Enjoy complimentary customisation on priority with our Enterprise License!
The hunting equipment accessories market size is forecast to increase by USD 10.00 billion, at a CAGR of 7.44% between 2023 and 2028. The market is experiencing a significant surge, driven by several key factors. Primarily, the increasing demand for hunting licenses signifies a growing interest in this recreational activity. Moreover, the expanding demographic of hunters, coupled with their rising disposable income, fuels the market's expansion. Additionally, the trend towards outdoor recreational activities, particularly in the post-pandemic era, has boosted the demand for hunting equipment and accessories. These factors collectively contribute to the market's accelerated growth, making it an attractive investment opportunity for stakeholders.
For More Highlights About this Report, Download Free Sample in a Minute
In the dynamic market of hunting equipment accessories, certifications play a crucial role in ensuring quality and safety standards. Technologically advanced tools such as hunting optics, binoculars, and riflescopes are essential for enhancing precision and accuracy during outdoor pursuits. Understanding game patterns can significantly influence the choice of accessories, from spotting scopes to specialized gears. Hunters rely on a variety of equipment, including binoculars for scouting and riflescopes for long-range targeting, to optimize their hunting experience. With a focus on quality accessories like spotting scopes and gears, hunters seek durability and performance in rugged terrains. Certification ensures adherence to industry standards, bolstering trust in products among hunting enthusiasts. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the growing demand for hunting licenses. The global hunting equipment and accessories market is witnessing an increase in demand for hunting licenses, reflecting a growing interest in hunting activities worldwide. In addition, this trend is driven by several factors that underscore the importance of hunting licenses within the broader market landscape. Furthermore, one significant driver of this demand is the increasing emphasis on wildlife conservation and sustainable hunting practices.
Moreover, as more individuals recognize the need for responsible stewardship of natural resources, the procurement of hunting licenses serves as a regulatory mechanism. In addition, the rise in hunting tourism and travel contributes to the heightened demand for hunting licenses. Furthermore, many enthusiasts seek opportunities to engage in hunting activities in various regions and countries, prompting the need for licenses that align with local regulations. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the market growth is the integration of smart technology in hunting equipment and accessories. The integration of smart technology in hunting equipment and accessories is a prominent and evolving trend within the global hunting equipment and accessories market, thereby revolutionizing hunting experiences and gear. In addition, this trend encompasses the incorporation of advanced electronic capabilities and connectivity features into essential hunting accessories, revolutionizing the way hunters track, locate, and engage with their surroundings.
Moreover, the advent of smart GPS devices and tracking systems has redefined navigation and safety within the hunting equipment and accessories market. In addition, advanced GPS units equipped with wireless connectivity and geospatial mapping functionalities empower hunters to seamlessly share location data, trails, and waypoints, fostering enhanced communication and coordination during group hunts. Furthermore, these smart devices often feature emergency response capabilities, allowing hunters to transmit distress signals and location information in critical situations. Hence, such factors are driving the market growth during the forecast period.
Stringent regulation on hunting activities is one of the key challenges hindering the market growth. The global hunting equipment and accessories market has faced significant challenges due to stringent regulations on hunting activities which have led to a decrease in the demand for hunting equipment and accessories, negatively impacting the market in various ways. For instance, one of the primary impacts of stringent hunting regulations is the decline in sales of specific hunting accessories, such as high-capacity magazines, certain types of ammunition, and specialized hunting gear.
For instance, in regions where restrictions on magazine capacities have been implemented, the demand for high-capacity magazines has significantly declined. As a result, it has led to a decrease in production and sales for manufacturers of these accessories. In addition, regulations on hunting activities have also influenced consumer behavior. Furthermore, many hunting enthusiasts have altered their hunting preferences and practices due to legal restrictions. Hence, such factors are hindering the market growth 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.
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.
American Outdoor Brands Inc: The company offers hunting equipment accessories such as handgun, rifle, shotgun, and archery under its brands Caldwell, Tipton, and Frankford Arsenal.
The research report also includes detailed analyses of the competitive landscape of the market and information about 22 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. The offline segment comprises a diverse range of products and services that are crucial to the hunting community, highlighting the significance of traditional brick-and-mortar retail, specialized stores, and in-person experiences. In addition, one key aspect of the offline segment is the extensive network of specialty hunting and outdoor retail stores, which serve as crucial hubs for hunters to acquire a wide variety of equipment and accessories.
Get a glance at the market contribution of various segments Download the PDF Sample
The offline segment was the largest segment and was valued at USD 12.54 billion in 2018. Moreover, these physical storefronts offer a hands-on shopping experience, allowing customers to interact with and evaluate products such as firearms, ammunition, hunting apparel, and optics before making a purchase. For example, renowned retailers such as Cabela Inc (Cabela) in the US exemplify the offline segment's influence, providing customers with a comprehensive range of hunting equipment and accessories in an immersive retail environment. In addition, the offline segment encompasses the significant role of local hunting supply stores and firearm dealerships, which cater to the specific needs of hunters within their respective regions. Furthermore, these establishments often offer personalized services, expert advice, and a curated selection of hunting equipment tailored to the local hunting landscape. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 37% 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. The market growth in North America is fuelled by its rich hunting traditions, extensive wilderness areas, and a substantial population of hunting enthusiasts all contribute to the flourishing market for hunting equipment and accessories. In addition, one of the key factors driving the hunting equipment and accessories market in North America is the region's strong preference for advanced and specialized gear. Moreover, hunters in North America often seek high-quality equipment and accessories that can enhance their hunting experience, such as innovative camouflage clothing, cutting-edge optics, and precision hunting knives. Hence, such factors are driving the market growth in North America during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
You may also interested in below market reports:
The market sees growth driven by forest management and the safari tourism industry. In the U.S., factors like high costs and regional restrictions impact sales. Amid the COVID-19 pandemic, online distribution channels gain traction, affecting logistics and transportation services. The market landscape depends on the Sales channel, Hunting rifles & guns, Bow & arrow, Weapon ammunition, Small game, Migratory bird, Big game hunting. Traditional products like guns, rifles, and ammunition remain popular, while new smart hunting equipment emerges. Specialty stores and online platforms cater to individual and commercial end-users. Notable players include the Hornady manufacturing company. Overall, demand remains steady, supported by hunting license sales and interest in new products.
Moreover, the market encompasses a wide array of products essential for both amateur enthusiasts and seasoned hunters. Key items include tools, gears, hunting optics such as binoculars and riflescopes, and precision spotting scopes and rangefinders. For field preparation, field dressing kits, gut hooks, bone saws, and skinning blades are indispensable. Outdoor activities are enhanced by specialized camouflage patterns and durable fabrics, along with effective game calls tailored for different hunting seasons and bag limits. Technological advancements play a crucial role with GPS tracking devices and trail cameras like SPYPOINT and FORLOH facilitating game monitoring. Different game species, from big game like deer, elk, moose, and bears to migratory birds and big cats, cater to varied hunting preferences. The market also supports adventure tourism with offerings available through diverse sales channels, including offline retail stores, emphasizing top-notch customer experience. Essential gear such as boots and tree stands further complement the comprehensive range of hunting accessories, ensuring enthusiasts are well-equipped for their outdoor pursuits.
Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.44% |
Market Growth 2024-2028 |
USD 10.00 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.78 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, China, India, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American Outdoor Brands Inc., BERETTA HOLDING SA, Blaser Group GmbH, BPS Direct LLC, Buck Knives Inc., Cote Reco Inc., DICKS Sporting Goods Inc., Easton Technical Products Inc., FALCO SK s.r.o., FeraDyne Outdoors LLC, Herstal SA, Leupold and Stevens Inc., Outfit International AS, Pure Fishing Inc., Quebec Inc., Revo Brand Inc., RKA Gun Gallery, Spyderco Inc., Sturm Ruger and Co. Inc., Under Armour Inc., Vista Outdoor Inc., and Vortex Optics |
Market dynamics |
Parent market analysis, market growth and trends, market report, market forecast, 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. |
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
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.