Winter Sporting Goods Market is expected to foresee significant growth. North America leads the Market!
- Himanshu Patni
- April 5, 2022
- CONSUMER GOODS, NEWS
- Winter Sporting Goods Market, Winter Sporting Goods Market growth, Winter Sporting Goods Market share, Winter Sporting Goods Market size, Winter Sporting Goods Market trends
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Winter Sporting Goods Market is expected to grow at a CAGR of around 3% over the forecast period (2021-2027). The Winter Sporting Goods Market is primarily driven by factors such as rising popularity of winter sports in developing economies and rising number of participants in winter sports from both advanced and emerging economies. The rising popularity of outdoor activities including snow sports among consumers, because of the growing awareness regarding these sports’ mental and physical benefits, is driving the winter sporting goods demand, thereby supporting this market’s growth. The growing consumer interest in nature-based sports that offer leisure, as well as competitiveness, has been promoting the demand for winter sports products including sleds and tubes. Sports enthusiasts in the advanced economies are focusing on making winter sports a mainstream profession which acts as a vital factor escalating the market growth.
For a detailed analysis of the market drivers browse through – https://univdatos.com/report/winter-sporting-goods-market/
In the most hopeful scenario, the COVID-19 pandemic would have a long-term positive impact on the global Winter Sporting Goods Market Like ski resorts, hotels, bars and tourism operators they all have been affected, as have a whole range of suppliers who depend on demand from these organizations. While some venues can at least remain open and maintain operations, others have had to shut down entirely for the time being. Equipment manufacturers and retailers are worried about full warehouses that are waiting for buying customers. It has forced the industry to improve its digital offering. Amid the Covid-19 pandemic, several brick-and-mortar stores have taken a major hit owing to the need for social distancing in most infected countries, however, e-commerce has emerged as the go-to distribution channel for supplies since the outbreak. According to data gathered during the pandemic, digitization has been catapulted forwards in many industries and businesses, with five years worth of adoption of new technology happening within a couple of weeks. The most obvious examples include using the internet to work, teach or study, buy groceries or consult health professionals from home. The growing popularity of e-commerce platforms and the increasing preference for online shopping have compelled manufacturers to lean on online distribution for better visibility and a wider consumer reach. Several manufacturers are increasingly focusing on implementing the direct-to-consumer approach to generate more sales through their online retail platforms.
For a detailed analysis of the Covid-19 Impact on the market browse through – https://univdatos.com/report/winter-sporting-goods-market/
Based on Product, the market is segmented into Skis and Poles, Snowboards, Footwear, Ice Hockey Sticks, Protective Gear and Accessories and Others. Of the different product segments, the footwear segment leads the global market, accounting for over half of the overall market share in 2020. Advancements in technology have given rise to innovations in wearable gear. Intelligent gear such as insoles that act as a personal ski instructor, and textiles that regulate body temperature, are dictating the startup scene as well as product launches in the skiing space. Currently, skiing accounts for the highest revenue in the winter sporting goods market. Hence, manufacturers in the winter sporting goods ecosystem are innovating in new wearables that provide actionable insights to improve the skiing performance of customers. For instance, Snow cookie – a provider of smart skiing systems, has gained expertise in the development of multi-sensor systems that captures data related to speed, technique, and body position.
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For a better understanding of the market adoption of Winter Sporting Goods, the market is analyzed for the countries such as North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia- Pacific), & Rest of World. North America dominated the market in 2020. The rising acceptance of various winter sports activities, such as skiing, snowboarding, cross-country skiing, sledding, and ice skating, especially in countries with cold weather like the U.S., Canada, Germany, Sweden, France, and Austria, has increased the popularity of winter sports.
Some of the major players operating in the market include L.L. Bean, American Athletic Shoe Co., ANTA Sports Products Ltd., Clarus Corp., EDEA srl, Fischer Sports GmbH, GRAF SKATES AG, Icelantic LLC, Roces S.r.l., SCOTT Sports SA, etc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions
Winter Sporting Goods Market Segmentation
Market Insight, by Product
- Skis and Poles
- Ice Hockey Sticks
- Protective Gear and Accessories
Market Insight, by Application
- Ice Hockey
- Figure Skating
Market Insight, by Distribution Channel
Market Insight, by Region
- North America Winter Sporting Goods Market
- United States
- Rest of North America
- Europe Winter Sporting Goods Market
- United Kingdom
- Rest of Europe
- Asia Pacific Winter Sporting Goods Market
- Rest of Asia-Pacific
- Rest of World Winter Sporting Goods Market
- L.L. Bean
- American Athletic Shoe Co.
- ANTA Sports Products Ltd.
- Clarus Corp.
- EDEA srl
- Fischer Sports GmbH
- GRAF SKATES AG
- Icelantic LLC
- Roces S.r.l.
- SCOTT Sports SA