Hunting Accessories Market to Reach $43.1 Billion, Globally, by 2032 at 7.9% CAGR: Allied Market Research

News provided by

Jul 28, 2023, 10:10 ET

The growing popularity of hunting as a recreational activity across the globe is anticipated to drive the growth of the global hunting accessories market during the forecast period from 2023 to 2032. The North America region is projected to hold a major market share by 2032.

PORTLAND, Ore., July 28, 2023 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Hunting Accessories Market by Type (Hunting Rifles and Guns, Bow and Arrow, Binoculars, Weapon Ammunition, Others), by Game Species (Big Game, Small Game, Migratory Bird, Other Animals), by Sales Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global hunting accessories market generated $20.3 billion in 2022, and is anticipated to generate $43.1 billion by 2032, witnessing a CAGR of 7.9% from 2023 to 2032.

Download Request Sample Copy of the Report: https://www.alliedmarketresearch.com/request-sample/14763

Prime Determinants of Growth

Over the years, there has been growth in the popularity of hunting as a recreational activity across the world. As a result, there has been an increase in demand for hunting accessories which is predicted to be one of the important factors driving the growth of the global hunting accessories market in the forecast timeframe. However, the strict regulations on hunting in various countries to manage wildlife populations and protect endangered species may hamper the hunting accessories market growth in the coming period. On the contrary, the introduction of technologically advanced hunting accessories is expected to offer growth opportunities for expansion of the hunting accessories market in the 2023-2032 forecast period.

Report Coverage & Details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$20.3 billion
Market Size in 2032	$43.1 billion
CAGR	7.9 %
No. of Pages in Report	290
Segments covered	Type, Game Species, Sales Channel, and Region
Drivers	Growing popularity of hunting as a recreational activity Development of innovative products that improve the efficiency and effectiveness of hunting
Opportunities	The introduction of technologically advanced hunting accessories for enhanced performance, increased precision, and improved functionality The advent of e-commerce allowing manufacturers and retailers to target hunting enthusiasts around the world
Restraints	Strict hunting regulations imposed by various governments to manage wildlife populations and protect endangered species

COVID-19 Scenario

The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global hunting accessories market. The manufacturing of hunting accessories was hampered due to disruptions in global supply chains which resulted in an inconsistent supply of raw materials.
Also, the travel restrictions put in place across the world to curb the spread of the virus resulted in a decrease in hunting expeditions, thus leading to a decline in demand for hunting accessories.
The hunting accessories market is, however, projected to show steady growth in the future due to the introduction of technologically advanced hunting accessories for enhanced performance and increased precision.

Procure Complete Report (290 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/e56ad6abb213fa4113d34f4b8e0dc217

Type: Hunting Rifles & Guns Sub-segment Projected to be Highly Dominant During the Forecast Period

The hunting rifles & guns sub-segment accounted for the highest hunting accessories market share in 2022 of 29.2% and is expected to continue its dominance during the forecast period. In the last few years or so, the development of more accurate and efficient firearms has gained a lot of pace. As a result, there is a huge demand for rifles and guns with innovative features, such as improved scopes and adjustable triggers, which is predicted to boost the sub-segment's growth by 2032.

Game Species: Big Game Sub-segment to Flourish Immensely by 2032

The big game sub-segment generated the highest market share in 2022 of 44.6% and is predicted to grow at a high CAGR by 2032. Big game hunting involves pursuit and hunting of large animals like deer, elk, moose, bears, and big cats. The thrill and excitement associated with big game hunting has led to an increase in demand for hunting accessories which is predicted to boost the sub-segment's growth by 2032.

Sales Channel: Offline Sub-segment Projected to Gather Huge Market Revenue During the Forecast Period

The offline sub-segment accounted for the highest hunting accessories market share in 2022 of 65.1% and is expected to continue to hold the majority of market share during the forecast period. Offline retail stores offer a personalized customer experience thus allowing hunters to physically examine and try out products before making a purchase. As a result, there has been an increase in the popularity of offline sales channels which is predicted to boost the sub-segment's growth by 2032.

Region: North America Market to be One of the Fastest Growing by 2032

The North America region accounted for the highest share in the global hunting accessories market in 2022 of 34.8% and is expected to rise at a high CAGR during the forecast period. The rapid increase in popularity of hunting as a recreational activity and rising disposable incomes of the people in this region are expected to be the two main growth drivers of the market in North America region by 2032.

Enquire before buying: https://www.alliedmarketresearch.com/purchase-enquiry/14763

Leading Players in the Hunting Accessories Market:

American Outdoor Brands Corp.
BPS Direct LLC
Vista Outdoor Inc.
Sturm Ruger and Co. Inc.
SPYPOINT
Under Armour, Inc.
Beretta Holding SA
Buck Knives, Inc.
Spyderco, Inc.
Dick's Sporting Goods, Inc.

The report provides a detailed analysis of the key players of the global hunting accessories market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Country Reports We Have in this Industry:

Canada Hunting Accessories Market Opportunity Analysis and Industry Forecast, 2022-2032
Mexico Hunting Accessories Market Opportunity Analysis and Industry Forecast, 2022-2032
Europe Hunting Accessories Market Opportunity Analysis and Industry Forecast, 2022-2032
Russia Hunting Accessories Market Opportunity Analysis and Industry Forecast, 2022-2032
UK Hunting Accessories Market Opportunity Analysis and Industry Forecast, 2022-2032

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/consumer-goods