The Latin America, Middle East and Africa Gym Bag Market is expected to witness market growth of 13.8% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 4.42 million units, showcasing a growth of 15.6% (2024-2031).
Drawstring bags are versatile, lightweight, and popular for a range of uses, including gym, sports, casual outings, and travel. Their compact design and easy accessibility make them ideal for carrying essentials like clothes, shoes, or personal items. One major advantage is their simplicity; they are easy to open and close and offer ample storage while being space-efficient. Thus, the Brazil market is expected to utilize 980.55 Drawstring bags by 2031.
The Brazil market dominated the LAMEA Gym Bag Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $75.2 Million by 2031. The Argentina market is registering a CAGR of 14.7% during 2024-2031. Additionally, the UAE market is expected to showcase a CAGR of 13.4% during 2024-2031.
The popularity of health trends such as CrossFit, yoga, and group fitness classes has contributed to the adoption of gym bags. As more individuals participate in specialized fitness activities, the need for dedicated gear bags becomes increasingly apparent.
Moreover, the athleisure trend, where activewear is worn in everyday settings, has propelled the adoption of stylish gym bags that complement this lifestyle. Consumers seek functional gym bags that align with their fashion sensibilities, driving demand.
Nigeria's rising disposable income profoundly affects the gym bag market, signalling a broader shift in consumer behaviour and market dynamics. According to the National Bureau of Statistics, Nigeria’s National Disposable Income has exhibited growth since the fourth quarter of 2021. This momentum continued into 2022, with a notable annual growth rate of 2.45%. The third quarter of 2022 saw a 1.08% increase in disposable income, while the fourth quarter of 2022 saw a 4.98% increase compared to the same periods in 2021. This upward trend highlights the strengthening economic conditions and the increasing financial stability of Nigerian households.
Drawstring bags are versatile, lightweight, and popular for a range of uses, including gym, sports, casual outings, and travel. Their compact design and easy accessibility make them ideal for carrying essentials like clothes, shoes, or personal items. One major advantage is their simplicity; they are easy to open and close and offer ample storage while being space-efficient. Thus, the Brazil market is expected to utilize 980.55 Drawstring bags by 2031.
The Brazil market dominated the LAMEA Gym Bag Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $75.2 Million by 2031. The Argentina market is registering a CAGR of 14.7% during 2024-2031. Additionally, the UAE market is expected to showcase a CAGR of 13.4% during 2024-2031.
The popularity of health trends such as CrossFit, yoga, and group fitness classes has contributed to the adoption of gym bags. As more individuals participate in specialized fitness activities, the need for dedicated gear bags becomes increasingly apparent.
Moreover, the athleisure trend, where activewear is worn in everyday settings, has propelled the adoption of stylish gym bags that complement this lifestyle. Consumers seek functional gym bags that align with their fashion sensibilities, driving demand.
Nigeria's rising disposable income profoundly affects the gym bag market, signalling a broader shift in consumer behaviour and market dynamics. According to the National Bureau of Statistics, Nigeria’s National Disposable Income has exhibited growth since the fourth quarter of 2021. This momentum continued into 2022, with a notable annual growth rate of 2.45%. The third quarter of 2022 saw a 1.08% increase in disposable income, while the fourth quarter of 2022 saw a 4.98% increase compared to the same periods in 2021. This upward trend highlights the strengthening economic conditions and the increasing financial stability of Nigerian households.
List of Key Companies Profiled
- Herschel Supply Company (Herschel Capital Corp.)
- ToteBagFactory (Smart-K LLC)
- Everlast Worldwide Inc. (Frasers Group plc)
- Nike, Inc.
- Adidas AG
- Under Armour, Inc.
- Lululemon Athletica, Inc.
- PUMA SE (Groupe Artémis S.A.)
- Reebok International Ltd. (Authentic Brands Group LLC)
- The North Face (VF Outdoor LLC)
Market Report Segmentation
By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)- Offline
- Online
- Men
- Women
- Kids
- Duffle
- Drawstring
- Other Products
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. LAMEA Gym Bag Market by Distribution Channel
Chapter 5. LAMEA Gym Bag Market by Gender
Chapter 6. LAMEA Gym Bag Market by Product
Chapter 7. LAMEA Gym Bag Market by Country
Chapter 8. Company Profiles
Companies Mentioned
Some of the key companies profiled in this LAMEA Gym Bag Market include:- Herschel Supply Company (Herschel Capital Corp.)
- ToteBagFactory (Smart-K LLC)
- Everlast Worldwide Inc. (Frasers Group plc)
- Nike, Inc.
- Adidas AG
- Under Armour, Inc.
- Lululemon Athletica, Inc.
- PUMA SE (Groupe Artémis S.A.)
- Reebok International Ltd. (Authentic Brands Group LLC)
- The North Face (VF Outdoor LLC)
Methodology
LOADING...
