Sports Optic Market
Growth Factors of Sports Optic Market
The sports optic market size was valued at USD 2.07 billion in 2023, and the market is now projected to grow from USD 2.12 billion in 2024 to USD 3.08 billion by 2032, exhibiting a CAGR of 4.77% during the forecast period of 2024-2032.
Due to restriction measures put in place across various governments to contain the spread of COVID-19, especially by limiting travel and tourism spending on outdoor sporting goods has witnessed a decline. Measures such as restrictions on the circulation of the products led to minimal product revenues worldwide. Also, the global availability of disposable income contracted and the overall prevalence of health issues negatively affected the sports optic market growth. This downtrend impacted not only the demand side but the supply side as well, therefore acting as a drag on the recovery process. The lockdown due to the outbreak of the pandemic saw reduced progress in the overall market activity.
Governments are expanding the sporting and tourism structures to increase the sports optic market share of the market demand improvement on the product. For instance, in December 2020, the investment made by China’s NDRC in public sports projects was USD 450 million. Because of such strategies, the general revenues should increase alongside the advertisements by the market players. This sort of support enables market continuity and also enhances the customer base.
Moreover, new products have been released often featuring high-resolution scopes and improved sports optics thus appealing to new buyers in the market. This expansion is well-founded by the availability of premium, feature-rich products such as autofocus and night vision among others. Marketing campaigns and sports events are also important in increasing sales since they target various consumers. Consequently, technology in binoculars and scopes improves user satisfaction making them suitable for countless applications. These are some of the factors that are essential in driving growth in the expansion of the global market.
Comprehensive Analysis of Sports Optic Market
The segmentation of the sports optic market and consumer goods industry is rapidly increasing at an exponential rate. This market expansion may be considered a comprehensive regional appraisal of supply and demand trends in the sphere of the retailing industry. These segmentations are very categorically separated by product types, by games and by the distribution channels. The product types include, Riflescopes, Rangefinders, Binoculars and Field Scopes. The games include, Hunting & Shooting, Snow Sports, Water Sports, Golf and Others. The distribution channels include, Online and Offline.
North America is the largest market and its market size stood at USD 0.76 billion in 2023 with the most spending in the U. S. and Canada particularly in sporting equipment. The U.S. sporting goods store sales reached USD 6,051 million in July 2021 to show a continuous trend of demand. Development in the outdoor leisure market and the adoption of LCD and hands-free binoculars contribute to this market's regional growth. Also, an increase in the popularity of hunting sports in places such as Washington and Michigan boosts the application of the associated products. Higher certifications in hunter safety also contribute to this trend.
The leading industry players are significant in the sports optic market for developing industrial prospects. These players include, Nikon Corporation (Tokyo, Japan), Carl-Zeiss Stiftung (Stuttgart, Germany), Swarovski AG (Absam, Austria), Celestron LLC (California, U.S.), MEOPTA-OPTIKA (S.R.O.) (Prerov, Czech Republic), Barska (Ponoma, U.S.), GPO GmbH (Ammersee, Germany), Fat Birder (Kent, U.K.), Leica Camera AG (Wetzler, Germany), The Vanguard Group Inc. (Pennsylvania, U.S.), Safilo S.p.A. (Veneto, Italy) and Vista Outdoor Operations LLC (Minnesota, U.S.). These market players offer a level-playing competitive environment to various market players.
In August 2023, The first store by Fujifilm Corporation, titled the Fujifilm X Space, was launched in New Delhi, India. Dabboo Ratnani, the Indian photographer, was there along with the management of FUJIFILM India for this launch event.
Segmentation Table
Global Sports Optic Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 4.77% from 2024 to 2032
Historical Period 2019-2022
Unit Value (USD Billion)
Segmentation By Product Type, Games, Distribution Channel, and Region
By Product Type - Riflescopes
- Rangefinders
- Binoculars
- Field Scopes
By Games - Hunting & Shooting
- Snow Sports
- Water Sports
- Golf
- Others
By Distribution Channel - Online
- Offline
By Region - North America (By Product Type, Games, Distribution Channel, and Country)
- U.S. (By Product Type)
- Canada (By Product Type)
- Mexico (By Product Type)
- Germany (By Product Type)
- France (By Product Type)
- Italy (By Product Type)
- Spain (By Product Type)
- U.K. (By Product Type)
- Rest of Europe (By Product Type)
- China (By Product Type)
- India (By Product Type)
- Japan (By Product Type)
- Australia (By Product Type)
- Rest of Asia Pacific (By Product Type)
- Brazil (By Product Type)
- Argentina (By Product Type)
- Rest of South America (By Product Type)
- UAE (By Product Type)
- South Africa (By Product Type)
- Rest of Middle East & Africa (By Product Type)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 4.6. Insights on Impact of COVID-19 on Global Eco Fiber Market
- 5. Global Eco Fiber Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. By Type (Volume/Value)
- 5.2.1. Organic Fibers
- 5.2.2. Recycled Fiber
- 5.2.3. Regenrated Fiber
- 5.2.4. Others
- 5.3. By Application (Volume/Value)
- 5.3.1. Clothings/Textile
- 5.3.2. Household & Furnishings
- 5.3.3. Industrial
- 5.3.4. Medical
- 5.3.5. Others
- 5.4. By Region (Volume/Value)
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America
- 5.4.5. Middle East & Africa
- 6. North America Eco Fiber Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. By Type (Volume/Value)
- 6.2.1. Organic Fibers
- 6.2.2. Recycled Fiber
- 6.2.3. Regenrated Fiber
- 6.2.4. Others
- 6.3. By Application (Volume/Value)
- 6.3.1. Clothings/Textile
- 6.3.2. Household & Furnishings
- 6.3.3. Industrial
- 6.3.4. Medical
- 6.3.5. Others
- 6.4. By Country (Volume/Value)
- 6.4.1. U.S.
- 6.4.1.1. By Type (Volume/Value)
- 6.4.1.1.1. Organic Fibers
- 6.4.1.1.2. Recycled Fiber
- 6.4.1.1.3. Regenrated Fiber
- 6.4.1.1.4. Others
- 6.4.2. Canada
- 6.4.2.1. By Type (Volume/Value)
- 6.4.2.1.1. Organic Fibers
- 6.4.2.1.2. Recycled Fiber
- 6.4.2.1.3. Regenrated Fiber
- 6.4.2.1.4. Others
- 7. Europe Eco Fiber Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. By Type (Volume/Value)
- 7.2.1. Organic Fibers
- 7.2.2. Recycled Fiber
- 7.2.3. Regenrated Fiber
- 7.2.4. Others
- 7.3. By Application (Volume/Value)
- 7.3.1. Clothings/Textile
- 7.3.2. Household & Furnishings
- 7.3.3. Industrial
- 7.3.4. Medical
- 7.3.5. Others
- 7.4. By Country (Volume/Value)
- 7.4.1. Germany
- 7.4.1.1. By Type (Volume/Value)
- 7.4.1.1.1. Organic Fibers
- 7.4.1.1.2. Recycled Fiber
- 7.4.1.1.3. Regenrated Fiber
- 7.4.1.1.4. Others
- 7.4.2. France
- 7.4.2.1. By Type (Volume/Value)
- 7.4.2.1.1. Organic Fibers
- 7.4.2.1.2. Recycled Fiber
- 7.4.2.1.3. Regenrated Fiber
- 7.4.2.1.4. Others
- 7.4.3. UK
- 7.4.3.1. By Type (Volume/Value)
- 7.4.3.1.1. Organic Fibers
- 7.4.3.1.2. Recycled Fiber
- 7.4.3.1.3. Regenrated Fiber
- 7.4.3.1.4. Others
- 7.4.4. Turkey
- 7.4.4.1. By Type (Volume/Value)
- 7.4.4.1.1. Organic Fibers
- 7.4.4.1.2. Recycled Fiber
- 7.4.4.1.3. Regenrated Fiber
- 7.4.4.1.4. Others
- 7.4.5. Rest of Europe
- 7.4.5.1. By Type (Volume/Value)
- 7.4.5.1.1. Organic Fibers
- 7.4.5.1.2. Recycled Fiber
- 7.4.5.1.3. Regenrated Fiber
- 7.4.5.1.4. Others
- 8. Asia-Pacific Eco Fiber Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. By Type (Volume/Value)
- 8.2.1. Organic Fibers
- 8.2.2. Recycled Fiber
- 8.2.3. Regenrated Fiber
- 8.2.4. Others
- 8.3. By Application (Volume/Value)
- 8.3.1. Clothings/Textile
- 8.3.2. Household & Furnishings
- 8.3.3. Industrial
- 8.3.4. Medical
- 8.3.5. Others
- 8.4. By Country (Volume/Value)
- 8.4.1. China
- 8.4.1.1. By Type (Volume/Value)
- 8.4.1.1.1. Organic Fibers
- 8.4.1.1.2. Recycled Fiber
- 8.4.1.1.3. Regenrated Fiber
- 8.4.1.1.4. Others
- 8.4.2. India
- 8.4.2.1. By Type (Volume/Value)
- 8.4.2.1.1. Organic Fibers
- 8.4.2.1.2. Recycled Fiber
- 8.4.2.1.3. Regenrated Fiber
- 8.4.2.1.4. Others
- 8.4.3. Japan
- 8.4.3.1. By Type (Volume/Value)
- 8.4.3.1.1. Organic Fibers
- 8.4.3.1.2. Recycled Fiber
- 8.4.3.1.3. Regenrated Fiber
- 8.4.3.1.4. Others
- 8.4.4. Rest of Asia Pacific
- 8.4.4.1. By Type (Volume/Value)
- 8.4.4.1.1. Organic Fibers
- 8.4.4.1.2. Recycled Fiber
- 8.4.4.1.3. Regenrated Fiber
- 8.4.4.1.4. Others
- 9. Latin America Eco Fiber Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. By Type (Volume/Value)
- 9.2.1. Organic Fibers
- 9.2.2. Recycled Fiber
- 9.2.3. Regenrated Fiber
- 9.2.4. Others
- 9.3. By Application (Volume/Value)
- 9.3.1. Clothings/Textile
- 9.3.2. Household & Furnishings
- 9.3.3. Industrial
- 9.3.4. Medical
- 9.3.5. Others
- 9.4. By Country (Volume/Value)
- 9.4.1. Brazil
- 9.4.1.1. By Type (Volume/Value)
- 9.4.1.1.1. Organic Fibers
- 9.4.1.1.2. Recycled Fiber
- 9.4.1.1.3. Regenrated Fiber
- 9.4.1.1.4. Others
- 9.4.2. Rest of Latin America
- 9.4.2.1. By Type (Volume/Value)
- 9.4.2.1.1. Organic Fibers
- 9.4.2.1.2. Recycled Fiber
- 9.4.2.1.3. Regenrated Fiber
- 9.4.2.1.4. Others
- 10. Middle East & Africa Eco Fiber Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. By Type (Volume/Value)
- 10.2.1. Organic Fibers
- 10.2.2. Recycled Fiber
- 10.2.3. Regenrated Fiber
- 10.2.4. Others
- 10.3. By Application (Volume/Value)
- 10.3.1. Clothings/Textile
- 10.3.2. Household & Furnishings
- 10.3.3. Industrial
- 10.3.4. Medical
- 10.3.5. Others
- 10.4. By Country (Volume/Value)
- 10.4.1. South Africa
- 10.4.1.1. By Type (Volume/Value)
- 10.4.1.1.1. Organic Fibers
- 10.4.1.1.2. Recycled Fiber
- 10.4.1.1.3. Regenrated Fiber
- 10.4.1.1.4. Others
- 10.4.2. Rest of Middle East & Africa
- 10.4.2.1. By Type (Volume/Value)
- 10.4.2.1.1. Organic Fibers
- 10.4.2.1.2. Recycled Fiber
- 10.4.2.1.3. Regenrated Fiber
- 10.4.2.1.4. Others
- 11. Company Profiles
- 11.1. Lenzing AG
- 11.1.1. Overview
- 11.1.2. Description
- 11.1.3. Product Portfolio
- 11.1.4. Financials (Data as available in public domain and/or on paid databases)
- 11.1.5. Recent Developments
- 11.2. US Fibers
- 11.2.1. Overview
- 11.2.2. Description
- 11.2.3. Product Portfolio
- 11.2.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.5. Recent Developments
- 11.3. Polyfibre Industries
- 11.3.1. Overview
- 11.3.2. Description
- 11.3.3. Product Portfolio
- 11.3.4. Financials (Data as available in public domain and/or on paid databases)
- 11.3.5. Recent Developments
- 11.4. Grasim Industries Ltd.
- 11.4.1. Overview
- 11.4.2. Description
- 11.4.3. Product Portfolio
- 11.4.4. Financials (Data as available in public domain and/or on paid databases)
- 11.4.5. Recent Developments
- 11.5. Shanghai Tenbro Bamboo Textile Co.Ltd.
- 11.5.1. Overview
- 11.5.2. Description
- 11.5.3. Product Portfolio
- 11.5.4. Financials (Data as available in public domain and/or on paid databases)
- 11.5.5. Recent Developments
- 11.6. China Bambro Textile (Group) Co., Ltd.
- 11.6.1. Overview
- 11.6.2. Description
- 11.6.3. Product Portfolio
- 11.6.4. Financials (Data as available in public domain and/or on paid databases)
- 11.6.5. Recent Developments
- 11.7. Pilipinas Ecofiber Corporation
- 11.7.1. Overview
- 11.7.2. Description
- 11.7.3. Product Portfolio
- 11.7.4. Financials (Data as available in public domain and/or on paid databases)
- 11.7.5. Recent Developments
- 11.8. Teijin Limited
- 11.8.1. Overview
- 11.8.2. Description
- 11.8.3. Product Portfolio
- 11.8.4. Financials (Data as available in public domain and/or on paid databases)
- 11.8.5. Recent Developments
- 11.9. Foss Performance Materials
- 11.9.1. Overview
- 11.9.2. Description
- 11.9.3. Product Portfolio
- 11.9.4. Financials (Data as available in public domain and/or on paid databases)
- 11.9.5. Recent Developments
- 11.10. David C. Poole Company, Inc.
- 11.10.1. Overview
- 11.10.2. Description
- 11.10.3. Product Portfolio
- 11.10.4. Financials (Data as available in public domain and/or on paid databases)
- 11.10.5. Recent Developments
- 11.11. Other Key Players
- 11.11.1. Overview
- 11.11.2. Description
- 11.11.3. Product Portfolio
- 11.11.4. Financials (Data as available in public domain and/or on paid databases)
- 11.11.5. Recent Developments
- 12. Strategic Recommendations
Research Assistance
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