Hunting Equipment and Accessory Market
Hunting Equipment and Accessory Market Size, Share & Trends Analysis Report by Product (Gun and Rifle, Archery, Ammunition, Auxiliary Equipment, and Others), by Application (Individual, and Commercial), and by Distribution Channel (Supermarkets/hypermarkets, Specialty Stores, Online Platforms, and Others) Forecast Period (2024-2031)
Hunting equipment and accessory market is anticipated to grow at a CAGR of 7.4% during the forecast period (2024-2031). The market is expected to showcase steady growth in the future owing to the increasing number of hunting enthusiasts, the growing trend for hunting trophy sports, and advancement in hunting accessories and equipment. Further, the market is expected to be impacted by the growing regulatory actions and imposition of the export ban on the hunting of reserved animal species.
Market Dynamics
Growing Issuance of Hunting Licenses
The rise in issuance of hunting licenses driven by the growing popularity of hunting trophy sports, and inclination towards investing extra time into recreational outdoor activities such as hunting and fishing is contributing to the global market growth. According to the Council to Advance Hunting and the Shooting Sports (Council), a survey was conducted by state wildlife agencies in early 2021 that states that among the 40 reported states, there was an overall increase in hunting license sales of 4.9% from 2019 to 2020. As the COVID-19 pandemic stretched into a second year, 2021 saw American demands for outdoor recreation and escape remain high, especially among nonresident hunting license buyers, but overall hunting license sales dipped by 1.9%. To continue identifying hunting license sales trends, the Council revisited this study in early 2023, with results revealing further slippage in 2022 sales, this time by 3.1% compared to 2021 levels.
Increasing Regulatory Actions Against Hunting Activities
The increasing regulatory actions and imposition of the ban to restrict hunting sports and activities by countries globally impede market growth. Several Western countries, especially in European countries are working unanimously to create laws that restrict the import and export of hunting trophies to safeguard conserved animal species across the region. For instance, in January 2024, Belgium's Parliament voted unanimously in favor of the Minister of Climate, the Environment, Sustainable Development, and Green Deal Zakia Khattabi's bill prohibiting the import of hunting trophies from endangered species into the country. The vote backed unanimously in the Belgian Chamber of Representatives, mirrors the 91.0% of Belgians standing against trophy hunting and the 88.0% favoring an import ban on any hunting trophy.
Market Segmentation
- Based on product, the market is segmented into gun and rifle, archery, ammunition, auxiliary equipment, and others.
- Based on application, the market is bifurcated into individual and commercial.
- Based on distribution channels, the market is segmented into supermarkets/hypermarkets, specialty stores, online platforms, and others.
Ammunition is projected to Emerge as the Largest Segment
The frequent nature of consumption and product advancements offered by companies in terms of material, quality, and technology are contributing to the high share of this market segment. For instance, in February 2024, Remington Ammunition launched 22 Golden Hunter rim fire ammunition. The 22 Golden Hunter redefines rim fire hunting by providing hunters with unprecedented precision and performance.
Specialty Stores Segment to Hold a Considerable Market Share
The specialty store segment dominates the consumer purchase in the market owing to the requirement of physical interaction and experience by buyers before purchasing the products, as such equipment needs to be tested, tried, or worn before purchase to better understand usability, comfort, and confidence with the product. Further, regulatory requirements in certain countries allow the sale of such equipment through specifically licensed stores, creating a dominant position for this distribution channel type in the market.
Regional Outlook
The global hunting equipment and accessory market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Global Hunting Equipment and Accessory Market Growth by Region 2024-2031
North America Holds Major Market Share in Hunting Equipment and Accessory Market
North America holds a dominant position in the hunting equipment and accessory market owing to strong hunting culture, pro-hunting government laws, and an abundance of hunting gear and accessory manufacturers such as include American Outdoor Brands Corp., and Dick’s Sporting Goods, Inc. Further, the region has the high rate of population involvement in recreational outdoor activities such as hunting and fishing. Although the US's adoption rate is not as quick as that of developing economies that are expanding quickly, its strong infrastructure and core base of affluent consumers make it a sizable market nonetheless. For instance, the National Survey of Fishing, Hunting, and Recreational Activities 2022, revealed that 39.9 million people fished, 14.4 million hunted, and 148.3 million participated in at least one type of wildlife-watching activity including observing, feeding, or photographing fish and other wildlife in the US.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the global hunting equipment and accessory market include American Outdoor Brands Corp., Beretta Holding SA, Dick’s Sporting Goods, Inc., BPS Direct LLC and SPYPOINT, among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in July 2022, Beretta Holding completed the acquisition of RUAG Ammotec, by successfully finalizing the acquisition of 100.0% of the shares of the Swiss state-owned RUAG Ammotec Group. The acquisition will add 16 companies in 12 different countries and 2,700 people to Beretta Holding Group.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global hunting equipment and accessory market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. American Outdoor Brands Corp.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Beretta Holding SA
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Dick’s Sporting Goods, Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Hunting Equipment and Accessory Market by Product
4.1.1. Gun and Rifle
4.1.2. Archery
4.1.3. Ammunition
4.1.4. Auxiliary Equipment
4.1.5. Others (Duck Decoy)
4.2. Global Hunting Equipment and Accessory Market by Application
4.2.1. Individual
4.2.2. Commercial
4.3. Global Hunting Equipment and Accessory Market by Distribution Channel
4.3.1. Supermarkets/Hypermarkets
4.3.2. Specialty Stores
4.3.3. Online Platforms
4.3.4. Others (Retail)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East & Africa
6. Company Profiles
6.1. Alliant Techsystems, Inc.
6.2. Arsenal Firearms Italia
6.3. Boberg Arms Corp.
6.4. BPS Direct LLC
6.5. Buck Knives, Inc.
6.6. Colt Manufacturing Company LLC
6.7. Danner Manufacturing, Inc.
6.8. Intradeco Inc.
6.9. Remington Arms Co. Ltd.
6.10. Smith and Wesson Brands, Inc.
6.11. Spyderco, Inc.
6.12. SPYPOINT (9138-4529 Quebec Inc.)
6.13. Sturm Ruger and Co. Inc.
6.14. Under Armour, Inc.
6.15. Vista Outdoor Inc.
6.16. Williamson-Dickie Mfg. Co.
6.17. W.L. Gore & Associates
1. GLOBAL HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
2. GLOBAL HUNTING GUN AND RIFLE EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL ARCHERY HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL AMMUNITION HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
5. GLOBAL AUXILIARY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL OTHER HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
7. GLOBAL HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
8. GLOBAL HUNTING EQUIPMENT AND ACCESSORY FOR INDIVIDUAL MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. GLOBAL HUNTING EQUIPMENT AND ACCESSORY FOR COMMERCIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
11. GLOBAL HUNTING EQUIPMENT AND ACCESSORY VIA SUPERMARKETS/HYPERMARKETS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. GLOBAL HUNTING EQUIPMENT AND ACCESSORY VIA SPECIALTY STORES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
13. GLOBAL HUNTING EQUIPMENT AND ACCESSORY VIA ONLINE PLATFORMS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
14. GLOBAL HUNTING EQUIPMENT AND ACCESSORY VIA OTHER DISTRIBUTION CHANNELS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
15. GLOBAL HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
16. NORTH AMERICAN HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
17. NORTH AMERICAN HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
18. NORTH AMERICAN HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
19. NORTH AMERICAN HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
20. EUROPEAN HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
21. EUROPEAN HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
22. EUROPEAN HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
23. EUROPEAN HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
24. ASIA-PACIFIC HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
25. ASIA-PACIFIC HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
26. ASIA-PACIFIC HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
27. ASIA-PACIFIC HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
28. REST OF THE WORLD HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
29. REST OF THE WORLD HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
30. REST OF THE WORLD HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
31. REST OF THE WORLD HUNTING EQUIPMENT AND ACCESSORY MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
1. GLOBAL HUNTING EQUIPMENT AND ACCESSORY MARKET SHARE BY PRODUCT, 2023 VS 2031 (%)
2. GLOBAL HUNTING GUN AND RIFLE EQUIPMENT AND ACCESSORY MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL HUNTING ARCHERY EQUIPMENT AND ACCESSORY MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL AMMUNITION HUNTING EQUIPMENT AND ACCESSORY MARKET SHARE BY REGION, 2023 VS 2031 (%)
5. GLOBAL AUXILIARY EQUIPMENT AND ACCESSORY MARKET SHARE BY REGION, 2023 VS 2031 (%)
6. GLOBAL OTHER HUNTING EQUIPMENT AND ACCESSORY MARKET SHARE BY REGION, 2023 VS 2031 (%)
7. GLOBAL HUNTING EQUIPMENT AND ACCESSORY MARKET SHARE BY APPLICATION, 2023 VS 2031 (%)
8. GLOBAL HUNTING EQUIPMENT AND ACCESSORY FOR INDIVIDUAL MARKET SHARE BY REGION, 2023 VS 2031 (%)
9. GLOBAL HUNTING EQUIPMENT AND ACCESSORY FOR COMMERCIAL MARKET SHARE BY REGION, 2023 VS 2031 (%)
10. GLOBAL HUNTING EQUIPMENT AND ACCESSORY MARKET SHARE BY DISTRIBUTION CHANNEL, 2023 VS 2031 (%)
11. GLOBAL HUNTING EQUIPMENT AND ACCESSORY VIA SUPERMARKETS/HYPERMARKETS MARKET SHARE BY REGION, 2023 VS 2031 (%)
12. GLOBAL HUNTING EQUIPMENT AND ACCESSORY VIA SPECIALTY STORES MARKET SHARE BY REGION, 2023 VS 2031 (%)
13. GLOBAL HUNTING EQUIPMENT AND ACCESSORY VIA ONLINE PLATFORMS MARKET SHARE BY REGION, 2023 VS 2031 (%)
14. GLOBAL HUNTING EQUIPMENT AND ACCESSORY VIA OTHER DISTRIBUTION CHANNELS MARKET SHARE BY REGION, 2023 VS 2031 (%)
15. GLOBAL HUNTING EQUIPMENT AND ACCESSORY MARKET SHARE BY REGION, 2023 VS 2031 (%)
16. US HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
17. CANADA HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
18. UK HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
19. FRANCE HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
20. GERMANY HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
21. ITALY HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
22. SPAIN HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
23. REST OF EUROPE HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
24. INDIA HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
25. CHINA HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
26. JAPAN HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
27. SOUTH KOREA HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
28. REST OF ASIA-PACIFIC HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
29. LATIN AMERICA HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
30. MIDDLE EAST AND AFRICA HUNTING EQUIPMENT AND ACCESSORY MARKET SIZE, 2023-2031 ($ MILLION)
