Pune India, Dec. 02, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the School Bags market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the School Bags market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as material, distribution channel, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global School Bags market are NIKE, Inc., Puma SE, Delsey SA, Targus Inc., VIP Industries Ltd., VF Corp., Oasis Bags, Herschel Supply Company, Samsonite International SA, and LVMH Moët Hennessy - Louis Vuitton among others. To achieve a substantial market share in the worldwide School Bags market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, NIKE, Inc. is one of the most significant manufacturers and distributors present in the global School Bags market.
School bags are generally used for carrying schoolbooks and school supplies including pencils, writing pads and other tools. These bags are made of various materials including Leather, Jute, Nylon, Synthetic fibres, and Polyester. The wide variety of school bags enables students choose bags according to their requirement on type of material, shoulder straps, and number of pockets and pouches.
The number of pupils in worldwide schools has increased constantly over the past several years. For instance, about 452 million children were enrolled in secondary school in 2000; however, this number has reached over 601 million students in 2019. Moreover, the major international schools are seeing huge growth in student enrollment across countries such as China, India, the UAE, and Saudi Arabia. For instance, according to the report on United Information System for Education Plus (UDISE+) 2019-20 for School Education in India, the Gross Enrollment Ratio of school education in India has improved significantly in 2019-20 as compared to 2018-19. This growth in student enrollment ratio fuels demand for school bags; thus, fuelling the school bags market growth.
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Scope of School Bags Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Material, distribution channel |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | NIKE, Inc., Puma SE, Delsey SA, Targus Inc., VIP Industries Ltd., VF Corp., Oasis Bags, Herschel Supply Company, Samsonite International SA, and LVMH Moët Hennessy - Louis Vuitton among others |
Segmentation Analysis
Nylon segment is expected to be the fastest growing segment in 2021.
The material segment includes canvas, polyesters, nylon, leather, and others. Nylon segment is expected to witness highest growth rate during the forecast period. This growth is mainly attributed to higher elasticity of nylon which makes them an essential material in manufacture of school bags to carry various load requirements. Furthermore, in August 2022, Cariuma, the eco-friendly sneaker brand launched the JJ Backpack. This bag is made of 100% recycled nylon, along with the buckles and straps that are constructed from recycled post-consumer products and plastic waste. This manufacturing trend of recycled nylon bags is expected to create lucrative growth opportunities for the nylon segment.
Online retail segment is expected to be the fastest growing segment in 2021.
The distribution channel segment includes supermarkets and hypermarkets, convenience stores, online retail, and others. Online retail segment is expected to witness highest CAGR during the forecast period. Increased internet penetration in various countries and rising dependence of millennials and generation X along with generation Z parents on e-commerce and internet is opportunistic for growth of this segment.
In addition to this, the factors such as rising preference to personalization, extensive availability of greater discounts as compared with the offline stores, and more consumer convenience contributes to the growth of this segment. Furthermore, COVID-19 pandemic has positively impacted on online sales of school bags. For instance, the more people are embracing social distancing and turning towards online shopping due to the pandemic.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the School Bags include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
Asia-Pacific region witnessed a major share. Growing student population, rising awareness about education among children, changing lifestyle, and rising consumer disposable income in Asia-Pacific fuels growth of the School Bags market. However, Europe is expected to witness considerable growth rate during the forecast period. Growth of the market in this region is mainly driven by significantly higher enrollment ratio in schools along with high disposable income of consumers.
Country Analysis
Germany
Germany School Bags market size was valued at USD 1.99 billion in 2021 and is expected to reach USD 3.06 billion by 2029, at a CAGR of 5.8% from 2022 to 2029.
Germany is one of the leading school bags consumers in Europe. For instance, this country is Europe's major import market for office and school bags with the value of about $203.75 million.
In addition, school attendance is obligatory in Germany. Also, most of the schools in this country are run by the state government and there is no charge for children to attend. This factor is leading to the increased number of school going children in Germany, boosting demand for school bags.
China
China School Bags market size was valued at USD 3.77 billion in 2021 and is expected to reach USD 5.68 billion by 2029, at a CAGR of 5.5% from 2022 to 2029. Rising disposable income in China has favored demand for School Bags. In addition, this country is one of the leading producer and consumer of school bags around the globe. Also, the country has compulsory primary school education which lasts 6 years. This has significantly boosted growth of School Bags sector in the country.
In addition, the number of factors including, rapid globalization, increasing purchasing power, and rising significance of international brands in this country is expected to create lucrative growth opportunities for the market.
India
India School Bags market size was valued at USD 0.79 billion in 2021 and is expected to reach USD 1.28 billion by 2029, at a CAGR of 6.4% from 2022 to 2029. India is one of the strongest growing economies in Asia. The factors including increasing school going children and rising disposable income has driven growth of the India School Bags market.
Moreover, in past few years, this country has made great strides in improvement of access to quality education, reducing the number of out-of-school, and increased elementary school enrollment. This has fueled demand for school bags in the country. Furthermore, in March 2022, the Ministry of Women and Child Development (MoWCD) in partnership with the Ministry of Education of India and UNICEF introduced Kanya Shikhsa Pravesh Utsav, a campaign for bringing back out of school adolescent girls in India. Such government initiatives in the country are opportunistic for growth of the school bags market.
Covid-19 Impact
Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, oil and gas, automobile, etc. The demand for school bags has decreased during the period owing to the regulations on social distancing and supply chain disruptions. In most of the regions, the schools were closed due to social distancing norms and manufacturing facilities of School Bags were also closed in the second and third quarters of fiscal year 2020. Hence, as the school going children were temporarily closed during this period, the demand for School Bags significantly decreased.
However, the pandemic has caused upsurge in online sales of School Bags. Also, school bags market is projected to see considerable growth in post pandemic.
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