A recently published study by Transparency Market Research (TMR) has estimated a moderate expansion for the global trail sports accessories market during the forecast period 2017 to 2022. Sales of trail sports accessories across the globe are expected to surpass US$ 2,000 Mn in revenues by 2022-end.
Selecting a Good Application for Using Commonly among a Trail Community is Difficult
The trend of trail sports continues to gain popularity among the growing health-conscious consumers across the globe. Transforming into a mass phenomenon, trail sports, such as trail running and hiking, are gaining prevalence by attracting students, hip young runners, and new interested parties. Social running is becoming a new trend, with several running clubs organizing running campaigns via social online groups. Application developers have made it easy for trail runners, and hikers, to enjoy the sport together, even at high levels. However, orienting themselves, and seeking a good application for using it commonly in their community still remains a challenge for participants in trail sports. This has resulted into an increased emphasis on importance of interfaces, creating demand for options regarding transfers to other networks. Store visits for purchasing trail sports accessories have witnessed a drastic decline, as individuals are orienting themselves online and grouping offline later for running, compelling retailers to seek solutions for reaching the trail communities. This has resulted into challenges and additional costs for retailers, thereby increasing cost of the accessories related to trail sports. The aforementioned factors might influence growth of the market over the forecast period.
A significant growth in the market for wearables has been observed, with more and more products available for selection by trail sport participants. But, the selection has become more unclear, owing to the increased availability. This can be attributed to tech giants, including Apple and Samsung, who are boosting the presence of their products in the market through advertisements and marketing, incurring more challenges for retailers. The cool and laid-back trail community have a good networking within them, creating difficulty for manufacturers as the drawbacks of their new products get easily noticed and spread, with relatively lesser number of participants in this sport. These factors might further impact growth of the global trail sports accessories market.
Shoes to Remain Most Attractive Product in the Market
Shoes are projected to remain the most attractive product, and estimated to account for roughly half share of the market in terms revenues during 2017 to 2022. Sales of backpacks and tents are expected to exhibit a parallel expansion at a CAGR of 3.2 % through 2022.
Direct to customer institutional channel will continue to be the most lucrative sales channel in the global trail sports accessories market. Sales of trail sports accessories in this sales channel will account for nearly one fourth share of the market in term of revenues over the forecast period.
Economy Trail Sports Accessories to Account for Largest Revenue Share of the Market
Economy trail sports accessories will account for the largest revenue share of the market, on the basis of price range. Sales of premium, and mid-range trail sports accessories will register similar CAGRs through 2022. Europe will continue to be the largest market for trail sports accessories, in terms of revenues.
Key market players listed in the report include Big Agnes, Inc., Adidas AG,, Wolverine World Wide, Inc., Deckers Outdoor Corporation, Skechers USA, Inc., V.F. Corporation, Columbia Sportswear Company, Newell Brands Inc., Black Diamond, Inc., and Amer Sports Corporation.