The global hydration backpack market size is anticipated to reach USD 701.9
million by 2025 registering a CAGR of 12.4%, according to a new report by Grand
View Research, Inc. Increasing number of hiking enthusiasts, especially in
emerging economies, such as India, China, and Brazil, is expected to assist in
market growth over the forecast period. Moreover, rising awareness about
maintaining a healthy lifestyle has led to increased participation in various
outdoor activities, such as cross country running and walking, thereby fueling
the product demand.
Sports end user segment accounted for the
largest market share in 2018. Various sports associations are spreading
awareness about the importance of proper hydration and are advising athletes to
use hydration packs, boosting the product adoption. However, the military
segment is anticipated to expand at the fastest CAGR of 13.0% owing to the
introduction of camouflage fabrics. Specialty store was the leading
distribution channel segment in 2018 and will retain the position throughout
the forecast years.
Major companies, such as Decathlon S.A. and
Lululemon Athletica, Inc., are focusing on enhancing their geographic reach,
which, in turn, is expected to drive the segment growth. For instance,
Decathlon has around 40 stores in U.K. and plans to open a few more by the end
of 2019. Online segment is anticipated to expand at the fastest CAGR of 13.1%
over the forecast period. Extensive usage of smartphone and exposure to digital
media, especially in developing countries like India and China, is expected to
assist in product sales through online channels.
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https://www.grandviewresearch.com/industry-analysis/hydration-backpack-market
https://www.grandviewresearch.com/industry-analysis/hydration-backpack-market
Further key findings from the study suggest:
· North America was the dominant regional
market for hydration backpack in 2018 and will expand further at a steady CAGR
from 2019 to 2025. The market is driven by the increasing participation in
outdoor activities
· Asia Pacific is projected to witness the
fastest growth over the forecast period due to rising popularity of outdoor
activities, such as trekking, cycling, and cross country running, in emerging
countries
· Moreover, rising number of retail outlets
as major companies are focusing on expanding their businesses in APAC due to
potential growth opportunities is expected to impel market growth
· The global hydration packs market is highly
competitive in nature. Some of the key companies are Vista Outdoor Operations
LLC; Cascade Designs, Inc.;Samsonite IP Holdings S.A.R.L.; Osprey Packs, Inc.;
Deuter Sport GmbH; HydraPak, LLC; Mazama Designs, LLC; Jack Wolfskin; and
Columbia Sportswear Company
Grand View Research has segmented the
global hydration backpack market on the basis of end-user, distribution
channel, and region:
Hydration Backpack End User Outlook
(Revenue, USD Million, 2015 - 2025)
·
Sports
·
Military
Hydration Backpack Distribution Channel
Outlook (Revenue, USD Million, 2015 - 2025)
·
Specialty Store
·
Departmental Store
·
Online Retail
Hydration Backpack Regional Outlook
(Revenue, USD Million, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
