Canvas Bags Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 15, 2024 /EINPresswire.com/ -- The canvas bags market has demonstrated robust growth, expanding from $0.99 billion in 2023 to $1.05 billion in 2024, at a compound annual growth rate (CAGR) of 6%. This growth is driven by legislative actions and bans on plastics, economic factors, a shift towards minimalism, educational programs promoting sustainability, and the rise of the zero-waste movement. The market is expected to continue its strong upward trajectory, reaching $1.33 billion by 2028, with a CAGR of 6.1%. The forecasted growth is supported by increasing demand for backpacks, government initiatives promoting eco-friendly bags, the cost-effectiveness of canvas bags, a cultural shift towards sustainable living, and municipal bans on plastic bags.
Expansion of Textile Industry Boosts Market Growth The expansion of the textile industry is anticipated to further propel the canvas bags market. This industry, encompassing the production and processing of fibers, yarns, fabrics, and finished products, is experiencing growth due to population increases, urbanization, economic development, and evolving fashion trends. Canvas bags play a vital role in the textile industry for packaging, promotion, storage, and transportation, while showcasing sustainability . For instance, the Textile Machinery Manufacturers Association reported that India's textile and apparel exports reached $44.4 billion in 2022, marking a 41% year-over-year increase. This growth in the textile industry is expected to drive the demand for canvas bags.
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Key Players and Product InnovationsMajor companies in the canvas bags market include 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, and United By Blue. These companies are focusing on developing innovative tote bags to meet the growing demand for eco-friendly and versatile options . For example, in October 2023, SANVT, a Germany-based fashion company, launched SANVT canvas tote bags made from 100% certified organic cotton. The bag features a robust 310 GSM panama weave, a laptop pocket, a clip-on pocket for coins and keys, and an outside bottle carrier, designed for durability and versatility.
Trends Shaping the MarketKey trends expected to influence the canvas bags market in the forecast period include health-conscious features, integration of technology into canvas bags, advances in fabric treatments, innovations in reusable bag technologies, and the adoption of eco-friendly manufacturing processes. These trends are enhancing the functionality and appeal of canvas bags, contributing to their growing popularity.
Segments:• By Type: Backpack, Canvas Sling Bag, Canvas Tote Bag, Grocery Bag, Gift Bag, Beach Bag, Other Types• 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)• By End-User: Shopping, Travelling, Office, Schools Or Colleges, Other End-Users
Geographical Insights: North America Leading the MarketNorth America was the largest region in the canvas bags market in 2023. The market is expected to see continued growth in this region, driven by high consumer demand and strong market presence.
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Canvas Bags Global Market Report 2024 from TBRC covers the following information:• Market size data for the forecast period: Historical and Future• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Canvas Bags Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on canvas bags market size, canvas bags market drivers and trends, canvas bags market major players, competitors' revenues, market positioning, and market growth across geographies. The canvas bags market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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August 15, 2024, 15:00 GMT
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Originally published at https://www.einpresswire.com/article/735385374/canvas-bags-market-report-2024-market-insights-and-future-outlook
