IMARC Group, a leading market research company, has recently releases report titled “Archery Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the archery equipment market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the archery equipment market?
The global archery equipment market size reached US$ 3.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.
What is archery equipment?
Archery equipment refers to the tools, accessories, and gear used in the practice of archery. It includes various items essential for shooting arrows accurately and safely. The primary component of archery equipment is the bow, which can be traditional (longbow or recurve bow) or modern (compound bow). Other essential equipment includes arrows, which are shot from the bow, and a bowstring to propel the arrows. Archery accessories encompass items like arrow rests, sights, stabilizers, release aids, quivers, and protective gear such as arm guards and finger tabs. Each piece of archery equipment plays a crucial role in enhancing accuracy, performance, and safety for archers of different skill levels.
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What are the growth prospects and trends in the archery equipment industry?
The archery equipment industry showcases promising growth prospects and evolving trends. Firstly, the increasing popularity of archery as a recreational activity and a competitive sport drives the demand for archery equipment. Growing participation in archery clubs, events, and tournaments contributes to the industry's growth. Secondly, advancements in technology have led to the development of innovative and high-performance archery equipment, such as compound bows with improved accuracy and adjustable features. Thirdly, there is a rising trend towards customization and personalization in archery equipment, allowing users to tailor their bows and accessories to their preferences and shooting style.
Additionally, the growing interest in traditional and historical archery techniques has resulted in a demand for traditional bows and traditional archery accessories. The incorporation of sustainable and eco-friendly materials in manufacturing archery equipment also aligns with the trend towards environmental consciousness. Overall, these factors indicate positive growth and evolving trends within the archery equipment industry.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Bows and Bow Accessories
- Arrows
- Others
Breakup by End User:
- Individual Consumer
- Clubs and Gaming Zones
- Sports Organizers
Breakup by Distribution Channel:
- Speciality and Sports Shops
- Departmental and Discount Stores
- Online Stores
- Others
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Bear Archery, Inc.
- Crossman Corporation
- Easton Technical Products, Inc.
- Gold Tip LLC
- Mathews Archery, Inc.
- New Archery Products, Inc.
- Precision Shooting Equipment, Inc.
- The Outdoor Group LLC
- The Bohning Company
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