Chest Bags Industry Overview
The global chest bags market size was valued at USD 3.2 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 9.3% from 2022 to 2030.
With the increasing adoption of mobile lifestyles by more customers, the importance of technical features increases. A large number of individuals spend a lot of time outside the home carrying all their day-trip essentials. The outbreak of COVID-19 (coronavirus) has had a negative impact on the overall bags industry. It caused a decline in the growth of the market creating a mass disruption for buyers as well as sellers. Markets and production units had been shut down globally which stopped the production, sale, and marketing of the product.
Gather more insights about the market drivers, restrains and growth of the Global Chest Bags Market
However, it offered an opportunity for the companies to look after their supply chain relationship and business models for the future. It is observed that online retailing has recorded a significant rise amid the COVID-19 outbreak. Chest bags are the perfect choice for an everyday active lifestyle. They are usually just the right size and can fit everything one might need in a day. Some of the essentials, like for example gadgets, sunglasses, keys, and credit cards are safe in this kind of bag. With the evolving lifestyle of a greater number of professionals working for both men and women, the necessity of carrying basic essentials and accessories increases thereby propelling the growth of the market in focus.
The market for chest bags is mainly driven by the functional aspect of such bags as it offers a hands-free experience. In addition to that, all the essentials are close to the user which offers them to grab the same quickly. Further, it comprises a number of compartments that can be used to carry things around. Additionally, increasing activities such as camping and hiking are the major factors contributing to the growth of the market. Also, growth in recreational activities is expected to positively influence market growth.
Browse through Grand View Research's Clothing, Footwear Accessories Industry Research Reports.
- Sunglasses Market - The global sunglasses market was valued at USD 28.31 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030. Increasing awareness regarding the harmful effects of UV rays on the eyes, along with the rising acceptance of eyewear, including sunglasses, as a part of modern lifestyle accessories is anticipated to propel the demand for sunglasses during the forecast period.
- Handbag Market - The global handbag market size was valued at USD 49.12 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 5.8% over the forecast period. In recent years, handbags have become one of the desired personal products worldwide. The accessibility, visibility, and desirability of various handbags have boosted their widespread recognition and strong performance.
Chest Bags Market Segmentation
Grand View Research has segmented the global chest bags market based on product, application, end user, distribution channel, and region:
Chest Bags Product Outlook (Revenue, USD Million, 2017 - 2030)
- Sling
- Strap
Chest Bags Application Outlook (Revenue, USD Million, 2017 - 2030)
- Tactical
- Sports
- Travel
- Others
Chest Bags End-user Outlook (Revenue, USD Million, 2017 - 2030)
- Men
- Women
Chest Bags Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
- Online
- Offline
Chest Bags Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Central South America
- Middle East Africa
Market Share Insights
- October 20219: H M Hennes Mauritz AB acquired majority stakes in online second-hand retailer Sellpy after a series of investments to establish itself as a sustainable fashion brand.
Key Companies profiled:
Some prominent players in the global chest bags market include
- HM Group
- Asos
- Christian Dior
- Louis Vuitton
- Cut Stitch
- Western Textile Manufacturing, Inc.
- Baikal Inc.
- Waterfly Chest
- Clutch Made Factory
- Continental Bag Company
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