News

Nov 08, 2024

School Bags Market to Grow by USD 6.92 Billion from 2024-2028, Driven by Innovations in Materials and Design and AI-Powered Market Evolution - Technavio

NEW YORK, Nov. 6, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global school bags market size is estimated to grow by USD 6.92 billion from 2024-2028, according to

NEW YORK, Nov. 6, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global school bags market size is estimated to grow by USD 6.92 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.8% during the forecast period. Innovations in materials and designs of school bags is driving market growth, with a trend towards increased demand for school bags made of environmentally friendly materials. However, rising labor costs and fluctuating raw material prices for school bags poses a challenge.Key market players include ACCO Brands Corp., Bagmiller, Balaji Bag, Brainbees Solutions Pvt. Ltd., Decathlon SA, DELSEY, Dolce and Gabbana S.r.l., Fjallraven Retail USA LLC, Genie Bags India, Khadim India Ltd., Nike Inc., PUMA SE, Rothco, Samsonite International SA, Sanghavi Bag, Sreeleathers, Sumdex inc., VF Corp., VIP Industries Ltd., and Wildcraft India Pvt. Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 - 2022

Segment Covered

Product (Polyesters, Nylon, Canvas, Leather, and Others), Distribution Channel (Online and Offline), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

Region Covered

APAC, Europe, North America, South America, and Middle East and Africa

Key companies profiled

ACCO Brands Corp., Bagmiller, Balaji Bag, Brainbees Solutions Pvt. Ltd., Decathlon SA, DELSEY, Dolce and Gabbana S.r.l., Fjallraven Retail USA LLC, Genie Bags India, Khadim India Ltd., Nike Inc., PUMA SE, Rothco, Samsonite International SA, Sanghavi Bag, Sreeleathers, Sumdex inc., VF Corp., VIP Industries Ltd., and Wildcraft India Pvt. Ltd.

Key Market Trends Fueling Growth

The global school bags market is witnessing significant growth due to the increasing demand for eco-friendly and organic products. Traditional leather school bags have faced concerns regarding the use of tanning agents and the ecological imbalance caused by animal hunting. In response, there is a growing preference for organic leather products, certified by the USDA and the National Organic Program, which ensures ethical animal treatment and sustainable tanning processes. Kering and other manufacturers are adopting eco-friendly practices, such as using plant-based tanning agents and recycled materials. Targus, a key player, offers recycled polyethylene terephthalate (PET) polyester and PVC-free backpacks. These initiatives are expected to drive market growth during the forecast period.

The School Bags Market is thriving with trends like 3D printing and ergonomic designs. Ergobag, Backpacks, Laptop Bags, Duffel Bags, Clutch Bags cater to Kids, Teenagers, and Adults. Canvas, Nylon, and Polyester are popular raw materials. Prices range from Low to Medium to High. Government efforts promote eco-friendly materials and manufacturing technologies. RFID protection, USB charging, and tablet pockets are must-haves. School supplies, E-commerce, and online retail stores dominate sales. Lightweight bags, adjustable straps, and pockets are essential features. Unbranded players compete with leather school bags. Consumer spending increases with digital learning tools. Social media influences buying decisions. Manufacturing technologies include animal-friendly alternatives. The School Bags Market is a dynamic and growing industry.

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Market Challenges

Vendors, such as Dolce and Gabbana S.r.l., source production from factories in Asian countries like China, Indonesia, Bangladesh, and Vietnam due to historically lower labor costs. However, rising labor costs in these countries have increased production expenses, reducing vendors' profit margins. Additionally, fluctuating raw material prices, particularly for leather, pose operational challenges. Leather's high production cost results from its regulated manufacturing process. Transportation costs, including taxes, duties, and fuel prices, also impact profitability. Fuel price volatility, especially in OPEC member nations, further pressures vendors to keep end-product prices stable, limiting their ability to increase profits. These factors may hinder the growth of the school bags market during the forecast period.

The School Bags Market faces several challenges in today's business landscape. With the rise of 3D printing, Ergobag's ergonomic designs, and various bag types like Backpacks, Laptop Bags, Duffel Bags, and Clutch Bags, catering to Kids, Teenagers, and Adults, material choices range from Canvas, Nylon, and Polyester. Pricing segments include Low, Medium, and High price ranges. Government efforts towards RFID protection and e-commerce growth impact the market. Lightweight bags, raw materials, and manufacturing technologies are key trends. USB charging, eco-friendly materials, tablet pockets, and leather school bags are popular features. Animal slaughtering for leather remains a concern. Consumer spending on school supplies is increasing, driven by digital learning tools and social media influence. Adjustable straps, pockets, and unbranded players are other market factors. Online retail stores and offline sales channels coexist.

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Segment Overview

This school bags market report extensively covers market segmentation by

Product

1.1 Polyesters

1.2 Nylon

1.3 Canvas

1.4 Leather

1.5 Others

Distribution Channel

2.1 Online

2.2 Offline

Geography

3.1 APAC

3.2 Europe

3.3 North America

3.4 South America

3.5 Middle East and Africa

1.1 Polyesters - The school bag market is a significant sector with consistent demand. Parents and students prioritize functional and durable bags for daily use. Brands focus on offering diverse designs, sizes, and materials to cater to various needs. Competition is fierce, with several established players and new entrants. Market trends include eco-friendly bags and those with built-in compartments for laptops and water bottles. Sales remain stable due to the annual back-to-school season and continuous student enrollment.

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Research Analysis

The School Bags Market is witnessing significant growth due to the increasing student enrollment ratio and the shift towards e-learning. Manufacturing technologies are evolving to incorporate features such as USB charging ports, making school bags more functional. Eco-friendly materials like recycled polyesters are gaining popularity to reduce the environmental impact. Tablet pockets and messenger bags are in demand for students carrying digital devices. Leather school bags continue to be preferred for their durability and style. Online retail stores dominate the sales channel, offering convenience and a wide range of options. Government efforts to promote education and e-commerce platforms have further fueled market growth. Lightweight bags with RFID protection are also gaining traction to ensure the safety of students' belongings. School supplies like pencils, notebooks, and erasers are still essential, but the focus is shifting towards high-tech school bags that cater to the modern student's needs.

Market Research Overview

The School Bags Market is witnessing significant growth due to the increasing demand for functional and stylish bags among kids, teenagers, and adults. Manufacturing technologies such as 3D printing are being adopted to produce customized and lightweight bags. Eco-friendly materials like canvas, Nylon, and Polyester are gaining popularity as consumers are becoming more conscious of their environmental impact. USB charging ports and pockets for tablets are becoming essential features in modern school bags, catering to the needs of digital learners. Adjustable straps and ergonomic designs ensure comfort for long hours of use. Social media and online retail stores are driving sales, with unbranded players offering low-price options. Government efforts towards promoting education and e-commerce platforms are also contributing to the market's growth. Backpacks, laptop bags, duffel bags, and clutch bags are popular choices for students, while leather bags continue to be a preferred option for adults. Consumer spending on school supplies remains strong, with pockets, raw materials, and RFID protection being key considerations.

Table of Contents:

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

Product

Distribution Channel

Geography

7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com/

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SOURCE Technavio