Hydration Backpack Market Dynamics 2033: Technology, Competitive Landscape, Strategies, Key Players, Analysis & Forecast
The global hydration backpack market, currently valued at US$ 388 Million, is expected to grow at a CAGR of 12%. Due to its key features such as hands-free operation and its functionality to deliver optimal hydration, the market continues to grow at a rapid rate and will continue to be driven by rising demand for the product. Hydration backpacks are projected to grow to US$ 5,735 Million by 2033, constituting approximately 6% of the global market share.
The growth of the hydration backpack market in the forecast period is expected to be driven by increased demand for military hydration backpacks, growing consumer awareness of the benefits of staying hydrated, and participation in adventurous outdoor activities. Additionally, the rise in the usage of removable bladders for easier reservoir maintenance and hydration nozzles designed for convenient water sipping is anticipated to further fuel demand for the product.
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Several health concerns regarding plastic usage and bottled water have led to consumers switching toeco-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.
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.
Key Players
Vista Outdoor Inc. (CamelBak)
Columbia Sportswear Company
Osprey Packs Inc.
High Sierra, Gregory Mountain Products
Source Tactical Gear
Hydro Flask
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