Hydration Backpack Market Size to Reach USD 981.33 Million by 2030 – Rising Demand for Outdoor Adventure Activities to Propel Growth: The Brainy Insights
The hydration backpack market is anticipated to be driven throughout the forecast period by several factors, including an increase in risk-taking outdoor activity participation, a growing appreciation for the importance of leading a healthy lifestyle, and an increase in internet users in developing countries, which will raise product awareness. North America, which accounted for 38.25% of the total revenue in the global hydration backpack market in 2022, led the market revenue share.
| Source: The Brainy Insights
Newark, March 15, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 401.19 million in 2022 hydration backpack market will reach USD 981.33 million by 2030. Hydration backpacks are in high demand since they provide a practical hands-free application and assist in preserving ideal hydration while moving. Throughout the forecast period, the market is likely to be driven by factors including rising participation in risk-taking outdoor activities, a growing understanding of the value of living a healthy lifestyle, and an increase in internet users in developing nations, which will increase product awareness.
Download PDF Brochure: https://www.thebrainyinsights.com/enquiry/sample-request/13163
Key Insight of the Hydration Backpack Market
Europe to account for the fastest CAGR of 14.07% during the forecast period
Europe is expected to have the fastest CAGR of 14.07% in the hydration backpack market. Governments continuously carry out a wide range of programmes to ensure they produce state-of-the-art military hardware. The demand for hydration backpacks is anticipated to grow in the upcoming years due to increased sports equipment purchases by the U.K., Germany, and France. The UK is the most forward-thinking nation among those having military hydration packs in terms of embracing new technologies and supporting their quick adoption. Additionally, the government supports European military equipment, allowing them to dominate the market. To keep the anticipated growth in demand for hydration backpacks, several significant market participants are continuing to invest in these projects.
The military segment is anticipated to grow at the highest CAGR of 13.36% over the forecast period.
The military segment is anticipated to grow at the highest CAGR of 13.36% over the forecast period. Military troops have a greater preference for hydration packs than other items due to their ability to retain a lot more water due to the rising demand for these products. As worries about health and safety in the military and defence industries rise, the market for military hydration products may grow more quickly in the future years. Many nations are boosting their defence spending, which is anticipated to increase items that will supply soldiers with clean water.
The online retail segment is anticipated to grow at the highest CAGR of 12.95% over the forecast period.
The online retail segment is anticipated to grow at the highest CAGR of 12.95% over the forecast period. E-commerce has grown in popularity over the past few years, mainly due to its convenience regarding simple access to online purchasing. The ease of having it all at their disposal has caused consumers worldwide to shift more and more from traditional brick-and-mortar stores to online retailers, which has contributed to the market’s expansion. Many specialised companies are currently oversaturating the market with premium hydration backpacks for a wide range of sports and activities.
Browse Detailed Summary of Research Report with TOC: https://www.thebrainyinsights.com/report/hydration-backpack-market-13163
Report Scope & Segmentation:
|Forecast CAGR||11.83 %|
|2030 Value Projection||USD 981.33 Million|
|No. of Pages||230+|
|Segments Covered||End-user, Distribution Channel, Regions|
|Hydration Backpack Market Growth Drivers||Rising demand for outdoor adventure activities|
Advancement in market
As the official supplier of hydration backpacks, filtration systems, sports bottles, and drinkware for the UTMB World Series, having started in June 2022, CamelBak partners with the tournament.
The Cloud Walker, Rim Runner X, and Arete series of hiking hydration backpacks from CamelBak was redesigned for hiking expeditions and were released in May 2022. The new product line includes appealing elements, including packability, comfort, lightness, breathability, and fashionable styles.
Gregory Mountain Products unveiled its 2022 Ambassador Team in May 2022. This team of 13 storytellers and content creators comprises brilliant, varied individuals who were picked for their passion for the great outdoors and their involvement in local communities.
Driver: Rising demand for outdoor adventure activities
One of the main drivers of the global hydration backpack market is the increased demand for outdoor adventure activities, has substantially impacted market growth. As people around the world have become more interested in leisure activities as a complement to their busy lives and as a way to reduce stress, sports have grown in popularity. The market has grown due to increased consumer understanding of the value of practising safe hiking practices and staying hydrated when participating in activities. Due to their busy schedules and health issues, people pick adventure sports like hiking, biking, skiing, and trekking to unwind. For both developed and developing countries, the growth of the global economy and the increase in disposable income will make investing more in travelling abroad and activities more accessible. Several opportunities presented by the expanding trend of online selling are changing how e-commerce is seen. As a result of the growing customer demand, essential businesses have a significant opportunity to increase sales and expand their regional reach. By utilising social media and selling their products in various online marketplaces, many companies have succeeded in growing their consumer base. Manufacturers of backpacks and travel bags are enthusiastic about boosting the visibility of their products throughout places to distinguish themselves from their competitors. Due to the market’s excellent opportunity for businesses to engage with their audience, internet usage is rapidly rising. As more and more body mapping technologies are integrated with ventilation in hydration backpacks, it is projected that the market for hydration backpacks will grow gradually over the coming years. Manufacturers also offer hydration backpacks with built-in hydration compartments, vapour-barrier liners, and reflective closed-cell insulation that keeps water cool for up to four hours. In addition, manufacturers are putting a lot of effort into developing transparent hydration backpacks that will meet the needs of various end customers worldwide.
Restraint: Difficult to set up and clean during events
Even though it can appear effortless, setting up and cleaning hydration packs during events can be challenging. To reach the reservoirs, users must take off their gear, detach their bags, fill them with water, and wash the packs with cleaning tablets. The most recent version of these packs may eventually disintegrate and leak under challenging conditions due to soft plastic components. The non-transparent structure of military hydration products can make them challenging to commercialise in the future, which could reduce the demand for hydration backpacks. The lack of disposable income and hefty hydration backpack prices will likely restrict the market’s growth in underdeveloped nations.
Request for Customization: https://www.thebrainyinsights.com/enquiry/request-customization/13163
Some of the major players operating in the hydration backpack market are:
• Columbia Sportswear Company
• High Sierra
• Source Tactical Gear
• Mazama Designs, LLC.
• TETON Sports
• Vista Outdoor Inc. (CamelBak)
• Gregory Mountain Products
• USWE Sports AB
• Osprey Packs Inc.
• Hydro Flask
Key Segments cover in the market:
By Distribution Channel:
• Departmental Stores
• Specialty Stores
• Online Retail
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Immediate Delivery Available | Buy This Premium Research Report: https://www.thebrainyinsights.com/buy-now/13163/single
About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
Head of Business Development