Survival Tools Market is expected to grow at a CAGR of Approximately Over 2022-2030

As per a recent report by Future Market Insights (FMI), global sales of survival tools are likely to soar at 7.4% CAGR through 2030. Growth will be driven by a growing sentiment on self-protection amidst a rapidly changing environment.

In the survival tools industry, which has witnessed moderate growth and expansion into the mainstream market, it is imperative for players to recognize their consumers and devise future-proof strategies (and products) to stand out among their peers.

Since January 2020, three important events have scaled up demand for survival kits – outbreak of COVID-19, bushfires in Australia, and assassination of Iranian military leader.

Key Findings

  • Pocket tools to remain preferred among consumers
  • Manufacturers continue to use stainless steel to develop survival tools
  • Adoption of survival tools to remain prominent in hiking activities
  • Players to invest in multi-brand stores for substantial sales of survival tools
  • North America and Europe to represent most lucrative opportunities for survival tools market players

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COVID-19 Impact on Survival Tools Market

While many industries are striving to click revenue targets as several countries, globally, come to grips with the COVID-19 pandemic, the survival tools market has been booming. Despite survival tools industry was not prepared for catastrophe of this scale, sales remain unaffected by the onset of the pandemic.

Demand for survival tools is increasing following COVID-19 contagion. Consumers are increasingly purchasing pocket tools, first aid kits, and ropes to prepare for doomsday scenarios.

The COVID-19 pandemic has triggered drastic changes in consumer lifestyle. Consumers are continuously seeking ways to stock up on essentials such as medicines, survival kits, and food.

While certain regions of hard-hit countries are opening up, consumers are still facing dearth of all sorts of odds and ends. In addition, as various regions are being exposed to the second wave of COVID-19 pandemic, there are uncertainties regarding further tightening of lockdown restrictions.

The COVID-19 recession has reset the bars for how manufacturers engage with suppliers and consumers. As these trends sweep across market landscape, survival tool manufacturers must rethink existing operating models and supply chains.

Survival Tools Market – Competitive Intelligence

The global survival tools market is highly fragmented, with several players racing towards capturing leading value share. In an effort to survive the rising market competition, manufacturers are focusing on new launches and acquisitions, for instance,

  • UST has developed new camping equipment that accent excellent durability and functionality. In addition, the company has started leveraging 100% recyclable packaging to its new offerings, and will phase out conventional packaging.
  • Tender Corporation has acquired Bushwacker Backpack & Supply, which is maker of Counter Assault label of personal-defense items such as bear spray and tools for self-defense and law enforcement.

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