Hunting Equipment Market: Current Analysis and Forecast (2022-2028)

The global Hunting Equipment Market is expected to grow at a significant rate of around 7% during the forecast period. Any firearm, weapon system, or another item that can be used to pursue, dispatch, or even catch wildlife is referred to as hunting equipment. The preference for hunting and fishing as well as the expanding use of lead-free ammunition avoid harming wildlife and contaminating natural resources. The growing popularity of outdoor recreational activities is notably driving the hunting equipment market growth. In addition, the market is expanding because of the rising popularity of outdoor recreational activities, hunting games, and hunters increased role as conservationists.

American Outdoor Brands Inc., Beretta Holding S.p.A, BPS Direct LLC, Buck Knives Inc., Easton Technical Products Inc, FeraDyne Outdoors, Pure Fishing Inc, Spyderco Inc, Sturm Ruger and Co. Inc, Vista Outdoor Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst type, firearm category to witness robust CAGR during the forecast period"

Based on type, the market is segmented into firearms, ammunition and accessories, knives, archery equipment and others. The firearm category is to witness higher CAGR during the forecast period owing to the growing preference to adopt the modern way of hunting and an increase in the adoption of licensed weapons for hunting purposes. Moreover, following a passion, growing industries, and increasing recreational sports and games events are some of the factors driving the growth of the market.

"Amongst application, the commercial to hold a significant share in the market in 2020"

Based on the drive type, the market is categorized into individual and commercial. Among these, the commercial to hold a significant share of the market in the forecast period. Furthermore, the increasing investment of the market's key players in the innovation and development of hunting equipment to grow the commercial industries is expected to drive the growth of the market.

"North America to hold a significant share in the market"

In 2020, North America held a significant share of the global hunting equipment market. The increasing emphasis on leading healthy lives among the public, especially in the US and Canada, has resulted in an increase in the popularity of outdoor leisure activities throughout the Americas. Hunting is recognized as an integral part of North American culture, particularly in the US and Canada. Additionally, since a significant amount of the money obtained from hunting licenses and excise taxes on hunting equipment is used for habitat management and animal conservation in the US and Canada, hunting is an essential strategy for controlling wildlife in these countries. The increased popularity of outdoor recreational activities in the Americas is predicted to fuel the market expansion for hunting equipment there.

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Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

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