Archery Equipment Market to See Striking Growth by 2028 | IMARC Group

IMARC Group, a leading market research company, has recently releases report titled "Archery Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The study provides a detailed analysis of the industry, including the archery equipment market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the archery equipment market?

The global archery equipment market size reached US$ 3.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.

What is archery equipment?

Archery is a game that involves shooting arrows with a bow at an aimed target from a specific distance. It assists in improving focus, increasing confidence, enhancing coordination and upper body strength, and relieving stress among individuals. It also aids in increasing patience, improving hand-eye coordination, and enhancing social skills. Besides this, it helps archers overcome post-traumatic stress disorder and provide mental relief. As a result, there is a rise in the demand for various archery equipment, such as a bow, arrows, arm guard, quiver, bow stand, finger tab, release aid, finger sling, bow stringer, and target, across the globe.

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What are the growth prospects and trends in the archery equipment industry?

At present, the increasing adoption of archery among children as it builds self-confidence and improves mental and physical capabilities represents one of the primary factors propelling the market growth. Besides this, the growing awareness about archery as a sport is offering a positive market outlook. Apart from this, the increasing demand for archery equipment due to the rising number of sports clubs and gaming zones around the world is offering lucrative growth opportunities to industry investors and key players. Moreover, the rising adoption of archery among individuals, as it boosts energy levels, increases blood flow, and relieves arthritis pain, is contributing to the growth of the market. Furthermore, governing agencies of various countries are encouraging the adoption of archery as a professional sport, which is strengthening the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product:

Bows and Bow Accessories
Arrows
Others

Breakup by End User:

Individual Consumer
Clubs and Gaming Zones
Sports Organizers

Breakup by Distribution Channel:

Speciality and Sports Shops
Departmental and Discount Stores
Online Stores
Others

Breakup by Region:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Bear Archery, Inc.
Crossman Corporation
Easton Technical Products, Inc.
Gold Tip LLC
Mathews Archery, Inc.
New Archery Products, Inc.
Precision Shooting Equipment, Inc.
The Outdoor Group LLC
The Bohning Company

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This release was published on openPR.