Dublin, April 20, 2023 (GLOBE NEWSWIRE) -- The "Global Hiking Gear and Equipment Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
Increasing demand for sports activities among the younger population, particularly millennials, is significantly driving the demand for hiking gear and equipment. Rising disposable incomes are also supporting this demand for recreational and sporting activities. There has been a rising inclination towards fitness regimes and healthy lifestyles among people, which is making outdoor sports events more attractive.
The growing prevalence of obesity and other related chronic diseases is encouraging people to opt for short recreational activities and hiking trips in order to stay fit. As a result, the demand for hiking gear and equipment is witnessing a tremendous rise worldwide. The growing impact of social media trends is also contributing to the market growth of hiking gear and equipment. Even market players are using social media platforms to trigger their sales, thus positively impacting the market growth of hiking gear and equipment.
Increasing consumer attraction towards different outdoor sports and adventures is further spurring the demand for different hiking gear and equipment. Another major driver of the global hiking gear and equipment market is the booming travel and tourism industry. An increasing number of people are travelling more to hike and trek places owing to the rising trend of adventure tourism.
Furthermore, governments in those countries are also taking several initiatives and policies in order to boost the number of international tourists.
Market players are also diversifying their product portfolios in order to match up with the continuously changing demands of consumers. Moreover, vendors of hiking gear and equipment are also engaged in various growth strategies such as investments, expansion of production facilities, and partnerships so as to increase their customer base, which will continue to bolster the global market growth of hiking gear and equipment during the forecast period.
The global hiking gear and equipment market has been segmented on the basis of product type, end-user, sales channel, and geography. By product type, the global hiking gear and equipment market has been segmented into clothing, footwear, equipment, and accessories. By end-user, the market has been segmented by end-user as men, women, and kids. The global baby wipes market has also been segmented by sales channels such as online and offline.
Rising sales of hiking gear and equipment via online channels
The online segment will witness a decent CAGR during the forecast period owing to the ease of shopping for various hiking gear and equipment through online stores at affordable discounted rates. However, the offline segment will continue to dominate the global hiking gear and equipment market on account of the growing presence of sports retail outlets across different regions. Moreover, shopping from offline stores allows customers to benefit from salesperson service and get more knowledge about which product would be the best as per their requirements.
North America has a significant regional market
Geographically, the global hiking gear and equipment market has been segmented into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. Due to the high rate of participation of people in outdoor sports and activities in countries like the U.S. and Canada, North America holds a significant share of the global hiking gear and equipment market.
Rising construction activities related to hiking trails in the U.S. are leading to a further increase in the number of hikers, thus positively impacting the growth of this regional market during the forecast period. The number of trail permits issued by the Pacific Crest Trail Association, which runs from Mexico to Canada, has increased from 1,879 in 2013 to 7,313 in 2018. According to the Appalachian Trail Conservancy (ATC), the number of hikers setting out from Georgia to Maine increased to 3,735 in 2017 from 1,460 in 2010.
The Asia Pacific regional market for hiking gear and equipment is projected to witness a substantial CAGR during the forecast period due to the rising adoption of outdoor sports and recreational activities in countries like India, China, and Australia. The rising influx of international tourists is also boosting the demand for many outdoor activities in the region, thereby further accelerating the market growth of hiking gear and equipment.
Competitive Insights
Marmot Mountain LLC, Mountain Hardwear, AMG-Group, THE NORTH FACE, A VF COMPANY, Black Diamond Equipment, Ltd., Kelty, Big Agnes, Inc., Sierra Designs, JOHNSON OUTDOORS INC., Hilleberg the Tentmaker, Inc., Amer Sports, and NEMO Equipment, Inc. are among the prominent key market players in the Global Hiking Gear and Equipment market. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the global hiking gear and equipment market have been covered along with their relative competitive positions and strategies. The report also mentions recent deals and investments by different market players over the last two years.
Segmentation
By Product Type
- Clothing
- Footwear
- Backpack
- Equipment
- Accessories
By End-User
- Men
- Women
- Kids
By Sales Channel
- Online
- Offline
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- UK
- Germany
- Austria
- Switzerland
- France
- Spain
- Italy
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Asia Pacific
- China
- Japan
- South Korea
- India
- Indonesia
- Philippines
- Australia
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. GLOBAL HIKING GEAR and EQUIPMENT MARKET, BY PRODUCT TYPE
6. GLOBAL HIKING GEAR and EQUIPMENT MARKET, BY END-USER
7. GLOBAL HIKING GEAR and EQUIPMENT MARKET, BY SALES CHANNEL
8. GLOBAL HIKING GEAR and EQUIPMENT MARKET, BY GEOGRAPHY
9. COMPANY PROFILES
Companies Mentioned
- Marmot Mountain LLC
- THE NORTH FACE, A VF COMPANY
- Black Diamond Equipment, Ltd
- Columbia Sportswear Company
- Dometic Group AB
- Fenix outdoor International AG
- Shimano Inc.
- Yeti Holding Inc.
- Decathlon S.A
- Wildcraft
- SALOMON International
- Callaway Golf Company (Jack Wolfskin)
- Anta Sports (Arc'teryx)
For more information about this report visit https://www.researchandmarkets.com/r/axwhxg
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