The camping equipment market was valued at USD 13,954.86 million in 2020, and it is projected to witness a CAGR of 6.68% during the forecast period, 2021-2026.
The situation of COVID-19 had a positive impact on the market growth, as recreationists spent the higher amount of leisure time from their complex work schedules. As per the sources, the implementation of lockdown came as an opportunity for campers and prospective campers across the world. Considering the leisure travelers of the North America region, the frequency of leisure trips made by the travelers increased from 11% to 16% post-COVID-19 situation. Hence, the market witnessed a positive impact on the demand for camping equipment during the period.
Vendors are introducing camping equipment that ensures higher safety and comfort level in terms of size, weight, and quality of the material. Moreover, vendors have started developing the type of insulation used in tents, which, in order to protect the consumers from extreme climatic conditions.
A number of camping organizations and service providers are introducing camping programs targeted at different age groups in an effort to attract new campers. For the older generations, these programs often focus on the experience of camping, while for younger generations, they feature adventure sports.
In addition, with the rising awareness about environmental preservation, demand for eco-friendly camping equipment is on the rise. Thus, vendors are introducing eco-friendly equipment in order to differentiate and expand their product line. Such innovation in camping equipment will increase the sales of camping equipment during the forecast period.
For instance: Big Agnes introduced the Salt Creek 2, a multi-season backpacking tent made with 100% recycled polyester fabric, hardware, mesh materials, zippers, and uses dye-free color.
Key Market Trends Rising Participation In Outdoor Recreational Activities
The increasing participation in outdoor recreational activities is a significant factor that will drive the prospects for growth in this market, especially in regions, like Europe, North America, and Pacific countries, such as Australia & New Zealand. Factors, such as changes in lifestyle and attitudes, demographics, increasing recreational expenditure, and the physical and mental benefits of outdoor recreational activities inspire consumers to engage in outdoor recreational activities. Outdoor recreational activities also help to maintain a proper work-life balance. Camping is becoming a popular recreational activity, with more than 40 million people partaking in camping activities in the United States each year. This includes people camping with cars and tents, as well as recreational vehicles and backyard camping. Approximately 26% of campers (10.66 million participants) were children and adolescents, aged between 6 and 17 years. Young adult participants (18-24 years) made up about 11.2% of all participants (as per the data published by Outdoor Foundation). Moreover, as per Outdoor Foundation data, the frequency of purchasing or replacing camping tents is once every three years, on average, and for sleeping bags is once in 2.9 years, and camping chairs is once in 2.7 years in the United States.
North America Holds Major Share In The Market
North America accounted for the largest share of the global campin equipment market with United States beingthe major market followed by Canada and Mexico. According to the Kampgrounds of America (KOA), more than 6 million Americans have adopted camping in their lifestyle, with the trend showing no indication of slowing down. The percentage of campers who camp more than three times each year has grown by 64%, since 2014. Therefore, the increased number of consumers demonstrating their interest in camping has further propelled the spending on camping equipment. For example, as per the data revealed by KOA 47% of campers spent between USD51 and USD200 on camping equipment in 2016. Moreover, the COVID-19 pandemic has triggered an increased spending on the outdoor recreations across the North American countries. For example, as per Moneris, the country’s largest payment processing company, retailers in the outdoor travel and sports and recreation sectors witnessed a big boost in spending as people stayed close to home and tried to do more open-air activities during 2020. This is supported by the fact that Ontarians bought 47% more camping gear in August than that same month in 2019, thus contributing towards the industry growth during the forecast period.
Competitive Landscape The global camping equipment market is competitive and major players are focusing on innovating their offerings through new product development and expansion in the market, in order to widen their presence across the world and to enhance their brand portfolio to cater to various preferences of consumers.? The most active companies in the global camping equipment market include key players, such as Newbell Brands, AMG Group Ltd, Exxcel Outdoor LLC, and mont-bell Co. Ltd.? In terms of share of the strategies adopted, product innovation captured major share and remained the most preferred strategy adopted by the leading market players. Companies are expanding their production lines and their product portfolios, geographically, which helps them to gain a competitive advantages over other players. Technical advancement was another key factor in product innovation. For instance: ? In December 2020, Vango, a brad of AMG, launched a new innovative inflation technology. The S.I. Pro technology will feature in Vango’s new 2021 Anantara III Air TC 650XL tent, alongside a range of caravan awnings, including the Riviera 420. The new technology is aimed at making pitching easier for campers and caravanners.
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