Bicycle Bags & Bag-packs Market to Witness Strong Growth, Cycle Carrier Bags to Offer Tailwinds

A substantial rise in bicycle long tours among the young population worldwide has been catalyzing the bicycle bags and bag-packs market growth. Increasing long tours and cycle tourism for a social drive are the key factors responsible for the increment in number of bicycle long tours. Several kinds of carrier bags are used for long tours to hold the necessary belongings for the journey. Cycle carrier bags are particularly designed to be put on top of the bicycle frame to ease the cyclists from containing a burden on his back.

A cycle carrier bag lowers the bicycle’s center of gravity that makes controlling the bicycle much simpler with compact transportation of the gear such as biking tools, clothing, and food. As cycle carrier bags continue to gain traction worldwide, the bicycle bags & bag-packs market is anticipated to record novel development prospects during the assessment period of 2019-2029. Future Market Insights expects the market to grow at a 5.6% CAGR through 2029.

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Key
Takeaways of Bicycle Bags & Bag-packs Market Study

  • APAC region is at the vanguard of
    global adoption of cycling culture.  The
    advantage of cycling to keep up a healthy lifestyle is the foremost aspect influencing
    its adoption among ever-increasing number of millennial in the region, which in
    turn pushes the market growth.
  •  As the government takes the first steps to
    promote cycling activities such as arranging cycling events, cycle sharing
    spots, and development of cycling tracks, the regional bicycle bags and
    bag-packs is expected to witness healthy growth.
  • As per Union Cycliste Internationale
    (UCI), the Asia’s market is mainly active in hosting most of the cycling
    events. Presently, there are 40 UCI Continental Teams recorded in Asia, which
    is over twice of 2009 having 17 teams.
  • APAC accounts for potential prospects
    for the bicycle bags & bag-packs market growth. Favorable government
    initiatives are projected to open a window of opportunities for market players.
  • e-Commerce is expected to remain a
    highly preferred sales channel and generate high market revenue over the
    forecast period, owing to increasing internet use among consumers.

“Manufacturers are developing bicycle bags and bag-packs targeting the expanding number of women cyclists such that the bags supply their basic purpose in a trendy way. The less awareness among customers in contrast to other personal care products is the foremost hurdle of the market development. Accordingly, efficient advertising is crucial for the quick market growth,” says an FMI analyst.

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Celebrity
Endorsement to Prompt Consumer’s Buying Behavior

A rising trend in the bicycle bags & bag-packs
market is the expanding number of key participants appointing several
celebrities from the films and sports field for the endorsement of their
products, with a purpose to influence customers to adopt the same. This remains
a key to gaining customers’ trust and drawing them to make use of these rather
conventional bags.

Various key market participants are employed in
partnership with different companies to boost their product offering all over
the world. Additionally, companies are absorbed in product innovation and
celebrity endorsement.

For example, the BLS Group has famous professional cyclists, Jolien D’hoore, Nate Koch, and Mariske Strauss, as brand ambassadors.

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