In response to increasing demand for larger bags and multipurpose bags such as clothing or sleeping, compression bags is becoming ideal choice among consumers. Primarily it is used to slash sizes by removing extra air and constrict the items to its smallest possible size.
Compression bags allow consumers to fit more things into luggage. Potential to save large spaces and allowing consumers to carry extra luggage has driven the demand for compression bags during the past few years.
In order to make compression bags suitable for all kind of purposes, compression bags with different compartments are being offered by manufacturers which is set to drive the global compression bag market during the forecast period (2020-2030).
On the basis of bag type, compression stuff sack has driven the demand among compression bags and is set to remain primary choice among consumers. However, vacuum compression bags is gaining traction owing to its high space saving capability and flexibility in design.
Other key emerging segments among users include DIY or Zip lock segment, also known as plastic sandwich or gallon bag. Zip lock compression bag offers same function at a lower price and fulfills the purpose for normal applications such as to carry toiletries, condiments, electronics etc. Due to this zip lock compression bags are gaining significant popularity.
The spread of the coronavirus has nearly forced all countries to impose lockdowns and strict social distancing measures which has disrupted every industry and market including the compression bags market across the globe.
As per UN stats global economy is estimated to suffer billion dollars of loss in 2020. The coronavirus pandemic has generated massive disruptions in the demand-supply equation across multiple industries, causing a global economic meltdown.
The pandemic has significantly impacted travelling activities across the globe which has ultimately hampered the overall luggage sales including compression bags.
Analyzing, current scenario the compression bag market is poised to experience a decline in growth rate till coronavirus outbreak gets under control. However, ease in lockdown in most of the countries across the globe may change the scenario by the end of 2020.
The report on the global compression bags market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. Owing to large population and increased middle class groups, China has accounted for highest share in global compression bag market. In terms of bags and accessories China generates highest revenues in the world. Attributed to this, East Asia also accounts for a sizeable share in the compression bags market, and is also poised to remain amongst the leading markets during the forecast period.
Besides, United States drives the premium compression bag segment and creates significant revenue for market players.
Compression bags market is highly fragmented in nature owing to the presence of numerous local and international manufacturers across the globe offering range from ultra-smooth nylon compression bag to regular synthetic bags.
are some of the frontrunners in the compression bags market with significant market share in their respective regions.Players have been offering numerous options for consumers with different functions and qualities in order to target every kind of consumers segment.
For instance, as per customer’s convenience, they can opt for high quality high priced vacuum compression bags or cheap priced zip lock bags. Companies like Yama Sacks and Gobi Gear are offering ultra-light weight and water proof compression bags to cater to customers that search for ultralight variants.
The research report presents a comprehensive assessment of the compression bags market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The compression bags Market report provides analysis and information, according to market segments such as geographies, design, bag type, access, and capacity.
The compression bags Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.
The compression bags Market report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The compression bags Market report also maps the qualitative impact of various market factors on market segments and geographies.
The global compression bags Market is bifurcated into five major segments: design, bag type, access, capacity, and region.
By Basis of Design:
By Basis of Bag Type:
By Basis of Access:
By Basis of Capacity:
By basis of Geographic Regions:
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