The 54th China International Furniture Fair (Shanghai)
September 11-14, 2024

Shanghai International Home Expo | Camping Equipment Market Size, share & Industry Analysis

2024-06-24 18:55:15

The global camping equipment market size was valued at USD 83.58 billion in 2023 and is projected to grow from USD 89.81 billion in 2024 to USD 172.21 billion by 2032, exhibiting a CAGR of8.48% during the forecast period.

Shanghai International Home Expo got information that Camping equipment are mainly used by trekkers and hikers during travelling and trekking respectively for the purpose of safety and convenience journey. These items include tents, small cooking appliances, ropes, bags and others which are required for any type of trek journey. The growing trend for leisure activities, particularly among the young population is likely to propel the market's size. Moreover, post-pandemic situation has also surged the traveling trend among the consumers, along with augmenting the demand of trekking accessories such as bags, shoes, tents and others and thus contributing to the market's growth. Additionally, market key plavers are also targeting to launch new and attractive travelling products, combined with a smart technology, which as a result drives the growth of camping equipment.

Due to the outbreak of COVlD-19 pandemic, manufacturers faced challenges sourcing raw materials, manufacturing

components, and transporting finished products. These supply chain disruptions affected inventory levels and the availability of camping equipment, potentially impacting product sales and market growth. Besides, with many physical shops temporarily closed, consumers gradually shifted to online platforms to purchase camping equipment therefore, e-commerce platforms and outdoor retailers experienced a surge in online sales as consumers sought to shop safely from the comfort of their homes.

Growing Prevalence of Leisure Activities among the Consumers to drive Product Consumption

Consumers nowadays are actively looking for refreshment and travel exploration, owing to their hectic and busy lifestyle, which spurs the demand for travel kits in the longer span. Furthermore, the growing prevalence of outdoor recreation drives the demand for camping equipment such as tents, sleeping bags, camping stoves, coolers, and other essentials. Many individuals seek out leisure activities that provide opportunities for adventure, exploration, and new experiences. Moreover, leisure activities reduces stress and improves the health of the consumers along with providing personal development and growth in the long run. The escalating popularity of solo and group traveling among the consumers is further enhancing the demand of the trekking equipment market. Moreover, traveling has also become a hobby for most of the youth population, owing to the involvement of travel influencers and hence boosting the travel and tourism market.

Increasing Spending on Recreational Activities to Drive the Market Growth

Shanghai International Home Expo got information that In recent years, consumers are more concerned about their health and fitness which as a result increases their spending portion on travel and recreational events. Moreover, the rising disposable income of the individuals, mainly in developing nations such as India, China, Brazil, France and others has also increased the purchasing parity of the

consumers in those regions and thus supporting the growth of the outdoor equipment industry. For instance, as per the data provided by the Bureau of Economic Analysis, in 2020, predictable outdoor recreation comprised for near about 37.4% of the total U.S. outdoor recreation value added, compared to 30.6% in 2019.


Backpack segment to Dominate Market due to its Significant Usage While Camping

Under product type, the market is segmented into backpacks, sleeping bags, tents, cooking system, furniture, and others. The backpacks segment will hold a significant camping equipment market share in the near future as camping backpacks are very lightweight and convenient for the consumers to carry their belongings from place to place. In recent years, most of the backpacks are designed with different pockets and storage spaces, particularly for electronic devices and charging points to provide maximum accessibility for the users. Moreover, manufacturers are continuously striving to implement new products in terms of backpacks that would provide utmost flexibility and comfort to the consumers and hence, augmenting the demand of the segment in the long run.

The backpack segment is projected to hold a share of 26.22% during the forecast period, owing to the increasing trend for travel and tours among the young population.

Offline Stores' Segment to Dominate Market due to Availability of Branded Products at Hypermarkets

Shanghai International Home Expo got information that Based on the distribution channel, the global market is alienated into offline stores and online stores. The offline store segment is estimated to dominate the market in the near term as offline stores such as supermarkets and hypermarkets and others offer a wide range of products to the consumers to handpick from different set of items. Also, offline channels provide the consumers to endorse the authenticity of the products which in turn increases the demand of the offline segment.

Apart from the offline segment, the online segment is also projected to grow during the forecasting period due to the increasing prevalence of e-commerce in various regions which fosters the segment's growth. The young generation nowadays are increasingly inclined towards purchasing from different online portals including Amazon, Flipkart, ebav, Myntra, and others. Furthermore, the companies in recent times have launched their own e-retaling portals for providing access to their customer with a wide variety of products and hence fostering the segment's growth.

Article source: fortunebusinessinsights

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