USD 377.88 million
Report ID:
SQMIG25K2064 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|Tables:
61
|Figures:
78
Global Hydration Backpack Market size was valued at USD 377.88 million in 2022 and is poised to grow from USD 414.91 million in 2023 to USD 876.55 million by 2031, at a CAGR of 9.8 during the forecast period (2024-2031).
Global hydration backpack market is anticipated to grow owing to increased military training and involvement in outdoor sports including running, cycling, and hiking. Some of the factors anticipated to propel the growth of the hydration backpack market during the forecast period including the rising popularity of adventurous outdoor activities, growing awareness about maintaining a healthy lifestyle, and an increase in the number of internet users in developing countries. On the other hand, the market for hydration backpacks will experience growth due to consumers' increasing interest in outdoor activities. Moreover, water temperature is maintained by superior materials and methods used by international manufacturers, making it suited for all seasons. Due to reasons including increased awareness of physical fitness, adventure experiences, and the growth of skills and abilities, sports items are evolving more quickly. The industry is expanding as a result of the numerous sports and climbing organisations spreading the word about the advantages of proper hydration and its necessity.
US Hydration Backpack Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 377.88 million
Largest Segment
Sports
Fastest Growth
Military
Growth Rate
9.8 during the forecast period (2024-2031).% CAGR
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Global Hydration Backpack Market is segmented on the basis of End User, Distribution Channel and region. By End User, the market is segmented into sports and Military. By Distribution Channels, market is segmented into, Supermarket, Departmental stores, Online Retailers and Other. By region, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by End Users
Almost 75% of the market in 2022 was contributed to by the sports segment. This is due to the increasing demand for the products among hikers, trekkers, cyclists, and athletes, particularly in industrialized nations. Military troops wear hydration packs to stay hydrated while engaged in combat, training, and other activities. These hydration packs are equipped with rain covers and are constructed of fabric that helps military personnel blend in. Due to their ability to carry a lot of water on missions, hydration packs are becoming more and more popular with military personnel. Military hydration packs are made by companies like CamelBak (Vista Outdoor Products, Inc.), Textrade Associates, and Source Tactical Gear thanks to agreements and partnerships with governments from different nations.
Over the forecast period, it is expected that the military category would expand at the fastest growing CAGR. Because of developments in new technology, such as water bottles with high-resolution liquid crystal display (LCD) displays that enable on-the-go functionality, hydration supplies for the military are anticipated to become more common throughout the assessment period. Also, the military is using these products more regularly now, particularly for training, and market growth is predicted to rise. These tools are anticipated to be utilised by soldiers all around the world in a variety of training activities, such as jogging and sprinting while carrying heavy objects or marching a distance in a sequence, typically involving short sprints; they provide essential assistance.
Analysis by Distribution Channels
The largest segment of the global market based on Distribution Channels is specialty retailers. The specialty retailers sector dominated the global market. As large corporations expand their global footprint by opening stores in tier II and III cities in important markets, specialty store sales will continue to climb throughout the projected period. The specialised retail growth forecast for 2021 from the Grassroots Outdoor Alliance also noted a 29% increase in sales for the national cohort of independent stores in 2020. In an effort to give customers the best possible service, manufacturers are opening their own stores. For instance, CamelBak debuted its first flagship store in the world in November 2017 in Sydney, Australia. The shop sells its water bottles as well as additional hydration equipment, such as backpacks for different activities.
The fastest growing segment of the market is Online Retailers. consumers a convenient and easy way to purchase wine from the comfort of their own homes. E-commerce has grown in popularity over the last several years since it makes shopping easy with just a few clicks. Online shopping is becoming increasingly popular since it allows consumers to compare a variety of options on a single platform. High-quality hydration backpacks for a variety of sports are available from numerous specialised companies in the market. Several well-known brands in the industry, such Osprey Packs, CamelBak, and Source Tactical Gear, are seeing fierce competition from these newcomers.
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North America dominated the global market. In the upcoming years, product demand is anticipated to be fueled by increased product visibility and the region's well-established sports industry. While outdoor activities are becoming increasingly popular in the region, hydration backpacks, particularly hiking hydration backpacks, continue to enjoy tremendous growth in popularity. Hydration backpacks are becoming more popular among customers since they assist people stay properly hydrated while participating in outdoor activities.
Asia Pacific is anticipated to develop at the fastest CAGR. Sales in the Asia Pacific region have been boosted by the rising popularity of hydration backpacks among those who participate in sports and trek activities and by the region's well-established sports sector. In order to boost visibility and build brand recognition, CamelBak also sponsored marathons and cyclothons in India.
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Drivers
Growing demand for outdoor adventure activities
Growing trend towards health and fitness
Restraints
Difficult to Prepare For and Clean Up After Events
Availability of alternative hydration solutions
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Some major multinational corporations with significant global presences are present in the hydration backpack market. In Europe, North America, and much of Asia, top manufacturers account for a considerable portion of the market. The following is a list of some of the significant innovations and tactical moves made by top manufacturers:
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global hydration backpack market analysis, the market growth is driven by increasing demand for outdoor activities and a growing awareness of the importance of hydration during physical exertion. Hydration backpacks typically include a water reservoir or bladder that can hold several liters of water, as well as a tube and bite valve that allow the user to drink water while on the move. The market has been buoyed by a number of factors, including the growing popularity of outdoor activities like hiking, trail running, and mountain biking, as well as increasing awareness of the health benefits of staying hydrated. In addition, manufacturers have introduced new features and innovations to their products, such as more durable materials, better insulation, and improved ergonomics. However, the market also faces a number of challenges, including the availability of alternative hydration solutions like reusable water bottles, which can be more affordable and convenient for some users. In addition, the durability of hydration backpacks can be a concern for some users, particularly if they experience issues with leaking water reservoirs or wear and tear on the backpack fabric over time. Manufacturers can also focus on expanding their reach in regions where the market for hydration backpacks is still developing, as well as targeting specific segments of the market where hydration backpacks may be particularly useful.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 377.88 million |
Market size value in 2031 | USD 876.55 million |
Growth Rate | 9.8 during the forecast period (2024-2031).% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
Recent Developments
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Hydration Backpack Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hydration Backpack Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hydration Backpack Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hydration Backpack Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG25K2064
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