Latin America Active Backpack Market Size & Outlook
Latin America active backpack market, 2017-2030 (US$M)
Related Markets
Latin America active backpack market highlights
- The Latin America active backpack market generated a revenue of USD 383.8 million in 2022.
- The market is expected to grow at a CAGR of 6.4% from 2023 to 2030.
- In terms of segment, sports was the largest revenue generating type in 2022.
- Hiking/Trekking is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 383.8 million |
| Market revenue in 2030 | USD 632.0 million |
| Growth rate | 6.4% (CAGR from 2022 to 2030) |
| Largest segment | Sports |
| Fastest growing segment | Hiking/Trekking |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hiking/Trekking, Camping and Travelling, Sports |
| Key market players worldwide | Amer Sports Inc, Samsonite International SA, Patagonia Gold Corp Ordinary Shares, Columbia Sportswear Co, JanSport, VF Corp, The North Face, CamelBak Products LLC, Deuter Sport, Kelty, Osprey Packs |
Other key industry trends
- In terms of revenue, Latin America region accounted for 7.1% of the global active backpack market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,385.0 million by 2030.
Sports was the largest segment with a revenue share of 46.17% in 2022. Horizon Databook has segmented the Latin America active backpack market based on hiking/trekking, camping and travelling, sports covering the revenue growth of each sub-segment from 2017 to 2030.
Consumers in this region are becoming increasingly aware of the benefits of using active backpacks while performing activities like cycling and trekking. The world's most incredible hikes and camping sites may be found in South America. This encourages consumers to opt for such activities, likely increasing the demand for associated accessories such as active backpacks in the coming years.
Specialty stores held a significant market share in 2022. Offline retailers of active backpacks are expanding their distribution networks and logistics footprint with new regional warehouse facilities. For instance, in March 2020, Decathlon, a prominent sporting goods retailer, is bolstering its logistics capabilities in Colombia by establishing a new warehouse.
This strategic move is anticipated to drive market expansion and accelerate growth throughout the projected period. Over the years, the number of campers and hikers has increased dramatically across the Central and South America. Moreover, with a length of almost 7,000 km (4,300 miles), the Andes is the world's largest continental mountain range.
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Active Backpack Market Scope
Active Backpack Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America active backpack market size, by country, 2017-2030 (US$M)
Latin America Active Backpack Market Outlook Share, 2022 & 2030 (US$M)
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