Hydration Backpack Market To Exhibit Significant Growth Potential Of $701.9 Million With A CAGR Of 12.4% By 2025 | Grand View Research Inc.

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Hydration Backpack Market To Exhibit Significant Growth Potential Of $701.9 Million With A CAGR Of 12.4% By 2025 | Grand View Research Inc.

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According to a recent report published by Grand View Research Inc., an increase in outdoor sports activities such as snowshoeing, winter hiking, skiing, etc. is likely to accelerate the hydration backpack market expansion.

The global hydration backpack market size is expected to reach USD 701.9 million by 2025, registering a CAGR of 12.4%, as per a new report by Grand View Research Inc. The market is driven by the increasing number of hiking enthusiasts, particularly in emerging economies, such as China, India, and Brazil. Furthermore, the rising focus on maintaining a healthy lifestyle has resulted in increased participation in outdoor activities, including walking and cross country running, thereby fueling the product demand.

Sports end user segment accounted for the largest revenue share in 2018. In addition, sports associations are increasing awareness regarding the signification of proper hydration. Athletes are advised to use hydration packs, which is boosting the market product adoption. The military segment is projected to register the fastest growth rate of 13.0% owing to the introduction of camouflage fabrics. 

Major companies, such as Lululemon Athletica, Inc. and Decathlon S.A. are focused on expanding their geographic foothold, which, in turn, is driving the segment growth. For instance, Decathlon S.A. has opened around 40 stores in the U.K.. Moreover, online distribution channels are set to expand at a fastest CAGR of 13.1% during the forecast period, given the rising popularity of smartphones and laptops. 

U.S. hydration backpack market size, by end user, 2015 - 2025 (USD Million)

Hydration Backpack Market Report Highlights 

  1. The clothing, footwear, & accessories industry has observed a checkered growth in 2020 with the onset of Covid-19 pandemic, resulting in unprecedented supply chain disruptions. Despite the expected decline in global sales, the industry is likely to recover over the forecast timeframe

  2. Extensive exposure to social media and usage of smartphone, especially in developing countries like India and China, is anticipated to assist in product sales via online distribution channels

  3. Alpine skiers have embraced hydration backpacks amid the Covid-19 pandemic to continue the longtime skiing tradition prevailing in Canada, Europe, and out west. Skiers are opting for a waterproof pack with multiple zipper pockets to store different personal gears 

  4. Specialty store led the market in 2018 owing to the increasing number of merchandises in tier II and III cities of the globe. For instance, Lululemon plans to enlarge its reach by adding 40 new stores in China, Australia, Hong Kong, Singapore, South Korea, the U.K., Germany, and Switzerland

  5. Asia Pacific is set to emerge as the fastest-growing regional market with a CAGR of 13.9% by 2025. This is attributed to the rising product penetration of numerous adventurous outdoor activities, especially in India and China

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Hydration Backpack Market Segmentation

Grand View Research has segmented the global hydration backpack market on the basis of end-user, distribution channel, and region:

Hydration Backpack End User Outlook (Revenue, USD Million, 2015 – 2025)

  • Sports

  • Military

Hydration Backpack Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)

  • Specialty Store

  • Departmental Store

  • Online Retail

Hydration Backpack Regional Outlook (Revenue, USD Million, 2015 – 2025)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • Japan

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa

List of Key Players of Hydration Backpack Market

  1. Vista Outdoor Operations LLC

  2. Cascade Designs, Inc.

  3. Samsonite IP Holdings S.A.R.L.

  4. Osprey Packs, Inc.

  5. Deuter Sport GmbH

  6. HydraPak, LLC

  7. Mazama Designs, LLC

  8. Jack Wolfskin

  9. Columbia Sportswear Company

Have Any Query? Ask Our Experts for More Details on Report: https://www.grandviewresearch.com/inquiry/6264/ibb

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Laptop Backpack Market – https://www.grandviewresearch.com/industry-analysis/laptop-backpack-market

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About Grand View Research

Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.

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