The global hydration backpack market size is expected to reach US$ 388 Million and is projected to grow at a CAGR of 12%. Due to increased participation in sports and recreation activities, the global market will reach a value of US$ 5735 Million by the year 2033.
Over the past five years, there has been a dramatic rise in the popularity of sports and military backpacks that contain hydration functions. Among the emerging trends that will influence the market over the next few years are the increasing use of hydration nozzles with pressurized water and removable bladders.
Several health concerns regarding plastic usage and bottled water have led to consumers switching to eco-friendly hydration backpacks, which will result in an increase in demand for hydration backpacks. Technology-advanced materials and the need to maintain the water’s temperature are expected to further boost the market growth in the near future. As a result, there will be a dramatic increase in the demand for hydration backpacks over the coming years.
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A recent report from the World Development Report Institute indicates that the rising interest in cycling, hiking, and running among consumers in Brazil, India, and China is expected to boost the market growth. Moreover, due to the wellness benefits offered by this product, this market is expected to grow in the near future due to the health benefits it offers.
Key Takeaways from the Market Study
According to the report, the hydration backpack market is expected to reach US$ 388 million by 2023.
The hydration backpack industry is expected to grow at a CAGR of 12% between 2023 and 2033.
Hydration backpacks are expected to reach a valuation of US$ 1205 million by 2033.
By distribution channel, the specialty stores segment dominates the market with a 47% share, which is expected to continue over the forecast period.
North American hydration backpack sales are expected to grow 41% by 2033.
“Growing consumer awareness about healthy lifestyles and outdoor activities including trekking, hiking, biking, and marathons are expected to lead to an increase in the market demand for hydration backpacks in the near future,” comments an analyst at FMI.
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Competitive Landscape
Vista Outdoor Inc. (CamelBak), Columbia Sportswear Company, Osprey Packs Inc., High Sierra, Gregory Mountain Products, Source Tactical Gear, Hydro Flask, Mazama Designs, LLC., USWE Sports AB, and TETON Sports.
To gain a competitive advantage and increase their market share, these firms are pursuing a number of strategies including the launch of new products, the expansion of their facilities, mergers, collaborations, partnerships, and acquisitions in an effort to improve their competitive situation. For instance,
In June 2022, GenZ Outdoor unveiled an exclusive backpack designed for the Electric Forest. As the founder and designer of GenZ, Ryan Lange ensured that the product would stand out from the crowd. As a nod to the return of one of the nation’s most renowned music events, GenZ Outdoor created a hydration pack dubbed the RaveRunner. GenZ x EF collabs provide Forest Dwellers with everything they need for weekend-long frolics, including two liters of water and warm clothing for the evening.
