April 18, 2024
Sleeping Bags Market

Sleeping Bags Market Primed For Growth Due To Rising Outdoor Activities

The sleeping bag market consists of various products that provide insulation and allow comfortable sleeping during outdoor activities such camping, trekking, and mountaineering. Sleeping bags come in various styles including rectangular, mummy, cylinder, and quilt sleeping bags. Mummy-style sleeping bags are the most popular as they efficiently conserve heat by having a contoured shape that fits closely around the body. Growing participation in outdoor recreational activities has been fuelling demand for high-quality and comfortable sleeping bags.

The Global Sleeping Bag Market Size Is Estimated To Be Valued At Us$ 1.64 Bn In 2024 And Is Expected To Exhibit A Cagr Of 7.9% Over The Forecast Period 2024-2031.

Key Takeaways

Key players operating in the sleeping bag market are The Coleman Company Inc., Johnson Outdoors Inc., Oase Outdoors Aps, Amg Group, Vf Corporation, Kelty, Marmot, Mountain Equipment, Nemo Equipment Inc., Sierra Designs, Snugpak Ltd., Blackpine Sports, Hyke & Byke LLC, Exxel Outdoors LLC, ALPS Mountaineering, Naturehike, Teton Sports, MalloMe, Western Mountaineering, and Mountain Hardwear. The sleeping bag industry players are focusing on new product innovation and launches to cater to customer needs. For instance, the companies are developing lightweight mummy sleeping bags and temperature-rated bags to enhance comfort and performance.

The rising number of outdoor recreational activities is opening lucrative opportunities for sleeping bag manufacturers. Moreover, growing tourism industry is driving demand for budget-friendly and high-quality sleeping bags. The companies are expanding their geographical footprint in emerging countries in Asia Pacific and Latin America to tap the growing demand.

Market Drivers

The increasing number of adventure enthusiasts participating in outdoor recreational activities such as camping, trekking, and mountaineering is a key driver propelling sleeping bag market growth. According to the Outdoor Industry Association, outdoor recreation in the US generated over $887 billion in annual consumer spending in 2020. The rising number of adventure sports events and activities globally has been boosting sales of performance sleeping bags. Moreover, growing awareness about health benefits of outdoor activities is encouraging new participants, thereby driving demand.

Pest Analysis

Political: International safety and environmental regulations and policies impact the sleeping bag market. Laws regarding usage of certain materials influence product development.
Economic: The global economy, disposable incomes and consumer spending influence demand from outdoor enthusiasts and the tourism industry. Changes in currency exchange rates impact international trade.
Social: Participation in activities like hiking, camping and mountaineering is increasing leisure interests. Customers prioritize comfort and features like warmth, durability and packability.
Technological: Manufacturers utilize innovative fabrics, insulation materials and construction methods to improve performance, reducing weight and pack size. Digital media raises awareness of outdoor gear.

The North American region accounts for the largest sleeping bag market share in terms of value currently, driven by participation of individuals and families in outdoor recreation. The Asia Pacific region is anticipated to witness the fastest growth during the forecast period supported by a burgeoning middle class and tourism industry and greater interest in nature sports from younger populations.

Europe holds a considerable share of the global sleeping bag market currently. Established outdoor pursuits along with rising camping and trekking activities year-round sustain demand. South America is also emerging as a sleeping bag market driven by indigenous populations residing near wilderness zones and tourists visiting destinations like Patagonia and the Andes mountains which encompass challenging terrain.

What are the key data covered in this Sleeping Bag Market report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Sleeping Bag Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the Sleeping Bag Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behavior

:- Sleeping Bag Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Sleeping Bag Market vendors

FAQ’s

Q.1 What are the main factors influencing the Sleeping Bag market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Sleeping Bag Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Sleeping Bag market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:

  1. Source: CoherentMI, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it