Snow Sports Apparel Market: Demand To Multiply At A Healthy Rate, Observes TMR
The demand in the global snow sports apparel market is projected to increase at a robust rate during the forecast period of 2017 to 2022. The market is anticipated to gain traction from a number of factors such as increasing popularity of Winter Olympics, growing preference of urban population for outdoor recreational activities, technological advancements in the apparels that add to safety, and awareness regarding eco-friendly gateways.
That being said, cost of the products is somewhat hindering the growth of the global snow sports apparel market, although since most of the participating countries are wealthy, comparatively, this factors is not expected to cause too many challenges. Moreover, sales of women’s specific products is incrementing, and opening new opportunities in the global snow sports apparel market.
Shell Tops Generates Maximum Demand among All Product Segments
Among all the product segments, the global snow sports apparel market gains maximum demand for shell tops. This segment individually accounted for US$192.9 mn of the snow sports apparel market in 2017, which represented 14.8% of the overall demand. The TMR report projects the demand for shell tops segment to experience a CAGR of 5.8% during the forecast period of 2017 to 2022, reaching a valuation of US$255.3 mn by 2022.
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It is growing at US$12.5 mn annually over the course of the forecast period, and this absolute growth is larger than the any other segment. Latest shell tops are designed to serve as the first layer of defense between the end-user and the environmental elements, ranging from an alpine whiteout to an afternoon thunderstorm. Considered as the crown jewel of any outdoor kit, shell tops also keeps the players warm and dry, despite weighing less than a pair of blue jeans.
USA to Maintain North America’s Stance as Most Profitable Region
The region of North America is estimated to dominate the global snow sports apparel market in terms of revenue in 2017, and the trend is projected to grow throughout the forecast period. The developed countries of the U.S. and Canada are identified as the chief demand-generators. The North America snow sports apparel market is the most attractive market, growing at a CAGR of 6.5% over the forecast period. TMR forecasts the North America snow sports apparel market to grow from US$ 397.8 Mn in 2017 to US$ 546.3 Mn in 2022. This represents a compound annual growth rate (CAGR) of 6.5% from 2017 to 2022.
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The Europe snow sports apparel market is anticipated to increase at a CAGR of 5.3% over 2017-2022, to reach US$ 403.5 Mn by 2022. The valuation of Japan snow sports apparel market is projected to increase at a CAGR of 5.1% over 2017-2022, to reach US$ 88.2 Mn by 2022, whereas overall revenue from APEJ snow sports apparel market is anticipated to increase at a CAGR of 6% over 2017-2022, to reach US$ 296.2 Mn by 2022. MEA snow sports apparel market is expected to create absolute dollar opportunity of US$ 8.4 Mn between 2017 and 2022.
Competitive Landscape Remains Consolidated as Companies Invest in Aggressive Marketing Strategies
Some of the key players currently holding a prominent position in the global snow sports apparel market are: Adidas, Nike, HotChillys, Volcom, UnderArmour, YakTrax, Champion, The North Face, Columbia, Black Diamond Equipment, Boll, Armada, Paradox, Burton, Mountain Hardwear, Dryguy, Giro, Oakley, Hanes, and Smith. The competitive landscape is moderately consolidated among these players, who each have a diverse product portfolio and depend on aggressive marketing strategies to maintain their stronghold over the market.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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