Americas Hunting Equipment Market Size 2024-2028

The Americas hunting equipment market size is estimated to grow by USD 884.51 million, at a CAGR of 1.73% between  2023 and 2028. The rise in online sales of hunting equipment accessories drives market growth and forecasting, analyzed through market research. Internet-enabled smartphones facilitate e-commerce growth across the Americas, offering a market opportunity for innovative hunting gear providers. Their online platforms showcase ammunition designs, optics, blinds, spotting scopes, and trail cameras. However, stringent regulations on hunting practices pose challenges despite the market forecast for hunting equipment. Hunters' conservation role underscores their demand for sustainable products like scent eliminators and sharpeners. Seasonal variations in hunting seasons affect market growth, particularly in agricultural and farm machinery sectors. Adapting to these dynamics is crucial for sustained market growth.

What will be the Size of the Americas Hunting Equipment Market During the Forecast Period?

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Americas Hunting Equipment Market Segmentation 

By End-user

The commercial segment is estimated to witness significant growth during the forecast period. Commercial use of this is expected to increase significantly in the next few years. This is primarily due to the increasing popularity of hunting and the growing number of people who are taking up the sport, which will drive the adoption of archery equipment and accessories.

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The commercial segment was the largest and was valued at USD 6.19 billion in 2018. Some of the most popular hunting equipment in the Americas include rifles, shotguns, handguns, and bows and arrows. Rifles are by far the most popular type of hunting-weapon, accounting for nearly 60% of all sales in the region. Shotguns are the second most popular type of hunting-weapon, accounting for around 20% of sales. In addition, many businesses are now offering hunts as corporate retreats or team-building exercises. As a result, there is a growing US hunting-equipment and accessories market demand for high-quality hunting-equipment that can be used for these purposes. These factors are expected to drive the commercial use segment in the market during the forecast period.

By Product

Based on product, the market has been segmented into firearms, ammunition and accessories, and archery equipment and knives. The firearms segment will account for the largest share of this segment.? Firearms include rifles, shotguns, muzzleloaders, primitive firearms, pistols, handguns, and small arms. While hunters who use rifles and shotguns for game and bird-hunting must carry equipment licenses, the use of muzzleloaders, primitive firearms, and handguns involves less stringent regulations in the Americas. Firearm permit holders can hunt with any legal equipment during hunting-season in the US and Canada, which can result in USA's market expansion, which is expected to drive the firearms segment in the market during the forecast period.

Americas Hunting Equipment Market Dynamics

The increase in online sales drives market growth, analyzed through market research and growth. Rapid penetration of internet-enabled smartphones fuels e-commerce growth in the Americas, offering a forecast for market forecasting. Hunting equipment providers like BPS Direct LLC offer innovative gear and accessories online as well as hunting apparel, catering to agricultural & farm machinery needs. Hunters play a vital role in wildlife conservation, particularly in North America, where hunting animals is intertwined with socio-economic activity in rural areas, providing jobs for Americans. However, challenges like supply chain disruptions and reliance on offline sales persist. Adapting manufacturing and supply chains is essential for sustained growth in the market.

Key Market Drivers

The growth in online sales significantly fuels market expansion, offering an opportunity for innovative hunting gear and accessories. Across the Americas, internet-enabled smartphones drive the rapid growth of e-commerce. Companies showcase high-quality hunting equipment online, including guns & rifles, bows, knives, and optics. Yet, stringent regulations on hunting practices and concerns for wildlife conservation persist. Despite challenges, the industry's growth is driven by advancements in technology. Market expansion hinges on addressing production and consumption patterns, as well as capitalizing on the market opportunity presented by the safari tourism industry. This underscores the importance of balancing revenue generation with environmental conservation efforts.

Moreover, the advent of online sales and e-commerce in the market enables customers to make better purchase decisions by comparing product features and prices. The growth in logistics infrastructure in developing economies such as Mexico and Argentina will encourage companies to offer products through online platforms. The growing popularity of online sales is expected to boost Americas hunting equipment market growth during the forecast period.

Significant Market Trends

The growing prominence of hunters as conservationists is an emerging trend shaping Americas hunting equipment market growth. Hunters are the key driving force for wildlife conservation activity, especially in North American countries such as the US and Canada. Through several federal and state-level programs in these countries, hunters contribute to funding that supports wildlife conservation and habitat restoration. For instance, the Duck Stamp, formerly known as the Federal Migratory Bird Hunting and Conservation Stamp, is mandatory as a license for waterfowl hunting in the US.

Moreover, roughly 98% of the proceeds generated from Duck Stamp sales are directed towards wildlife conservation and habitat management, by the National Wildlife Refuge System. The increasing prominence of hunters as conservationists is anticipated to positively impact the growth of the market. These factors are projected to fuel market expansion throughout the forecast period. Additionally, the pivotal role of hunters in conservation underscores their significance, further enhancing the market's potential. Furthermore, the allocation of funds towards wildlife preservation highlights the importance of capital goods in sustaining environmental initiatives.

Major Market Challenges

The seasonal nature of hunting activities is a significant challenge hindering market growth. The revenue generated from hunting equipment in the Americas is highly dependent on seasonal sales in the region. Every year, the US, Canada, and Argentina announce open seasons to hunt certain wildlife species in adherence to wildlife conservation laws. Hunting is prohibited during the closed season, and wildlife species require protection from hunting activities for mating or breeding. Open season for hunting varies within countries in the Americas and is dependent on the mating and breeding period.

For instance, in New Hampshire in the US, the open season for wild Turkey generally falls in May, while deer can be hunted from October to December every year. The seasonal fluctuations in hunting activities are expected to impede Americas hunting equipment market growth. These factors are expected to impede Americas hunting equipment market growth during the forecast period. 

Major Hunting Equipment Market Companies in Americas

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. Some of the major companies in the market include:

Academy Sports and Outdoors Inc. - The company offers hunting equipment under brands such as Vortex, Leupold, and Magellan Outdoors. 

The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including Academy Sports and Outdoors Inc., American Outdoor Brands Inc., Barnett Outdoors, BERETTA HOLDING SA, BPS Direct LLC, Buck Knives Inc., Camping World Holdings Inc., Easton Technical Products Inc., FeraDyne Outdoors LLC, Forloh, Lowes Co. Inc., Nielsen Kellerman Co., Scheels, Sportsmans Warehouse Holdings Inc., Spyderco Inc., Sturm Ruger and Co. Inc., TenPoint Crossbow Technologies, Under Armour Inc., Vista Outdoor Inc., and W. L. Gore and Associates Inc.

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. Furthermore, it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

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Market Analyst Overview

The Americas hunting equipment market thrives amidst a backdrop of diverse wildlife-related activities and outdoor recreational pursuits. From forest management to hunting licenses, the industry encompasses a wide array of elements, including high-tech gadgets like GPS devices and classic hunting gear such as binoculars and camouflage clothing. Customers' interests drive demand across segments like gun and rifles, ammunition, and hunting knives, with specialty stores catering to individual needs. However, challenges like regional restrictions and changing consumer preferences necessitate adaptation and innovation. Key trends focus on sustainable and ethical hunting practices, aligning with evolving social and environmental concerns. Amidst changing demographics and economic landscapes, the market continues to evolve, offering both opportunities and challenges for stakeholders across the region.

The hunting market is shaped by various influencing factors. These elements include the sale of hunting licenses, customer demand, and the accessibility of hunting equipment and accessories through online distribution channels. This market caters to the diverse needs of gun users and enthusiasts, with segments such as guns and rifles, ammunition, and specialty stores. Complementary accessories like binoculars, camping equipment, and others enhance the hunting experience. Lead-free ammunition, aligning with sustainable hunting practices, addresses growing social concerns. Demographic shifts, economic impacts, and social issues significantly influence market dynamics, fueled by the popularity of outdoor recreational activities and hunting interests. Regulatory frameworks, including hunting regulations and bag limits, have a substantial impact on the market, alongside climatic conditions and natural disasters. As stakeholders navigate the evolving market landscape, they must address challenges and capitalize on opportunities to effectively meet the demands of hunters and outdoor enthusiasts.

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What are the Key Data Covered in this Americas Hunting Equipment Market Research and Growth Report?

• CAGR of the market during the forecast period 2024-2028
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the market across Americas
• A thorough analysis of the market's competitive landscape and detailed information on companies
• Comprehensive details of factors that will challenge the growth of market companies

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