A comprehensive overview of the Winter Sporting Goods Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Winter Sporting Goods Market in the Global context. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Winter Sporting Goods Market at the regional & country levels. Winter Sporting Goods Market is expected to grow at a CAGR of 3% between 2021-2027
Market Overview
The global Winter Sporting Goods market is projected to gain significant traction over the forecast timeframe, owing to some favorable factors. The rising popularity of outdoor activities including snow sports among consumers, because of the growing awareness regarding these sports mental and physical benefits, is driving the winter sporting goods demand, thereby supporting this market’s growth. Winter Sporting Goods market is primarily driven by factors such as rising popularity of winter sports in developing economies and rising number of participants in winter sports from both advanced and emerging economies.
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COVID-19 Impact
In the most hopeful scenario, the COVID-19 pandemic would have a long-term positive impact on the global Winter Sporting Goods Market Like ski resorts, hotels, bars and tourism operators they all have been affected, as have a whole range of suppliers who depend on demand from these organizations. While some venues can at least remain open and maintain operations, others have had to shut down entirely for the time being. Equipment manufacturers and retailers are worried about full warehouses that are waiting for buying customers. It has forced the industry to improve its digital offering. Amid the Covid-19 pandemic, several brick-and-mortar stores have taken a major hit owing to the need for social distancing in most infected countries, however, e-commerce has emerged as the go-to distribution channel for supplies since the outbreak. According to data gathered during the pandemic, digitization has been catapulted forwards in many industries and businesses, with five years worth of adoption of new technology happening within a couple of weeks. The most obvious examples include using the internet to work, teach or study, buy groceries or consult health professionals from home. The growing popularity of e-commerce platforms and the increasing preference for online shopping have compelled manufacturers to lean on online distribution for better visibility and a wider consumer reach. Several manufacturers are increasingly focusing on implementing the direct-to-consumer approach to generate more sales through their online retail platforms.
Winter Sporting Goods Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product, the market is primarily bifurcated into:
· Skis and Poles
· Snowboards
· Footwear
· Ice Hockey Sticks
· Protective Gear and Accessories
· Others
Based on Product, the market is segmented into Skis and Poles, Snowboards, Footwear, Ice Hockey Sticks, Protective Gear and Accessories and Others. Of the different product segments, the footwear segment leads the global market, accounting for over half of the overall market share in 2020.Advancements in technology have given rise to innovations in wearable gear. Intelligent gear such as insoles that act as a personal ski instructor, and textiles that regulate body temperature, are dictating the startup scene as well as product launches in the skiing space.
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By Application, the market is primarily studied into:
· Skiing
· Ice hockey
· Snowboarding
· Figure skating
· Others
Based on Application, the Winter Sporting Goods Market is segmented into Skiing, Ice Hockey, Snowboarding, Figure Skating and Others. The Skiing segment contributed the maximum market to the Winter Sporting Goods Market. The increasing concern among consumers for a healthy lifestyle coupled with the rising acceptance of various winter sports activities, such as skiing, snowboarding, cross-country skiing, sledding, and ice skating, especially in countries with cold weather like the U.S., Canada, Germany, Sweden, France, and Austria, has increased the popularity of winter sports.
By Distribution Channel, the market is primarily studied into:
· Online
· Offline
Based on Distribution Channel, the Winter Sporting Goods Market is segmented into Online and Offline. Online segment holds the highest share in the Winter Sporting Goods Market. The growing popularity of e-commerce platforms and the increasing preference for online shopping have compelled manufacturers to lean on online distribution for better visibility and a wider consumer reach. Several manufacturers are increasingly focusing on implementing the direct-to-consumer approach to generate more sales through their online retail platforms.
Winter Sporting Goods Market Region Segmentation Includes:
· North America
· Europe
· Asia Pacific
· Rest of World
Based on the estimation, North America dominated the market in 2020. Asia-Pacific is expected to witness the highest CAGR growth during the forecast period.
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The major players targeting the market includes:
· L.L. Bean Inc.
· American Athletic Shoe Co.
· ANTA Sports Products Ltd.
· Clarus Corp.
· EDEA srl
· Fischer Sports GmbH
· GRAF SKATES AG
· Icelantic LLC
· Roces S.r.l.
· SCOTT Sports SA
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the Global context. The specialist team of research analysts sheds light on various traits such as Global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Winter sporting goods Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and advancements in the winter sporting goods market?
· Which factors are influencing the winter sporting goods market over the forecast period?
· What are the global challenges, threats, and risks in the winter sporting goods market?
· Which factors are propelling and restraining the winter sporting goods market?
· What are the demanding global regions of the winter sporting goods market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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