Hunting equipment market in Americas to grow at a CAGR of 1.47% from 2022 to 2027, Growing prominence of hunters as conservationists to be a key trend - Technavio
NEW YORK, Dec. 8, 2023 /PRNewswire/ -- According to Technavio, the size of the hunting equipment market in Americas is estimated to grow by USD 733.75 million from 2022 to 2027. The market is estimated to grow at a CAGR of 1.47% during the forecast period. Moreover, the growth momentum will accelerate. The growing prominence of hunters as conservationists is a key trend in the market. Hunters contribute to funding that supports wildlife conservation through various federal and state-level programs in countries such as the US and Canada. For instance, the Duck Stamp is mandatory for waterfowl hunting in the US, and about 98% of the revenue generated from its sales is used for wildlife conservation and habitat management. Therefore, the growing prominence of hunters as conservationists will positively influence the hunting equipment market in Americas during the forecast period. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report
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Hunting equipment market in Americas - Segmentation assessment Segment Overview Technavio has segmented the market based on product (firearms, ammunition and accessories, and archery equipment and knives) and end-user (commercial and personal).
The firearms segment will account for a significant share of the market's growth during the forecast period. Some examples of firearms used for hunting include rifles, shotguns, muzzleloaders, primitive firearms, pistols, and handguns. Hunters who use rifles and shotguns for game and bird hunting should carry equipment licenses. However, the regulations are less stringent for the use of muzzleloaders, primitive firearms, and handguns. Firearm permit holders can hunt with any legal equipment during hunting season in the US and Canada. These factors are expected to drive the growth of the firearms segment during the forecast period.
Insights on the market contribution of various segments, including historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a sample report
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