Technavio’s latest report on the global outdoor backpacks market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global outdoor backpacks market from 2017-2021. (Photo: Business Wire)
The market size of outdoor backpacks is expected to grow to USD 3.15 billion by 2021, growing at a CAGR of over 4%. North America is expected to generate the highest revenue and maximum incremental growth through the forecast period.
There is a high demand for outdoor backpacks from North America due to growing support from governments for outdoor activities. Adventure tourism is gaining popularity with increasing affordability for recreational activities like hiking, trekking, safari, kayaking, and cruising. These are creating a direct demand for outdoor backpacks, thus driving market growth.
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The top three emerging trends driving the global outdoor backpacks market according to Technavio research analysts are:
- Use of advanced technology to improve product features
- Increase in the development of campsites
- Customization facility for women backpacks
Use of advanced technology to improve product features
“The key vendors in the market are continuously innovating regarding materials, weight, and quality to satisfy a larger consumer base and establish a strong foothold in the market. The demand for these technologically advanced backpacks is constantly increasing due to the rise in the complexities of natural environments and evolving consumer tastes,” says Brijesh Kumar Choubey, one of the lead analysts at Technavio for outdoor gear research.
Arc'teryx, one of the key vendors, utilizes perfluorinated chemicals (PFCs) to make waterproof outdoor backpacks. Marmot Mountain, another key vendor, designs outdoor recreational activity equipment to withstand extreme weather conditions, making them super durable. To provide waterproof backpacks, the company uses a cutting-edge collection of water-resistant and waterproof technologies like NanoPro and Gore-Tex. Such innovative product offerings will bring in significant revenue to the market.
Increase in the development of campsites
Campsites can range from simple levelled-out mud lands with basic facilities to commercial sites with shops, swimming pools, and resorts. The commercial campsites have elevated the level of comfort and use advanced camping equipment, which makes campsites very comfortable and safe. This is expected to drive the demand for outdoor backpacks for long-duration trips. Additionally, the adventure seeking millennials and the older generations seeking for non-strenuous recreational activities, are expected to drive the popularity of camping.
Customization facility for women backpacks
“With the evolution of backpack designs, sizes, and styles over the last decade, many vendors in the market are developing customized backpacks for specifically made for women. These backpacks sport a shorter torso length, which is more suitable for female adventurists. These backpacks also provide enhanced aesthetic appeal, shape, setup, spaciousness, and privacy,” says Brijesh.
Mountain Hardwear, one of the key vendors, has introduced backpacks that are designed to offer comfort to women travelers by fitting a back panel and shoulder straps. Other competitors who offer backpacks specifically for women are Osprey and The North Face. These innovations are expected to propel the growth of the market during the forecast period.
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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