Preliminary research of Fairfield Market Research indicates a promising growth outlook for global sleeping bag market during the course of next few years.
Surge in Trekking, and Other Outdoor Activities Underpin Value Growth of Sleeping Bag Market
Outdoor recreation such as trekking and mountaineering has increased considerable on the global front. The outdoor industry has been driven largely due to high customer spending on respective gears that are required to carry out such activities. Factors such as stable economic growth, rising disposable income backed by stable increase in GDP per capita and low inflation rates are few of the macro economic factors driving the growth of the sleeping bag market. Moreover, customer awareness apropos to wellness, health and recreation has given an impetus to outdoor activities. Daily work stress and office load has pushed individuals to opt for physical activities including yoga, sports, and other adventurous activities such as trekking making them feel stress free thus giving mental stability. This has indirectly fuelled the use of modern gear with advanced features, thus complementing the sales of outdoor accessories and apparels. In this backdrop, a sleeping bag being a vital asset in outdoor recreation, the growth of the market is poised to gain significant momentum.
In addition, availability of sleeping bags on different distribution channels, especially online platforms have further influenced their sales. Customers can rely on online shopping platforms and can choose between different options with customer feedback and reviews, thus gaining a convenient shopping experience. Alongside sales channels, social media platforms are also prevailed as key influencers shaping customer preferences in various aspects circling consumer goods, wearables, accessories, and apparels. This, to a certain extent has boosted sales of outdoor accessories, consequently influencing the value growth of the sleeping bag market on the global front. In wake of this scenario, companies are leveraging the optimism and investing in developing new products. Their spending in research and development has led to development of novel sleeping bags that provide high comfort, have less weight owing to use of materials such as aerogel insulators, and provide high thermal insulation to the user.
Synthetic Material Poised to Witness a Demand Surge in Sleeping Bag Market
The use and demand for sleeping bags with synthetic material has been on an upswing as compared to down insulation. This is mainly owing to its functional benefits such as hypoallergenic and highly water resistant. It provides ample insulation even if it is in wet condition to the user maintaining the required warmth within. In addition, it is quick drying, highly durable and less expensive than the down insulated sleeping bag. Moreover, feel of this sleeping bag is softer and is highly flexible and reflects high compressibility. Furthermore, synthetic sleeping bags are light in weight and better designed and have high service life. That said, their adoption is expected to further increase in the coming years, in turn largely contributing towards the revenue growth of the sleeping bag market.
North America Projected to Cement Dominance in Sleeping Bag Market
The sleeping bag market in North America is likely to witness momentous growth owing to an increase in outdoor and leisure activities. Rising camping trips backed by attraction towards nature and adventurous activities has further propelled the growth of the sleeping bag market in the region. In addition, the growing usage of travelling products including sleeping bags on the back of rising inclination towards experiencing healthy and stress free time has further contributed towards growth of the market in the region. Furthermore, the growing e-commerce sector in the region has also influenced the sales of sleeping bags. This aspect coupled with growing GDP per capita and rising tourism sector continue to influence the growth of the market in North America. Manufacturers of sleeping bags can expect high momentum from the region in the forthcoming years.
Sleeping Bag Market: Competitive Landscape
Key players in sleeping bag market have been focusing on launching new features and expanding their current product portfolio to gain competitive advantage. For instance, in 2022, Bixbee, an accessory and a designer kids’ backpack brand announced new additions and new product category in its sleeping bag portfolio. It has introduced children’s inflatable, multifunctional mattress, and animal inspired sleeping bags. These products enhance the comfort quotient for kids during their nap time. Similarly, in June 2022, Zenbivy announced that is planning to partner with Indiegogo to commercialize and launch its new product – The Zenbivy Light Bed. This new Zenbivy Light Bed will be Launched on Indiegogo in September and would be available for purchase at discounted pricing till October end.
A few of the major players in sleeping bag market include AMG Group, Columbia Sportswear, The Coleman Company, NEMO Equipment Inc., Jarden Vaude, Big Agnes, MalloMe, Wildhorn, Snugpack, Exxel Outdoors, Alpkit, Sierra Designs, Blackpine Sports, Oase Outdoors, and Browning Camping.
Regional Classification of the Global Sleeping Bag Market is Described Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability
Key Elements Included In The Study: Global Sleeping Bag Market
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