Future Market Insights’ new survey estimates that the sleeping bag market is anticipated to be worth USD 1.91 billion in 2024 and is projected to reach USD 3.55 billion by 2034, witnessing a CAGR of 6.40% during the projected period.
The rise of eCommerce has made sleeping bags and their variants more accessible to consumers. The demand for sleeping bags is proportional to the increase in adventure enthusiasts.
Due to millennials’ increasing adoption rate of adventurous vacation spots, the demand for sleeping bags is steadily growing. This is because more people are becoming aware of the advantages of camping, such as stress relief and mental and emotional health benefits.
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Manufacturers of sleeping bags are developing new and innovative products to meet consumer demands by introducing products suitable for all kinds of climatic conditions. Key aspects of the market include the rising popularity of outdoor recreational activities, product innovations like lightweight and compressible materials, and demand for multifunctional and customized sleeping bags.
“Demand for multipurpose and personalized sleeping bags is motivated by millennials’ growing affinity towards outdoor recreational activities. These bags come in various designs and sizes to suit multiple consumer types and purposes. Millennials’ growing preference for outdoor leisure activities is one of the market’s main aspects.” says an analyst of Future Market Insights.
Key Takeaways from the Sleeping Bag Market Report
- The sleeping bags industry in Australia is projected to experience a CAGR of 7.8% through 2034.
- Germany’s sleeping bag market is estimated to demonstrate a CAGR of 2.6% through 2034.
- The sleeping bag industry in the United States is anticipated to see a CAGR of 4.0% from 2024 to 2034.
- China’s sleeping bag sector is projected to showcase a CAGR of 10.6% through 2034.
- The sleeping bag market in India is anticipated to display a CAGR of 12.1% through 2034.
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Competitive Landscape of the Sleeping Bag Market
The sleeping bag market is cutthroat, with several businesses producing comparable goods. These businesses provide goods of superior quality and come up with novel concepts to stand apart.
The increasing number of online purchases is altering how this sector operates. Nowadays, it’s simple for consumers to compare costs and buy camping furniture online. To guarantee fair prices and quality products, businesses must put in more effort. There are several firms in the camping gear sector, but they focus on one or two areas. They may concentrate on producing cozy and tailored sleeping bags for outdoor recreation.
Market participants:
The key market participants identified across the value chain of the Sleeping Bags are
- Jack Wolfskin
- AMG Group Vaude
- Johnson Outdoors
- Oase Outdoors
- Exxel Outdoors
- Big Agnes
- Jarden
- V F Corp
- Snugpak
Recent Developments in the Sleeping Bag Market
- The British outdoor company Rab launched Material Facts in July 2023, including comprehensive details on manufacturing, fluorocarbon status, and recycled content for all clothing and sleeping bags. Using a QR code on the product hangtag, users may access the new online tool, which helps them make more educated decisions on sustainability.
- The Forte Men’s and Women’s 20F/35F line, the company’s first recyclable sleeping bag, was unveiled in April 2023 by award-winning outdoor gear designer NEMO.
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Sleeping Bags Market: Market Segmentation
On the basis of Demography
- Male
- Female
- Unisex
On the basis of Insulation Type
- Down
- Synthetic
On the basis of Size
- Kids
- Long
- Regular
On the basis of Shape
- Rectangular Shape
- Mummy Shape
On the basis of Sales Channel
- Multi Brand Stores
- Independent retailers
- Supermarket/Hypermarket
- Online Sales
- Company Website
- 3rd party Online Sales
- Specialty stores
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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