Hiking Accessories Market Research, 2032
The global hiking accessories market size was valued at $26.5 billion in 2022, and is projected to reach $49.8 billion by 2032, growing at a CAGR of 6.7% from 2023 to 2032.With the provision of comfort, security, and convenience, hiking accessories add value to outdoor experiences. A good backpack with multiple compartments, a hydration system or water bottle, moisture-wicking clothing, sturdy hiking boots, and UV-protective sunglasses are among the must-haves. Safe travel is ensured using navigation tools like maps, compasses, and GPS. Appropriate weather gear, such as a waterproof jacket or hat, is essential. Safety is enhanced by the compact First Aid Kit, multitool, and headlamp. Stability is provided by the trekking poles, while a portable stove and lighter cooking equipment help to prepare meals. Finally, a camera and binoculars add enjoyment, capturing memories and appreciating the beauty of nature on the trail.
MARKET DYNAMICS
Dynamic shifts are taking place in the market for hiking accessories due to various factors that take account of changing needs and preferences among outdoor adventurers. There are several factors, including technological progress, changing consumer behavior, environmental considerations, and the influence of social media, that contribute to this dynamic.
Technological developments have a key role to play in shaping the hiking accessories market. The development of more durable, lightweight, and flexible products is supported by technological innovations in materials, design, and function. For example, the performance of hiking gear is enhanced using advanced materials such as GoreTex for waterproofing and moisture management or using high-technology fabrics with insulation and breathability. Moreover, hikers are becoming more attracted to smart technologies such as GPS-enabled devices, fitness trackers, or solar-powered chargers that provide them with improved security and convenience in their outdoor adventures.
The market for hiking accessories has also been significantly affected by changes in consumer behavior. The demand for hiking gear is increasing steadily as more and more people seek active, outdoor experiences. The market has responded with products that cater to diverse demographics, including families, solo travelers, and adventure seekers. In line with modern consumers' preference for convenience and efficiency in their outdoor activities, lighter and compact accessories facilitating easy portability and storage have become increasingly popular.
The product development and choice of consumer products in the hiking accessories market are being driven by an increasing concern about the environment. The use of sustainable materials and environmentally responsible production practices is gaining traction. Products that are in line with the values of minimizing environmental impact are increasingly sought by consumers. In addition to appealing to environmentally conscious consumers, brands that take sustainability seriously contribute positively to the overall image of their products on the market.
It is impossible to underestimate the impact of social media on the hiking accessories market. The powerful influencers are the platforms such as Instagram, Pinterest, and YouTube which display recent trends in outdoor gear and inspire follower's interest in adventure. The key role in shaping consumer preferences and driving demand for specific products is played by social media influencers and outdoor enthusiasts. As a result, brands of hiking accessories are investing in visually appealing and shareable products, using the influence of social media to increase their reach and presence on the market.
In addition, changes in the way people perceive and engage in outdoor activities have been brought about by the COVID-19 pandemic. More people are turning to hiking for safety and enjoyment in the outdoors, due to a greater emphasis on health and well-being. The demand for hiking accessories, ranging from trekking poles and hydration systems to high-performance clothing, has increased as a result of this increase in interest.
Consequently, dynamic and evolving trends are emerging in the market for hiking accessories due to technological progress, changes in consumer behavior, ecological considerations as well as the influence of digital media. Businesses operating in the sector must adapt to this dynamic and embrace innovation and sustainability while relying on social media's power to connect with their target audience to flourish within a competitive environment.
SEGMENTAL OVERVIEW
The hiking accessories market is analyzed on the basis of type, end user, distribution channel, and region. On the basis of type, the market is bifurcated into camping gear, apparel, footwear, backpacks, and others. As per end user, the hiking accessories market is divided into men, women, and kids. On the basis of distribution channel, the market is bifurcated into online and offline. Region wise, it is studied across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
By Type
The camping gear segment, as per type, dominated the hiking accessories market in 2022 and is anticipated to maintain its dominance throughout the forecast period. The rise of eco-friendly and sustainable products has led to an increased demand for environmentally conscious gear, promoting the use of recycled materials and ethical manufacturing processes. Smart integration of technology into camping gear, such as solar-powered devices and portable water purifiers, is aimed at tech-savvy outdoor enthusiasts. In addition, a preference for easy portability is becoming increasingly evident in lightweight and compact designs. As outdoor activities become more widely shared experiences, the influence of social media on the market for innovative and visually appealing hiking accessories plays an important role.
By End User
The men segment dominates the hiking accessories market in 2022. The popularity of products such as smartwatches with GPS tracking, lightweight but durable clothing, and sustainable materials is growing. A growing interest in outdoor activities for fitness, mental well-being, and social engagement is a growth factor for male users. Moreover, the demand for eco-friendly gear is influenced by growing awareness about green practices. Manufacturers respond to these trends by creating innovative, performance-focused accessories that meet the evolving needs of male hikers and enhance their experience in the outdoors as well as satisfaction with life.
By Distribution Channel
The offline segment, as per the distribution channel, dominated the hiking accessories industry in 2022 and is anticipated to maintain its dominance throughout the hiking accessories market forecast period. The hiking accessories market demand is being driven by the increased popularity of outdoor sports and a growing number of people who are concerned about health. Retailers are incorporating experiential elements in-store, offering customers hands-on product experiences. Brand credibility is enhanced by working with influencers and outdoors specialists. The environmental consciousness of consumers is attracted by sustainable and eco-friendly products. In addition, a sense of community involvement is fostered by Strategic Partnerships with local outdoor clubs and communities. According to the report published by Deloitte, when it comes to outdoor products such as hiking accessories, 61% of brick-and-mortar customers mostly buy them from merchants who do not specialize in outdoor products. Decathlon is one such instance, having recently grown significantly throughout Europe. Supermarkets (10%) and discount stores (17%) come in second and third place, respectively, behind specialty outdoor stores.
Competition Analysis
The major players analyzed for the hiking accessories industry are The North Face, Patagonia, Columbia Sportswear, Arc'teryx, REI (Recreational Equipment, Inc.), Black Diamond Equipment, Osprey Packs, Salomon, Merrell, and Mountain Hardwear. Key players operating in the hiking accessories market have adopted product business expansion, acquisition, partnership, and investment as key strategies to expand their hiking accessories market share, increase profitability, and remain competitive in the market.
A competitive landscape analysis reveals a dynamic market in the field of hiking accessories, where key players constantly innovate to meet changing consumer needs for outdoor sports. The market is dominated by leaders in the outdoor sector, like Patagonia, North Face, and Osprey which offer a range of top-quality rucksacks, clothing, or gear designed to be worn on every variety of terrain. These established brands leverage their strong reputations for durability and performance, often commanding a premium price. However, emerging contenders like Black Diamond and REI's in-house brands are gaining ground by focusing on innovative technology and sustainable materials. For example, Black Diamond is an excellent manufacturer of state-of-the-art climbing gear and lighting solutions.
Apart from traditional outdoor retailers, the market for hiking accessories is becoming more dominated by online platforms like Amazon that offer a wide range of products under both established and new brands. Competition has intensified and companies have increased their digital presence and customer engagement as a result of the focus on e-commerce. In response to consumer demand for environmentally conscious products, eco-friendly brands such as Patagonia are gaining momentum with a growing focus on sustainability. The competition is likely to increase as the hiking community expands, which creates an opportunity for brands to distinguish themselves through innovation, sustainability, and continuous customer-focused strategies.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hiking accessories market analysis from 2022 to 2032 to identify the prevailing hiking 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 hiking 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 hiking accessories market trends, key players, market segments, application areas, and hiking accessories market growth strategies.
Hiking Accessories Market Report Highlights
| Aspects | Details |
 Forecast period | 2022 - 2032 |
 Report Pages | 250 |
 By Type |
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 By End User |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Granite Gear, Arc'teryx, Garmin, Big Agnes, Inc., Gossamer Gear, Goal Zero, EXOfficio LLC, Gregory Mountain Products, Black Diamond Equipment, Columbia Sportswear Company |
Analyst Review
The perspectives of the leading CXOs in the hiking accessories market are presented in this section. As outdoor leisure becomes more popular globally, the market for hiking accessories has grown significantly in recent years. The demand for specific equipment to meet the needs of enthusiasts has been encouraged by the increasing popularity of hiking as a form of fitness, relaxation, and adventure. Products with both usefulness and style that are intended to improve hiking are widely available in the market. Technological developments have resulted in the development of hiking boots that are supportive, solid, and lightweight, making footwear a vital sector of the hiking accessory market. In order to provide comfort and safety during outdoor excursions, the market also offers a variety of clothes, such as moisture-wicking clothing, waterproof coats, and UV-protective gear. Innovative designs and innovative components for enhanced durability and storage options have also been incorporated into backpacks specifically made for hiking.
According to CXOs, as essential hiking equipment, navigation tools like GPS units and compasses help hikers plan their routes and ensure their safety in unfamiliar areas. The market for hiking accessories also includes camping gear, which caters to the needs of hikers who go backpacking and overnight trekking. Products like lightweight tents, sleeping bags, and portable cooking equipment are among the camping gear offerings. The market has been affected by the growing number of environmentally concerned consumers, which has raised demand for hiking equipment that is both sustainable and eco-friendly. In response, producers are implementing eco-friendly production methods, cutting carbon footprints, and using recycled materials.
The global hiking accessories market was valued at $26,453.4 million in 2022, and is projected to reach $49,830.8 million by 2032, registering a CAGR of 6.7% from 2023 to 2032.
The forecast period in the Hiking accessories market report is 2023 to 2032.
The base year calculated in the Hiking accessories market report is 2022.
The top companies analyzed for the Hiking accessories market report are The North Face, Patagonia, Columbia Sportswear, Arc'teryx, REI (Recreational Equipment, Inc.), Black Diamond Equipment, Osprey Packs, Salomon, Merrell, and Mountain Hardwear.
The camping gear segment is the most influential segment in the Hiking accessories market report.
North America holds the maximum market share of the Hiking accessories market.
The company profile has been selected on the basis of key developments such as partnership, product launch, merger and acquisition.
The market value of the Hiking accessories market in 2022 was $26,453.4 million.
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