The global School Bags Market size is expected to reach USD 24.6 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.6% during the forecast period. The growth is attributed to high demand for the product driven by rising number of students in primary and secondary schools.
As per the National Center for Education Statistics, in 2018, about 56.6 million students attended elementary and secondary schools. Growing student enrollment is projected to boost the demand for school supplies, such as school bags. This factor is anticipated to create growth opportunities for the market in the forthcoming years. Government initiatives to provide basic education to all the children is also expected to drive sales of school supplies including school bags.
Evolving teaching methodologies and rapid digitization have resulted in increased use of tablets, laptops, and other electronic gadgets. These gadgets increase the weight of the bags, which is anticipated to drive the demand for lightweight bags and fuel innovation in terms of raw materials and manufacturing technologies. Rising use of eco-friendly materials such as recycled plastics is projected to positively influence the growth.
By fabric, the school bag market is segmented into canvas, polyesters, nylon, leather, and others. Polyesters held the largest market share in 2018 and is expected to be the fastest growing segment over the forecasted period. High strength of the product is anticipated to fuel the segment growth in near future. Nylon is anticipated to hold the second largest share of the market over the forecast period. It is also expected to register the second fastest CAGR from 2019 to 2025.
Online distribution channel is estimated to register the fastest CAGR over the forecasted period owing to growing penetration of e-commerce industry coupled with rising influence of social media on consumer purchasing decisions. Availability of offers and discounts, quick product delivery and easy returns, free shipping, and ease of comparison are some of the factors driving the growth of the segment.
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Further key findings from the report suggest:
- Polyester fabric is estimated to be the largest and fastest growing segment during the forecast period
- Online distribution channel is projected to register the fastest CAGR in the forthcoming years owing to rising internet penetration and influence of social media
- Asia Pacific accounts for the largest market share and is estimated to be the fastest growing region over the forecast period, due to growing number of school children in the region
- Some of the key players operating in the school bags market include Samsonite International; Targus Inc.; Nike; Puma; VIP industries; and Wildcraft
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Grand View Research has segmented the global school bags market on the basis of fabric, distribution channel, and region:
School Bags Fabric Outlook (Revenue, USD Million, 2015 – 2025)
School Bags Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
School Bags Regional Outlook (Revenue, USD Million, 2015 – 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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