The hunting equipment and accessory market is expected to grow at a CAGR of 7.5% throughout the forecast period, with the industry projected to exceed USD 51,578.2 million by 2034, up from USD 25,025.4 million in 2024. Increased interest in outdoor recreational activities, particularly in regions like North America, is fueling the demand for hunting gear.
Higher utillization of outdoor recreational options by the consumers tend to increase due to fast paced work life that is stress inducing in nature. Further factor into this is urbanization and health consciousness making the public participate in hunting activities even more intensified.
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These factors are expected to fuel the global hunting supplies & equipment market during the forecast period. It is major market foster factor as increased popularity of hunting and fishing as well as widespread use of lead-free ammunition to prevent harm on wildlife finds its way into commercial water sources. North America speaks about a significantly high market share that increases with higher growth rate because the region’s all markets are getting better and even now .Thus, players can have a great chance to better their security and strengthen their stand in the competitive market.
Key Takeaways from the Market Study
- As of 2024, the hunting equipment & accessories market was valued at USD 25,025.4 million
- From 2024 to 2034, the industry is poised to grow at a 7.5% CAGR
- By 2034, hunting equipment & accessories market is slated to reach a valuation of USD 51,578.2 million
- By distribution channel, the specialty stores segment accounted for the largest share of 8.1% and is expected to continue this trend over the forecast period.
- China is poised to yield a CAGR of 8.1% with respect to hunting equipment & accessories in 2034
“Growing per capita income and increased spending on recreational activity are expected to radically transform the hunting equipment & accessories market in the coming years,” comments an analyst at FMI.
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Competitive Landscape
- American Outdoor Brands Corp.
- Beretta Holding SA
- BPS Direct LLC
- Buck Knives, Inc.
- Dick’s Sporting Goods, Inc.
- SPYPOINT
- Under Armour, Inc.
- Spyderco, Inc.
- Sturm Ruger & Co. Inc.
- Vista Outdoor Inc.
are some of the key players in the hunting equipment & accessories industry.
These players are continuously adopting various strategies such as new product launches, facility expansions, mergers, collaborations, partnerships, and acquisitions to increase their revenue share and gain a competitive edge in the market. for instance,
Recent Developments:
- In October 2022- Vista Outdoor Inc. has officially welcomed Ganka Inc., a leading distributor of high-quality outdoor clothing & accessories, as a new licensee partner. Ganka represents an extensive line of leading br&s, & this partnership is designed to provide essential apparel & footwear to hunters, hikers & outdoor enthusiasts.
- In August 2022 – Sturm, Ruger & Company, Inc. introduce the lightweight, compact Ruger® LC Carbine™ chambered in 5.7x28mm. The compact nature of this carbine owes to its bolt-over-barrel design & feeding through the grip. The Ruger LC Carbine has a full 16.25″ barrel, features a reversible side-folding stock adjustable for length of pull, and is compatible with Picatinny rail-mounted accessory stocks. The stock & Rapid Deploy adjustable sights can be folded for storage.
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FMIs Domain Knowledge in Consumer Product
Our consumer product consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the industrial automation sector.
Our expertise in recognizing the challenges and trends impacting the global industrial automation industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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