According to the business intelligence report titled ‘Global School Bags Market Size study, by Fabric (Canvas, Polyesters, Nylon, Leather, Others), Distribution (Offline and Online) and Regional Forecasts 2020-2027’, available with Market Study Report, global school bags market was worth USD 17.74 billion in 2019 and is projected to exhibit a CAGR of 6% over 2020-2027, subsequently reaching a valuation of USD 28.27 billion by the end of the forecast period.
 

As per the findings of the report, escalating demand for bags with high weight carrying capacity, coupled with evolving product trends in terms of aesthetics and design are spurring global school bags market growth.
 

Favorable government initiatives aimed at encouraging education, and increasing number of school enrollments are adding substantial traction to the industry expansion. In fact, the Government of India allocated around INR 99,300 crore to the education sector for the fiscal budget 2020-21.
 

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Additionally, increasing smartphone penetration, along with rising adoption of tablets and other advanced devices in the education sector are impelling the demand for lightweight bags, which in turn is stimulating global school bags market outlook.
 

On the contrary, imposition of stringent government guidelines germane to animal hunting for procurement of leather will continue to barricade business development through 2027.
 

Based on fabric, worldwide school bags industry is bifurcated into leather, nylon, polyester, canvas, and others. With regards to distribution channel, the market is divided into online and offline.
 

Regionally speaking, the market is fragmented into Europe, North America, Asia-Pacific, Latin America, and rest of the world.
 

Among these, Asia-Pacific currently leads the global school bags market in terms of revenue share and is touted to experience considerable expansion during the analysis timeframe, owing to growing number of school-going children.
 

Meanwhile, Europe marketplace is predicted to grow tremendously over 2020-2027, on account of high student enrollment ratio, and rising disposable income.
 

With regards to competitive scenario, Puma SE, Samsonite International S.A., Nike Inc., Delsey S.A., VIP Industries Ltd., Targus Inc., Bell, Louis Vuitton, Herschel Supply Co., and VF Corp. are the leading organizations influencing global school bags market dynamics.