Canvas Bags Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The canvas bags market size has grown strongly in recent years. It will grow from $0.99 billion in 2023 to $1.05 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to legislation and bans on plastics, economic factors, shift towards minimalism, schools and educational programs promoting sustainability have encouraged the younger generation to adopt reusable bags, and rise of zero-waste movement.
The canvas bags market size is expected to see strong growth in the next few years. It will grow to $1.33 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to growing demand for backpacks, government initiatives to spread awareness regarding eco-friendly bags, cost-effectiveness of canvas bags, cultural shift towards more sustainable living, and municipal bans on plastic bags encouraging canvas bag use. Major trends in the forecast period include health-conscious features, integration of technology into canvas bags, advances in fabric treatments, innovations in reusable bag technologies, and adoption of eco-friendly manufacturing technologies.
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Scope Of Canvas Bags Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Canvas Bags Market Overview
Market Drivers –
The expansion of the e-commerce industry is expected to propel the growth of the canvas bags market going forward. The e-commerce industry encompasses the buying and selling of goods and services over the internet. The expansion of the e-commerce industry is due to convenience, vast product selection, competitive pricing, ease of comparison, and personalized shopping experiences. Canvas bags are valuable assets for e-commerce companies, providing practical benefits in packaging, promotion, customer engagement, and sustainability while contributing to a positive brand image. For instance, according to the United States Census Bureau, a US-based government agency, U.S. retail e-commerce sales for the first quarter of 2024 was $289.2 billion, an increase of 2.1 percent (±0.7%) from the fourth quarter of 2023. Therefore, the expansion of the e-commerce industry is driving the growth of the canvas bags market.
<h4 class=reporthtag>Interconnection Between Textile Industry Growth and Canvas Bags Market Expansion</h4>
The expansion of textile industry is expected to propel the growth of the canvas bags market going forward. The textile industry encompasses all aspects of producing and processing fibers, yarns, fabrics, and finished textile products. The textile industry is growing with population and urbanization, economic development, and fashion trends. Canvas bags are helpful in the textile industry for packaging, promotion, storage, transport, and for showcasing sustainability. For instance, according to the Textile Machinery Manufacturers Association, an India-based association of textile manufacturers, exports of textiles and apparel from India reached US$ 44.4 billion in 2022, marking a 41% year-over-year (YoY) increase. Therefore, the textile industry’s expansion is driving the canvas bag market’s growth.
Market Trends –
Major companies operating in the canvas bags market are developing tote bags to cater to the increasing demand for eco-friendly and versatile bags. Tote bags refer to large, versatile bags with parallel handles that are used for shopping, carrying everyday items, or as fashion accessories. For instance, in October 2023, SANVT, a Germany-based fashion company, launched SANVT canvas tote bags. It is made from 100% certified organic cotton and features a robust 310 GSM panama weave. The bag is designed to be long-lasting and versatile, with a laptop pocket, a clip-on pocket for coins and keys, and an outside bottle carrier. The canvas tote bag is available in a navy color and measures 45 x 35 x 12cm. It is made in Poland and pre-washed to ensure durability.
The canvas bags market covered in this report is segmented –
1) By Type: Backpack, Canvas Sling Bag, Canvas Tote Bag, Grocery Bag, Gift Bag, Beach Bag, Other Types
2) By Weight: Less Than 5 Ounce (oz), 6 To 10 Ounce (oz), 11 To 15 Ounce (oz), 16 To 20 Ounce (oz), More Than 20 Ounce (oz)
3) By End-User: Shopping, Travelling, Office, Schools Or Colleges, Other End-Users
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Regional Insights –
North America was the largest region in the canvas bags market in 2023. The regions covered in the canvas bags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the canvas bags market are Titan Company Limited, Patagonia Inc., Herschel Supply Company, C.C. Filson Co., Timbuk2, Qwstion, Union Wear, LBU Inc., Topo Designs, Duluth Pack, Cross Canvas Company, Landes, Baggu, A. Smith & Son Inc., Earthyy Bags, Blivus Bags Private Limited, Tarps Now, Trakke, Mismo Copenhagen, Korchmar, United By Blue
Table of Contents
1. Executive Summary
2. Canvas Bags Market Characteristics
3. Canvas Bags Market Trends And Strategies
4. Canvas Bags Market – Macro Economic Scenario
5. Global Canvas Bags Market Size and Growth
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32. Global Canvas Bags Market Competitive Benchmarking
33. Global Canvas Bags Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Canvas Bags Market
35. Canvas Bags Market Future Outlook and Potential Analysis
36. Appendix
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