Apr 08, 2020 (The Expresswire) -- " School Bags Market " report provides an extensive analysis of the current and emerging market trends and dynamics in the global School Bags Market. The report provides single comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Middle East and Africa, and Latin America. Annual estimates and forecasts are provided for the period 2019 through 2023. Also, a five-year historic analysis is provided for these markets. Also, a comprehensive analysis of factors that drive and restrict the growth of the market is provided.
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About School Bags market
Adoption of new teaching methodologies and increasing focus on extracurricular activities by schools are necessitating the use of laptops and tablets among students. Having to carry such electronic gadgets is increasing the weight of school bags, which is increasing the demand for lightweight bags among parents and school administrations. To cater to this demand, vendors are using advanced technologies and raw materials to develop lightweight school bags. For instance, several vendors are offering water repellent lightweight bags made of polyurethane. The growing demand for lightweight school bags is expected to drive the growth of the global school bags market size at a CAGR of over 6% during 2019-2023.
School Bags Market Trend, Challengeand Driver: -
Increasing the global literacy rate
According to the World Bank Group, the global literacy rate among people within the age range of 15-24 years has increased by 6.89% during 1996-2016. Such growth in the literacy rate is indicative of the fact that the number of student enrolments in educational institutions will increase, which will a positive impact on the growth of the global school bags market size.
Presence of counterfeit products (Me-Too brand)
The growth of the e-commerce industry is easing the distribution of counterfeit products across various regions. Manufactured out of toxic and low-quality raw materials, counterfeit products imitate logo, and trademarks of genuine brands and are marketed at cheaper rates. While this is harming the reputation of vendors, it is also compelling them to reduce the market price of their products despite incurring a high production cost.
For the detailed list of factors that will drive and challenge the growth of the school bags market size during 2019-2023, view our report.
The market appears to be fragmented with many players occupying the market share. Companies such as DELSEY and LVMH Moët Hennessy - Louis Vuitton have intensified competition. Factors such as the high demand for lightweight school bags and increasing global literacy rate will provide significant growth opportunities for school bags manufacturers. DELSEY, LVMH Moët Hennessy - Louis Vuitton, Samsonite International SA, Targus Inc., and VF Corp. are some of the major companies covered in this report.
Porter’s five forces analysis included in the report educates the buyer on the current situations along with anticipated future School Bags market size.
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Key vendors operating in 2019 School Bags market space are-
DELSEY, LVMH Moët Hennessy - Louis Vuitton, Samsonite International SA, Targus Inc., VF Corp.
This market research study provides a detailed qualitative and quantitative analysis of the Global School Bags Market 2019-2023. It provides a comprehensive review of major drivers and restraints of the market. Major companies are profiled in this report. Various secondary sources, such as annual reports, industry journals, forums, blogs, paid and free databases to identify and collect information useful for this extensive commercial study of Global School Bags Market 2019-2023 have been used. The primary sources, experts from related industries and suppliers, have been interviewed to obtain and verify critical information as well as to assess the future prospects of Global School Bags Market 2019-2023.
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Following are the objectives of The 2019 School Bags Market Report:
Highlights key business priorities in order to assist companies to readjust their business strategies.
The key findings and recommendations highlight crucial progressive School Bags Market Trends Globally, thereby allowing players to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Examine in-depth global School Bags Market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that support commercial interest with respect to products, segmentation and industry verticals.
Table of Contents included in School Bags Market 2019 Report -
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
2.2 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
Market segmentation analysis
PART 04: PIPELINE ANALYSIS
PART 05: MARKET SIZING
Market sizing 2019
Market size and forecast 2019-2023
PART 06: FIVE FORCES ANALYSIS
Bargaining power of buyers