Archery Equipment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Archery Equipment Market Analysis
The Archery Equipment market is projected to register a CAGR of 5.8% during the forecast period, 2022-2027.
In 2020, during COVID-19, many sports equipment industries including archery equipment affected due to the economic crisis. As outdoor sports activities were restricted due to the strict lockdown measure imposed by the government which led to the decline in sales of archery equipment. However, in 2021 market recorded a slight recovery due to the relaxed norms and the opening of sports clubs and recreational activities. Further, to overcome the pandemic some companies restructured their marketing initiatives to boost revenue. For instance, in December 2020, Toxon Technologies announced its Affiliate Program, which was designed to help independent archery stores in Canada generate revenue and connect with archers while store traffic was limited due to the pandemic. With the Affiliate Program, independent archery dealers sold Toxon's BOWdometer archery practice companion without having to carry additional inventory. BOWdometer is a tool that uses a combination of sensors to capture performance data during an archer's shot.
The archery sport is emerging as one of the most favored recreational activities and witnessing increased participation across different parts of the key geographies, which in turn drives the demand for archery equipment. Moreover, the growing number of women contestants and high investment and initiatives by governments in the sports sector are also contributing to the growth of the archery equipment market. For instance, in June 2022, the Youth Affairs and Sports Ministry of India approved a total sum of INR 75 Lac to host the "Khelo India National Ranking Women Archery Tournament" over six phases. The first phase of the tournament was held in April 2022 and was hosted by TATA Archery Academy, Jamshedpur. Through this initiative, the government aims to create a competitive environment for the young girls that desire to participate in the Olympic games.
Improving the infrastructure of sports clubs has allowed people to play archery sports clubs. Various gaming centers or gaming zones are opening up archery as a sport in their complexes which is expected to boost the archery equipment market during the forecast period.
Archery Equipment Market Trends
This section covers the major market trends shaping the Archery Equipment Market according to our research experts:
Increasing Participation in Archery Sport
Rising consumer interest in archery sport as a recreational activity owing to the increased importance of physical fitness and well-being among the millennial population is a significant factor driving the demand for archery sports equipment. In the last few years, people have gained knowledge about the health benefits associated with archery sports which is accelerating the participation rate, especially among women and children. Further, Governments across different countries are including archery as a key sports activity in the school curriculum, as the practice of archery is believed to benefit children in many ways such as it helps cultivate mental stamina and self-confidence in young children. For instance, in certain schools in the United States, USA Archery and National Field Archery Association offer several programs such as National Archery in the Schools Program (NASP), Junior Olympic Archery Development Program (JOAD), and After School Archery Program (ASAP) to encourage school children to participate in archery.
Asia-Pacific Emerges as the Fastest Growing Region
The youth population in Asia-pacific is increasingly inclined towards sports increasingly preferring adventure sports to utilize leisure time which in turn drives the growing participation in archery sports, contributing to the growth of the archery equipment market in the region. Furthermore, sports authorities and government bodies of different countries such as Singapore, India, Japan, and South Korea are organizing various national level and regional archery tournaments and long-term development programs to encourage participation and improve the standard of archery sports to win more medals in the world archery championships. Archery equipment sales are likely to witness an increase on account of the steadily growing adoption of the sport among children as modern parents are aware of the cognitive health benefits associated with archery. It will contribute to more people taking up the sport, translating into new avenues of growth.
Archery Equipment Industry Overview
The archery equipment market is highly competitive with the presence of global and regional players. A few of the key players operating in the global archery equipment market are Escalade, Inc, New Archery Products, Inc., PSE Archery, Inc., Jas. D. Easton, Inc, Vista Outdoor Inc., Mathews Archery Inc., and Axion Archery. Major players in the market are adopting various strategic approaches such as regional expansion, product launches, technological development, and mergers and acquisitions to enhance their position in the market. For instance, in January 2021, Toxon Technologies launched the BOWdometer Open Platform. The BOWdometer Open Platform allows archery manufacturers and app developers to use real-time shooting data from the BOWdometer archery practice companion in their products. This data can is available to enhance existing products or develop new products and apps for all archers from target archers to bowhunters.
Archery Equipment Market Leaders
-
Escalade, Inc
-
New Archery Products, Inc.
-
PSE Archery, Inc.
-
Vista Outdoor Inc.
-
Easton Technical Products, Inc.
*Disclaimer: Major Players sorted in no particular order
Archery Equipment Market News
- In July 2022, JDH Capital Company announced the acquisition of Pure Archery Group, a leading manufacturer of premium archery products that owns and operates several leading archery brands including Bowtech, Diamond, Excalibur, Black Gold, TightSpot, RipCord, and Octane.
- In April 2021, Gridiron Capital, LLC announced that its portfolio company, Good Sportsman Marketing Outdoors, a company that is comprised of several outdoor and sporting consumer goods companies acquired Plano Synergy's hunting accessories and archery brands from Pure Fishing Inc. Adding these brands to GSM Outdoors' portfolio provides retailers and ultimately consumers with stronger 'one-stop shop' offerings.
- In February 2021, Alpine Archery introduced a series of American-made quivers, compatible with most compound bows, crossbows, and recurves. The updated line includes the compact, lightweight Power Loc 4-arrow quiver with a hanging hook as well as the Soft Lock and Bear Claw quivers, both available in 3- and 5- arrow configurations.
Archery Equipment Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Bows
5.1.2 Arrows
5.1.3 Targets
5.1.4 Other Accessories
5.2 By Distibution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Specialty Stores
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channel
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Escalade, Inc
6.3.2 New Archery Products, Inc.
6.3.3 PSE Archery, Inc.
6.3.4 Jas. D. Easton, Inc
6.3.5 Vista Outdoor Inc.
6.3.6 Mathews Archery Inc.
6.3.7 Axion Archery
6.3.8 The Bohning Co. Ltd.
6.3.9 Darton Archery LLC
6.3.10 SRS Archery
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
Archery Equipment Industry Segmentation
Archery equipment refers to a range of products such as bows, arrows, targets, and other accessories used while playing archery sport. The archery equipment market is segmented by type, distribution channel, and geography. By type, the market is segmented into bows, arrows, targets, and other accessories. By distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, online retail stores, and other distribution channels. It provides an analysis of emerging and established economies across the world, comprising North America, Europe, South America, Asia-Pacific, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| By Type | |
| Bows | |
| Arrows | |
| Targets | |
| Other Accessories |
| By Distibution Channel | |
| Supermarkets/Hypermarkets | |
| Specialty Stores | |
| Online Retail Stores | |
| Other Distribution Channel |
| By Geography | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Archery Equipment Market Research FAQs
What is the current Archery Equipment Market size?
The Archery Equipment Market is projected to register a CAGR of 5.80% during the forecast period (2024-2029)
Who are the key players in Archery Equipment Market?
Escalade, Inc, New Archery Products, Inc., PSE Archery, Inc., Vista Outdoor Inc. and Easton Technical Products, Inc. are the major companies operating in the Archery Equipment Market.
Which is the fastest growing region in Archery Equipment Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Archery Equipment Market?
In 2024, the North America accounts for the largest market share in Archery Equipment Market.
What years does this Archery Equipment Market cover?
The report covers the Archery Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Archery Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Archery Equipment Industry Report
Statistics for the 2024 Archery Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Archery Equipment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
