Market Size of United States Sports Bags Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 10.32 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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US Sports Bag Market Analysis
United States Sports Bags Market is projected to grow at a CAGR of 10.32% during the forecast period (2020- 2025).
- The prominence of sports activities, owing to health and wellness trends, the increasing influence of social media and celebrity endorsements, and the rise in international sports events, encourages consumers to engage in sports activities.
- Additionally, the market is heading toward premiumization; this can be attributed to increased demand for high-quality premium options in affluent millennials. For instance, sports bags made from leather and other superior quality materials are gaining traction in the market. Further, premium products are not only catering to the affluent class as the high price tag is often associated with high standard/quality.
- Companies are utilizing the growing trend of premium product consumption and raising the market's affluence to introduce separate premium lineups and "mainstreamization" of premium products.
US Sports Bag Industry Segmentation
The United States sports bags market is segmented by sports type and distribution channel. By sports type, the market is segmented into golf, soccer, baseball, snow/winter sports, football, and other sports. By distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, online retail, and other distribution channels.
By Sports Type | |
Golf | |
Soccer | |
Baseball | |
Snow/Winter Sports | |
Football | |
Other Sports |
By Distribution Channel | |
Supermarkets/Hypermarkets | |
Specialty Stores | |
Online Retailing | |
Other Distribution Channels |
United States Sports Bags Market Size Summary
The United States sports bag market is experiencing significant growth, driven by the increasing popularity of sports activities and the influence of health and wellness trends. The rise of social media and celebrity endorsements, along with the surge in international sports events, has encouraged more consumers to participate in sports, thereby boosting the demand for sports bags. The market is also witnessing a trend towards premiumization, with affluent millennials seeking high-quality options such as leather sports bags. This trend is not limited to the affluent class, as premium products are often perceived as having superior quality, leading to the "mainstreamization" of premium offerings. Companies are capitalizing on this trend by introducing separate premium lineups to cater to the growing demand for high-end products.
The proliferation of athleisure trends and the increasing number of active social media users are expected to continue driving the market's growth. The demand for sports bags is further bolstered by the rising participation in sports and fitness activities, particularly among women. Specialty stores remain the primary sales channel, although companies like Adidas and Nike are expanding their reach through multiple retail formats, including sports and athletic goods stores. The market is highly competitive, with major players such as Puma SE, Nike Inc., and Adidas AG holding significant market shares due to their extensive distribution networks, diverse product offerings, and strong marketing strategies. These companies are also leveraging e-commerce channels to reach a broader audience, enhancing their competitive edge in the market.
United States Sports Bags Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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1.4 Consumer Behavior Analysis
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1.4.1 Consumer Demand Analysis
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1.4.2 Target Market Identification
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1.4.3 Demographic Strength and Weakness
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1.4.4 Purchasing and Spending Patterns
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2. MARKET SEGMENTATION
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2.1 By Sports Type
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2.1.1 Golf
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2.1.2 Soccer
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2.1.3 Baseball
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2.1.4 Snow/Winter Sports
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2.1.5 Football
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2.1.6 Other Sports
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2.2 By Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Specialty Stores
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2.2.3 Online Retailing
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2.2.4 Other Distribution Channels
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United States Sports Bags Market Size FAQs
What is the current United States Sports Bags Market size?
The United States Sports Bags Market is projected to register a CAGR of 10.32% during the forecast period (2024-2029)
Who are the key players in United States Sports Bags Market?
Nike Inc., Puma SE, Adidas AG, Select Sport AS and Sport Maska Inc. (CCM) are the major companies operating in the United States Sports Bags Market.