A workout bag is a large bag made from natural and synthetic material to store belongings. These bags are used to keep the essentials for workout sessions such as apparel, shoes, bottle, towel, etc. They are also carried during workout in fitness centers, and while doing yoga, athletics, etc. Workout bags also known as duffel bags were invented in Belgium.
Demand for workout bags has increased over the years due to increasing sports and athletic activity. Young people increasingly participate in these activities because of increasing support from the government and various sports organizations.
Workout Bag Market – Competitive Landscape
Adidas AG was founded by Adolf Dassler in August 1949, at Herzogenaurach, Germany. The company employs 57,000 people in 100 countries. Adidas AG produces over 900 million sports and sports lifestyle products every year.
Nike Inc. was founded in 1964 in Oregon, United States. The company was founded as Blue Ribbon Sports, by Bill Bowerman and Phil Knight and later changed its name to Nike Inc. in 1974. The company is engaged in design, development, manufacturing, and sale of apparel, footwear, equipment, accessories, and services. Nike Inc. is a major manufacturer of athletic shoes and apparel.
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Under Armour Inc.
Founded in 1996, Under Armour Inc. is based in Baltimore, Maryland, United States. The company was founded by Kevin Plankin. The company has 300 brand & factory houses present in 75 countries. It employs more than 14,000 employees in 41 offices globally.
Some of the key players operating in the global workout bag market include Aer Designs LLC, GoRuck, Pume SE, Wildcraft, LVMH, Benetton Gorup S.r.l, Samsonite International S.A., Compass Group Management LLC, JOSHU+VELA LLC, Dsptch LLC, Converse, The North Face, Carhartt, Inc. and Lululemon Athletica Inc.
Workout Bag Market – Dynamics
- Increasing Consumer Awareness about Fitness
Increasing interest in sports and rise in disposable income are fuelling the growth of the global workout bag market. Various governments have invested in games and sports which is expected to increase in sports participation and eventually drive the market. Rise in demand for performance efficient sports products which are strong and lightweight is expected to boost the growth of the global workout bag market.
- Technological Advancement in Products
Introduction of technology in gym bags is expected to drive the market during the forecast period. Introduction of fingerprint technology in workout bags has made it more secure. Digital lock in gym bags is expected to enhance the demand for the product. Moreover, introduction of anti-theft bags has made it popular among the younger generation.
- Paradigm shift of manufacturing players in the emerging Asia Pacific region
Global manufacturers are setting up their manufacturing plants and increasing distribution partners in countries such as India and China. These countries have a large proportion of young population interested in athletics and sports. Growth in number of fitness centers, gyms, etc. is expected to boost the market during the forecast period
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