A waterproof bag is needed to protect the electronic devices and gadgets against water, sand, and other potential hazards. Waterproof bags consist of organic and natural fibers treated or laminated with waterproofing components such as silicone elastomer, rubber, wax, etc. It's a pack that ensures you should fully immerse itself in a body of water without having any moisture inside. There is a vacuum seal in these containers, from which air is forced out until opened, to keep sand and water from entering the unit inside. Depending on the waterproofing principle, different types of waterproof bags are available on the market. The waterproof bag market has expanded significantly because these bags find applications in the fields of defense, marine, trekking, and electronics industries. Travelers use them mostly to protect their mobiles and cameras against sand, water, etc.
COVID-19 Scenario Analysis
- The global pandemic has a significant negative impact on the growth of the Waterproof Bags due to a decline in consumer demand.
- Restriction on traveling and other sports i.e. trekking, poses a negative effect in the growth of Waterproof Bags Market.
- In many countries, the industries are shut down, so the production of waterproof bags also gone down drastically due to the restriction of the labor movement and no availability of raw material.
- The supply chain of the waterproof bags has disrupted due to the trade barriers
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The increasing need for electronics and devices is contributing to a rise in demand for their protective covers and wallets, thereby stimulating the growth of the global need for waterproof bags.
The growing disposable income of the global population is one of the factors which lead to an increase in the demand of these products globally.
People's increasing interest in water sports, such as river rafting, is aligning them with using waterproof bags for their devices, a factor that is further boosting the growth of the waterproof bags market.
Waterproof bags are inexpensive and are now readily accessible in various sizes and shapes based on the product need. The lightweight and compact design of these bags are making them more and more common among consumers, pushing the market growth globally.
Waterproof bags are made out of plastic, rubber, or its derivatives and these are not environmentally friendly materials. These materials, too, cannot be easily decomposed, thus creating environmental concerns among consumers. This factor might hinder global waterproof bags market growth over the forecast period.
The Global Market Trends
- Its low cost and versatility feature are the two major factors projected to generate multiple growth prospects for the global demand for waterproof bags.
- Growing waterproof bag applications, for example for canoeing and kayaking, are also making it more popular among consumers. New versions of waterproof bags, such as the Hefty Slider bag, Laird waterproof bag, mark new uses of those bags. The waterproof bags market is projected to have an excellent growth potential in the future, and the market is expected to expand at a modest rate.
- In recent years, e-commerce has helped the Waterproof bag market remarkably. High internet penetration, growing smartphone sales, and digitalization have encouraged growth in e-commerce across all regions, which in turn is anticipated to foster growth of the Waterproof Bag market In the future.
Key Benefits of the Report
- This study presents the analytical depiction of the Waterproof Bags Market Industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Waterproof Bags Market share.
- The current market is quantitatively analyzed to highlight the global Pore Waterproof Bags Market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Waterproof Bags Market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Waterproof Bags Market Research Report
- Which are the leading players active in the Waterproof Bags Market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
Waterproof Bags Market Report Highlights
By End Use Industries
By Distribution Channel
Key Market Players
Guangzhou JQX Industrial Co., Limited, Maysky Bags Co. Ltd, Shenzhen Socoole Technology Co. Ltd, Yiwu Global Bag Co., Ltd, JinjiangJiaxing Company, 4U Sporting Goods Co., Ltd, Sealock Outdoor Gear Co. Ltd, HuianMingzhou Light Industry Bags Co., Ltd, Quanzhou Hoosam Bags Co. Ltd