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Global Hunting Equipment & Accessories Market to reach USD 35.49 billion by the end of 2029

Global Hunting Equipment & Accessories Market Size study & Forecast, by Product (Gun & Rifles, Archery, Ammunition, Auxiliary Equipment, Other), by Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online) and Regional Analysis, 2022-2029

Product Code: OIRGSF-68150864
Publish Date: 25-01-2023
Page: 200

Global Hunting Equipment & Accessories Market is valued at approximately USD 19.9 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2022-2029. Hunting equipment & accessories are specially designed items for hunting any animal. These equipment & accessories are created in a variety of ways to meet the needs of the hunters. Gun & rifles, archery, ammunition, auxiliary equipment, and many other products are highly adopted by hunters. The surging growth of the safari tourism industry, the growing popularity of hunting as an outdoor recreational activity, and the increasing prominence of hunters as conservationists are some major factors for the growth of the market.

The rising inclination towards hunting is directly associated with the demand for hunting equipment and accessories in the global market. According to Statista analysis, in 2019, the market size of the hunting and trapping sector in the United States was estimated to be valued at USD 827.9 million, which is projected to reach USD 878.3 million. Therefore, the growth of the hunting and trapping sector is augmenting the growth of the hunting equipment & accessories market. Moreover, rising investment in new ammunition designs, as well as the growing need for environmental conservation, are presenting various lucrative opportunities over the forecasting years. However, the easy availability of substitute products and the high cost of accessories are challenging the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Hunting Equipment & Accessories Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the growing popularity of outdoor recreational activities, along with the presence of well-established market players. Whereas, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as the growing trend of hunting and fishing trade shows, as well as rising inclination towards hunting in the market space.

Major market players included in this report are:
American Outdoor Brands Corp.
Beretta Holding SA
BPS Direct LLC
Buck Knives, Inc.
Dick’s Sporting Goods, Inc.
Under Armour, Inc.
Spyderco, Inc.
Sturm Ruger and Co. Inc.
Vista Outdoor Inc.

Recent Developments in the Market:
 In July 2022, Beretta Holding S.A. announced that the company acquired RUAG Ammotec Group that added 16 companies in 12 different countries and 2,700 people to Beretta Holding Group. The objective of this acquisition is to offer premium products including small arms, ammunition, optics, clothing, accessories, and electro-optics.
 In December 2021, Vista Outdoor Inc. acquired Stone Glacier- the backcountry hunting gear company, giving Vista a foothold in the packs, camping equipment, and technical apparel categories
 In July 2020, FORLOH unveiled the launch of premium technical apparel with superior technology. Also, with this launch FORLOH.com, the brand’s flagship retail store opened in Whitefish, Montana, the same city as its headquarters

Global Hunting Equipment & Accessories Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Distribution Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product
Gun & Rifles
Auxiliary Equipment

By Distribution Channel
Specialty Stores

By Region
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Hunting Equipment & Accessories Market, by Region, 2019-2029 (USD Billion)
1.2.2. Hunting Equipment & Accessories Market, by Product, 2019-2029 (USD Billion)
1.2.3. Hunting Equipment & Accessories Market, by Distribution Channel, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Hunting Equipment & Accessories Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Hunting Equipment & Accessories Market Dynamics
3.1. Hunting Equipment & Accessories Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Rising inclination towards hunting Surging growth of the safari tourism industry
3.1.2. Market Challenges Easy availability of substitute products High cost of accessories
3.1.3. Market Opportunities Rising investment in the new ammunition designs Growing need for environmental conservation
Chapter 4. Global Hunting Equipment & Accessories Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Hunting Equipment & Accessories Market, by Product
6.1. Market Snapshot
6.2. Global Hunting Equipment & Accessories Market by Product, Performance – Potential Analysis
6.3. Global Hunting Equipment & Accessories Market Estimates & Forecasts by Product 2019-2029 (USD Billion)
6.4. Hunting Equipment & Accessories Market, Sub Segment Analysis
6.4.1. Gun & Rifles
6.4.2. Archery
6.4.3. Ammunition
6.4.4. Auxiliary Equipment
6.4.5. Other
Chapter 7. Global Hunting Equipment & Accessories Market, by Distribution Channel
7.1. Market Snapshot
7.2. Global Hunting Equipment & Accessories Market by Distribution Channel, Performance – Potential Analysis
7.3. Global Hunting Equipment & Accessories Market Estimates & Forecasts by Distribution Channel 2019-2029 (USD Billion)
7.4. Hunting Equipment & Accessories Market, Sub Segment Analysis
7.4.1. Supermarkets/Hypermarkets
7.4.2. Specialty Stores
7.4.3. Online
Chapter 8. Global Hunting Equipment & Accessories Market, Regional Analysis
8.1. Hunting Equipment & Accessories Market, Regional Market Snapshot
8.2. North America Hunting Equipment & Accessories Market
8.2.1. U.S. Hunting Equipment & Accessories Market Product breakdown estimates & forecasts, 2019-2029 Distribution Channel breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Hunting Equipment & Accessories Market
8.3. Europe Hunting Equipment & Accessories Market Snapshot
8.3.1. U.K. Hunting Equipment & Accessories Market
8.3.2. Germany Hunting Equipment & Accessories Market
8.3.3. France Hunting Equipment & Accessories Market
8.3.4. Spain Hunting Equipment & Accessories Market
8.3.5. Italy Hunting Equipment & Accessories Market
8.3.6. Rest of Europe Hunting Equipment & Accessories Market
8.4. Asia-Pacific Hunting Equipment & Accessories Market Snapshot
8.4.1. China Hunting Equipment & Accessories Market
8.4.2. India Hunting Equipment & Accessories Market
8.4.3. Japan Hunting Equipment & Accessories Market
8.4.4. Australia Hunting Equipment & Accessories Market
8.4.5. South Korea Hunting Equipment & Accessories Market
8.4.6. Rest of Asia Pacific Hunting Equipment & Accessories Market
8.5. Latin America Hunting Equipment & Accessories Market Snapshot
8.5.1. Brazil Hunting Equipment & Accessories Market
8.5.2. Mexico Hunting Equipment & Accessories Market
8.5.3. Rest of Latin America Hunting Equipment & Accessories Market
8.6. Rest of The World Hunting Equipment & Accessories Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. American Outdoor Brands Corp. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Beretta Holding SA
9.2.3. BPS Direct LLC
9.2.4. Buck Knives, Inc.
9.2.5. Dick’s Sporting Goods, Inc.
9.2.7. Under Armour, Inc.
9.2.8. Spyderco, Inc.
9.2.9. Sturm Ruger and Co. Inc.
9.2.10. Vista Outdoor Inc.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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