Floating Backpack Sector: Growth Drivers and Challenges
Growth Drivers
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Increasing Cases Of Arthritis And Related Medical Injuries
According to the statistics by the Centers for Disease Control and Prevention (CDC), around 78 million or 26% of US adults aged 18 years or older are anticipated to have arthritis diagnosed by doctors by the end of 2040.
Rising cases of arthritis and related medical problems across the globe is one of the major factors which is fuelling the demand for floating backpacks. Additionally, increasing number of commuters and the concern for their luggage load is escalating the need for carrying their baggage more comfortably and conveniently during the period of their travel. Such factors are expected to drive the growth of global floating backpack market in the near future.
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Growing Need for Light Weighed Backpacks for Military Operations
There is a rising need amongst military personnel for equipment that can help them increase their effectiveness, especially for products, such as floating backpacks, that can help them carry heavy loads in their back during a military operation. Military personnel are required to carry various type of equipment and goods to places where transportation by vehicle is not allowed. As such, utilization of floating backpacks can help these personnel increase their effectiveness by easing their backs from heavy weighed loads, and further help them achieve long travelled roads at ease. Such a factor is anticipated to drive the growth of the global floating backpack market.
Challenges
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High Costs of Floating Backpack And Lack of Product Awareness
Floating backpacks are comparatively priced high owing to their design and technological advancements, when compared to a conventional backpack. Moreover, lack of awareness about the product is also anticipated to impact negatively towards the growth of the global floating backpack market.
