Archery Equipment Market Size, Trends Analysis & Forecast 2024-32

Global Archery Equipment Industry: Key Statistics and Insights in 2024-2032

Summary:

• The global archery equipment market size reached USD 3.9 Billion in 2023.
• The market is expected to reach USD 6.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032.
• North America leads the market, accounting for the largest archery equipment market share.
• Bows and bow accessories account for the majority of the market share in the product segment, as they are essential items for sport, required by all archers regardless of skill level or style.
• Individual consumers hold the largest share in the archery equipment industry.
• Specialty and sports shops represent the leading distribution channel segment.
• The rise archery as a recreational activity is a primary driver of the archery equipment market.
• Technological advancements and the growing participation in archery sports are reshaping the archery equipment market.

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Industry Trends and Drivers:

• Increasing participation in archery sports:

The rising participation in archery sports, driven by its inclusion in international competitions, is impelling the growth of the market. This interest is not only due to the competitive nature of the sport but also its portrayal in popular culture, which is improving its appeal among the youth and adults alike. Governments and sports organizations are investing in archery programs and facilities, aiming to nurture talent from the grassroots level. This increase in participation rates is driving the demand for archery equipment, including bows, arrows, and protective gear. Manufacturers are responding by expanding their product lines and incorporating advanced technologies to improve performance and safety, further enticing newcomers and seasoned archers to invest in their gear.

• Technological advancements in archery equipment:

Manufacturers are continuously innovating to produce lighter, more durable, and accurate bows and arrows. Additionally, the use of carbon fiber and advanced plastics is improving the design and performance of archery products, making them more appealing to both amateur and professional archers. These innovations are not only enhancing the user experience but also improving safety standards, a critical factor in attracting new participants to the sport. The development of adjustable compound bows, which can be tailored to individual needs and preferences, is also broadening the market reach, allowing people of diverse ages and skill levels to engage in archery.

• Archery as a recreational activity:

With increasing stress levels and the need for physical activities that also offer relaxation and mental health benefits, many people are turning to archery as a form of leisure and stress relief. Archery ranges and clubs are becoming more common, offering people a way to learn and enjoy the sport in a safe, controlled environment. This trend is supported by social media and other digital platforms, where communities of archery enthusiasts share their experiences, tips, and achievements, further popularizing the sport. Additionally, family-friendly archery events and programs designed to introduce the sport to beginners of all ages are contributing to its growth as a hobby. This rise in recreational archery is driving the demand for equipment that caters to beginners and casual archers.

Archery Equipment Market Report Segmentation:

Breakup By Product:

• Bows and Bow Accessories
• Arrows
• Others

Bows and bow accessories exhibit a clear dominance in the market, as they are essential items for sport, required by all archers regardless of skill level or style.

Breakup By End User:

• Individual Consumer
• Clubs and Gaming Zones
• Sports Organizers

Individual consumers represent the largest segment due to the widespread popularity of archery as a recreational activity and sport among personal users.

Breakup By Distribution Channel:

• Speciality and Sports Shops
• Departmental and Discount Stores
• Online Stores
• Others

Specialty and sports shops account for the majority of the market share attributed to their focused expertise, variety of products, and personalized user service appealing to both novice and experienced archers.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America dominates the market owing to its strong recreational sports culture and the popularity of archery as both a sport and a leisure activity.

Top Archery Equipment Market Leaders:

The archery equipment market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

• 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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