The Bicycle Bags And Bag-packs market size is estimated to be valued at USD 517.67 million in 2023 and is expected to hit USD 800 million by 2033. The adoption of bicycle bags and bag-packs is likely to advance at a CAGR of 4.4% during the forecast period.
Revenue from bicycle bags and bag-pack sales currently account for an 11% share in the global bicycle accessories market.
People have begun to understand the importance of being fit and living a healthy lifestyle. They have also realized that cycling daily can help prevent several diseases, including obesity. Despite sales challenges in some countries, the cycling trend is on the rise. As more individuals turn towards cycling as a regular method of exercise, the market is expected to expand, which is subsequently driving the sales of bicycle bags and bag packs. Bicycle component demand will increase in lockstep with bicycle sales growth.
Future market insights predict a comparison and review analysis for the dynamics of the bicycle bags and bag-packs market, which is principally subjected to an array of industry factors along with a few definite influences concerning viewpoints that support industry innovation. Some new advances that have taken place in the market include manufacturers also focusing on improving the product design to attract customers.
Key reasons for this change in growth rate are attributed to steady uptake of the market during the first half of the forecast period, owed to the rise in the number of bicycle long tours, rise in cycling apps, working riders, fitness sessions, local races, and global competitive events are some of the primary factors for this growth. Manufacturers are encouraging brand ambassadors to promote bicycle bag and bag-pack sales by spreading a positive message, boosting brand awareness on social media, and uplifting their brands.
For instance, in 2019, Shimano Inc. introduced the brand new cycling footwear. The new RC5 and RC5W (SH-RC500) mid-range road cycling shoes are innovatively designed with enhanced functional features. Despite these prospects, there are some likely challenges that stay ahead for the industry, which include Higher Costs of Bicycle Bags and Bag-packs to Hamper Growth in Developing Regions and a lack of Dedicated Cycling tracks.
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 517.67 million |
| Projected Market Size (2033) | USD 800 million |
| CAGR through (2023 to 2033) | 4.4% |
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A bag pack, also known as a rucksack, knapsack, sack pack, or back sack, is a fabric sack designed in its most basic form, of carrying on one’s back. However, it can have various forms of frames.
Long bicycle tours are becoming increasingly famous among the youths around the globe. The spike in the number of long bicycle tours is due to the rise in cycle tourism and& tours for a social purpose. Long tours necessitate a variety of travel bags to transport the basics for the journey.
Global sales of bicycle bags and bag-packs increased at a CAGR of 3.9% from 2018 to 2022 and are expected to progress at a higher CAGR of 4.4% from 2023 to 2033. As a result, the global bicycle bags and bag-packs market is predicted to reach a valuation of USD 800 million by 2033.
Manufacturers are encouraging brand ambassadors to promote bicycle bag and bag-pack sales by spreading a positive message, boosting brand awareness on social media, and uplifting their brands. Consumers regard brand ambassadors as quite credible and value their advice.
Manufacturers are pushing their products through brand ambassadors as a multi-purpose fashion trend, resulting in widespread consumer adoption of bicycle bags and bag-packs. Manufacturers are also focusing on improving the product design to attract customers.
The rise in the number of bicycle long tours, rise in cycling apps, working riders, fitness sessions, local races, and global competitive events are some of the primary factors driving the bicycle bags and bag-packs market, among others.
An increase in market research and development activities, as well as an increase in demand for bicycle bags and bag-packs from emerging nations, will provide new chances for the bicycle bags and bag-packs market during the projection period.
According to FMI research, Europe dominates the global market for bicycle bags and bag-packs. The majority of European countries are bike-friendly. A large portion of the European population regularly uses bicycles.
Bicycle utilization is highest in nations such as the Netherlands, Denmark, Belgium, and Germany. Furthermore, the people in this area are well aware of the necessity of bicycle accessories.
In Europe, there are also no-car days and numerous cycling trips and festivals. This encourages the use of bicycles, and as a result, consumers in this area are more likely to acquire bicycle bags and bag-packs because they need them frequently.
The Asia Pacific bicycle bags and bag-packs market is predicted to expand at a high CAGR over the forecast period. The growing popularity of mountain bicycling as a leisure and adventurous sport in countries such as China, Japan, and Singapore is expected to fuel regional bicycle bags and backpack market growth.
Bicycle bags are in high demand in this region, thanks to a surge in internet transactions and a growing number of specialty sports product retailers.
Bicycles have a sizable market in the United States. The bicycle market in the United States was worth roughly around USD 9.5 billion in 2021. This graph depicts the popularity of bicycling in the United States.
Bicycle bag sales are directly boosted by the growing popularity of cycling. As a result, as the market for bicycles expands, so does the demand for bicycle bags and bag-packs.
The market for bicycle bags and bag-packs is booming in Germany. Bicycles are the ideal mode of transportation in both urban and rural areas. Females’ rising preference for cycling has gained traction.
There are numerous cycling paths in Germany. Over 70% of the German population owns a bicycle and knows how to ride it properly. As a result, all of the aforementioned causes boost the sales of bicycle bags and bag-packs.
In 2023, cycle carrier bags are expected to account for 89% of the global market share. Due to increasing demand and customer awareness, cycle carrier bags has the largest market share in the global bicycle bags and bag-packs industry.
Bag-packs are likely to hold 12% of the global market share. Due to increased bag pack trend and increased storage space for the product, bag-packs are predicted to grow significantly during the forecast period. From a historical and recreational standpoint, it is believed that there is a rise in women riding bicycles more than males.
Over the last decade, however, there has been a massive growth in the number of women riders. As a result, there has been a significant increase in women bicycling activities, which has increased the demand for bicycle bags and backpacks.
The offline distribution channel segment is expected to account for the largest revenue share in 2023. The significant market share can be linked to the fact that a large percentage of customers prefer to buy via offline channels/stores because test-drive alternatives are available.
Offline businesses also provide personalized/customized purchasing options, allowing customers to select their bicycle bag designs & colors. Furthermore, it enables clients to obtain the product immediately. In the coming years, the availability of numerous branded bicycles at local supermarkets or other retailers is likely to drive demand for this channel.
Over the projection period, the online distribution channel segment is expected to grow rapidly. Consumer participation in online stores will increase as smartphone and internet usage increases in developing economies such as Brazil, China, India, and Mexico. As the internet's penetration is growing, vendors are increasingly turning towards online platforms like Ali Express, Amazon, Flipkart, and more to sell their goods in hitherto unexplored regions. Internet channels offer great discounts on every good, enticing customer to shop online.
The competitive landscape in the bicycle bags and bag-packs sector is an intricate tapestry of innovation and style. Established players display their prowess with diverse product ranges, leveraging decades of expertise.
Emerging contenders bring disruptive designs, embracing sustainable materials and advanced tech integration. The race to capture consumer hearts revolves around ergonomic features, weather resilience, and multifunctional adaptability. This dynamic market thrives on a balance of tradition and innovation, where authenticity and creativity determine the frontrunners. As cyclists seek both performance and personal expression, the competitive arena for bicycle bags and bag-packs continues to evolve, catering to a diverse and discerning clientele.
Product Portfolio:
| Attribute | Details |
|---|---|
| Market Value in 2023 | USD 517.67 million |
| Market Value in 2033 | USD 800 million |
| Growth Rate | CAGR of 4.4% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product, Sales Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Giant Bicycles; MERIDA BIKES; Wiggle Ltd; Deuter Sport GmbH; Inertia Designs; Lone Peak Packs; MSX; Velotransit; Trek Bicycle Corporation; TOPEAK; Ortlieb USA; Recreational Equipment, Inc.; SELLE ROYAL SPA; Merida Industry Co. Ltd.; SHIMANO INC. |
| Customization& Pricing | Available upon Request |
The bicycle bags and bag-packs market size is estimated at USD 517.67 million in 2023.
The bicycle bags and bag-packs market developed at a 3.9% CAGR from 2018 to 2022.
The bicycle bags and bag-packs market is predicted to develop at 4.4% CAGR through 2033.
The cycle carrier bags segment leads, with 89% of the bicycle bags and bag-packs market share.
Germany is likely to rise at a 4.2% CAGR through 2033.
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Bicycle Bags and Bag-packs Market
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