Bike Bags Market Size, Share, Growth, and Industry Analysis by Type (Bike Panniers, Bike Handlebar Bags, Bike Saddle Bags, Bike Trunk Bags, and Bike Frame Bags), By Application (Online Sales and Offline Sales), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2022 To 2030

Updated On: 04 September 2023

Bike Bags Market Report Overview

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The global bike bags market size was USD 143.3 million in 2021 and is projected to touch USD 218.7 million by 2028, exhibiting a CAGR of 6.2% during the forecast period.

Bike bags commonly known as a pannier. It is a large bag or basket usually used for carrying loads. They are available in various forms of frames. The bags can be fixed on each side of the back wheel of a bicycle or motorbike.

Increasing demand for long bicycle tours among youth globally is expected to surge market growth. Rising awareness about fitness and outdoor cycling is predicted to accelerate market growth. Growing tourism and tour for a social purpose is predicted to accelerate market growth. Long travels and tours demand for a travel bag for storing essential belongings, which is predicted to propel market growth during the forecast period. A product with a different design to attract customers is anticipated to accelerate market growth. Rising number of female cyclists or riders is estimated to propel market growth. Growing popularity of mountain bicycling as an adventure sport and leisure is projected to drive bike bags market growth.

COVID-19 Impact: Lockdown Restrictions During Pandemic to Reduce Market Growth.

The global COVID-19 pandemic has been unprecedented and staggering, with bike bags experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Lockdown restrictions and social distance protocols reduced product demand. Ban on transportation impacted market growth. Lower demand for bikes and cycles during the pandemic reduced product adoption. Decreasing demand for an outdoor activity to control spreading of disease hampered market growth. Shutdown of businesses and industries decline in production activities. Lack of labor or employee reduced product sales. The market witnessed supply and chain disruption. Work from home culture declined work riders which reduced product adoption.

On the contrary, relaxation of lockdown restrictions is expected to encourage product adoption. Increasing number of cyclists and riders globally is predicted to surge market growth.

LATEST TRENDS

"Growing Trend of Cycling Tour to Foster Market Growth "

Increasing demand for long cycling tours among cyclists is predicted to accelerate market growth. Growing consumer awareness about the benefits of bike bags is predicted to accelerate market growth. Rising bag pack trend and growing demand to store essential products while traveling is anticipated to accelerate market growth. Rising number of cycling apps and working riders is estimated to propel product demand. Increasing local races and tournaments are predicted to surge market growth during the forecast period. Growing sales of bicycles globally are anticipated to fuel product adoption. Increasing tours and adventure rides to promote social awareness is projected to drive bike bags market growth.

Bike Bags Market Segmentation

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• By Type

Based on type, the market is divided into bike panniers, bike handlebar bags, bike saddle bags, bike trunk bags, and bike frame bags.

Bike handlebar bags are expected to be the leading part of the type segment.

• By Application

On the basis of application, the market is classified into online sales and offline sales.

Online sales are expected to be the leading part of the market application.

DRIVING FACTORS

"Promotion by Influencers for Product Design to Fuel Market Growth "

Growing brand awareness on social media is estimated to fuel market growth. The product has multiple designs and colors predicted to fuel market growth. Celebrity brand ambassadors are anticipated to uplift the adoption of bike bags. The product is easy to use and fashion trending. Such advantages are estimated to fuel market growth during the forecast period. They are available in online and offline stores. Such easy access to purchasing is projected to drive bike bags market growth.

"Increasing Cyclists and Riders to Boost Product Adoption "

Increasing number of cyclists globally is estimated to surge market growth. Rising demand to store essential belonging safely is projected to drive market growth. Growing government initiatives to reduce carbon emission is predicted to accelerate market growth. Increasing sales of cycle globally are predicted to accelerate market growth. Rising female cyclist is anticipated to boost market expansion. Increasing awareness about the benefits of cycling is predicted to accelerate bike bags market growth. Growing demand to reduce traffic is projected to boost two-wheeler adoption. Growing demand for bikes for their ease of driving is anticipated to fuel product demand. Some of the two-wheelers allow licenses free which is predicted to boost product adoption during the forecast period.

RESTRAINING FACTORS

"High Cost of Product to Hamper Market Growth"

High cost associated with the product is expected to restrict market growth. Fluctuation of raw materials price is anticipated to reduce product demand during the forecast period.

Bike Bags Market Regional Insights

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"Increasing Adoption of Cycles and Bikes to Drive Market Share "

Europe is estimated to dominate bike bags market share due to increasing adoption of bikes and cycles. Growing demand among population about long bike tours or cycle adventures is estimated to surge market growth. Rising awareness about benefits of cycling is projected to drive market growth. Increasing demand among riders to store belonging for long drives is estimated to accelerate market growth. Growing need for eco-friendly bikes in the region is estimated to stimulate product demand. Increasing number of workers who prefer cycles or bikes is predicted to augment market growth during the forecast period. Increasing number of female cyclists is expected to accelerate market growth. 

Asia Pacific is expected to show considerable market growth due to increasing popularity of cycle tours. Increasing number of bike riders in the region to avoid traffic is projected to drive market growth. Growing sales of bicycle and bikes are predicted to fuel market growth. Growing influencers and marketing strategies promoting product adoption. Increasing popularity of the product's benefits is estimated to boost market growth during the forecast period.   

KEY INDUSTRY PLAYERS

"Leading Players Adopt Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

·         ORTLIEB (Germany)

·         Blackburn (U.S.)

·         Trek Bicycle Corporation (U.S.)

·         Timbuk2 (U.S.)

·         Scicon (Italy)

·         Thule Group (Sweden)

·         VAUDE (Switzerland)

·         Vincita (U.K.)

·         Arkel (Canada)

·         Axiom (India)

·         Lone Peak (U.S.)

·         RockBros (China)

·         IBERA(Massload) (Netherlands)

·         Topeak (U.S.)

·         Roswheel (China)

·         RHINOWALK (U.S.)

·         Basil

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.