Hiking Gear & Equipment Market to Grow with a CAGR of 6.7% Globally through 2028
The global Hiking
Gear & Equipment market is thriving, driven by increased demand for
high-quality fishing gear, technological advancements, and growing interest in
recreational and commercial fishing activities worldwide.
According to
TechSci Research report, “Global Hiking Gear & Equipment Market -
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2028”, the Global Hiking Gear & Equipment Market stood at USD 5.3 billion
in 2022 and is anticipated to grow with a CAGR of 6.7% in the forecast period,
2024-2028. The Global Hiking Gear & Equipment Market is driven by rising
outdoor recreation trends, demographic shifts toward active lifestyles,
sustainability concerns, technological innovations, and effective digital
marketing. The industry emphasizes sustainable materials and eco-conscious
production while integrating technology like GPS and fitness tracking.
Lightweight, compact designs cater to modern hikers' needs, and inclusivity
promotes accessibility for diverse demographics. Customization options and
community-building through digital engagement further enhance the market.
Challenges include fierce competition, sustainability implementation, supply
chain disruptions, and ethical labor practices. Despite these challenges, the
market thrives, reflecting consumers' desire for eco-friendly, tech-enhanced,
and personalized outdoor experiences.
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market data Figures spread through 91 Pages and an in-depth TOC on "Global Hiking
Gear & Equipment Market”
The Global
Hiking Gear & Equipment Market is propelled by a constellation of
influential drivers that collectively contribute to its robust growth and
evolution. These drivers span various facets, from shifting consumer lifestyles
to technological innovations and sustainability consciousness, all of which
shape the landscape of the hiking gear industry.
First and
foremost, the market benefits from the increasing popularity of outdoor
recreational activities worldwide. Hiking, in particular, has witnessed a surge
in enthusiasts seeking to connect with nature, improve physical fitness, and
reduce stress. The desire for outdoor adventures fuels demand for hiking gear
and equipment, from basic essentials to specialized tools, creating a buoyant
market ecosystem.
Demographic
shifts also play a pivotal role in driving market growth. Millennials and
Generation Z, known for their prioritization of experiences over material
possessions, gravitate towards active lifestyles and outdoor pursuits. Hiking
embodies these values, offering a holistic experience that blends physical
activity, mental well-being, and connection to nature. This demographic shift
amplifies the market's appeal and fosters its expansion.
Sustainability
considerations emerge as another vital driver. As environmental consciousness
gains prominence globally, consumers increasingly seek eco-friendly products.
In response, hiking gear manufacturers are embracing sustainability as a core
principle. They employ recycled materials, reduce waste through innovative
production processes, and commit to responsible material sourcing. These
eco-conscious initiatives resonate with consumers, driving demand for
sustainable hiking gear options and shaping the industry's future.
Technological
advancements represent a defining driver, as they are woven into the fabric of
the hiking gear market. Technology has transformed hiking equipment into
sophisticated tools that enhance safety and convenience. GPS navigation systems
integrated into hiking watches and devices facilitate precise trail navigation,
while fitness tracking capabilities empower hikers to monitor health metrics,
plan routes, and set goals. Additionally, solar-powered chargers and portable
power banks incorporated into backpacks cater to the modern hiker's digital
lifestyle. These technological innovations not only attract tech-savvy
consumers but also reflect the market's commitment to delivering cutting-edge
solutions.
The marketing
landscape and influencer culture form another influential driver. Effective
marketing strategies leverage social media platforms and influencer
partnerships to amplify the visibility of hiking gear products. Brands utilize
digital spaces to showcase their products in real-world scenarios, creating
aspirational narratives around outdoor adventures. Influencers and outdoor athletes
provide authentic reviews and recommendations, influencing consumer choices and
nurturing a sense of community among outdoor enthusiasts. These marketing
dynamics contribute to the market's dynamism and expand its reach.
Lastly, the
global context, notably the COVID-19 pandemic, has played a significant role in
propelling the hiking gear market forward. Lockdowns and restrictions prompted
individuals to explore outdoor activities as a safe and socially distant
alternative to indoor pursuits. Many discovered or rekindled their passion for
hiking during this period, fostering a sustained demand for hiking gear and
equipment.
The Global Hiking
Gear & Equipment Market is segmented into type, distribution channel,
regional distribution, and company.
The clothing
segment within the hiking gear and equipment market is witnessing significant
growth. Hiking apparel is no longer just functional; it has evolved into a
fashion-forward and technologically advanced category, meeting the diverse
needs of outdoor enthusiasts. Advanced fabric technologies, sustainability
initiatives, and inclusive sizing options are reshaping hiking clothing.
Additionally, fashion-forward designs, blending urban and outdoor styles, make
hiking clothing versatile for everyday wear. As more people embrace hiking for
health and wellness, this segment's prominence is expected to continue to rise,
reflecting the convergence of style, performance, and sustainability in outdoor
apparel.
Major companies
operating in Global Hiking Gear & Equipment Market are:
- The North Face
- Mountain Hardwear
- Black Diamond Equipment Ltd.
- Marmot Mountain LLC
- Amer Sports
- Equinox Ltd.
- TATONKA
- mont-bell Co., Ltd.
- AMG-Group
- Sierra Designs
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“The Global
Hiking Gear & Equipment Market is driven by factors such as increasing
outdoor recreation trends, demographic shifts toward active lifestyles,
sustainability considerations, technological innovations, effective digital
marketing, and the impact of global events like the COVID-19 pandemic. The
industry emphasizes eco-friendly materials, technological integration,
lightweight and compact designs, inclusivity, customization, and
community-building through digital engagement. Despite challenges like rising
competition, sustainability implementation, and supply chain disruptions, the
market continues to grow. It reflects consumers' desire for eco-conscious,
tech-enhanced, and personalized outdoor experiences, making the hiking gear and
equipment industry a dynamic and evolving sector within the broader outdoor
recreation market.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Hiking Gear & Equipment Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast, Segmented By Product Type (Clothes,
Footwear, Backpack, Equipment, Others), By Sales Channel (Online, Offline), By
Region, By Competition, 2018-2028”, has evaluated the future growth potential of Global Hiking Gear &
Equipment Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Hiking Gear &
Equipment Market.
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