Hiking Backpacks Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0193706
  • Format: Electronic (PDF)
  • Number of Pages: 181
  • Author(s): Joshi, Madhavi

Report Overview

The Hiking Backpacks Market size was estimated at USD 5.2 billion in 2023 and is projected to reach USD 9.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.50% during the forecast period (2024-2030).

Hiking Backpacks Market

(Market Size)
$5.2 billion
$9.5 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 9.50%
2023 Market Size USD 5.2 billion
2030 Market Size USD 9.5 billion
Key Players Osprey, Deuter, Gregory, The North Face, Patagonia

Market Summary

The hiking backpacks market is a significant segment within the broader consumer goods industry, catering to outdoor enthusiasts and adventurers. This market is characterized by a diverse range of products designed to meet various needs, from day hikes to extended expeditions. Key factors influencing this market include evolving consumer preferences, technological advancements in materials and design, and the growing popularity of outdoor recreational activities. Manufacturers are continuously innovating to enhance comfort, durability, and functionality, integrating features such as ergonomic designs, lightweight materials, and specialized compartments. The market is also influenced by trends in sustainability, with an increasing number of brands focusing on eco-friendly materials and production processes. Distribution channels encompass both online and offline retail, with e-commerce gaining substantial traction due to its convenience and wide product availability. The competitive landscape is marked by the presence of established players and emerging brands, all striving to capture market share through product differentiation and strategic marketing. Overall, the hiking backpacks market is dynamic and responsive to changing consumer demands and outdoor lifestyle trends.

Key Highlights

The hiking backpacks market exhibits several key highlights that underscore its growth and evolution. Innovation in material technology is a prominent feature, with manufacturers utilizing advanced fabrics such as ripstop nylon and Dyneema to enhance durability while reducing weight. Ergonomics and comfort are critical focus areas, leading to the development of backpacks with adjustable suspension systems, padded hip belts, and ventilated back panels. Sustainability has become a significant trend, with brands increasingly adopting recycled materials and ethical production practices to appeal to environmentally conscious consumers. The market also benefits from the rising participation in outdoor activities, driven by health and wellness trends and a growing appreciation for nature. Customization and personalization options are gaining traction, allowing consumers to tailor backpacks to their specific needs and preferences. Additionally, the expansion of e-commerce platforms has facilitated greater accessibility and convenience for consumers, contributing to market growth. These highlights collectively reflect a market that is innovative, consumer-centric, and aligned with broader societal and environmental trends.

Drivers, Opportunities & Restraints

The hiking backpacks market is driven by several factors, including the increasing popularity of outdoor recreational activities such as hiking, trekking, and camping. This growth is fueled by a rising awareness of health and wellness, as well as a desire for adventure and exploration among consumers. Technological advancements in backpack design and materials also serve as a key driver, enhancing product functionality and appeal. Opportunities in the market abound, particularly in the realm of sustainability, where there is growing demand for eco-friendly products made from recycled or biodegradable materials. The expansion of online retail channels presents another significant opportunity, enabling brands to reach a broader audience and offer personalized shopping experiences. Emerging markets in regions such as Asia-Pacific offer untapped potential due to increasing disposable incomes and growing interest in outdoor activities. However, the market faces restraints, including intense competition which can lead to price pressures and reduced profit margins. Economic uncertainties and fluctuations in consumer spending may also impact market growth. Additionally, challenges related to supply chain disruptions and raw material availability can pose constraints. Despite these restraints, the market is poised for growth, driven by innovation and evolving consumer preferences.

Concentration Insights

The hiking backpacks market is characterized by a moderate level of concentration, with several key players holding significant market share. Leading companies such as Osprey, Deuter, and The North Face have established strong brand recognition and loyalty through consistent product quality and innovation. These players often dominate through extensive distribution networks, robust marketing strategies, and a wide product portfolio that caters to various consumer segments. However, the market also features a substantial number of smaller and niche brands that compete by offering specialized products, such as ultralight backpacks or models designed for specific activities like mountaineering or travel. The concentration varies by region, with North America and Europe being highly competitive due to the presence of major brands and a mature consumer base. In contrast, regions like Asia-Pacific are more fragmented, with local brands gaining traction alongside international players. Mergers and acquisitions are common strategies employed by larger companies to consolidate their market position and expand their geographic reach. Overall, while the market is competitive, it allows for diversity and innovation, benefiting consumers with a wide range of choices.

Type Insights

The hiking backpacks market can be segmented based on type, with each category designed to meet specific needs and preferences. Daypacks are among the most popular types, ideal for short hikes and day trips, offering compact sizes and essential features without excessive weight. Overnight backpacks cater to longer excursions, providing greater capacity for carrying gear, clothing, and supplies for one or more nights. Extended trip backpacks are designed for multi-day adventures, featuring large volumes, robust frame systems, and multiple compartments for organized packing. Technical backpacks are specialized for activities such as mountaineering or climbing, incorporating features like ice axe loops, rope carriers, and enhanced durability for harsh conditions. Ultralight backpacks appeal to minimalist hikers seeking to minimize weight without sacrificing functionality, often using advanced materials and streamlined designs. Each type addresses distinct consumer requirements, driven by factors such as trip duration, activity intensity, and personal comfort preferences. Manufacturers continuously innovate within these segments to enhance performance, comfort, and sustainability, reflecting the diverse and evolving demands of outdoor enthusiasts.

Application Insights

The application of hiking backpacks spans various outdoor activities, each with unique requirements influencing product design and features. Hiking and trekking represent the primary applications, where backpacks are essential for carrying water, food, navigation tools, and safety equipment. These backpacks prioritize comfort, weight distribution, and accessibility to enhance the hiking experience. Camping applications demand backpacks with larger capacities to transport tents, sleeping bags, and cooking gear, often featuring robust frames and multiple access points. Travel and adventure tourism have also become significant applications, with consumers seeking versatile backpacks that double as luggage for international trips or urban exploration, emphasizing organizational features and security. Mountaineering and climbing require specialized backpacks designed for technical use, incorporating attachment points for equipment and durable materials to withstand extreme conditions. Day hiking remains a popular application, driving demand for lightweight and compact daypacks that offer sufficient storage without bulk. The diversity in applications underscores the need for tailored solutions, prompting manufacturers to develop products that address specific use cases while incorporating innovations in materials, ergonomics, and sustainability.

Regional Insights

The hiking backpacks market demonstrates distinct regional dynamics influenced by factors such as outdoor activity participation, economic conditions, and consumer preferences. North America is a prominent region, characterized by a strong culture of hiking and outdoor recreation, supported by extensive natural parks and trails. The presence of major brands and high consumer awareness drives market growth in this region. Europe follows closely, with countries like Germany, France, and the United Kingdom showing significant demand due to well-established hiking traditions and robust tourism infrastructure. The Asia-Pacific region is emerging as a key growth area, fueled by rising disposable incomes, increasing interest in outdoor activities, and growing tourism in countries such as China, Japan, and India. Latin America and the Middle East and Africa regions present developing opportunities, though market penetration is slower due to economic constraints and less developed outdoor recreation infrastructure. Regional preferences also vary; for example, North American consumers often prioritize technical features and brand reputation, while Asian markets may focus more on affordability and versatility. Understanding these regional nuances is crucial for companies aiming to expand their global footprint and tailor products to local demands.

Company Insights

The hiking backpacks market features a competitive landscape with several key players and numerous smaller brands striving for market share. Osprey Packs Inc. is renowned for its innovative designs and commitment to sustainability, offering a wide range of backpacks known for their comfort and durability. Deuter GmbH, a German company, is celebrated for its ergonomic products and advanced ventilation systems, catering to both recreational and professional hikers. The North Face, Inc., a subsidiary of VF Corporation, leverages its strong brand identity and extensive product lineup to maintain a significant presence in the market. Gregory Mountain Products, another prominent player, focuses on customizable fit systems and robust construction for demanding outdoor conditions. Arc'teryx Equipment Inc. is recognized for its high-performance technical backpacks, often utilizing cutting-edge materials and designs for extreme adventures. Smaller and niche brands, such as Gossamer Gear and Hyperlite Mountain Gear, compete by specializing in ultralight and minimalist backpacks, appealing to specific consumer segments. These companies employ strategies like product innovation, strategic partnerships, and sustainability initiatives to differentiate themselves and capture consumer interest in a crowded marketplace.

Recent Developments

Recent developments in the hiking backpacks market highlight ongoing innovation and strategic moves by key players. There has been a notable shift towards sustainability, with companies increasingly incorporating recycled materials, such as post-consumer plastics, into their products. For instance, several brands have launched lines made entirely from recycled fabrics, responding to growing consumer demand for eco-friendly options. Technological advancements continue to evolve, with improvements in lightweight materials, ergonomic designs, and smart features like integrated hydration systems and connectivity options. Collaborations between backpack manufacturers and outdoor influencers or organizations have become common, enhancing brand visibility and credibility. Additionally, the expansion into emerging markets, particularly in Asia-Pacific, is a focus for many companies, involving localized marketing strategies and distribution partnerships. The rise of direct-to-consumer sales channels has also transformed retail dynamics, allowing brands to engage directly with customers and offer personalized experiences. Furthermore, mergers and acquisitions remain a trend, as larger companies seek to acquire innovative startups or consolidate market share. These developments reflect a market that is adaptive, forward-thinking, and aligned with broader trends in consumer behavior and environmental responsibility.

Report Segmentation

The hiking backpacks market report is segmented to provide a comprehensive analysis of various aspects influencing the industry. Segmentation by type includes categories such as daypacks, overnight backpacks, extended trip backpacks, technical backpacks, and ultralight backpacks, each addressing specific consumer needs based on duration and intensity of use. Application segmentation covers hiking and trekking, camping, travel, mountaineering, and day hiking, reflecting the diverse uses of backpacks in outdoor and adventure contexts. Material segmentation examines the use of nylon, polyester, canvas, and other advanced fabrics, highlighting trends in durability, weight, and sustainability. Capacity segmentation categorizes backpacks by volume, ranging from small packs under 30 liters for day trips to large packs over 70 liters for extended expeditions. Distribution channel segmentation includes online and offline retail, with subcategories such as specialty stores, supermarkets/hypermarkets, and e-commerce platforms, analyzing shifts in consumer purchasing behavior. Geographic segmentation provides insights into regional markets, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, detailing regional preferences and growth opportunities. This multi-faceted segmentation enables a detailed understanding of market dynamics, trends, and consumer preferences, aiding stakeholders in strategic decision-making.

FAQs

What are the key features to look for in a hiking backpack? Key features include ergonomic design for comfort, adjustable suspension systems, durable materials, adequate storage compartments, and weight distribution capabilities. Ventilation and hydration compatibility are also important considerations.

How do I choose the right size backpack for hiking? The right size depends on the duration of your trip; daypacks (10-30 liters) suffice for short hikes, while multi-day trips require larger capacities (50-70 liters or more). Consider your body frame and the need for a proper fit.

What materials are commonly used in hiking backpacks? Common materials include nylon, known for its durability and lightweight properties, polyester for affordability and resistance to UV damage, and increasingly, recycled fabrics for sustainability. Ripstop and waterproof coatings are also prevalent.

Are there sustainable options available in the hiking backpack market? Yes, many brands now offer backpacks made from recycled materials, such as post-consumer plastics, and employ ethical production practices. Look for certifications or brand commitments to sustainability.

What is the difference between internal and external frame backpacks? Internal frame backpacks have the frame integrated inside, offering better weight distribution and stability for technical terrain. External frame backpacks have visible frames, providing excellent ventilation and easier packing but less agility.

Which brands are leading the hiking backpack market? Leading brands include Osprey, Deuter, The North Face, Gregory, and Arc'teryx, known for their innovation, quality, and range of products catering to various hiking needs.

Citius Research has developed a research report titled “Hiking Backpacks Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Hiking Backpacks Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Hiking Backpacks Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Hiking Backpacks Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Hiking Backpacks Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Hiking Backpacks Market
• Research Methodology
• Executive Summary
• Market Dynamics of Hiking Backpacks Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Hiking Backpacks Market
• Cost and Gross Margin Analysis of Hiking Backpacks Market
• Hiking Backpacks Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Hiking Backpacks Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Hiking Backpacks Market Key Stakeholders

Below are the key stakeholders for the Hiking Backpacks Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Hiking Backpacks Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Hiking Backpacks Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Hiking Backpacks Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Hiking Backpacks Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Hiking Backpacks Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Hiking Backpacks Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Hiking Backpacks Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Hiking Backpacks Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Hiking Backpacks Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Hiking Backpacks Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Hiking Backpacks Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Hiking Backpacks Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Hiking Backpacks Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Hiking Backpacks Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Hiking Backpacks Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Hiking Backpacks Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Hiking Backpacks Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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