Global School Bags Market Size To Exceed USD 34.17 Billion By 2033 | CAGR of 4.26%
Category: Consumer GoodsGlobal School Bag Market Size To Exceed USD 34.17 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global School Bag Market Size is expected to grow from USD 22.51 Billion in 2023 to USD 34.17 Billion by 2033, at a CAGR of 4.26% during the forecast period 2023-2033.
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Browse key industry insights spread across 250 pages with 104 Market data tables and figures & charts from the report on the "Global School bag Market Size, Share, and COVID-19 Impact Analysis, By Fabric (Canvas, Polyester, Nylon, and Leather), By Distribution Channel (Offline, Online), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/school-bags-market
The school bags contain schoolbooks and stationery, such as pencils, writing pads, and other icols. School bags are produced from different materials, such as Leather, Jute, Nylon, Synthetic fibers, and Polyester. The student population across the globe has grown steadily over the last few years. For instance, approximately 452 million students were enrolled in secondary school in 2000; however, this figure went up to more than 601 million students in 2019. Further, the largest global schools are experiencing a massive expansion of student intake across nations like China, India, the UAE, and Saudi Arabia. This increase in the student enrolment ratio drives demand for school bags, thereby driving the school bags market growth. Additionally, many are following sustainability, producing environmentally friendly bags using recycled or biodegradable materials. Partnerships with popular pop culture franchises to create licensed bags are prevalent, leveraging the youth market's love for popular culture. Moreover, key players are putting significant resources into marketing and branding campaigns, employing conventional and electronic media alike to capture wider reach. Growth in e-commerce has driven a shift towards distribution strategies, with more emphasis on online retail channels to grow the market reach and consumer convenience. However, supply chain management complexities such as raw material sourcing, manufacturing lead times, and distribution logistics impact product availability and cost. Additionally, the challenge in the market is that Issues of product quality, safety regulations, and regulatory compliance impact consumer confidence and brand image.
The polyester segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the fabric, the global school bag market is divided into canvas, polyester, nylon, and leather. Among these, the polyester segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven by affordability and wear-and-tear resistance, making it a favorite among students and parents across the globe. Additionally, its wear and tear resistance, especially desirable for parents who want a long-term investment in their children's education.
The offline segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the global school bag market is categorized into offline and online. Among these, the offline segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to the availability of several brands, and the ease of immediate purchase also contributes to the dominance of this industry. Furthermore, growing consumer preference for the physical examination of products before buying, something that is especially relevant in the school bags segment where fit, comfort, and material quality matter.
Asia-Pacific is expected to hold the majority share of the global School bag market during the forecast period.
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Asia-Pacific is expected to hold the majority share of the global School bag market during the forecast period. Asia-Pacific dominates the market due to the growing student population and rising awareness about the importance of education, which has significantly boosted the demand for school bags. Additionally, this region, specifically China and India, is experiencing a buoyant demand based on an emerging middle class and growing expenditure on education.
North America is anticipated to grow at the fastest pace in the global School bag market during the forecast period. The growth is due rising popularity of school bags with high quality and brands among consumers, and growing disposable incomes favor market growth. Moreover, the increasing usage of ergonomic and health-friendly designs in school bags to avoid back issues among students is driving demand.
Major vendors in the global School bag market are PUMA SE, Rothco, Samsonite International SA, Sanghavi Bag, Sreeleathers, Sumdex Inc., VF Corp., VIP Industries Ltd., Wildcraft India Pvt. Ltd., ACCO Brands Corp., Bagmiller, Balaji Bag, Brainbees Solutions Pvt. Ltd., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the school bag market based on the below-mentioned segments:
Global School Bags Market, By Fabric
- Canvas
- Polyester
- Nylon
- Leather
Global School Bags Market, By Distribution Channel
- Offline
- Online
Global School Bags Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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