The latest report by IMARC Group, titled “Hiking Gear and Equipment Market Report by Product (Clothes, Footwear, Backpack, Equipment, and Others), Gender (Men, Women, Kids), Distribution Channel (Online, Offline), and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the market.
What is the hiking gear and equipment market forecast?
The global hiking gear and equipment market size reached US$ 6.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032.
Factors Affecting the Growth of the Hiking Gear and Equipment Industry:
- Increasing Outdoor Recreation Participation:
The rising interest in outdoor activities, especially among millennials and Gen Z, is a significant factor driving the growth of the hiking gear and equipment industry. With a growing emphasis on physical health, mental well-being, and a desire to connect with nature, more people are turning to hiking as a preferred form of recreation. This trend has led to an increased demand for hiking-specific gear and equipment, including lightweight backpacks, all-terrain footwear, and advanced navigation tools, fueling industry expansion and growth.
- Technological Advancements in Gear and Equipment:
Technological advancements in gear and equipment have greatly enhanced the quality and functionality of hiking products. Developments such as waterproof yet breathable fabrics, lightweight yet durable materials, and GPS-enhanced devices have improved the safety, comfort, and convenience of hiking experiences. Innovations like solar-powered chargers and advanced hydration systems also cater to the modern hiker's needs for efficiency and sustainability. These advancements cater to seasoned hikers seeking high-performance equipment and support beginners in enjoying a safe and comfortable outdoor experience, broadening the industry's appeal and market base.
- Eco-conscious Consumer Preferences:
An increasing awareness of environmental issues has led consumers to prefer eco-friendly and sustainable hiking gear and equipment. Brands that emphasize green practices, such as using recycled materials and minimizing carbon footprints in manufacturing processes, are gaining traction. This shift in consumer preferences is pushing the industry toward sustainable product lines and ethical production methods. As a result, companies focusing on sustainability are experiencing growth, reflecting the response of the market to a global call for environmental stewardship in consumerism.
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Major Companies Operating in the Hiking Gear and Equipment Industry:
- Amer Sports Oyj
- AMG Group Ltd.
- Black Diamond Equipment, Ltd. (Clarus Corp.)
- Equinox Industries Ltd.
- Marmot Mountain LLC (Newell Brands)
- Montbell Co. Ltd.
- Mountain Hardwear (Columbia Sportswear)
- Sierra Designs
- Tatonka GmbH
- VF Corporation
Hiking Gear and Equipment Market Report Segmentation:
By Product:
- Clothes
- Footwear
- Backpack
- Equipment
- Others
Clothes dominate the market due to the essential need for specialized, weather-appropriate apparel that provides protection and comfort in varying outdoor conditions, making it a fundamental requirement for hikers.
By Gender:
- Men
- Women
- Kids
Men account for the largest market share due to historically higher participation rates in outdoor and hiking activities among men, coupled with a wide range of product offerings specifically designed to cater to their preferences and needs.
By Distribution Channel:
- Online
- Offline
Offline represents the largest segment as consumers prefer physically trying on and testing the quality and fit of hiking gear and equipment, such as clothing and footwear, to ensure comfort and functionality before making a purchase.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America's dominance in the hiking gear and equipment market is attributed to the region's well-established culture of outdoor recreational activities, extensive natural parks and trails, and the high spending capability of consumers on outdoor recreation and gear. Top of Form
Global Hiking Gear and Equipment Market Trends:
The global hiking gear and equipment market is witnessing significant trends centered around innovation, sustainability, and personalization. Technological advancements are revolutionizing product offerings, with lightweight, durable materials and smart technologies enhancing user safety and experience. Sustainability has emerged as a key trend, with consumers increasingly favoring eco-friendly products, driving manufacturers to adopt greener practices and materials. Additionally, the demand for personalized and versatile gear is on the rise, reflecting a desire for equipment that aligns with individual hiking styles and needs. These trends highlight a dynamic market evolving to meet the changing preferences and values of modern consumers.
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