Luxury Backpacks Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Backpacks, also referred to as rucksacks or knapsacks, find widespread application in traveling activities and daily commute. Luxury backpacks are gaining popularity owing to the several advantages they offer such as higher functionality, more comfortable and higher durability. They are broadly purchased as luxury products over necessities and have a wide range of benefits including better heat insulation, better airflow, and greater portability. Manufacturers are offering backpacks in different materials and sizes pertaining to the different requirements of the users.

MARKET DYNAMICS

The rising disposable income and urbanization rate of the population across the world is propelling the demand for high-quality luxury products, such as backpacks. Since luxury backpacks are perceived as fashion statements and essential accessories, there is a constant demand for such products in the global market. Shifting preference of school and college students and working professionals, coupled with several advantages in the form of features, like theft protection, heating, and cooling capabilities, water resistance, etc., offered by major players is further driving the global luxury backpacks market. However, the higher costs of premium quality products and the easy availability of counterfeit products are limiting the growth of the market.

MARKET SCOPE

The "Global Luxury Backpacks Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the luxury backpacks market with detailed market segmentation by Material, Size, Gender, and Distribution Channel. The global luxury backpacks market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading luxury backpacks market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global luxury backpacks market is segmented into Material, Size, Gender, and Distribution Channel. By material, the luxury backpacks market is classified into Cotton, Leather, Denim, Synthetic, Others. By size, the market is segmented into Mini and Small Backpacks, Daypacks, Medium Backpacks, Others. By Gender, the market is segmented as Male, Female, Unisex. By distribution channel, the luxury backpacks market is classified into Supermarkets and Hypermarkets, Specialty Stores, Online Retail, Others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global luxury backpacks market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2031 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. The luxury backpacks market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally, along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the luxury backpacks market from both demand and supply side. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions, namely, North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the luxury backpacks market in these regions.

MARKET PLAYERS

The report covers vital developments in the luxury backpacks market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from the luxury backpacks market are anticipated to lucrative growth opportunities in the future with the rising demand for luxury backpacks in the global market. below mentioned is the list of few companies engaged in the luxury backpacks market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the luxury backpacks market. Besides, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, the critical development in the past five years.

•   Alexander McQueen
  
•   Balmain
  
•   Prada
  
•   Nike
  
•   Yves Saint Laurent
  
•   Diesel
  
•   Gucci
  
•   Bottega Veneta
  
•   Emporio Armani
  
•   Herschel
  

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the current study.

Luxury Backpacks Report Scope