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The archery equipment market size is estimated to grow by USD 1.52 billion at a CAGR of 7.5% between 2023 and 2028. Market growth hinges on several factors such as increasing consumer preference for adventure sports, expanding availability of training facilities, and robust support from governments and sports organizations. The rising popularity of adventure sports reflects a cultural shift towards outdoor recreational activities that offer excitement and physical challenge. Concurrently, the proliferation of specialized training facilities enhances accessibility and skill development, catering to enthusiasts and aspiring athletes alike. Furthermore, governmental and organizational support promotes infrastructure development, safety standards, and competitive opportunities, bolstering the sport's legitimacy and appeal. These trends collectively drive market expansion by fostering a supportive ecosystem that encourages participation, innovation in equipment and services, and sustainable growth in the adventure sports sector. As stakeholders collaborate to meet growing demand and enhance the sport's accessibility and safety, opportunities abound for investment and development across recreational and competitive landscapes. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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The Archery Equipment market is buoyed by increasing rate in the sports sector investment, driven by its competitive environment and inclusion in events like the Olympic Games participation . Programs such as NASP program, JOAD program, and ASAP program enhance infrastructure and integrate archery into school curriculum, fostering mental stamina and self-confidence among participants. USA Archery plays a pivotal role in promoting the sport nationwide, supported by global players and regional players expanding strategic approaches. Technological advancement in archery equipment improve performance, with innovations in bows, arrows, and accessories catering to both professional and amateur archers. As archery sport gains popularity globally, the market sees growth opportunities in regional expansion and the development of specialized gear, reinforcing archery's position as a dynamic and accessible sport in the broader sports equipment industry.
The rise in consumer preference for adventure sports is notably driving the market growth. There has been an increase in consumer interest in adventure sports such as river rafting, bowhunting, and paragliding recently. Various television ads, movies, and videos that portray these sports attract people to try them. Although this sport in fields and other proper facilities has been popular among consumers traditionally, leveraging technology platforms to engage effectively with consumers is a relatively recent phenomenon. Several new online and mobile application-based games, such as Archery Master 3D, Archery King, and Archery World Cup, are available in the market; these games have played a significant role in keeping the market buoyant and spreading awareness of the sport.
Moreover, changing demographics and lifestyles and increasing per capita income, along with an increase in recreation-related expenditure, have helped in increasing the popularity of and enrolment in various outdoor sports. The inclusion of the sport in global tournaments like the Olympic Games and the Commonwealth Games, and regional tournaments like the Asian Cup and the European Cup is also helping in promoting the game worldwide. These factors are expected to drive the growth of the global market during the forecast period.
Multi-channel distribution is an emerging trend shaping the market growth. This is now easily available in the market through different well-established offline retail formats such as hypermarkets, supermarkets, department stores, and specialty sports retailers. There has also been an upsurge in online retailing of this sport equipment. The companies in the market are actively marking their online presence through various online retailing platforms such as Amazon and Alibaba. For instance, PSE Archery is selling its products through websites such as Amazon and Alibaba, and Bear Archery is selling its products through offline retailers as well as third-party online retailers such as Amazon.
However, the multi-channel distribution format provides market companies with relatively high visibility and opportunities to engage with customers of different age groups. Over the coming years, the multi-channel distribution strategy is expected to be explored by various companies, especially by those trying to cater to the relatively less-penetrated markets in APAC. These factors will drive the growth of the global market during the forecast period.
Restrictions on the hunting of wildlife, especially protected species is a significant challenge hindering the market growth. The growth of the market in the US is supported by the seasonality of the business. This sport is a seasonal outdoor sport and is preferably practiced in good weather. It is practiced in different seasons, with the sales reaching the highest during peak seasons. In the US, most bowhunting for big games takes place from late August to December. Big game species included for hunting are mule deer, white-tailed deer, fall Turkey, fall javelina, bighorn sheep, fall buffalo, fall bear, and mountain lion.
In addition, strict government laws against hunting, such as the Wildlife Protection Act 1972, Hunting Act 2004, and Animal Welfare Act 1966, are affecting the sales of and demand for this sport equipment. Moreover, the high penalties on people found hunting restrict the practice. This brings down the sales of bowhunting equipment. Therefore, hunting restrictions will hinder the growth of the global market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Archers USA - The company offers whistles, stretch bands, string loop and others.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. Specialty and sports shops are the largest revenue-generating segment in the market. Specialty and sports shop retailers, which focus exclusively on sports and related equipment, charge more than other retailers.
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The offline segment was the largest segment and was valued at USD 2.29 billion in 2018. They offer great visibility and a wide assortment of products. Moreover, consumers prefer buying these from retailers, as they carry a portfolio of specialty products, provide the required support and information to consumers, and offer them advice via expert customer service personnel. Hence, prominent players operating in the global market sell their products through these stores. Such factors fuel the growth of the segment which in turn drives the market growth during the forecast period.
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Europe is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Europe has a high adoption rate of the sport, with active participants in both male and female categories. Among the various factors keeping the market buoyant is the presence of adequate infrastructure and facilities for this sport. Different types of archery are popular in different countries in Europe. Though bowhunting is banned in countries such as Croatia, Poland, Germany, Italy, Norway, and the UK, it is popular in Denmark, France, Spain, Portugal, Hungary, Finland, Bulgaria, and Slovenia. The market generates most of its revenue through target archery.
In addition, various tournaments are conducted in Europe. A few popular tournaments in this region are the European Championship and the European Tournament. Such tournaments are driving the growth of the regional market.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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The Archery Equipment market thrives on increasing participation rates and advancements in technological development. Innovations like the BOWdometer Open Platform from Toxon Technologies provide real-time shooting data, revolutionizing archery practice as a companion tool. Modern materials enhance durability in recurve bows, compound bows, longbows, and crossbows, catering to both recreational and competitive archers. Archery offers physical and mental benefits, making it popular for outdoor activities and included in school curricula worldwide. E-commerce and social media influence drive individual consumer choices, promoting personalized archery gear through online platforms and specialty shops.
Further, sports clubs and gaming zones support community engagement, offering hands-on experience and expertise in equipment tuning, repairs, and maintenance. As international sports events showcase archery's appeal, the market expands with robust distribution channels and after-sales services, ensuring archers have access to top-quality equipment tailored to their needs. The increasing participation rate of women contestants in recreational activity, supported by well-equipped sports clubs infrastructure and accessible gaming centers, are fostering physical fitness, well-being, and health benefits.
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Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.5% |
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Market Growth 2024-2028 |
USD 1.52 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.1 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 38% |
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Key countries |
US, South Korea, Japan, UK, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Archers USA, Axion Archery, Bear Archery Inc., Black Widow Bows, Carbon Tech, Custom Archery Supply LLC, Easton Technical Products Inc., Great Plains Traditional Bow Co., LINYI JUNXING SPORTS EQUIPMENT CO. LTD., Martin Archery, Mathews Archery Inc., New Archery Products Inc., Precision Shooting Equipment Inc., Predators Archery, Pullin Archery Products Inc., SAMICK SPORTS USA Inc., Southwest Archery USA, The Bohning Co. Ltd., Vista Outdoor Inc., and Bowtech Inc. |
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Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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