Global Sleeping Bag Market Overview
The key drivers impacting the sleeping bag market are the growing outdoor industry due to the rise in the popularity of outdoor recreational activities and the growth promotion of camping sites on social media & online platforms. For instance, as per the Outdoor Industry Association (OIA), outdoor recreation generated over US$ 887 billion in consumer spending in the United States in 2017. Moreover, the rapidly expanding adventure tourism industry is also estimated to be a key determinant that adds growth to the market. Whereas with regards to volume,the market was calculated XX Metric Units in 2019 and foreseen to grow with a CAGR of XX% during 2020-2026.
According to Value Market Research, the global sleeping bag market was valued at around USD 1345 million in 2019 and is estimated to grow at a CAGR of about 9.37% between 2020 and 2026.
In addition to this, the increase in awareness about rock climbing across the globe is anticipated to increase the sleeping bag market demand under the forecast period. However, the availability of substitute products such as glamping, camping tents, and recreational vehicles may hamper the global sleeping bag industry in the long run. The rapidly spreading Covid 19 virus across the globe is likely to impact market growth negatively. The current industry trend, such as the booming e-commerce sector and increasing promotion of sleeping bags through various online channels, create new market opportunities for the key players in the coming decade.
The sleeping bag market is vast, with a large number of local and global players. The key leaders follow various strategies to improve their market position, such as mergers, acquisitions, expansions, and improved quality products at the best prices to enhance their market share across the world. For instance, in 2019, NEIGHBORHOOD and Helinox have collaborated to offer an innovative product by the inclusion of lightweight aluminum alloy in the manufacturing of sleeping bags, which makes them portable lightweight. The dominating key players included in the report are Jack Wolfskin, AMG Group Vaude, Johnson Outdoors, Oase Outdoors, Exxel Outdoors, Big Agnes, Jarden, V F Corp, Snugpak, Gelert and Columbia Sportswear, and others have always been the initial targets of sleeping bag companies and many others.
In this market research report, the market is segmented by product, insulation material, distribution channel, end-user and region.
Analysis by Product:
By product, the report is categorized into square sleeping bags, mummy sleeping bags, and sleeping pods. Square sleeping bags are expected to show considerable growth in the forecast period due to various associated elements such as compact, lightweight. It also provides room to move the body with ease and comfort. Thus, the square sleeping bag pattern is majorly preferred by rock climbers and mountaineers.
Analysis by Insulation Material:
By insulation material, the report is categorized into down fill and synthetic fill. There is a high demand for synthetic fill materials for sleeping bags as synthetic fill is cost-effective and very comfortable in wet conditions, thus majorly driving the sleeping bag market's insulation segment in the coming years.
Analysis by Distribution Channel
By distribution channel, the report is categorized into online and offline. The offline distribution channel segment can be further categorized into supermarkets, hypermarkets, specialty stores, and departmental stores. There is a huge growth in the online distribution channel observed due to the growing e-commerce industry, easy access to innovative and new products on websites. The growing focus of sleeping bag manufacturers and distributors to cater to a wide range of customers globally by selling their products on various e-commerce portals positively impacts the online segment.
Analysis by the End-User
By end-user, the report is categorized into men, women, and kids. The growing trend and liking for rock climbing, hiking, and mountaineering in male consumers are expected to drive the end-user segment in the forecast period.
Analysis by Region
In the regional outlook of the global sleeping bag market, North America dominates the market with the highest market share of 50% in the forecast period followed by Europe. North America maintained its dominancy due to the presence of a large number of professional rock climbers and mountaineers in the region. APAC market is anticipated to record considerable growth during the forecast period due to the high promotion of tourism in the Indian government. Moreover, the increase in recreational activities and camping among youngsters is also contributing to the growth of the sleeping bag market in APAC.
Market Segmentation covered in the Report:
By Insulation Material
- Square Sleeping Bags
- Mummy Sleeping Bags
- Sleeping Pods
By Distribution Channel
By End User
- Down Fill
- Synthetic Fill.
- North America
- the Asia Pacific
- Latin America
- The Middle East and Africa
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