Bicycle Bags and Bag-packs Market Remains Afloat amid COVID-19 Pandemic, to Surge Positively, Projects FMI 2022 2029

 The global bicycle bags and the bag-packs market is expected to register new growth opportunities during the forecast period. The market is projected to rise at a CAGR of ~5.6% between 2019 and 2029, Future Market Insights foresees high growth for the market.

There is a significant increase in bicycle long tours among the young population worldwide. Growing cycle tourism and long tours for a social cause are the major reasons for the increase in the number of bicycle long tours. Long tours demand for various types of carrier bags to carry the essential things for the journey. Cycle carrier bags are specifically designed to be mounted onto bicycle frame so as to relieve the cyclists from carrying weight on his back.

Cycle carrier bags lowers the centre of gravity of the bicycle that makes controlling the bicycle much easier with compact transportation of the gear such as food, clothing, and biking tools. Consequently, there is a growing demand for cycle carrier bags globally.

Key Takeaways from the Bicycle Bags and Bag-packs Market Study

Asia Pacific region is at forefront for cycling globalization. There is a considerable young population in this region. The benefits of cycling to maintain a healthy lifestyle is a major factor influencing the millennial. Government in this regions are taking initiatives to promote cycling activities such as development of cycling tracks, cycle sharing spots, and arranging cycling events.According to Union Cycliste Internationale (UCI), Asia region is extremely active in hosting major cycling events. Currently, there are 40 UCI Continental Teams registered in Asia, which is more than twice of 2009 having 17 teams. Also, a significant number of manufacturers of bicycle bags and bag-packs is present in this region. Considering all these factors, Asia Pacific regions holds potential opportunities for bicycle bags and bag-packs market. Association of manufacturers with governmental initiatives is anticipates to generate new opportunities in this region.E-commerce sales channel is estimated to generate high revenue in the forecasted years for the bicycle bags and bag-packs market owing to increasing internet usage among consumers.

“Manufacturers are developing bicycle bags and bag-packs by targeting the growing number of women cyclists such that the bags cater its basic function in a fashionable way. The low awareness among consumers about Bicycle Bags and Bag-packs when compared with other personal care products is major barrier of the market growth. Consequently, effective advertising is essential for the rapid growth of bicycle bags and bag-packs market.” says an FMI analyst.

Celebrity Endorsement to Inspire Consumer’s Buying Behaviour

An emerging trend in the bicycle bags and bag-packs market is the increasing number of key players appointing various celebrities from the field of sports and films to endorse their products, with an objective to influence consumers to adopt the same. This is winning trust of the customers and attracting them to use of bicycle bags and bag-packs instead of conventional bags.

Who is winning?

Some of the key players operating in the bicycle bags and bag-packs market are as Shimano, Inc., Giant Manufacturing Co., Ltd., Merida Industry Co Ltd., Wiggle Ltd., BROOKS ENGLAND, Recreational Equipment, Inc., Ortlieb USA, Topeak, Trek Bicycle Corporation, Velotransit, MAINSTREAM-MSX, Madden Equipment, Lone Peak Packs, Inertia Designs, Deuter Sport GmbH, and others. Several leading market players are engaged in partnership with other companies to increase their product offering across the world. Moreover, companies are engaged in celebrity endorsement and product innovation.

For instance, the BLS Group features famous professional cyclists such as Mariske Strauss, Nate Koch, and Jolien D’hoore as brand ambassadors.

Information Source@
https://www.futuremarketinsights.com/reports/bicycle-bags-and-bag-packs-market

Comments

Post a Comment

Popular posts from this blog

Healthy Fat-Free Snacks Market 2022 Outlook, Current and Future Industry Landscape Analysis 2031

Image
  Healthy Fat-Free Snacks Market Overview According to the latest research by Future Market Insights, during the years 2021-2031, the demand for healthy fat-free snacks is expected to expand steadily. Demand for healthy fat-free snacks will slowly rebound in the short-term period, with a promising long-term growth outlook. Health-conscious customers are driving demand for fat-free snacks. What is Driving Demand for Healthy Fat-free Snacks? Changing consumer demographics have enhanced the demand for a healthy fat-free snacks market as people nowadays want such snacking options that not only satisfy hunger but also provide health benefits such as a healthy heart, good cholesterol weight management and sugar control. Thus these crucial health benefits are projected to increase the healthy fat-free snacks market during the forecast period. Increasing lifestyle diseases is among the major reason driving demand for healthy fat-free snacks. Consumers have become conscious about their eati...
Read more

Neurointerventional Devices Market Witness a Spike in Growth Pace Recent Improvements in Pricing Models: FMI

  A new report by Future Market Insights (FMI) expects global   neurointerventional devices market   is expected to project a significant growth CAGR value of about 4.7% from 2022 to 2030. Since the past several years, the burden of neurological disorders has increased multifold. According to the National Center for Biotechnology Information (NCBI), the frequency of cerebral aneurysm is nearly 3.2%, with the prevalence being higher amongst women than men above 50 years of age. It is estimated that around 6.5 million people in the United States possess an unruptured brain aneurysm, while 30,000 suffer a brain aneurysm rupture every year. Based on these trends, it is unsurprising to observe the market being interspersed with the presence of several reputed manufacturers who constantly launch new products. In addition, rising prevalence of ischemic stroke is also boosting the neurointerventional devices market. Being non-invasive in nature, these devices increase chances of ...
Read more

Hyperbaric Oxygen Therapy Devices Market Witness a Spike in Growth Pace Recent Improvements in Pricing Models: FMI

  In 2022, it is anticipated that the market for devices used in hyperbaric oxygen therapy will be worth US$3.21 billion. The overall demand for   hyperbaric oxygen therapy devices   is anticipated to increase at a CAGR of 7.1% between 2022 and 2032, reaching approximately US$ 6.37 billion by 2032 due to the growing use of hyperbaric oxygen therapy in wound healing and the increasing number of athletes driving up demand for HBOT. The use of the hyperbaric oxygen therapy (HBOT) technique improves leukocyte performance, particularly at the site of a wound, and reduces the toxicity of cyanide and carbon monoxide (CO). One of the major factors anticipated to propel the market during the forecast period is the technology’s increasing acceptance on a global scale. The primary reason for the rise in demand for devices for hyperbaric oxygen therapy is the rising number of diabetic patients worldwide. As a result, the market will experience an upward trend over time. Additionally,...
Read more