In 2022, the professional gear bags market is expected to be worth US$ 18,110.8 million, with a forecast of US$ 23,983.2 million by 2028. Future Market Insights recently released new data (FMI). From 2013 to 2021, the market, on the other hand, grew at a CAGR of 3.8 percent. The professional gear bags industry has a 10% -15% share of its parent market (bags and luggage).
Multi-functionality Factor to Boost the Sales in Professional Gear Bags Market
Professional gear bags are developed in both a soft and hardstyle to improve the user’s function while on the road with his or her equipment and gear. The bags are constructed in such a way that they can withstand harsh environmental conditions without causing damage to the equipment.
In addition, the bags are constructed with quick-release locks, easy-access pouches, and other features in mind to accommodate the frequency of use of the tools and gears housed inside.
Furthermore, professional gear bags are available in a variety of fashionable and sophisticated styles, as well as very durable and appropriate materials. As a result, professional gear bags are utilized by a diverse group of people, including employees, gym-goers, hikers, law enforcement officers, and soldiers, among others.
Sustainable Gear bags Gaining Popularity in the Professional Gear Bags Market
The participants are aiming to obtain a strategic advantage over their industry competitors by delivering long-lasting professional gear bags. Future advances, such as the development of more sustainable gear bags made from waste materials and the design of hydration insulated professional gear bags, are expected to boost market growth over the forecast period.
Paravel, an eco-friendly baggage manufacturer, offers nylon bags, carbon-neutral suitcases, and tote bags made from repurposed bottles in response to the growing need for sustainable gear bags. Other competitors in the market are encouraged to invest in research and development and include sustainable gear in their offers as a result of such market innovation.
Professional Gear Bags Market Competitive Landscape
Leading competitors in the worldwide professional gear bag market are attempting to establish a competitive advantage through aggressive product and promotional differentiation.
- Samsonite International S.A. will open a Brand Development and Sourcing Hub in Singapore in August 2021 to better align regional product development, brand management, and supply chain operations.
- In May 2021, VF Corporation introduces venture platforms, an innovation pillar to
enhance its brand portfolio strategy