Research Nester has released a report titled “Floating Backpack Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global floating backpack market in terms of market segmentation by product type, product size, demographics, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Floating backpacks are used to reduce the stress impact on the body affected by carrying heavy loads on the back. Factors such as increasing travel and tourism industry backed by the rising number of travelers, followed by the rising need for light weighed backpacks amongst individuals for increasing load carrying efficiency.
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The floating backpack market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by end user into military and non-military, out of which, the military segment is anticipated to hold the leading share in the floating backpack market owing to the benefit of the backpack, which can be used for different purpose, as well as to carry heavy loads on the back.
Regionally, the floating backpack market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is predicted to hold the largest market share owing to the continuous rise in number of hikers and daily commuters in the region, as well as for the presence of leading market players.
Growing Cases of Arthritis and Related Medical Injuries
The Centers for Disease Control and Prevention (CDC), stated in one of its statistics that by the end of 2040 around 78 million or 26% of US adults aged 18 years or older are anticipated to have arthritis diagnosed by doctors.
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There is an increasing demand for floating backpacks owing to the increasing medical problems such as increasing strain on shoulders and joints, followed by the rising cases of arthritis. Further, rise in the number of commuters worldwide, coupled with the concern of their heavy luggage, is escalating the need for carrying the backpack more easily while travelling. Such factors are anticipated to drive the growth of the floating backpack market. Additionally, increasing need for light weighed backpacks by military personnel for transportation of goods is also anticipated to drive the growth of the global floating backpack market.
However, concerns regarding the high costs of floating backpacks as well as for the lack of awareness for the product is estimated to hamper the growth of the floating backpack market.
This report also provides the existing competitive scenario of some of the key players of the global floating backpack market which includes company profiling of Lightning Packs LLC, Tortuga Backpacks LLC and Nomatic LLC. Moreover, several players in the backpack industry are increasingly expanding their product width and line by utilizing advanced technologies that help to reduce the overall laden weight on the backpack, and further helps the user utilizing the floating backpack to feel light on their back. Additionally, several players are also increasingly spending on research and developmental activities that help to advance the technologies in backpacks. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global floating backpack market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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