The global hunting accessories market is anticipated to reach $43.08 billion by 2032, growing from $20.29 billion in 2022 at a CAGR of 7.9% from 2023 to 2032. Hunting accessories refer to various tools, equipment, and gears used by hunters to enhance their hunting experience and improve their chances of success in capturing or killing game animals. These accessories serve specific purposes and can vary depending on the type of hunting and the target species. Optical devices are the type of hunting devices used for long-range observation, allowing hunters to spot game animals from a distance and assess their size, movement, and location.
The rising focus on wildlife conservation is indeed a significant growth driver of the hunting accessories market. Modern hunters are increasingly conscious of ethical considerations and strive to minimize the negative impact on wildlife. Hunting accessories such as scent control products help reduce human scent and increase the chances of a successful hunt while minimizing disturbance to the natural habitat. Furthermore, trail cameras have become popular hunting accessories that allow hunters to observe and monitor wildlife activity without directly disturbing the animals. These cameras help hunters gain valuable insights into animal behavior, population dynamics, and habitat use, supporting wildlife conservation efforts. Moreover, hunting accessories like tree stands provide hunters with elevated vantage points, enhancing safety and increasing the visibility of potential targets. By using tree stands, hunters can reduce the risk of accidents and make more informed decisions about their hunting activities.
However, access to hunting areas can be restricted due to various reasons, such as private ownership, land development, or conservation efforts. When hunters have limited access to suitable hunting grounds, the demand for hunting accessories may be negatively affected. Moreover, many hunting areas are privately owned, and landowners may restrict access to their property for various reasons. They might prioritize their own hunting activities or lease the land exclusively to a limited number of hunters. This limited access can reduce the number of potential customers for hunting accessories. Moreover, the expansion of urban areas and infrastructure development can encroach upon or fragment hunting areas. Therefore, hunters may lose access to previously available grounds, reducing their demand for hunting accessories. In some cases, hunting areas may be restricted to protect wildlife populations or preserve natural habitats. Conservation organizations and government agencies may implement regulations or establish protected areas to ensure the sustainable management of wildlife. While these efforts are crucial for biodiversity conservation, they can limit hunting opportunities, impacting the demand for hunting accessories.
Enthusiasts are constantly seeking new and improved equipment to enhance their hunting experience and creating a steady demand for hunting accessories. Moreover, advancements in technology have led to the development of innovative hunting accessories. As technology continues to evolve, there will be increase in demand for cutting-edge accessories among hunting enthusiasts. Many hunters are passionate about wildlife conservation and ethical hunting practices. This mindset creates an opportunity for hunting accessory manufacturers to develop products that align with these principles, such as eco-friendly gear, non-toxic ammunition, and conservation-focused accessories. Furthermore, the hunting industry can also face challenges such as increasing regulations, ethical concerns, and changing attitudes towards hunting. Manufacturers and retailers in the hunting accessories market need to stay updated with evolving trends, consumer preferences, and regulations to seize the opportunities and address potential challenges in this growing market.
The COVID-19 pandemic had significant impacts on the market for hunting accessories. The pandemic affected global supply chains, leading to disruptions in the manufacturing, distribution, and availability of hunting accessories. Restrictions on international trade, factory closures, and reduced workforce capacity have impacted the production and delivery of these products. Many brick-and-mortar hunting stores faced temporary closures or reduced operating hours due to lockdowns and social distancing measures. This resulted in decreased foot traffic and reduced sales for hunting accessories. However, some businesses were able to adapt by strengthening their online presence and offering e-commerce options.
The key players profiled in this report include American Outdoor Brands Corp., Sturm Ruger and Co. Inc., Beretta Holding SA, Dick’s Sporting Goods, Inc., BPS Direct LLC, SPYPOINT, Buck Knives, Inc., Vista Outdoor Inc., Under Armour, Inc., and Spyderco, Inc. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
The rising focus on wildlife conservation is indeed a significant growth driver of the hunting accessories market. Modern hunters are increasingly conscious of ethical considerations and strive to minimize the negative impact on wildlife. Hunting accessories such as scent control products help reduce human scent and increase the chances of a successful hunt while minimizing disturbance to the natural habitat. Furthermore, trail cameras have become popular hunting accessories that allow hunters to observe and monitor wildlife activity without directly disturbing the animals. These cameras help hunters gain valuable insights into animal behavior, population dynamics, and habitat use, supporting wildlife conservation efforts. Moreover, hunting accessories like tree stands provide hunters with elevated vantage points, enhancing safety and increasing the visibility of potential targets. By using tree stands, hunters can reduce the risk of accidents and make more informed decisions about their hunting activities.
However, access to hunting areas can be restricted due to various reasons, such as private ownership, land development, or conservation efforts. When hunters have limited access to suitable hunting grounds, the demand for hunting accessories may be negatively affected. Moreover, many hunting areas are privately owned, and landowners may restrict access to their property for various reasons. They might prioritize their own hunting activities or lease the land exclusively to a limited number of hunters. This limited access can reduce the number of potential customers for hunting accessories. Moreover, the expansion of urban areas and infrastructure development can encroach upon or fragment hunting areas. Therefore, hunters may lose access to previously available grounds, reducing their demand for hunting accessories. In some cases, hunting areas may be restricted to protect wildlife populations or preserve natural habitats. Conservation organizations and government agencies may implement regulations or establish protected areas to ensure the sustainable management of wildlife. While these efforts are crucial for biodiversity conservation, they can limit hunting opportunities, impacting the demand for hunting accessories.
Enthusiasts are constantly seeking new and improved equipment to enhance their hunting experience and creating a steady demand for hunting accessories. Moreover, advancements in technology have led to the development of innovative hunting accessories. As technology continues to evolve, there will be increase in demand for cutting-edge accessories among hunting enthusiasts. Many hunters are passionate about wildlife conservation and ethical hunting practices. This mindset creates an opportunity for hunting accessory manufacturers to develop products that align with these principles, such as eco-friendly gear, non-toxic ammunition, and conservation-focused accessories. Furthermore, the hunting industry can also face challenges such as increasing regulations, ethical concerns, and changing attitudes towards hunting. Manufacturers and retailers in the hunting accessories market need to stay updated with evolving trends, consumer preferences, and regulations to seize the opportunities and address potential challenges in this growing market.
The COVID-19 pandemic had significant impacts on the market for hunting accessories. The pandemic affected global supply chains, leading to disruptions in the manufacturing, distribution, and availability of hunting accessories. Restrictions on international trade, factory closures, and reduced workforce capacity have impacted the production and delivery of these products. Many brick-and-mortar hunting stores faced temporary closures or reduced operating hours due to lockdowns and social distancing measures. This resulted in decreased foot traffic and reduced sales for hunting accessories. However, some businesses were able to adapt by strengthening their online presence and offering e-commerce options.
The key players profiled in this report include American Outdoor Brands Corp., Sturm Ruger and Co. Inc., Beretta Holding SA, Dick’s Sporting Goods, Inc., BPS Direct LLC, SPYPOINT, Buck Knives, Inc., Vista Outdoor Inc., Under Armour, Inc., and Spyderco, Inc. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hunting accessories market analysis from 2022 to 2032 to identify the prevailing hunting accessories market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hunting accessories market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hunting accessories market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Weapon Ammunition
- Others
- Hunting Rifles and Guns
- Bow and Arrow
- Binoculars
By Game Species
- Big Game
- Small Game
- Migratory Bird
- Other Animals
By Sales Channel
- Online
- Offline
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Norway
- Finland
- Russia
- Germany
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- Chile
- South Africa
- Rest of LAMEA
Key Market Players
- AMERICAN OUTDOOR BRANDS INC.
- Beretta Holding S.A.
- BPS Direct LLC
- Buck Knives, Inc.
- DICK's Sporting Goods
- Spyderco, Inc.
- SPYPOINT
- Sturm, Ruger & Co., Inc.
- Under Armour, Inc.
- Vista Outdoor Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HUNTING ACCESSORIES MARKET, BY TYPE
CHAPTER 5: HUNTING ACCESSORIES MARKET, BY GAME SPECIES
CHAPTER 6: HUNTING ACCESSORIES MARKET, BY SALES CHANNEL
CHAPTER 7: HUNTING ACCESSORIES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the hunting accessories market was valued at $20.3 billion in 2022, and is estimated to reach $43.1 billion by 2032, growing at a CAGR of 7.9% from 2023 to 2032. Hunting accessories refer to various tools, equipment, and gears that are used by hunters to enhance their hunting experience and increase their chances of success. These accessories serve different purposes and are designed to assist hunters in different aspects of their hunting activities. Riflescopes are optical sighting devices mounted on firearms, such as rifles, shotguns, or crossbows. They provide magnification and help hunters aim accurately at their targets, particularly when shooting over longer distances.Rising disposable income levels in many countries have contributed to the increase in demand for leisure activities. With higher disposable income, consumers are more inclined toward participating in hunting activities and purchasing premium hunting accessories that offer superior performance, durability, and features. This includes high-quality optics like riflescopes and binoculars, advanced firearms, precision archery equipment, and specialized clothing and footwear. Manufacturers catering to this demand can capitalize on the growing market for premium hunting gear. Moreover, as disposable income increases, hunters are likely to upgrade their existing hunting equipment to newer and more advanced models. This could involve replacing outdated gear with technologically advanced products that offer better accuracy, range, and overall performance. Upgrading equipment becomes more affordable with higher disposable income, which stimulates market growth.
However, increasing awareness of environmental conservation and sustainability can impact the demand for certain hunting accessories. Furthermore, certain hunting techniques that are considered non-selective or indiscriminate, such as using certain types of traps or snares, can unintentionally harm non-targeted wildlife species. Environmental awareness can drive a preference for hunting methods that minimize accidental harm to non-target species. This may result in decreased demand for accessories associated with non-selective hunting techniques. Hunters who prioritize wildlife conservation and habitat preservation may seek accessories that align with these principles. This could include a preference for equipment that reduces habitat disturbance or accessories that promote ethical and sustainable hunting practices.
Conversely, there may be reduced demand for accessories that are perceived as detrimental to wildlife or their habitats. Environmental concerns can influence the development of wildlife management regulations, including restrictions on certain hunting accessories. For instance, there may be bans or limitations on the use of specific equipment, such as high-capacity magazine clips or certain types of hunting scopes, to ensure fair chase and ethical hunting practices. Such regulations can impact the demand for these accessories.
The growing number of individuals engaging in hunting creates a demand for a wide range of hunting accessories. These accessories include firearms, ammunition, archery equipment, hunting apparel, footwear, optics (such as scopes and binoculars), game calls, decoys, hunting blinds, and various other tools and equipment. Moreover, developing new and improved hunting accessories that cater to the evolving needs and preferences of hunters can attract a larger customer base. This can involve incorporating advanced technologies, improving product functionality, and enhancing durability. Furthermore, emphasizing the use of environmentally friendly materials and manufacturing processes can appeal to the increasing number of environmentally conscious consumers. Promoting sustainable hunting practices and highlighting products that align with ethical hunting can also resonate with this audience. Moreover, establishing a strong online presence and optimizing e-commerce platforms can help reach a wider customer base, including those who may be geographically distant. Providing detailed product information, customer reviews, and convenient purchasing options can enhance the overall customer experience. These factors are anticipated to boost market expansion in the upcoming years.
The hunting accessories market share is segmented on the basis of type, game species sales channel, and region. By type, it is classified into hunting rifles & guns, bow & arrow, binoculars, weapon ammunition, and others. By game species, it is classified into big game, small game, migratory bird, and others. By sales channel, it is classified into online and offline. By region, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America.
The key players profiled in the hunting accessories market report include American Outdoor Brands Corp., Sturm Ruger and Co. Inc., Beretta Holding SA, Dick’s Sporting Goods, Inc., BPS Direct LLC, SPYPOINT, Buck Knives, Inc., Vista Outdoor Inc., Under Armour, Inc., and Spyderco, Inc.
The report offers a comprehensive analysis of the global hunting accessories market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of COVID-19 on the Global Hunting Accessories Industry
The pandemic led to disruptions in global supply chains due to lockdowns, restrictions on international trade, and reduced manufacturing activities. These disruptions affected the production, distribution, and availability of hunting accessories, resulting in potential delays and shortages.Many people experienced financial hardships due to job losses, reduced incomes, and economic uncertainty caused by the pandemic. Therefore, discretionary spending on non-essential items like hunting accessories may have been reduced, leading to a decline in demand.
The closure of non-essential retail stores and social distancing measures implemented to contain the spread of the virus affected the traditional retail sales of hunting accessories. Consumers shifted towards online platforms to make purchases, which is expected to create growth opportunities for several hunting accessories retailers.
Depending on the specific regulations and restrictions imposed in different regions, hunting activities were impacted. Restrictions on travel, group gatherings, and closure of public lands resulted in a decrease in hunting participation, potentially affecting the demand for hunting accessories.
Key Findings of the Study
Based on type, the hunting rifles & guns sub-segment emerged as the global leader in 2022 and the weapon ammunition sub-segment is predicted to show the fastest growth in the upcoming years.Based on game species, the big game sub-segment emerged as the global leader in 2022 and the small game sub-segment is predicted to show the fastest growth in the upcoming years.
Based on sales channel, the offline sub-segment emerged as the global leader in 2022 and the online sub-segment is predicted to show the fastest growth in the upcoming years.
Based on region, North America registered the highest market share in 2022 and Europe is projected to be the fastest growing during the forecast period.
Companies Mentioned
- AMERICAN OUTDOOR BRANDS INC.
- Beretta Holding S.A.
- BPS Direct LLC
- Buck Knives, Inc.
- DICK's Sporting Goods
- Spyderco, Inc.
- SPYPOINT
- Sturm, Ruger & Co., Inc.
- Under Armour, Inc.
- Vista Outdoor Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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