Global Hiking Gear and Equipment Market - Forecasts from 2023 to 2028

Global Hiking Gear and Equipment Market - Forecasts from 2023 to 2028

The global hiking gear and equipment market was valued at US$23.684 billion in 2021. The increasing demand for sports activities among the younger population, particularly millennials, is significantly driving the demand for hiking gear and equipment. Rising disposable incomes are also supporting this demand for recreational and sporting activities. There has been a rising inclination towards fitness regimes and healthy lifestyles among people, which is making outdoor sports events more attractive. The growing prevalence of obesity and other related chronic diseases is encouraging people to opt for short recreational activities and hiking trips in order to stay fit. As a result, the demand for hiking gear and equipment is witnessing a tremendous rise worldwide. The growing impact of social media trends is also contributing to the market growth of hiking gear and equipment. Even market players are using social media platforms to trigger their sales, thus positively impacting the market growth of hiking gear and equipment.

Increasing consumer attraction towards different outdoor sports and adventures is further spurring the demand for different hiking gear and equipment. Another major driver of the global hiking gear and equipment market is the booming travel and tourism industry. An increasing number of people are traveling more to hike and trek places owing to the rising trend of adventure tourism. Furthermore, governments in those countries are also taking several initiatives and policies in order to boost the number of international tourists. For example, in June 2018, the Indian Tourism Ministry launched guidelines on adventure tourism in the country. The guidelines, formulated in collaboration with the Adventure Tour Operators Association of India (ATOAI), ensure the safety of the people which will make India a well-equipped destination for international tourists. In September 2019, the Canadian government announced funding of more than $11 million, through the Canadian Experiences Fund (CEF), to support 65 tourism projects across Western Canada.

Market players are also diversifying their product portfolios in order to match up with the continuously changing demands of consumers. Moreover, vendors of hiking gear and equipment are also engaged in various growth strategies such as investments, expansion of production facilities, and partnerships so as to increase their customer base, which will continue to bolster the global market growth of hiking gear and equipment during the forecast period.

However, the recent pandemic outbreak caused by the novel COVID-19 has severely impacted the hiking gear and equipment market in 2020. With the temporary ban on travel, there has been a drastic decline in the number of adventure tourists in different regions. However, governments of various countries are stepping forward to support the travel and tourism industry. For example, France has recently announced a $19.4 billion rescue plan to help its tourism industry through the coronavirus crisis that has shuttered restaurants and hotels in one of the most prominent tourist destinations in the world. As such, the negative impact of the coronavirus will be felt only in the short term.

The global hiking gear and equipment market has been segmented on the basis of product type, end-user, sales channel, and geography. By product type, the global hiking gear and equipment market has been segmented into clothing, footwear, equipment, and accessories. By end-user, the market has been segmented by end-user as men, women, and kids. The global baby wipes market has also been segmented by sales channels such as online and offline.

Rising sales of hiking gear and equipment via online channel

The online segment will witness a decent CAGR during the forecast period owing to the ease of shopping for various hiking gear and equipment through online stores at affordable discounted rates. However, the offline segment will continue to dominate the global hiking gear and equipment market on account of the growing presence of sports retail outlets across different regions. Moreover, shopping from offline stores allows customers to benefit from salesperson service and get more knowledge about which product would be the best as per their requirements.

North America has a significant regional market

Geographically, the global hiking gear and equipment market has been segmented into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. Due to the high rate of participation of people in outdoor sports and activities in countries like the U.S. and Canada, North America holds a significant share of the global hiking gear and equipment market. Rising construction activities related to hiking trails in the U.S. are leading to a further increase in the number of hikers, thus positively impacting the growth of this regional market during the forecast period. The number of trail permits issued by the Pacific Crest Trail Association, which runs from Mexico to Canada, has increased from 1,879 in 2013 to 7,313 in 2018. According to the Appalachian Trail Conservancy (ATC), the number of hikers setting out from Georgia to Maine increased to 3,735 in 2017 from 1,460 in 2010.

The Asia Pacific regional market for hiking gear and equipment is projected to witness a substantial CAGR during the forecast period due to the rising adoption of outdoor sports and recreational activities in countries like India, China, and Australia. The rising influx of international tourists is also boosting the demand for many outdoor activities in the region, thereby further accelerating the market growth of hiking gear and equipment.

Market Developments:

January 2019: Callway Golf Company completed the acquisition of Jack Wolfskin, an international premium outdoor apparel, footwear, and equipment brand, for approximately $476 million.
March 2020: MEC opened its highly anticipated new Vancouver 33,000-square-foot flagship store located in Olympic Village at 111 East 2nd Avenue.
January 2020: Arc’teryx, the Canadian brand of outdoor apparel, launches its first 2,104 square-foot lifestyle-focused stores in Burnaby, B.C.
May 2020: A leading online outdoor retailer, Moosejaw, collaborated with Walmart and introduced two inclusivity-focused gear and clothing lines- Lithic and Allforth- offering high-performance and quality hiking gear and equipment at affordable prices.
In May 2020, Walmart announced the launch of Lithic, a brand of camping gear that is up to 40% less expensive than comparable items on the market. Additionally, the brand is also introducing Allforth, a brand of backpacking-oriented outdoor wear with prices ranging from $15 to $35 and larger sizes that had a soft launch last fall
In May 2021, Rab, a renowned British brand known for developing mountain basics like jackets, base layers, and sleeping bags, expanded its adventure gear lineup by introducing a range of packs. It sees itself as a brand that can deliver packs that fulfil a wide range of demands while complementing its garment offerings.
In May 2022, Jackery, the leader in revolutionary portable power and eco-friendly outdoor energy solutions, unveiled its most powerful solar generator ever. The future flagship redefines the usage of clean energy by delivering maximum capacity and outstanding quick solar recharging in a user-friendly form, empowering campers to pack up and travel anywhere.

Competitive Insights

Marmot Mountain LLC, THE NORTH FACE, A VF COMPANY, Black Diamond Equipment, Ltd, Columbia Sportswear Company, Fenix Outdoor International AG, Yeti Holding Inc., Decathlon S.A, Wildcraft, SALOMON International, Callaway Golf Company (Jack Wolfskin), Anta Sports (Arc'teryx) are among the prominent key market players in the Global Hiking Gear and Equipment market. These companies hold a noteworthy share of the market on account of their good brand image and product offerings. Major players in the global hiking gear and equipment market have been covered along with their relative competitive positions and strategies. The report also mentions recent deals and investments by different market players over the last two years.

Market Segmentation:

By Product Type
Clothing
Footwear
Backpack
Equipment
Accessories

By End-User

Men
Women
Kids

By Sales Channel
Online
Offline

By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
Austria
Switzerland
France
Spain
Italy
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Indonesia
Philippines
Australia
Others