Duffels with zippers and pockets, and separate divisions attract a larger customer base owing to their convenience. The rising demand for branded products has fostered sales of fitness products among millennials thereby, driving the gym bag market growth. Furthermore, the drawstring bags are projected to register the highest CAGR of 9.5% over the forecast period. These bags have higher durability and provide ease in carrying thereby, fueling its demand.

Distribution channel Insights

Offline channel held the largest market share of 86.6% in 2018. The growing sales through offline channels are attributed to various benefits such as physical verification, and quality-check in terms of size and space. Additionally, the widespread availability of products in specialty stores, hypermarkets, and supermarkets with different brand choices has contributed to the increase in the volume of sales of this segment. The prevalence of offline distribution channels is expected to benefit this industry.

Global gym bag market

The online distribution channel is expected to grow at a CAGR of 9.3% from 2019 to 2025. The rapidly increasing e-commerce sector, with giants like Amazon, Alibaba, eBay, BestBuy, and Flipkart, is the key factor driving the segment. These online portals provide a variety of accessories and gym bag at attractive rates and other offers relating to payment along with excellent delivery mechanism thus, providing a better shopping experience to the consumers and driving the segment growth.

Regional Insights

North America held the dominant position with a share of 38.3% in 2018. The rising awareness among consumers regarding fitness has surged the demand for gym bags and related accessories. Additionally, Americans are willing to spend more on fitness clubs, which is further expected to contribute to the gym bag market growth in this region. North America is expected to register a CAGR of above 5.0% from 2019 to 2025.

Central & South America is anticipated to account for the highest CAGR of 10.7% from 2019 to 2025 due to rising fitness trend among populations in countries, mostly Argentina and Brazil. The changing lifestyle pattern and habits in the region have propelled the demand for gym products and accessories. Further, the growing number of health and fitness centers is expected to boost the regional growth in the upcoming years. The rising disposable income in countries like South Korea, Japan, China, and India is predicted to open lucrative opportunities for the product in Asia Pacific.

Gym Bag Market Share Insights

The key manufacturers include Everlast Worldwide, Inc.; JensenLee; Harissons; Chateau Manufacturing; Nike, Inc.; Adidas AG; ToteBagFactory; and Herschel Supply Co. USA. Market players are focusing on strategies like mergers and acquisitions, capacity expansions, and product innovation to increase their business potential. Countries like Brazil, Mexico, Italy, and Germany have observed a higher demand for gym essentials owing to the rise in the health industry thereby, attracting market players to expand their businesses. 

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Billion& CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country Scope           

U.S., Germany, U.K., Japan, China, Brazil, and South Africa

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global gym bag market report on the basis of product, distribution channel, and region:

• Product Outlook (Revenue, USD Billion, 2015 - 2025)
    • Duffle
    • Drawstring
    • Others

• Distribution channel Outlook (Revenue, USD Billion, 2015 - 2025)
    • Online
    • Offline

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa
        • South Africa

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