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School Bags Market to Grow by USD 6.92 Billion from 2024-2028, Driven by Innovations in Materials and Design and AI-Powered Market Evolution – Technavio

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NEW YORK, Nov. 6, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global school bags market  size is estimated to grow by USD 6.92 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.8%  during the forecast period. Innovations in materials and designs of school bags is driving market growth, with a trend towards increased demand for school bags made of environmentally friendly materials. However, rising labor costs and fluctuating raw material prices for school bags poses a challenge.Key market players include ACCO Brands Corp., Bagmiller, Balaji Bag, Brainbees Solutions Pvt. Ltd., Decathlon SA, DELSEY, Dolce and Gabbana S.r.l., Fjallraven Retail USA LLC, Genie Bags India, Khadim India Ltd., Nike Inc., PUMA SE, Rothco, Samsonite International SA, Sanghavi Bag, Sreeleathers, Sumdex inc., VF Corp., VIP Industries Ltd., and Wildcraft India Pvt. Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Polyesters, Nylon, Canvas, Leather, and Others), Distribution Channel (Online and Offline), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

Region Covered

APAC, Europe, North America, South America, and Middle East and Africa

Key companies profiled

ACCO Brands Corp., Bagmiller, Balaji Bag, Brainbees Solutions Pvt. Ltd., Decathlon SA, DELSEY, Dolce and Gabbana S.r.l., Fjallraven Retail USA LLC, Genie Bags India, Khadim India Ltd., Nike Inc., PUMA SE, Rothco, Samsonite International SA, Sanghavi Bag, Sreeleathers, Sumdex inc., VF Corp., VIP Industries Ltd., and Wildcraft India Pvt. Ltd.

 

Key Market Trends Fueling Growth

The global school bags market is witnessing significant growth due to the increasing demand for eco-friendly and organic products. Traditional leather school bags have faced concerns regarding the use of tanning agents and the ecological imbalance caused by animal hunting. In response, there is a growing preference for organic leather products, certified by the USDA and the National Organic Program, which ensures ethical animal treatment and sustainable tanning processes. Kering and other manufacturers are adopting eco-friendly practices, such as using plant-based tanning agents and recycled materials. Targus, a key player, offers recycled polyethylene terephthalate (PET) polyester and PVC-free backpacks. These initiatives are expected to drive market growth during the forecast period. 

The School Bags Market is thriving with trends like 3D printing and ergonomic designs. Ergobag, Backpacks, Laptop Bags, Duffel Bags, Clutch Bags cater to Kids, Teenagers, and Adults. Canvas, Nylon, and Polyester are popular raw materials. Prices range from Low to Medium to High. Government efforts promote eco-friendly materials and manufacturing technologies. RFID protection, USB charging, and tablet pockets are must-haves. School supplies, E-commerce, and online retail stores dominate sales. Lightweight bags, adjustable straps, and pockets are essential features. Unbranded players compete with leather school bags. Consumer spending increases with digital learning tools. Social media influences buying decisions. Manufacturing technologies include animal-friendly alternatives. The School Bags Market is a dynamic and growing industry. 

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Market Challenges

Vendors, such as Dolce and Gabbana S.r.l., source production from factories in Asian countries like China, Indonesia, Bangladesh, and Vietnam due to historically lower labor costs. However, rising labor costs in these countries have increased production expenses, reducing vendors’ profit margins. Additionally, fluctuating raw material prices, particularly for leather, pose operational challenges. Leather’s high production cost results from its regulated manufacturing process. Transportation costs, including taxes, duties, and fuel prices, also impact profitability. Fuel price volatility, especially in OPEC member nations, further pressures vendors to keep end-product prices stable, limiting their ability to increase profits. These factors may hinder the growth of the school bags market during the forecast period.The School Bags Market faces several challenges in today’s business landscape. With the rise of 3D printing, Ergobag’s ergonomic designs, and various bag types like Backpacks, Laptop Bags, Duffel Bags, and Clutch Bags, catering to Kids, Teenagers, and Adults, material choices range from Canvas, Nylon, and Polyester. Pricing segments include Low, Medium, and High price ranges. Government efforts towards RFID protection and e-commerce growth impact the market. Lightweight bags, raw materials, and manufacturing technologies are key trends. USB charging, eco-friendly materials, tablet pockets, and leather school bags are popular features. Animal slaughtering for leather remains a concern. Consumer spending on school supplies is increasing, driven by digital learning tools and social media influence. Adjustable straps, pockets, and unbranded players are other market factors. Online retail stores and offline sales channels coexist.

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Segment Overview 

This school bags market report extensively covers market segmentation by

Product 1.1 Polyesters1.2 Nylon1.3 Canvas1.4 Leather1.5 OthersDistribution Channel2.1 Online2.2 OfflineGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Polyesters –  The school bag market is a significant sector with consistent demand. Parents and students prioritize functional and durable bags for daily use. Brands focus on offering diverse designs, sizes, and materials to cater to various needs. Competition is fierce, with several established players and new entrants. Market trends include eco-friendly bags and those with built-in compartments for laptops and water bottles. Sales remain stable due to the annual back-to-school season and continuous student enrollment.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The School Bags Market is witnessing significant growth due to the increasing student enrollment ratio and the shift towards e-learning. Manufacturing technologies are evolving to incorporate features such as USB charging ports, making school bags more functional. Eco-friendly materials like recycled polyesters are gaining popularity to reduce the environmental impact. Tablet pockets and messenger bags are in demand for students carrying digital devices. Leather school bags continue to be preferred for their durability and style. Online retail stores dominate the sales channel, offering convenience and a wide range of options. Government efforts to promote education and e-commerce platforms have further fueled market growth. Lightweight bags with RFID protection are also gaining traction to ensure the safety of students’ belongings. School supplies like pencils, notebooks, and erasers are still essential, but the focus is shifting towards high-tech school bags that cater to the modern student’s needs.

Market Research Overview

The School Bags Market is witnessing significant growth due to the increasing demand for functional and stylish bags among kids, teenagers, and adults. Manufacturing technologies such as 3D printing are being adopted to produce customized and lightweight bags. Eco-friendly materials like canvas, Nylon, and Polyester are gaining popularity as consumers are becoming more conscious of their environmental impact. USB charging ports and pockets for tablets are becoming essential features in modern school bags, catering to the needs of digital learners. Adjustable straps and ergonomic designs ensure comfort for long hours of use. Social media and online retail stores are driving sales, with unbranded players offering low-price options. Government efforts towards promoting education and e-commerce platforms are also contributing to the market’s growth. Backpacks, laptop bags, duffel bags, and clutch bags are popular choices for students, while leather bags continue to be a preferred option for adults. Consumer spending on school supplies remains strong, with pockets, raw materials, and RFID protection being key considerations.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductPolyestersNylonCanvasLeatherOthersDistribution ChannelOnlineOfflineGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Nikon Z50 II Mirrorless Camera Delivers Powerful Tools for Content Creators; YouTube Video First Look Z50 II Camera and Preorder Info at B&H

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The new Nikon Z50 II camera arrives as a powerful asset for content creators and action photographers on the go.

NEW YORK, Nov. 6, 2024 /PRNewswire/ — B&H is pleased to introduce the Nikon Z50 II camera designed for professional content creators. This powerful and compact system utilizes a high-performance 20.9MP DX CMOS sensor.

 

The new Nikon Z50 II mirrorless camera is the perfect tool for aspiring and professional content creators. This powerful and compact system utilizes a high-performance 20.9MP DX CMOS sensor and is compatible with the expanded catalogue of NIKKOR lenses, which include the popular Z DX 16-50mm f/3.5-6.3 VR and Z DX 50-250mm f/4.5-6.3 VR. On top of that, Nikon’s newest shooter also features several significant updates over its predecessor, including the latest generation Nikon Expeed 7 processor and an upgraded auto-focus system with flagship-model modes and capabilities.

Nikon Z50 II Mirrorless Camera
https://www.bhphotovideo.com/c/product/1860621-REG/nikon_1784_z50_ii_mirrorless_camera.html 

Key Features

20.9MP DX-Format CMOS SensorEXPEED 7 Image ProcessorUHD 4K60p/Full HD 120fps Video RecordingImproved Autofocus, 9 Subject DetectionDedicated Picture Control ButtonPre-Release Capture, 30 fps ShootingBright OLED Electronic Viewfinder3.2″ 180° Tilting TouchscreenSD Memory Card SlotBuilt-In Wi-Fi and Bluetooth

Additionally, for those chasing action shots or in a quick-pace environment, the dedicated high-speed capture options allow for 15 to 30 fps bursts and the pre-release capture function anticipates shots one second before fully pressing the shutter. 

The functionality of the screen has also received proper care. The users are now able to take advantage of the popular Touch FN option, which enables them to drag their finger on the screen for precise control over the focus point. As for the EVF, Nikon gave it a more streamlined design for comfortability and made it twice as bright for total control in any lighting situation.

After all the mentioned improvements, what makes this camera a great fit for content creators? Additionally, from the 31 built-in color presets, the Nikon Z50 ii is compatible with the Nikon Imaging Cloud, which welcomes a bunch of new possibilities for its users. Not only can you upload to your cloud space directly from the camera, but you receive access to an exclusive website of curated color picture controls (recipes) from selected contributors, allowing you to download their color presets. Additionally, with the purchase of the system, Nikon provides a one-year software that encourages you to create your own presets utilizing professional editing tools.

For videographers, the battery life and frame rates have been significantly boosted providing extended two-hour recordings and up to 60 fps and the upgraded internal 10-bit N‐Log capability preserves details in highlights and shadows and expands the range of effects available through color grading. The Nikon Z50 ii is the first Nikon camera to be UVC and UAC compliant collaborating with your webcam for streaming.

For more information about the new Z50 II camera, including additional features, specs, and highlights, be sure to check out the detailed product page. Or drop us a line below, and we’ll do our best to answer all your comments and questions.

YouTube Video First Look on Nikon Z50 II Mirrorless Camera
https://youtu.be/YH93my8qgGQ 

Learn More with B&H Explora on Nikon Z50II New Camera
https://www.bhphotovideo.com/explora/videos/photography/nikon-announces-z50-ii-mirrorless-camera 

About B&H Photo Video

As the world’s largest source of photography, video, and audio equipment, as well as computers, drones, and home and portable entertainment, B&H is known worldwide for its attentive, knowledgeable product experts and excellent customer service, including fast, reliable shipping. B&H has been satisfying customers worldwide for over 50 years. 

Visitors to the website can access a variety of educational videos and enlightening articles. The B&H YouTube Channel has an unmatched wealth of educational content. Our entertaining and informative videos feature product overviews from our in-house specialists. You can view the B&H Event Space presentations from many of the world’s foremost experts and interviews with some of technology’s most dynamic personalities. Tap into this exciting resource by subscribing to the B&H YouTube Channel here. In addition to videos, the B&H Explora blog presents new product announcements, gear reviews, helpful guides, and tech news written by product experts and industry professionals, as well as our award-winning podcasts.

When you’re in Manhattan, take a tour of the B&H Photo Electronics and camera store, located at 420 Ninth Avenue. The techno-carousel spins all year round at the counters and kiosks at B&H. With thousands of products on display, the B&H Photo SuperStore is the place to test-drive and compare all the latest gear.

The B&H Payboo Credit Card (issued by Comenity Capital Bank) offers the industry’s best instant savings or special financing. Credit card offers are subject to credit approval. Visit B&H’s Payboo Page to learn more or apply.

Contact Information
Geoffrey Ngai

B&H Photo Video
212-615-8820
https://www.bhphotovideo.com/ 

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SOURCE B&H Photo

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‘Global Top-tier’ KT&G Expands Into Europe full-scale, Starting with Romania

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SEOUL, South Korea, Nov. 7, 2024 /PRNewswire/ — KT&G (KRX:033780), a global ‘top-tier’ cigarette manufacturer, has begun its expansion into Europe, starting with Romania in April, followed by Portugal, Andorra, and Spain with its representative superslim brand ESSE.

KT&G is South Korea’s leading company holding the No. 1 position in each of its Next Generation Products (NGP), Health Functional Foods, and Combustible Cigarettes (CC) businesses. To further consolidate its position as a global top-tier player, KT&G is accelerating overseas growth in its three core growth business areas, NGP, Health Functional Food, and Global CC.

To this end, KT&G is currently focusing on expanding its global business with subsidiaries or offices in 10 countries around the world, including Europe, Indonesia, Taiwan and Kazakhstan. Last year, the company introduced a company-in-company (CIC) system for each region with the aim of expanding overseas markets more aggressively and expanding local distribution coverage, and is accelerating growth in Eurasia and Asia-Pacific. As of the end of ’23, KT&G sold about 717 brands with 5,184 employees in 143 countries around the world, strengthening its position as a global top-tier company.

In particular, KT&G is expanding direct management from production to marketing and sales by building a localized value chain centered on CICs in each overseas region. To this end, KT&G began construction of a new factory in Almaty, Kazakhstan, last year and has begun construction of the second and third factories in Indonesia, in addition to its existing factories there, speeding up its efforts to secure a global production base. In particular, once the construction of the second and third factories in Indonesia is completed, Indonesia will become the largest overseas production base for KT&G’s business and a key growth engine for achieving its mid- to long-term vision.

The fruits of growth investments for global business expansion efforts are already being realized. Last year, KT&G’s overseas sales of cigarettes reached 53.2 billion pieces, a new record for the company. This year’s second quarter was also the largest quarterly sales quarter, and according to analysts’ forecasts, overseas cigarettes are expected to break the record again in the third quarter.

KT&G is not resting on its laurels, and is preparing for new growth by establishing its status as a “Global Top-tier” company in accordance with the “2027 KT&G Vision,” which was newly established in 2023. KT&G is strengthening its intrinsic competitiveness and structural innovation centered on its three core businesses, and has set ‘50% of sales from overseas business’ and ‘60% of sales from non-tobacco business’ as its main business KPIs for 2027, and is focusing its company-wide capabilities to achieve them. Through this, KT&G plans to surpass the No. 1 ranking in Korea and achieve the Global Top 4.

Logo – https://mma.prnewswire.com/media/2316472/KT_G_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/global-top-tier-ktg-expands-into-europe-full-scale-starting-with-romania-302298230.html

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Big C Teams Up with Vpon to Elevate Tourist Shopping Experience

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BANGKOK, Nov. 7, 2024 /PRNewswire/ — Big C Supercenter is taking major strides to become the leading destination for tourists seeking Thai souvenirs. Partnering with Vpon AI Big Data Group, a specialist in online-to-offline (O2O) solutions, Big C aims to enhance its reach, particularly in the Chinese market, and solidify its global presence.

Big C’s Strategic Vision:

 

Leader in Thai Souvenirs: Big C welcomes millions of travellers annually, achieving impressive sales across 5 flagship branches in major cities and 45 convenient locations in secondary destinations. As the top choice for authentic Thai shopping, Big C is committed to delivering a world-class experience for every traveller’s journey.O2O Marketing Focus: With Vpon’s expertise, Big C is building a strong online community in China, driving offline engagement and expanding to other tourist segments next year.WeChat Mini Program: To cater to mainland Chinese customers, Big C has launched a WeChat Mini Program, allowing customers to place orders directly from home in China. Whether they choose doorstep delivery, pick-up at a Big C store, or hotel delivery, this service provides unparalleled convenience, especially for those with limited time.Tailored Offerings: Big C is enhancing its branches with faith-based attractions like the Siva God shrine at Rajdamri, customised product ranges, and multilingual support for a seamless tourist experience.

 

 

Promotions and Pricing: Iconic shopping bags and targeted promotions during peak seasons like Chinese New Year and Golden Week will attract and engage tourists.Next Step: Expanding Thai products through platforms like WeChat mini program and promoting Thai culture, attractions, and cuisine via video content in China.

https://youtu.be/6oIMnep8uKs
https://youtu.be/jY41ks1bbgc

Big C kick-started their global digital transformation journey strongly by choosing China as the first destination, and appointed Vpon as the global tourist activation consultant.

Travel Data Tech in Retail: To precisely target Chinese and international tourists, Vpon developed a travel data dashboard uniquely for Big C. Supported by the accumulation of massive data from 900 million mobile devices, the dashboard visualises real-time insights tailored to their business needs. These valuable insights empower Big C to plan data-driven strategies for tourist activation, identifying highly potential customers through a deep understanding of traveller behaviour, preferences, travel trend and pattern.Localised social strategies: To achieve a successful China market entry, Vpon built a localised social image for Big C on mainstream Chinese social channels including Xiaohungshu, Douyin and WeChat, and achieved a viral success of 24 million total impression in just one week for Big C’s golden week promotion, showcasing a successful cultural blend in and community building.O2O strategies: To drive users from online to physical stores, and from stores to online channels, Vpon and Big C developed seasonal campaigns, personalised ad targeting and community engagement by integrating multi-dimensional data, including Big C’s own mobile and e-commerce data, in-store analysis, customer profile, and traveller insight. The actionable items are further tailored to reach individual audiences’ pre-trip, during-trip and after-trip, ensuring a rich brand presence throughout the whole journey.Influencers engagement: With the support of an extensive influencers data dashboard, Big C can analyse and select high-quality influencers around the world in one-click. Vpon has connected Big C with top-tier Xiaohongshu influencers with over 1 million followers, boosting the key words “Big C” and “travelling to Thailand” to the Viral Hot Topic. The strategic influencer marketing strategy successfully imprints Big C as one of the top-of-mind Thailand brands among international tourists.

Vpon AI Big Data Group is a leading big data company providing mobile data solutions with AI-powered technologies. Supported by the accumulation of massive data from 900 million mobile devices and a daily processing rate of 21 billion transborder data, Vpon integrates premium media resources across APAC, providing clients with all-rounded data and AI solutions, including data analytics services, AI-enhanced results, corporate digitalization, brand awareness and cross border marketing solutions etc., providing strong tools to aid clients in raising brand awareness and generate leads through data.

Vpon has obtained ISO 27001 (Information Security Management) and ISO 27701 (Privacy Information Management) Certification, by the British Standard Institution (BSI).

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SOURCE Vpon Big Data Group

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