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Hiking Accessories Market is likely to expand US$ 49.8 billion at 6.7% CAGR by 2032

06-05-2024 11:47 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Market Research

Hiking Accessories Market is likely to expand US$ 49.8 billion

According to a new report published by Allied Market Research, titled, "Hiking Accessories Market," The hiking accessories market size was valued at $26.5 billion in 2022, and is estimated to reach $49.8 billion by 2032, growing at a CAGR of 6.7% from 2023 to 2032.

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The market has grown significantly in recent years as outdoor activities, especially hiking, have gained popularity among consumers looking to escape the hustle and bustle of the city and connect with nature. From casual walkers to passionate hikers, hiking enthusiasts are demanding a variety of accessories to enhance their outdoor experiences.

Key players in the market offer a variety of products to suit the needs of different hikers. Essential items include a high-quality, ergonomically designed backpack, durable hiking boots suitable for a variety of terrains, moisture-wicking clothing for comfort, and weatherproof outerwear for protection. In addition, innovative technologies such as GPS navigation, water purification systems, and lightweight and compact outdoor equipment are being introduced to the market.

With the growing emphasis on sustainability, eco-friendly materials and methods are becoming more prevalent in the hiking accessories market. Brands are appealing to a growing base of environmentally conscious consumers by incorporating recycled materials into their products and adopting environmentally friendly manufacturing processes.

The growth of e-commerce has also contributed to the expansion of the market, giving consumers easy access to a variety of hiking accessories from the comfort of their own homes. Social media platforms further increase awareness and influence purchasing decisions as outdoor enthusiasts share their experiences and recommend their favorite gear. As global interest in outdoor activities continues to grow, the market is expected to continue to expand. Innovations in design, technology and sustainability will play a key role in shaping the future of the industry. All these hiking accessories market trends are driving hiking accessories market demand.

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According to the hiking accessories market analysis, the market is analyzed on the basis of type, end user, distribution channel, and region. On the basis of type, the market is bifurcated into camping gear, apparel, footwear, backpacks, and others. Among these, the camping gear segment occupied the major hiking accessories market share in 2022 and is projected to maintain its dominance during the forecast period. Growing interest in outdoor activities and environmental trends are driving the growth of this segment. Lightweight and durable materials that provide comfort to tourists are mostly preferred by consumers. Innovative features such as solar power devices and space-saving designs are gaining popularity. As technology becomes more integrated with outdoor gear, demand for GPS-enabled tools and portable cooking solutions is increasing. Sustainability remains a key trend with environmentally conscious consumers seeking products made from recycled or eco-friendly materials. As such, the camping gear segment is experiencing steady hiking accessories market growth driven by these trends and consumer preferences.

On the basis of end user, the market is divided into men, women, and kids. The women segment has grown at a moderate rate during the forecast period. The market for hiking accessories for women as end users is growing significantly, driven by the increasing trend of women participating in outdoor activities. The key is the increased interest in women's clothing that combines style and functionality. Innovations in lightweight and durable materials, combined with design advancements for comfort and performance, are further driving market expansion. Additionally, increasing awareness of women's health and wellness and increasing desire for sustainable and eco-friendly products are driving a positive trajectory for the market.

On the basis of distribution channel, the market is bifurcated into online and offline. The online segment has grown at the fastest growth rate during the forecast period. The hiking accessories market is experiencing rapid growth in online distribution channels due to convenient shopping and consumer preference for a variety of products. The increasing penetration of e-commerce platforms is attracting the attention of tech-savvy outdoor enthusiasts with a wide variety of outdoor gear to choose from. Key trends include the growth of online specialty stores, increased product visibility through digital marketing, and seamless customer service. Factors such as easy availability, competitive pricing, and customer reviews are driving the expansion of online channels, making them key factors in the hiking accessories market.

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The major players analyzed for the hiking accessories industry are The North Face, Patagonia, Columbia Sportswear, Arc'teryx, REI (Recreational Equipment, Inc.), Black Diamond Equipment, Osprey Packs, Salomon, Merrell, and Mountain Hardwear.

KEY FINDINGS OF STUDY

On the basis of type, the camping gear segment was the highest contributor to the market in 2022.

On the basis of end user, the women segment is the fastest-growing segment with a 7.0% CAGR during the forecast period.

On the basis of distribution channel, the offline segment was the largest in the market in 2022.

Reasons to Buy this Hiking Accessories Market Report:

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> Sort new clients or possible partners into the demographic you're looking for.

> Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.

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> To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors

Related Reports:

Hiking Gear & Equipment Market https://www.alliedmarketresearch.com/hiking-gear-and-equipment-market-A06089

Sports Equipment and Apparel Market https://www.alliedmarketresearch.com/sports-equipment-and-apparel-market

Tracksuit Market https://alliedmarketresearch.com/tracksuit-market-A13056

Travel Safety Kits Market https://www.alliedmarketresearch.com/travel-safety-kits-market-A15894

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry

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