Sleeping Bag Market

The global sleeping bag market is expected to see growth in both volume and value over the upcoming years, with rising demand influencing consumption trends. The market is projected to reach 97M units and $2.1B by 2030, with a forecasted CAGR of +0.5% and +2.6% respectively. Consumption patterns, production volumes, and import/export figures are also analyzed, with insights into key countries and their market shares.

Market Forecast

Driven by rising demand for sleeping bag worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.5% for the period from 2022 to 2030, which is projected to bring the market volume to 97M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market value to $2.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Sleeping Bags

In 2022, consumption of sleeping bags increased by 0.5% to 93M units for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, global consumption hit record highs at 101M units in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

The global sleeping bag market revenue rose modestly to $1.7B in 2022, with an increase of 3.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 8.9% against the previous year. Over the period under review, the global market reached the maximum level in 2022 and is likely to continue growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Russia (10M units), the United States (9.5M units) and China (6.7M units), with a combined 28% share of global consumption. India, Japan, Nigeria, the UK, Indonesia, Pakistan, Ukraine, Brazil, Mexico and Germany lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +33.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest sleeping bag markets worldwide were the United States ($182M), Russia ($173M) and Japan ($80M), together accounting for 25% of the global market. China, Indonesia, Nigeria, Germany, the UK, India, Mexico, Brazil, Pakistan and Ukraine lagged somewhat behind, together accounting for a further 23%.

In terms of the main consuming countries, Ukraine, with a CAGR of +31.2%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of sleeping bag per capita consumption in 2022 were Russia (71 units per 1000 persons), Ukraine (46 units per 1000 persons) and the UK (38 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +34.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Sleeping Bags

In 2022, global production of sleeping bags amounted to 113M units, approximately equating 2021 figures. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 25% against the previous year. Over the period under review, global production hit record highs at 114M units in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, sleeping bag production shrank to $1.7B in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 8.1% against the previous year. Global production peaked at $1.8B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (47M units) constituted the country with the largest volume of sleeping bag production, accounting for 41% of total volume. Moreover, sleeping bag production in China exceeded the figures recorded by the second-largest producer, Russia (9.3M units), fivefold. India (6.1M units) ranked third in terms of total production with a 5.4% share.

In China, sleeping bag production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Russia (+14.4% per year) and India (-0.8% per year).

Imports

World Imports of Sleeping Bags

In 2022, overseas purchases of sleeping bags increased by 18% to 41M units, rising for the second consecutive year after four years of decline. The total import volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 22% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, sleeping bag imports skyrocketed to $794M in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.1% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 30% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports By Country

The United States represented the major importer of sleeping bags in the world, with the volume of imports amounting to 8.9M units, which was near 22% of total imports in 2022. The UK (2.7M units) held the second position in the ranking, followed by the Netherlands (2.3M units), France (2.2M units), Ukraine (2M units) and India (1.9M units). All these countries together took approx. 27% share of total imports. Japan (1.8M units), Germany (1.7M units), Belgium (1.7M units), Australia (1.5M units), Canada (1.3M units), Greece (1.3M units) and Russia (0.9M units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sleeping bag imports into the United States stood at +5.0%. At the same time, Ukraine (+37.6%), India (+23.4%), Greece (+22.0%), the Netherlands (+10.1%), Russia (+5.6%), Canada (+2.1%), Australia (+1.9%) and Japan (+1.2%) displayed positive paces of growth. Moreover, Ukraine emerged as the fastest-growing importer imported in the world, with a CAGR of +37.6% from 2012-2022. Belgium, Germany and the UK experienced a relatively flat trend pattern. By contrast, France (-2.2%) illustrated a downward trend over the same period. While the share of Ukraine (+4.6 p.p.), India (+3.9 p.p.), the United States (+3.4 p.p.), the Netherlands (+2.7 p.p.) and Greece (+2.5 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Germany (-1.7 p.p.), the UK (-3.3 p.p.) and France (-3.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($177M) constitutes the largest market for imported sleeping bags worldwide, comprising 22% of global imports. The second position in the ranking was held by Germany ($65M), with an 8.1% share of global imports. It was followed by France, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +5.8%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+6.5% per year) and France (+1.2% per year).

Import Prices By Country

The average sleeping bag import price stood at $19 per unit in 2022, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 16% against the previous year. Global import price peaked at $20 per unit in 2021, and then shrank modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($37 per unit), while India ($2.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Sleeping Bags

In 2022, shipments abroad of sleeping bags increased by 13% to 60M units, rising for the second consecutive year after two years of decline. In general, total exports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +36.9% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 27% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, sleeping bag exports skyrocketed to $936M in 2022. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 32% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports By Country

China dominates exports structure, amounting to 40M units, which was approx. 66% of total exports in 2022. Bangladesh (4.6M units) ranks second in terms of the total exports with a 7.5% share, followed by India (5.4%). Turkey (2.4M units), Belgium (1.2M units), Vietnam (1.2M units), the Netherlands (1.1M units), Greece (1.1M units) and France (1.1M units) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +1.7% from 2012 to 2022. At the same time, Greece (+82.9%), Turkey (+42.6%), Vietnam (+42.5%), Bangladesh (+19.2%), India (+14.7%), the Netherlands (+11.1%), France (+2.6%) and Belgium (+1.0%) displayed positive paces of growth. Moreover, Greece emerged as the fastest-growing exporter exported in the world, with a CAGR of +82.9% from 2012-2022. Bangladesh (+5.7 p.p.), Turkey (+3.8 p.p.), India (+3.4 p.p.), Vietnam (+1.9 p.p.) and Greece (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while China saw its share reduced by -15% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($520M) remains the largest sleeping bag supplier worldwide, comprising 56% of global exports. The second position in the ranking was held by Bangladesh ($65M), with a 6.9% share of global exports. It was followed by Vietnam, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +4.9%. In the other countries, the average annual rates were as follows: Bangladesh (+20.1% per year) and Vietnam (+49.7% per year).

Export Prices By Country

The average sleeping bag export price stood at $16 per unit in 2022, with an increase of 6.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 38% against the previous year. As a result, the export price reached the peak level of $16 per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($35 per unit), while Greece ($5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform