Fanny Packs Market Overview
The fanny packs market is witnessing maximum growth as fanny packs are increasingly becoming a fashion accessory with trendy color combinations, textures and ergonomic designs. In addition, design modifications and innovative material offerings have fuelled the growth of fanny packs market. The travel end-use segment is estimated to be the most lucrative due to increasing hiking and trekking activities in both developed and developing countries.
Due to the presence of a large number of fanny packs manufacturers, the global fanny pack market is highly competitive in nature. Major vendors in the fanny packs market are competing on the basis of durability, price, design innovations and the overall quality of raw materials used. In addition, vendors are concentrating on endorsing online retail as the majorly preferred distribution channel. The forward inclusion in the value chain, recycling of raw materials and development of new products have imposed positive impacts for the global fanny packs market.
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Fanny Packs Market Segmentation
The fanny packs market can be segmented on the basis of material, end use, consumer orientation and sales channel.
On the basis of material, the fanny packs market can be segmented as:
On the basis of end use, the fanny packs market can be segmented as:
On the basis of consumer orientation, the fanny packs market can be segmented as:
On the basis of sales channel, the fanny packs market can be segmented as:
- Hypermarkets / Supermarkets
- Specialty Stores
- Factory Outlets
- Company Website
- Third Party Online
Fanny Packs Market Key Players
The fanny packs market is characterized by the presence of a large number of regional companies offering a variety of products. These companies device various strategies, such as offering cheap and valuable wireless charging stands to suit every need.
Some of the key players in the fanny packs market are: Nike, Inc., Adidas AG, Herschel Supply Co, Action Bag & Cover, Inc., Aceco Industrial Packaging Co, Robinson Windword, Inc., Diversa Products Group, LLC, Sun Company, Inc., Guangzhou Aoking Bag Co Ltd, Skyine Bagworld Pvt Ltd, and K London Ltd.
Fanny Packs Market Regional Overview
In North America, the demand for fanny packs is growing in the U.S. with the growing demand for affordable luxury fanny packs with the presence of top brands in the country. The arrival of numerous fanny pack brands and their easy availability through offline and online retail stores have augmented the demand for fanny packs among consumers in the U.S. In developed economies, the purchase cycle of fanny packs is high compared to the developing countries which is driving growth in North America and Europe region. Availability of affordable and high quality fanny packs is supporting growth for the fanny packs market in the region.
Fanny Packs Market Dynamics
Requirements for fancy, trendy and comfortable fanny packs is chiefly increasing the demand and value for the global fanny packs market. In addition to this, fanny packs are easily available through online retailers and shopping websites, which can be accessible from any place.
Along with the availability and simplicity, the increasing trends of e-commerce, smartphones and mobile internet is boosting the growth of fanny packs as customers can now differentiate and purchase different types of door mats with just a touch of a button. Such factors are allowing the fanny packs market to grow during the forecast period of 2019 to 2029.
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