Published: Jun, 2018
The presence of several companies has rendered the global trail sports accessories market fragmented. Some of the leading companies in the market are aiming to expand their product portfolio. Through this they are aiming to strengthen their foothold in the global trail sport accessories market, as per a new study Transparency Market Research (TMR). According to the report, key players are gearing to offer advanced wearable to woo customers. Besides this, they have increased investment towards marketing programs. With tech giants such as Samsung and Apple pulling up their socks in face of intensifying competition, the smaller players are experimenting with their pricing strategies to buoy growth. In addition to this, the global trail sports accessories market has witnessed several strategic collaborations over the years aimed at gaining a competitive edge over contemporaries.
As per the report, V.F. Corporation, Amer Sports Corporation, Wolverine World Wide Inc., Newell Brands Inc., Columbia Sportwear Company, Deckers Outdoor Corporation, Black Diamond Inc., Skechers USA Inc., Adidas AG, and Big Agnes Inc. are some of the leading brands in the global trail sports accessories market. Strategies adopted by the key players are likely to have a significant influence over the market.
According to TMR, the market is expected to reach US$2,000 mn by the end of 2022. Among key products available in the market, the demand for shoes is likely to remain the highest through the course of the report’s forecast period. Regionally, Europe has emerged as the leading market for trail sports accessories and is expected to remain dominant in the forthcoming years.
Demand among Health-conscious Consumers Expected to Increase
In the last couple of years, trail sports have gained immense popularity among health-conscious consumers worldwide. It has gradually transformed into a mass phenomenon, with participation in trail sports such as hiking and running gaining prevalence especially among students, athletics, besides adults recently embarking on a healthy lifestyle. This is visible from the rising popularity of social running organized by various clubs. Furthermore, there are institutions hosting running campaigns the word on which is often communicated via various social media platforms.
Application developers have also jumped into the bandwagon and have developed various applications for trail runners and hikers, allowing them to track their activity and monitor impact on health and fitness. Similar innovations are underway as the love for sports and fitness activities encompass consumers worldwide. Given the scenario, TMR predicts impressive growth on cards for the global trail sports accessories market.
Declining Store Visits May Have an Adverse Impact
On the flip side store visits have drastically declined over the last few years as an increasing number of customers orient themselves online. As an adverse impact of this trend offline grouping among individuals has significantly reduced, compelling retailers to seek ways for reaching trail communities. This in turn means additional costs to be incurred by retailers, besides more challenges, therefore, increasing the cost of trail sport accessories. This factor can restrain growth of the global trail sports accessories market to an extent.
This review is based on a TMR report, titled “Trail Sports Accessories Market (Product - Shoes, Tent, Backpack, Trekking Pole, Head Lamps/Lanterns, Helmet, Gloves, Others; Sales Channel - Independent Sports Outlet, Franchised Sports Outlet, Modern Trade Channel, Direct to Customer Brand Outlet, Direct to Customer Online Channel, Direct to Customer Institutional Channel, Third Party Online Channel; Price Range - Economy, Mid-Range, Premium, Super-Premium) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022.”
The report segments the global trail sports accessories market as:
Trail Sport Accessories Market, by Product type
- Back packs
- Trekking Poles
Trail Sport Accessories Market, by Sales Channel
- Independent Sports Outlet
- Franchised Sports Outlet
- Modern Trade Channel
- Direct to Customer Brand Outlet
- Direct to Customer Online Channel
- Third Party Online Channel
Trail Sport Accessories Market, by Price Range
Trail Sport Accessories Market, by Region
- North America
- Latin America
- Asia Pacific except Japan
- Middle East and Africa
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