Archery Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Archery Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global archery equipment market size reached US$ 3.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.

Archery equipment refers to gears and tools used for shooting a target from a distancewhile performing archery. It includes bows, arrows, quivers, bracers, bow stands, stringers, finger tabs, and targets. Amongst these, a bow is a long and flexible staff attached to a string, while an arrow is a slender shaft with feather-like vanes positioned against the bowstring. Additionally, a bow stringer helps in stringing and unstringing the bow, and the finger tab is used to protect the fingers while aligning and pulling the string.

Archery Equipment Market Trends:

The increasing awareness among individuals about the benefits of playing archery, such as improved focus, hand-eye coordination, and enhanced upper body strength, represents one of the key factors positively influencing the market. In addition, rising preferences for archery as a recreational sport, especially among the millennial population,are catalyzing the demand for archery equipment across the globe. Along with this, significant improvements in sports infrastructure on a global level are creating a positive outlook for the market. Additionally, governments of various countries are introducing numerous policies and programs to promote archery as a professional sport and increase public participation, which is offering a favorable market outlook. This, in confluence with increasing promotional activities by manufacturers and the proliferation of online retail platforms offering easy product accessibility with various deals and discounts, is bolstering the market growth. Moreover, the expansion of sports clubs and gaming zones, along with the availability of advanced training facilities for archers, is expected to propel market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global archery equipment market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, end user and distribution channel.

Breakup by Product:

Bows and Bow Accessories
Arrows
Others

Breakup by End User:

Individual Consumer
Clubs and Gaming Zones
Sports Organizers

Breakup by Distribution Channel:

Speciality and Sports Shops
Departmental and Discount Stores
Online Stores
Others

Breakup by Region:

North America

United States
Canada

Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Bear Archery, Inc., Crossman Corporation, Easton Technical Products, Inc., Gold Tip LLC, Mathews Archery, Inc., New Archery Products, Inc., Precision Shooting Equipment, Inc., The Outdoor Group LLC, and The Bohning Company.

Key Questions Answered in This Report:

What was the size of the global archery equipment market in 2022?

What is the expected growth rate of the global archery equipment market during 2023-2028?

What are the key factors driving the global archery equipment market?

What has been the impact of COVID-19 on the global archery equipment market?

What is the breakup of the global archery equipment market based on the product?

What is the breakup of the global archery equipment market based on the end user?

What is the breakup of the global archery equipment market based on the distribution channel?

What are the key regions in the global archery equipment market?

Who are the key players/companies in the global archery equipment market?