The Hammocks Market size is set to grow by USD 921.91 million from 2022 to 2027, Increasing participation in outdoor recreational activities to boost market growth, Technavio

NEW YORK, March 20, 2024 /PRNewswire/ -- The hammocks market size is estimated to grow by USD 921.91 million from 2022 to 2027, growing at a CAGR of 17.9%, according to Technavio. Enjoying outdoor recreational activities is on the rise worldwide, driven by our busy lifestyles and a growing focus on health. More people are seeking ways to unwind and stay active, especially in places like Europe and North America. This trend has sparked a surge in interest in outdoor sports and adventures. Urbanization has also played a role, as folks crave time in nature. Plus, technology is bringing us versatile gear for all kinds of outdoor fun. Expect camping and other adventure activities to keep gaining popularity in the coming years.

For Comprehensive details on the market size of the historic period(2017 to 2021) and forecast period (2023-2027) - View the Sample report

Key Companies
The hammocks market report includes information on the product launches, sustainability, and prospects of leading vendors including ATC Furniture, Bamboo Village Co. Ltd., Best Choice Products Inc., Dalian De Sheng Camping Tourist Products Co. Ltd., Eagles Nest Outfitters Inc., Foxelli, GrandTrunk, INCA Hammock Manufacturing and Export Pvt. Ltd., Kammok, KW Hammock Co., LA SIESTA GmbH, LIAONING LUCKY JOHNNY TRADING Co. Ltd., Maurjen Pty Ltd., Outdoor Camping LLC, Pawleysislandhammocks.com LLC, Second May International, Snow Joe LLC, Vivere Ltd., Winner Outfitters, and Yukon Outfitters.

The hammocks market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. 

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Uncertainty in the prices of raw materials challenges the growth.

The rising prices of high-quality raw materials contribute to the overall increase in manufacturing costs for hammocks. Recent hikes in commodity prices and the scarcity of raw materials have resulted in a negative impact on the profit margins of hammock manufacturers. Factors such as the prices of synthetic fibers like polypropylene and polyamide have also experienced an increase in prices. Therefore, the rising prices are expected to pose challenges to market growth during the forecast period.

• The rising focus of vendors on comfort-enhancing products is an emerging trend shaping the market.

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North America is estimated to contribute 31% to the growth of the market during the forecast period. The practice of purchasing and carrying hammocks is widely used by millennials. They are using hammocks while traveling or camping, especially college and university goers who are also using these at their university campuses. Nylon hammocks are considered lightweight, and they can be easily rolled into a small pouch while traveling. Furthermore, rain tarps, under-slings for gear, bug nets, and small battery-operated lanterns to hang are other additional features that come in the market. As a result, these hammocks are the best substitutes for sleeping bags and mats that are mostly carried on camping trips and picnics.

Market Segmentation

The market is segmented by material (nylon hammocks, rope hammocks, canvas hammocks, and others), type (Hammock chairs, Mayan hammocks, Brazilian hammocks, Nicaraguan hammocks, and Venezuelan hammocks), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).

• The market share growth in the nylon hammocks segment will be significant during the forecast period. The various features this type of hammock provides are dries easily, is lightweight, is convenient to set up and wrap, and offers better strength than other sling hammocks in terms of the fabric that is used. They can also be folded or wrapped up and can be packed into any small space available while camping. In addition, they are more easily available than other variants and are very less priced. Furthermore, hammocks can be easily set up with the push of a button as they are available in a tent shape. They are made of nylon fiber which allows them to hold high pressure while opening the hammock. Hence, these factors are expected to drive the growth of the market during the forecast period.

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Analyst Review

The global hammocks market is experiencing a significant surge, driven by a confluence of factors including rapid urbanization, rising income per capita, and a boom in demand for housing space. As more individuals seek premium and luxury outdoor experiences, the need for high-quality hammocks as part of home decors and furnishings has intensified.

Fabric rope, particularly cotton and parachute silks, dominate the hammock industry, offering long-lasting durability, high comfort, tear resistance, breathability, and water resistance. These qualities make hammocks suitable for various environments, including dangerous ones prone to rainfall and thunderstorms, as well as camping tents and outdoor tourism destinations.

The constituents of the global hammocks market include a diverse range of players, from domestic manufacturers to international brands. Product development and innovation are key drivers in this highly fragmented market, with companies like REI, Lazy Daze Hammocks, and Wise Owl Outfitters leading the charge.

Recent trends indicate a growing interest in hammock-related accessories such as hammock chairs and stands, catering to both residential and commercial sectors. Retailers are capitalizing on this trend by expanding their outdoor equipment offerings, tapping into new business opportunities spurred by adventure tourism and outdoor campaigns.

In response to changing consumer behaviors, some companies are innovating with hammock-like "sofa" designs, integrating TV technology to cater to watching behaviors in outdoor settings. Brands like Bliss Hammocks are pioneering these developments, catering to a market hungry for unique outdoor experiences.

The global hammocks market is further fueled by increasing disposable income and the desire for relaxation in beautiful places, from backyard yards to apartment balconies. With a diverse range of materials such as polypropylene, nylon, and canvas, manufacturers like Foxelli and Winner Outfitters are meeting the demand for hammocks tailored to different preferences and environments.

In summary, the hammocks market is thriving, driven by a combination of factors including urbanization, income growth, and changing consumer preferences. As the industry continues to evolve, innovation and product diversification will remain key strategies for capturing market share in both domestic and international markets.

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Market Overview

The Hammocks Market is witnessing robust growth driven by key factors such as rapid urbanization, rising income per capita, and a surge in demand for housing space. Fabric rope hammocks, particularly those made from cotton or parachutised silks, are experiencing increased popularity. With consumers seeking premium and luxury options for home decor and furnishings, there's a notable uptick in the demand for hammocks and additional accessories. This trend is further fueled by the renovation and design process prevalent in the real estate sector. As urban dwellers embrace outdoor relaxation spaces, the hammocks market is poised for sustained expansion, catering to the evolving needs of modern lifestyles.

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Related Reports

The camping equipment market is estimated to grow at a CAGR of 7.06% between 2022 and 2027. The market size is forecasted to increase by USD 6,697.92 million. Furthermore, this report extensively covers market segmentation by distribution channel (offline and online), product (camping furniture, camping backpacks, tents, cooking systems, cookware, and camping gear and accessories), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The rise in disposable incomes leading to increased spending on leisure activities is a key factor driving the market growth during the forecast period.

The global athleisure market size is estimated to grow by USD 176.16 billion at a CAGR of 7.15% between 2022 and 2027. Furthermore, this report extensively covers market segmentation by product (mass athleisure and premium athleisure), distribution Channel (online and offline), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The increasing adoption of fitness initiatives by corporates is a key factor driving the market growth during the forecast period.

Table of Contents

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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