The Asia-Pacific hiking gear and equipment market is anticipated to grow at a lucrative CAGR of 5.0% during the forecast period (2020-2026). The market growth is mainly attributed to the increase in outdoor activities in the region. The importance of outdoor sporting events has been increasing gradually over the years due to fitness trends, health consciousness, and recreational activities.
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Further, according to PBS, the Himalayas are one of the most preferred destinations in Asia-Pacific among hiking enthusiasts. It is located between 1,650 and 16,400 ft, this mountain range is visited by a large number of tourists from across the globe. With the increasing, disposable income of the people in the region, domestic tourism on the Himalayan mountain range is also on the rise. It has resulted in a significant rise in demand for hiking equipment.
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This shift in opting for a fit and healthy lifestyle in addition, the rising rate of urbanization has also positively impacted the hiking gear and equipment market. Moreover, a shift in demographics and increased importance of healthy living is driving recreational outdoor activities, thus causing the boost in demand for hiking gear and equipment.
Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered-
o By Product
o By End-User
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