The U.S. hunting equipment and accessories market presents a compelling opportunity for industry leaders. Here’s why:
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Market Growth: The market is poised for significant expansion, reaching an estimated US$ 23,040.2 million by 2033, reflecting a steady CAGR of 4.0%.
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Rising Demand: This growth is fueled by several factors:
- Increased Interest: More people are seeking outdoor experiences, driving demand for hunting equipment.
- Post-Pandemic Surge: The pandemic’s influence on outdoor activities and firearm sales continues to impact the market positively.
- Diversifying Preferences: Hunters are a varied group with evolving needs, creating a market for a wide range of equipment.
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Expanding Product Range: The industry is responding to these diverse needs by offering an ever-growing selection of equipment and accessories.
- Essential Gear: This includes firearms, bows, knives, ammunition, and sharpeners.
- Advanced Technology: High-tech options like optics, blinds, scent eliminators, trail cameras, communication devices, and GPS are gaining traction.
- Conservation Focus: Lead-free ammunition is becoming increasingly popular, aligning with environmental concerns.
Decision-Maker Advantage:
Understanding these trends empowers decision-makers to capitalize on this flourishing market. The key lies in:
- Product Diversification: Offer a comprehensive range catering to both traditional and tech-savvy hunters.
- Innovation: Stay ahead of the curve by developing cutting-edge equipment that addresses specific hunter needs.
- Sustainability: Embrace eco-friendly practices and materials that resonate with environmentally conscious consumers.
By strategically positioning your brand within this dynamic market, you can secure a significant share of the growing U.S. hunting equipment and accessories industry.
Key Takeaways:
- The market for the USA hunting equipment and accessories reached a valuation of US$ 15,088.5 million in 2022.
- The USA hunting equipment and accessories industry is projected to grow at a CAGR of 4.0% during the forecast period 2023 to 2033.
- By product type, ammunition segment is leading the USA hunting equipment and accessories market.
- On the basis of end-users, the individual use segment is expected to lead the market over commercial uses.
- Hunting specialty stores is the widely preferred segment on the basis of sales channels in the USA hunting equipment and accessories industry.
- The market is projected to reach a valuation of US$ 23,040.2 million by 2033.
“The market for hunting equipment and accessories has grown rapidly in the USA post-2020. The rise of hunting focus-groups and favorable regulatory frameworks are expected to provide major boost to the market. Manufacturers are likely to find substantial growth opportunities in the market through 2033 by shifting focus on developing durable but cost-effective products. Widening the range of associated services offered by these players is also expected to boost revenues over the forecast period.” – says a lead analyst at Future Market Insights (FMI)
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Who is winning?
Leading players in the USA hunting equipment and accessories market are AMERICAN OUTDOOR BRANDS INC. Blaser, BPS Direct, L.L.C., Buck Knives, Inc. USA, DICK’s Sporting Goods, Easton Technical Products, Inc., Fabbrica d’Armi Pietro Beretta S.p.A. (Beretta USA), FeraDyne Outdoors, Outdoor Edge Cutlery, PURE FISHING, INC., RKA Gun Gallery – Indoor Range, Shenzhen Dajin Precision Hardware Co., Ltd, Spyderco, Inc., SPYPOINT, Sturm, Ruger & Co., Inc., and Vista Outdoor Operations LLC among others.
Mergers and acquisitions, alongside variety in product offerings are key strategies adopted by players in this market to remain competitive.
The target market is primarily characterized by the presence of large corporations, but small players also greatly influence local sales. In fact, small to medium-sized players often fare better with certain sections of hunters due to their ability to provide personalized services. Manufacturers that focus on innovations, cost-effective products and customer proximity to sales channels are likely to be able to seize growth opportunities in the target market.
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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