Product ID: UCMIG25L2020
Report ID:
UCMIG25L2020 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global market for hiking gear and equipment, valued at approximately USD 4.5 billion in 2019, has experienced substantial growth due to a surge in interest among the younger generation, particularly millennials, towards engaging in sporting activities. This growing trend can be attributed to the rising preference for fitness-oriented routines, a penchant for short recreational ventures, and a collective aspiration for healthier lifestyles. This shift in consumer behavior has notably propelled outdoor sports events into the spotlight, consequently fueling the demand for hiking gear and equipment. Furthermore, the expansion of the outdoor recreation sector, driven by evolving demographics, urbanization trends, and an amplified focus on well-being, has further stimulated the market for hiking gear and equipment.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Footwear by segment aggregation, the contribution of the Footwear in Consumer Durables & Apparel and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG25L2020