Market Introduction
The European continent compromises of several developed and developing countries such as Germany, France, Italy, the UK, and Russia. According to European Commission, tourism industry is the one of the largest economically significant industries in Europe. The increased hiking and trekking activities among people as a break from busy & sedentary lifestyle are driving the demand for trekking rucksack market. Due to the consumer shift towards physical & related outdoor recreational activities, the trekking rucksack market is expected to grow at an exponential rate in the forecast period. The fact that the major companies are experimenting with new marketing strategies to promote and sell their products alongside the trekking & tour organizers in order to cater to the core target audience is encouraging for the trekking equipment sector. Moreover, the pandemic has heightened the demand for outdoor activities in Europe as most of the countries in Europe were under lockdown and consumers increasingly sought outdoor activities which tend to be socially distant. Additionally, consumers have adopted healthier lifestyles and are now willing to spend more on equipment and gear pertaining to the outdoor activities.
In Europe, currently, the UK and Russia, followed by France, Spain, Italy, and Germany, are the hardest-hit countries by the COVID-19 pandemic. Initially other member states had implemented drastic measures and travel restrictions, including partially closing their borders which impacted the import and export of products. The gradual upliftment of lockdown restrictions in certain countries in Europe will facilitate the recovery of various industries and logistics operations which will have a positive impact on the trekking rucksacks market. Upliftment of travel restrictions is propelling people to go on treks and hikes to nearby places. Along with this, the opening up of retail outlets as well as the supermarkets and hypermarkets will increase the availability of trekking rucksacks leading to a positive impact on the regional market.
Market Overview and Dynamics
The trekking rucksack market in Europe is expected to grow from US$ 706.38 million in 2021 to US$ 990.32 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028. Flashpackging or poshpackging refers to backpacking with a higher budget. A flashpacker is an affluent backpacker with more disposable income to spend during the travel. They have a higher budget set aside for their treks and travel in luxury. Flashpackers are a potential customer target for the premium or luxury trekking rucksack manufacturers as the former can easily opt for highly priced rucksacks with advanced features. According to the statistics cited by the Condor Ferries ltd, millennials and younger Gen Z’s account for the majority of the flashpackers as they are the highest spenders. While travelling, they can spend up to US$ 3,500 per trip or US$ 60 per day. As per the data revealed by the United Nations, Department of Economic and Social Affairs, millennial accounted for approximately 23% of the worldwide population i.e., 1.8 billion millennial, in 2020. Whereas Gen Z accounted for nearly 32% of the world population in 2019, according to the data cited by Bloomberg. Thus, the trekking rucksack market is expected to emerge lucrative for the manufacturers of trekking rucksacks, especially luxury/premium rucksacks, due to the rising trend of flash packing or posh packing.
Key Market Segments
In terms of capacity, the 25-50 litres segment accounted for the largest share of the Europe trekking rucksack market in 2020. In terms of material, the nylon segment accounted for the largest share of the Europe trekking rucksack market in 2020. In term of distribution channel, the specialty store segment held a larger market share of the trekking rucksack market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the trekking rucksack market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Arcteryx; Deuter Sport GmbH; Osprey Packs, Inc.; HYPERLITE MOUNTAIN GEAR; GRANITE GEAR LLC; Vango; and Equip Outdoor Technologies UK LTD among others.
Reasons to buy report
Europe Trekking Rucksack Market – By Capacity
Europe Trekking Rucksack Market – By Material
Europe Trekking Rucksack Market – By Distribution Channel
Europe Trekking Rucksack Market – By Country
Europe Trekking Rucksack Market – Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 706.38 Million |
| Market Size by 2028 | US$ 990.32 Million |
| CAGR (2021 - 2028) | 4.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Capacity
|
|
Regions and Countries Covered
|
|
| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
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The Europe Trekking Rucksack Market is valued at US$ 706.38 Million in 2021, it is projected to reach US$ 990.32 Million by 2028.
As per our report Europe Trekking Rucksack Market, the market size is valued at US$ 706.38 Million in 2021, projecting it to reach US$ 990.32 Million by 2028. This translates to a CAGR of approximately 4.9% during the forecast period.
The Europe Trekking Rucksack Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Trekking Rucksack Market report:
The Europe Trekking Rucksack Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Trekking Rucksack Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Trekking Rucksack Market value chain can benefit from the information contained in a comprehensive market report.
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