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Hydration Backpack Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global hydration backpack products market was valued at USD 1.5 billion in 2021 and is projected to expand at a CAGR of 5.2% from 2022 to 2030. Hydration backpacks have become popular among athletes and outdoor enthusiasts in recent years. The demand for these products is increasing as they help in keeping the body hydrated while on the go. Moreover, these backpacks are lightweight and convenient to carry, which is further driving the market growth.
The rising number of adventure activities and endurance sports is driving the demand for hydration backpacks. The increasing popularity of trekking and hiking is propelling the demand for these products as they help in carrying the fluids and other essentials conveniently. Furthermore, the rising trend of outdoor activities among young people has created a demand for lightweight and portable backpacks. For instance, in June 2021, CamelBak launched the new Outlander, a lightweight backpack with a 3-liter bladder, designed for outdoor enthusiasts.
The rising demand for technologically advanced products is expected to drive the market in the coming years. Manufacturers are introducing new features such as adjustable shoulder straps and ergonomic designs to provide a better user experience. For instance, in October 2021, H2Odyssey launched a new and improved hydration pack, designed with a patented air-flow system that is designed to keep the user cool and comfortable. The product also features a detachable shoulder strap and adjustable waist belt for improved comfort and convenience.
The rising importance of sustainable and eco-friendly products is creating an opportunity for market players. Manufacturers are focusing on introducing new products made from recycled materials and are free from BPA and other harmful chemicals. For instance, in October 2021, Osprey launched their new 2020 hydration backpack, which is made from recycled plastic bottles. The product is designed to be more lightweight and durable while still providing the same excellent performance.
The increasing availability of these products online is accelerating the demand. The e-commerce platform offers various discounts and offers on these products, which is driving the growth of the online sales channel. Furthermore, the increasing use of social media platforms for marketing and promotions is expected to fuel the market growth. For instance, in June 2021, Zeta launched their new hydration backpack with features such as a 3-liter bladder, adjustable shoulder straps, and a reflective strip for improved visibility. The product was heavily promoted on social media platforms, which helped in driving the sales.
Product Insights
The hydration backpacks segment held a share of around 51.9% in 2020 and is expected to grow at a CAGR of 8.3% over the forecast period. Hydration backpacks are widely used to carry water and other beverages when travelling or during outdoor activities. Growing popularity of outdoor activities such as trekking, camping, rock climbing, and skiing across the globe is anticipated to drive the demand for hydration backpacks over the forecast period. According to an article published by the University of North Carolina at Charlotte in April 2020, outdoor activities help individuals to reduce their stress and anxiety levels.
The hydration vests segment is anticipated to register the fastest CAGR of 8.6% over the forecast period. Hydration vests are designed to fit snugly and comfortably on the body with adjustable straps, and are preferred over other hydration products due to their light-weight and compact design. Increasing demand from athletes and professional runners are some of the factors driving the market growth. According to an article published by the University of Toronto in June 2020, hydration vests are preferred by athletes and professional runners over traditional hydration packs, due to their lightweight and comfortable design.
Distribution Channel Insights
The retail stores segment is expected to account for the majority of the market share in 2022. The growth of the segment is mainly driven by the rising demand for hydration backpacks from sports enthusiasts and athletes. Retail stores provide customers with a wide range of products, including specialty items such as hydration backpacks, and also assist them in making quick purchasing decisions for the required product.
The online segment is anticipated to expand at the highest CAGR of 12.4% over the forecast period. The growth of the segment is mainly attributed to the increasing internet penetration and the rising number of e-commerce websites offering a wide range of hydration backpacks. In addition, the increasing trend of online shopping due to the lockdown imposed by governments to contain the spread of COVID-19 has boosted the sales of hydration backpacks through online channels. For instance, in August 2020, Platypus, a brand of hydration backpacks, launched its official website to increase the brand’s reach and sales.
Type Insights
The hydration backpack products market is segmented into two categories – traditional and modern. The traditional segment is anticipated to hold the largest revenue share of 56.2% in 2022. The traditional hydration backpacks are made from canvas, nylon, or leather and have been in the market for a long time. The traditional backpacks are widely used by outdoor enthusiasts, hikers, and campers. Furthermore, the traditional backpacks are cost-effective and have a long life span.
The modern segment is anticipated to expand at the highest CAGR of 10.4% over the forecast period. The modern hydration backpacks are made from synthetic materials, such as polyester and PVC, and are designed for various activities, such as running, cycling, and hiking. Additionally, they are designed with features such as adjustable straps, breathable mesh, and reflective strips. Furthermore, modern hydration backpacks are durable, lightweight, and can be used for long periods of time.
Regional Insights
North America is expected to dominate the hydration backpack market and accounted for the largest revenue share of over 37.2% in 2022. Consumers in the region are increasingly adopting hydration backpacks as a convenient and efficient way to stay hydrated while outdoors. The increasing demand for such backpacks mainly results from the growing popularity of outdoor activities such as camping, cycling, and running in the region. Also, the presence of several prominent players in the region, such as CamelBak, Nathan, and Osprey, is expected to propel the growth of the market in the region.
Asia Pacific is expected to witness the fastest growth in the coming years. This growth is mainly attributed to the rapidly increasing population and rising disposable income in the region. In addition, the increasing adoption of technologically advanced hydration backpacks in the region is also driving the growth of the market. For instance, in June 2021, Gatorade launched its Gx Hydration Pack with several features, such as a temperature-control system, a Bluetooth speaker, and a voice assistant.
Financial Projections
In this part of the hydration backpack products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your hydration backpack products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a hydration backpack products business comes from the sale of hydration backpacks, and other related products, such as accessories and replacement parts. Here you will find a list with a description of each of them and other possible sources of profit such as online sales, retail sales, and wholesale sales.
Projecting Expenses
In this section, all the regular expenses related to keeping the hydration backpack products business running will be described. The list of operating expenses includes wages, taxes, rent, insurance, advertising, research and development, and utilities. Additionally, you will need to factor in the cost of purchasing hydration backpacks, accessories, and replacement parts.
Key companies & market share insights
Some of the key companies operating in the hydration backpack market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In May 2022, Osprey launched the Raptor 14, a new generation hydration backpack designed for mountain biking.
– In July 2022, CamelBak launched the Adventure Hydration Pack, a lightweight and durable backpack with a three-liter capacity.
– In August 2022, Gregory Mountain Products launched the Paragon 68, a lightweight backpack designed for backpacking and hiking.
Some of the prominent players in the hydration backpack market include:
– Osprey
– CamelBak
– Gregory Mountain Products
– High Sierra
– The North Face
– Deuter
– Lowe Alpine
– Mammut
– Vaude
– Patagonia
Global Hydration Backpack Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global hydration backpack products market based on product, distribution channel, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Hydration Backpacks
– Hydration Bottles
– Hydration Belts
– Hydration Vests
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Offline
– Others
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Hydration Backpack Products?
[A]: Hydration backpacks are becoming increasingly popular due to their convenience, portability, and ability to keep the user hydrated without having to stop and take a break. Moreover, the increasing demand for outdoor activities and adventure sports are expected to drive the market for hydration backpacks. Additionally, the introduction of lightweight materials, such as polyurethane, polyester, and neoprene, are expected to further fuel the growth of the hydration backpack products market.
[Q]: Who are the Key Players in the Hydration Backpack Products Market?
[A]: Key players in the market include Osprey Packs, Inc., Deuter GmbH & Co. KG, CamelBak Products LLC, Vibrelli LLC, Platypus Hydration LLC, VSSL Gear, LLC, Thule Group, Nathan Sports, Inc., Salomon SAS, and RUPUMPACK.
[Q]: Which Region Offers the Largest Opportunity for Sales of Hydration Backpack Products?
[A]: The Asia Pacific region is expected to witness the highest growth rate over the forecast period due to the growing demand for outdoor activities and sports in countries such as China, Japan, and India.
[Q]: What are the factors driving the hydration backpack products market?
[A]: Factors such as the increasing demand for outdoor activities, growing awareness about health and fitness, and the rising disposable income are expected to drive the market for hydration backpacks over the forecast period. Additionally, the introduction of innovative designs and new materials used for hydration backpacks will also contribute to market growth.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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