New York, United States , April 16, 2024 (GLOBE NEWSWIRE) -- The Global Sleeping Bag Market Size is to Grow from USD 1,721 Million in 2023 to USD 3,150 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 6.23% during the projected period.
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Sleeping bags are lightweight, insulated bags used for warmth and comfort during outdoor activities such as hiking and camping. Typically, the exterior shell is made of tough, water-resistant materials, while the interior lining is made of softer materials. They are available in a variety of shapes, including mummy, double, and rectangular bags, each with a different temperature rating. The market is primarily driven by the growing millennial population's interest in outdoor leisure and adventure travel, product advancements such as lightweight and compressible fabrics, and the demand for sleeping bags that can be personalized and used for a variety of purposes. The growing knowledge and spending power of customers worldwide are the primary factors driving the sleeping bag market’s rise. The increase in camping sites, hiking and trekking paths, and high-altitude adventure activities are driving up demand for sleeping bags. The increased focus on tourism and travel by governments and organizations worldwide has resulted in a notable expansion of the sleeping bag market. However, because there are so many domestic and foreign brands available, the sleeping bag market is highly competitive. Private label brands, merchandise manufacturers, and counterfeit goods are all formidable competitors. The expansion of existing brands is being threatened by new competitors who are selling high-quality items at competitive costs.
Browse key industry insights spread across 200 pages with 115 Market data tables and figures & charts from the report on the "Global Sleeping Bag Market Size, Share, and COVID-19 Impact Analysis, By Insulation Material (Down Fill, Synthetic Fill, and Others), By Product (Square Sleeping Bags, Mummy Sleeping Bags, Sleeping Pods, and Others), By Distribution Channel (Online, Offline), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033)."
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The synthetic fill segment is anticipated to hold the greatest share of the global sleeping bag market during the projected timeframe.
Based on the insulation material, the global sleeping bag market is divided into down fill, synthetic fill, and others. Among these, the synthetic fill segment is anticipated to hold the greatest share of the global sleeping bag market during the projected timeframe. This is because synthetic sleeping bags are perfect for outdoor and campers who don't care too much about weight. Even after being wet, a sleeping bag filled with synthetic fill will remain warm. Furthermore, because moisture is retained between the fibers rather than between them, synthetic bags dry extremely quickly.
The square sleeping bags segment is anticipated to grow at the fastest pace in the global Sleeping Bag market during the projected timeframe.
Based on the product, the global sleeping bag market is divided into square sleeping bags, mummy sleeping bags, sleeping pods, and others. Among these, the square sleeping bags segment is anticipated to grow at the fastest pace in the global sleeping bag market during the projected timeframe. This is caused by several connected elements, such as their lightweight and compact design. It also provides the body with a roomy and comfy area to move around in.
The online segment is predicted to grow at the highest pace in the Sleeping Bag market during the estimated period.
Based on the distribution channel, the global sleeping bag market is divided into online, and offline. Among these, the online segment is predicted to grow at the highest pace in the sleeping bag market during the estimated period. This is the result of more people having access to the Internet and a more digitally connected world. The increasing popularity of cashless buying and selling has also led to significant developments in the e-commerce sector over time.
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North America is expected to hold the greatest share of the global sleeping bag market over the forecast period.
North America is expected to hold the greatest share of the global sleeping bag market over the forecast period. The increase in camping trips, the number of skilled hikers and mountain climbers, the accelerating pace of raw material imports, and the growth in outdoor and recreational activities are some of the causes of this. The outdoor retail market in North America is expanding steadily, regardless of the weather or the status of the economy. Consequently, countries actively participate in approving plans for the development and expansion of the outdoor recreation sector.
Europe is predicted to grow at the fastest pace in the global sleeping bag market during the projected timeframe. Hiking, camping, and backpacking are popular outdoor activities in Europe, where there is a strong outdoor leisure culture. As interest in these activities grows, so does the necessity for equipment related to them, including premium sleeping bags. Adventure tourism, which usually involves outdoor pursuits in pristine environments, has been expanding worldwide. In addition, adventure-seeking tourists from all over the world are drawn to Europe by its abundance of outdoor destinations and scenery. This trend likely indicates a greater requirement for sleeping bags among travelers. As concerns about environmental sustainability grow, there is a growing market for eco-friendly outdoor gear.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Sleeping Bag Market include Jarden Vaude, Hyke & Byke, Big Agnes, Sleepingo, AMG Group, Exxel Outdoors, Wildhorn, Gerlert, Jack Wolfskin, Johnson Outdoors, V F. Corp, Oase Outdoors, Snugpak, Columbia Sportswear, Blackpine Sports, and Others.
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Recent Developments
- In March 2022, the 3N1 Sleeping Bag line was introduced by Big Agnes to alter their popular sleep method. This series was imaginatively designed to provide user versatility and temperature management, offering three sleeping bag choices in a single system.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Sleeping Bag Market based on the below-mentioned segments:
Global Sleeping Bag Market, By Insulation Material
- Down Fill
- Synthetic Fill
- Others
Global Sleeping Bag Market, By Product
- Square Sleeping Bags
- Mummy Sleeping Bags
- Sleeping Pods
- Others
Global Sleeping Bag Market, By Distribution Channel
- Online
- Offline
Global Sleeping Bag Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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