Global Ski Market Set To Thrive: Projections Point To Steady Growth At A CAGR Of More Than 3% As Per The Business Research Company's Ski Global Market Report 2023
LONDON, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The Business Research Company in its report, "Ski Global Market Report 2023," providing insights into the anticipated growth and dynamics of the global ski market. The market is poised to exhibit substantial expansion, with a projected compound annual growth rate (CAGR) of 4.2%, taking the market from $1.46 billion in 2022 to $1.53 billion in 2023. The ski market is expected to continue its ascent, reaching $1.76 billion by 2027 at a CAGR of 3.6%.
Driving Growth: Increasing Recreational Activities
The ski market's growth is propelled by the rising trend in recreational activities. As outdoor recreation gains popularity, skiing emerges as a favored leisure sport, offering both enjoyment and fitness benefits. In 2021, the Outdoor Industry Association reported a 6.9% increase in Americans aged six and over engaging in outdoor recreation, reaching 164.2 million individuals. The ski market stands to benefit from this surge in recreational activities, further fueling its growth.
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https://www.thebusinessresearchcompany.com/report/ski-global-market-report
Key Players Shaping the Industry
Major players in the ski market, including Decathlon SA, Amer Sports, and Groupe Rossignol, play a pivotal role in steering the industry's trajectory. Their market presence and innovative strategies contribute to the vitality of the ski market.
Trend Watch: Product Innovation in Skiing
A notable trend in the ski market is the emphasis on product innovation. Leading companies, such as Fischer Sports, are focusing on developing environmentally conscious and technologically advanced products. Fischer Sports, for example, introduced the Ranger series skis with a commitment to minimizing environmental impact. These skis incorporate recycled materials and environmentally friendly components, reflecting a broader industry trend towards sustainability and innovation.
Strategic Acquisitions: Strengthening Industry Capabilities
Strategic acquisitions also shape the ski market landscape. La Soie Group's acquisition of Meditec in August 2021 demonstrates the industry's commitment to enhancing research and development, expanding production capacity, and fortifying industrial platforms. Meditec, a Germany-based sports company specializing in manufacturing snowboards, skis, kiteboards, and wakeboards, now operates under the La Soie Group umbrella.
Market Segmentation: Insights for Industry Stakeholders
The global ski market is segmented based on product type, distribution channels, and end-users. The segmentation includes categories such as Skis and Poles, Ski Boots, Ski Protective Gear and Accessories, and targets diverse end-users such as Men, Women, and Kids. This comprehensive segmentation provides valuable insights for industry stakeholders seeking to understand market dynamics and tailor their strategies accordingly.
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In conclusion, The Business Research Company's Ski Global Market Report 2023 serves as a strategic resource for stakeholders seeking to capitalize on the growth opportunities within the ski market. With a robust forecast and insights into key trends, players in the industry can make informed decisions to stay ahead of the competition. From major corporations to emerging businesses, leveraging the report's findings can guide stakeholders in shaping successful strategies for sustained growth in the dynamic global ski market.
Ski Global Market Report 2023 by The Business Research Company provides insights on the ski market size, ski market segments, ski market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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