Portland, OR, March 04, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Hiking Accessories Market by Type (Camping Gear, Apparel, Footwear, Backpacks, and Others), End User (Men, Women, and Kids), and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the global hiking accessories market size was valued at $26.5 billion in 2022, and is projected to reach $49.8 billion by 2032, growing at a CAGR of 6.7% from 2023 to 2032.
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Prime determinants of growth
The growing interest in outdoor activities is driving the growth of the hiking accessories market. However, the growth of the hiking accessories market is restricted by weather conditions. On the other hand, expansion into emerging markets presents remunerative opportunities for the expansion of hiking accessories during the forecast period.
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size In 2022 | $26.5 billion |
Market Size In 2032 | $49.8 billion |
CAGR | 6.7% |
No. Of Pages In Report | 250 |
Segments Covered | Type, End User, And Distribution Channel |
Drivers |
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Opportunities |
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| Restraints |
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The camping gear segment to maintain its leadership status throughout the forecast period
By type, the camping gear segment held the highest market share in 2022, accounting for two-fifths of the hiking accessories market revenue and is estimated to maintain its leadership status throughout the forecast period. The rise of eco-friendly and sustainable products has led to an increased demand for environmentally conscious gear, promoting the use of recycled materials and ethical manufacturing processes. The backpacks segment, however, showcases the fastest CAGR of 7.6% during the forecast period. An increase in outdoor activities and an increasing number of health-conscious consumers are driving a boom in demand for hiking supplies, especially backpacks.
The men segment to maintain its leadership status throughout the forecast period
By end user, the men segment held the highest market share in 2022, accounting for nearly half of the hiking accessories market share and is estimated to maintain its leadership status throughout the forecast period. A growing interest in outdoor activities for fitness, mental well-being, and social engagement is a growth factor for male users. The women segment, however, showcases the fastest CAGR of 7.0% during the forecast period. The market for hiking accessories for women as end users is growing significantly, driven by the increasing trend of women participating in outdoor activities.
The offline segment to maintain its leadership status throughout the forecast period
By distribution channel, the offline segment held the highest market share in 2022, accounting for more than two-thirds of the hiking accessories market revenue and is estimated to maintain its leadership status throughout the forecast period. The demand for hiking accessories is being driven by the increased popularity of outdoor sports and a growing number of people who are concerned about their health. The online segment, however, showcases the fastest CAGR of 7.3% during the forecast period. The hiking accessories market is experiencing rapid growth in online distribution channels due to convenient shopping and consumer preference for a variety of products.
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Leading Market Players: -
- The North Face
- Patagonia
- Columbia Sportswear
- Arc'teryx
- REI (Recreational Equipment, Inc.)
- Black Diamond Equipment
- Osprey Packs
- Salomon
- Merrell
- Mountain Hardwear
The report provides a detailed analysis of these key players in the hiking accessories market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Similar Reports We Have on Consumer Goods Industry:
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• Hiking Pants Market Opportunity Analysis and Industry Forecast, 2023-2032
• Hiking Sandals Market Opportunity Analysis and Industry Forecast, 2023-2032
• Hiking Gear Market Opportunity Analysis and Industry Forecast, 2023-2032
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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