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Bags and Containers Market

Bags and Containers Market Size, Share & Trends Analysis Report By Type (Backpacks, Travel Bags, Sports Bags, Tote Bags), By Distribution Channel (Online, Offline) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Report Code: SRAM2598DR
Study Period 2018-2030 CAGR 5.6%
Historical Period 2018-2020 Forecast Period 2022-2030
Base Year 2021 Base Year Market Size USD 37.73 Billion
Forecast Year 2030 Forecast Year Market Size USD 61.61 Billion
Largest Market North America Fastest Growing Market Asia Pacific
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Market Overview

The global bags and containers market size was valued at USD 37.73 billion in 2021 and is expected to reach USD 61.61 billion by 2030 expanding at a CAGR of 5.6% from 2022 to 2030.

Whether one is going on a trip, going on a hike, or moving from one location to another, having some sort of bag or container to transport one's clothing and other items is quite necessary. The sorts of bags and containers that are utilised the most frequently are duffel bags, backpacks, tote bags, and jewellery boxes. Large populations are drawn in by the timely introduction of cutting-edge products that include advanced innovation from leading businesses. The readily available eco-friendly and sustainable products on the market are expected to be a further driving force behind the expansion of the bags and containers industry.

Market Dynamics

Market Drivers

New chances to sell bags and containers have emerged across global markets as a result of the constantly expanding travel sector. In addition, the development of cutting-edge and new products by manufacturing businesses that incorporate GPS safety components also contributes to the expansion of the market. One of the primary reasons for the expansion of the market for backpacks is the rising prevalence of the usage of backpacks in day-to-day life to fulfil a variety of functions.

The primary drivers that are driving the expansion of the bags and containers market include variables such as rapidly expanding urbanisation, rising levels of discretionary money, and rising levels of domestic and international travel and tourism. The big customer base is interested in newly developed products that have sophisticated features that have been included. One of the primary reasons for the expansion of the market is that items can now be found in a wide range of configurations with regard to their dimensions, colour palettes, and decorative motifs.

Market Restraints

The market for bags and containers throughout the world has been significantly impacted as a result of COVID-19. The most important factor contributing to lower sales is the significant decline that occurred in the travel and tourist business during the epidemic. The expansion of the bags and containers market share was stunted as a result of a lockdown on a country-by-country basis, an absolute restriction on travelling internationally, as well as closed shopping malls and retail outlets.

On the other hand, once things return to normal, it is anticipated that the market will gain pace similar to that seen in the years before the pandemic and will seize a sizeable market share in the years to come.

Regional Analysis

Based on region the market is segmented into North America, Asia Pacific, Europe, Latin America and the Middle East.

The North American market to expand at a significant rate throughout the course of the projection period. Alterations in people's ways of life led to an increase in the number of passengers going in and out of the region. Additionally, the growing pattern of people spending the weekend and holidays with their relatives and friends contributes to the expansion of the territory.

Throughout the year 2021, Asia Pacific held the greatest share of the worldwide market for bags and containers, and it is projected to be the region with the quickest growth, with a CAGR of 5.9%, during the time period covered by the projection. The expansion of the market will be fueled by factors like an increase in the number of people working, an increase in the number of top brands that are easily accessible, local and international travel as well as an increase in discretionary money. In addition, the increased desire for items that are fashionable and stylish is another factor that drives growth in the region.

Report Scope

Report Metric Details
Segmentations
By Type
  1. Backpacks
  2. Travel Bags
  3. Sports Bags
  4. Tote Bags
By Distribution Channel
  1. Online
  2. Offline
Company Profiles Sonoco Products Company Cryopak Europe Pelican BioThermal Cold & Co ACH Foam Technologies, Inc. Saeplast AccsA’tech Insulated Products Corporation TKT GmbH Snyder Industries Envirotainer AB.
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The market for bags and containers is segmented into the following categories: Type, Distribution Channel and Region.

By Type Analysis

It is anticipated that the market for backpacks will account for the greatest proportion of the bags and containers global market by the year 2021 and will also be one of the categories with the highest rate of growth throughout the forecast period. This might be attributed to the increased demand for backpacks due to the fact that they can be used for a variety of purposes in day-to-day living.

The market for sports bags and tote bags is expected to increase at the quickest rate, reaching a CAGR of 6.0% between the years 2022 and 2028. Demand for sports bags in the global market is growing as a result of an increase in the number of people participating in sports and becoming more health aware. In addition, tote bags are becoming increasingly popular as a means of transporting many items due to its adaptability and capacity to hold several different objects. The increased demand for premium and branded tote bags will be the primary driver of market expansion within this submarket.

By Distribution Channel Analysis

Based on the Distribution channels the market is divided into Online and Offline. The offline channel held more than 70% of the market share in the global market for bags and containers in 2021, and it is anticipated to expand considerably over the course of the forecast period. The rise of the offline channel market is being driven by a number of factors, including the increased urbanisation of the world's population, the proliferation of supermarkets and hypermarkets, and the opening of specialised retail outlets run by major brands. As a result of the fact that a significant proportion of the population continues to choose more conventional methods of purchasing goods, the market for bags and containers sold at conventional stores is expanding.

It is anticipated that the online category would be the distribution channel with the highest compound annual growth rate between the years 2022 and 2028, with a CAGR of 6%. The expansion of the market category may be attributed, in large part, to the growing interest in purchasing premium goods through online retailers.

Market Size By Type

Market Size By Type
  • Backpacks
  • Travel Bags
  • Sports Bags
  • Tote Bags
  • Top Key Players

    Bags and Containers Market Share of Key Players

    Bags and Containers Market Share of Key Players
    Sonoco Products Company Cryopak Europe Pelican BioThermal Cold & Co ACH Foam Technologies, Inc. Saeplast AccsA’tech Insulated Products Corporation TKT GmbH Snyder Industries Envirotainer AB. Others

    Frequently Asked Questions (FAQs)

    What is the estimated growth rate (CAGR) of the Bags and Containers Market?
    Bags and Containers Market size will grow at approx. CAGR of 5.6% during the forecast period.
    Some of the top prominent players in Bags and Containers Market are, Sonoco Products Company, Cryopak Europe, Pelican BioThermal, Cold & Co, ACH Foam Technologies, Inc., Saeplast, AccsA’tech, Insulated Products Corporation, TKT GmbH, Snyder Industries, Envirotainer AB., etc.
    North America has held a dominant position in the Bags and Containers Market, with the largest market share.
    The region with the most rapid expansion in the Bags and Containers Market is Asia Pacific.
    The global Bags and Containers Market report is segmented as follows: By Type, By Distribution Channel


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