The global school bags market size is expected to reach USD 24.6 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.6% during the forecast period. The growth is attributed to high demand for the product driven by rising number of students in primary and secondary schools.
As
per the National Center for Education Statistics, in 2018, about 56.6 million
students attended elementary and secondary schools. Growing student enrollment
is projected to boost the demand for school supplies, such as school bags. This
factor is anticipated to create growth opportunities for the market in the
forthcoming years. Government initiatives to provide basic education to all the
children is also expected to drive sales of school supplies including school
bags.
Evolving
teaching methodologies and rapid digitization have resulted in increased use of
tablets, laptops, and other electronic gadgets. These gadgets increase the
weight of the bags, which is anticipated to drive the demand for lightweight
bags and fuel innovation in terms of raw materials and manufacturing
technologies. Rising use of eco-friendly materials such as recycled plastics is
projected to positively influence the growth.
By
fabric, the school bag market is segmented into canvas, polyesters, nylon,
leather, and others. Polyesters held the largest market share in 2018 and is
expected to be the fastest growing segment over the forecasted period. High
strength of the product is anticipated to fuel the segment growth in near
future. Nylon is anticipated to hold the second largest share of the market
over the forecast period. It is also expected to register the second fastest
CAGR from 2019 to 2025.
Online
distribution channel is estimated to register the fastest CAGR over the
forecasted period owing to growing penetration of e-commerce industry coupled
with rising influence of social media on consumer purchasing decisions.
Availability of offers and discounts, quick product delivery and easy returns,
free shipping, and ease of comparison are some of the factors driving the
growth of the segment.
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School Bags
Market Report Highlights
- Polyester
fabric is estimated to be the largest and fastest growing segment during
the forecast period
- Online
distribution channel is projected to register the fastest CAGR in the
forthcoming years owing to rising internet penetration and influence of
social media
- Asia Pacific
accounts for the largest market share and is estimated to be the fastest
growing region over the forecast period, due to growing number of school
children in the region
- Some of the
key players operating in the school bags market include Samsonite
International; Targus Inc.; Nike; Puma; VIP industries; and Wildcraft
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School Bags
Market Segmentation
Grand View Research has
segmented the global school bags market on the basis of fabric, distribution
channel, and region:
School Bags Fabric
Outlook (Revenue, USD Million, 2015 - 2025)
- Canvas
- Polyesters
- Nylon
- Leather
- Others
School Bags
Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Offline
- Online
School Bags
Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
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 info visit @ https://www.grandviewresearch.com
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