NEWARK, DE / ACCESSWIRE / November 14, 2022 / The global Backpacker Gears market is estimated at approximately US$ 900 Mn in 2022 and is projected to reach US$ 1.77 Bn by 2032, at a CAGR of 7.0% from 2022 to 2032. Share of backpacker gears market in its parent market (Hiking & Equipment Market) is approximately ~10%-15%.
Customers’ shifting priorities toward living healthier lives, for their mental health, or to relax from a hectic lifestyle have prompted the market for backpacker gear to expand. The market for backpacker gear is being driven by the growing connection of young people, particularly millennials, with activities like biking, camping, and new events or campaigns of trekking and hiking.
To cater the needs and expectations of the travelers the companies are investing in research and development for building an innovative product that will give comfort and will be convenient while traveling.
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Biolite company manufacture traveling burner called campstove 2+ with an advance technology. The device has an on-board battery of 3200 mah that can charge device. The main feature of this burner is it generates electricity from heat of the burner. Then it’s even light weight so travelers can carry this product while travelling, hiking etc. Besides this, there are various other products like ultra-light led tends, electric portable bag packs that’s charge with the movement of traveler, flash cooking system, clothes with liners adaptive to changing environment and many more from other manufacturers of the market.
As such, the backpacker gears market is estimated to expand at a CAGR of over 7.0% throughout the forecast period of 2022-2032, to be valued at US$ 1770.44 Mn by the end of 2032.
Key Takeaways from the Backpacker Gear Market Study
The innovative product launch from leading manufacturers of backpacker gears in going to evolve market trends. With new and innovative technology such as lightweight gears, gps enhanced bags, eco-friendly gears are attracting the customers in the market.
North America is the largest market for backpack gears. According to Outdoor Foundation report in year 2020, over 7 million above age 6 American have participated in at least one outdoor activity. With overwhelming participation in outdoor activities create better market opportunity for backpacker gear market.
The key market players making strategic alliance with key online retailers is driving the sales for backpacker gears in the market. For instance, in the year 2018 the Walmart acquired the leading outdoor retailer Moosejaw selling high end brand of backpacker gears in the market.
Impact of COVID-19 on the Market
The COVID-19 epidemic had a negative impact on the backpacker gears market. The government restrictions of lockdown during pandemic discourage travellers to take active participation in outdoor activities. With increasing fall in tourism industry internationally and domestically the backpacker gears manufacturers faced negative effect due to shrunk in demand and supply for their product globally.
The supply chain was disrupted due to which various brands and companies of backpack gears market suffered heavy loss by losing their potential clients as well as the opportunity of new client. In post pandemic situations the government has the open the boundaries for travellers and hence, the market is expected to grow. The operation of manufacturing companies and supply chain is getting smoother eventually. Also, people are getting vaccinated and therefore there will be high chances of people taking active interest and participation in outdoor activities. With high participation there will be again high demand for backpacker gears product.
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Who is winning?
Leading manufacturers of backpacker gears market are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of faith based tourism globally.
Major players present in the backpacker gears market are VF Corporation (The North Face), Black Diamonds Equipment Ltd., Amer Sports (Salomon & Arc’teryx), Newell Brands (Marmot Mountains LLC.), AMG Group, Tatonka GmbH, Wildcraft, Mont-Bell Co. Ltd., Sierra Designs, Rebook, Adidas, Outside Interactive Inc., Craghoppers, Quechua, Wodlands, Decathlon among others.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the global backpacker gear market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on backpacker gear market based on product type (Clothes, Footwear, Backpacks, Equipment & Others (Tents, Sleeping pads/bags, Stove and Fuel, Repair Kit), application type (Trekking, Rafting, Hiking, Camping, Skiing, Others), distribution channel (Specialty Stores, Retail Stores and Online), consumer orientation (Men, Women & Children), age group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years) and across seven major regions.
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Table of Content
1. Executive Summary
1.1. Global Backpacker Gear Market Outlook
1.2. Tourism Evolution Analysis
1.3. FMI Analysis and Recommendations
2. Market Introduction
2.1. Total Spending (US$ Mn) and Forecast (2022-2032)
2.2. Number of Backpack Gear users and Forecast (2022-2032)
2.3. Total Spending Y-o-Y Growth Projections (2022-2032)
2.4. Number of Backpack Gear users Y-o-Y Growth Projections
3. Global Tourism Industry Analysis
3.1. Backpacker Gears Industry Overview
3.1.1. Backpacker Gear Industry Contribution To Global GDP
3.1.2. Backpacker Gear Contribution To Global Overall Employment
3.1.3. Backpacker Gear Industry Growth Rate
3.1.4. Foreign Visitor Exports As Percentage of Total Exports
3.1.5. Capital Investment In Backpacker Gear Industry
3.1.6. Different Components of Backpacker Gear Market.
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