Outdoor Gear Market 2018 | Covid19 Impact Analysis | Business Outlook, Growth, Revenue, Trends and Forecasts 2026
The term ‘outdoor gear” primarily comprises apparels such as clothing and footwear and also includes non-apparels such as tents, backpacks, sleeping bags, and other equipment. With the rising focus on health, people from across the world have started concentrating on outdoor activities so as to stay fit. Hence, the demand for outdoor gears has been rising significantly across the globe. The global outdoor gear market is being driven by the rising demand for athleisure wear and growing participation of people in a wide range of sports. Major players in the market are constantly looking for innovative technologies that deliver better performance. The market is expected to expand at a rapid pace during the forecast period, due to growing participation in sports and other outdoor activities.
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Over the last two decades, there has been a significant rise in the rate of participation of people in sports and other fitness and outdoor activities. With rise in the number of sports events, the demand for outdoor gears is likely to increase in the near future. This is likely to boost the production of outdoor gear in the next few years. Moreover, growing inclination of people toward various fitness activities leads to their involvement in a wide range of personal training activities. One of the most accepted technologies incorporated into training clothes, shoes, and socks is the compression technology.
Moreover, rise in the disposable income, changing lifestyle, and increasing urbanization in developing countries have led to increased demand for outdoor gears. Emerging middle class in developing countries is comfort seeking. This factor is likely to fuel the outdoor gear market, particularly in China, India, and Sub-Saharan Africa.
The global outdoor gear market can be segmented based on product, application, end-use, distribution channel, and geography. In terms of product, the outdoor gear market can be classified into apparel and non-apparel. The apparels segment can be sub-segmented into clothing and footwear. The non-apparels segment can be sub-divided into equipment and accessories. The apparels segment is expected to dominate the global outdoor gear market, both in terms of value and volume, during the forecast period. Based on application, the outdoor gear market can be segregated into sports, camping, hiking & trekking, and others. In terms of end-use, the outdoor gear market can be classified into men, women, and children. Based on distribution channel, the market can be bifurcated into online and offline channels. The offline channels segment can be sub-divided into supermarkets & hypermarkets, specialty stores, departmental stores, and others. Based on geography, the global outdoor gear market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America dominates the global outdoor gear market, followed by Europe and Asia Pacific. North America would continue its dominance during the forecast period, owing to remarkable popularity of sports and other outdoor activities in the U.S. On the other hand, the outdoor gear market Asia Pacific is likely to register the maximum growth rate during the forecast period.
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The global outdoor gear market is competitive. It is characterized by the presence of well-established international brands along with certain local vendors. Vendors operating in the market offer customizable athletic shoes and casual sports shoes. Factors such as development of new products and introduction of several advanced technologies would intensify the level of competition among market players in the near future.
Key players operating in the global outdoor gear market are Nike Inc., Adidas, Under Armour, Kering (Puma), Under Armour, ASICS Corporation, Fitbit, Garmin, Skechers USA, Apollo Sports USA, Columbia Sportswear Company, VF Corporation, Beuchat International, British Knights, Billabong, Body Glove, Dive Rite, Berkshire Hathaway, Johnson Outdoors, Mares, and Sherwood Scuba, NEWTON RUNNING, Amer Sports, The Rockport Group, and Wolverine World Wide.
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