As the popularity of various snow sports like skiing is on a rise, the market for snow sports accessories is exhibiting a steady growth. Besides, many countries in the world are making massive investments in developing snow sports infrastructure. Due to this, there is an increased participation by people in snow sports, and more and more people are indulging in them.
Moreover, governments in countries like South Korea and China are make huge investments in developing snow sports infrastructure such as ski slopes and night ski, which further aids in the expansion of the snow sports accessories market. Also, a growing awareness about health and fitness and rise of ecommerce is also contributing to the expansion of snow sports accessories market. However, the proliferation of counterfeit products and rising cost of snow sports accessories are factors hampering the growth of this market. According to Fact.MR, the global snow sports accessories market is slated to touch a value of nearly US$ 1,310 Mn in the year 2022 and exhibit a sluggish CAGR during the assessment period.
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4 Forecast Highlights on Global Snow Sports Accessories Market
- As per the forecast of Fact.MR, the sunglasses segment is slated to touch a value of nearly US$ 260 Mn in the year 2022. This represents a sluggish CAGR growth during the assessment period of 2017-2022. The sunglasses segment is estimated to account for nearly one-fifth of the revenue share of the product type segment by the year 2017 end and is expected to gain in market share by the year 2022 end.
- As per the forecast of Fact.MR, the franchised stores segment will reach a value of nearly US$ 237 Mn in the year 2017. This represents a sluggish CAGR growth during the forecast period. The franchised stores segment is estimated to account for more than one-fifth of the revenue share of the channel segment in the year 2017 end and is expected to lose market share by the end of the year 2022.
- As per the forecast of Fact.MR, the economy segment is slated to reach a value of nearly US$ 467 Mn in 2022. The economy segment is expected to lose some market value by the end of the year 2022. The largest share is contributed by the North America region in the economy segment.
- Fact.MR forecasts the men snow sports accessories segment to grow from US$ 603 Mn in 2017 to nearly US$ 686 Mn in 2022. This represents a compound annual growth rate (CAGR) of 2.6% from 2017 to 2022.
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The report has also profiled leading players in the global market for snow sports accessories, which will remain active through 2022. These include companies such as Skis Rossignol SAS, Fischer Sports GmbH, NIKE, Inc., Lucky Bums, LLC, The Burton Corporation, Amer Sports Corporation, Olympia Sports, Inc., Head NV and Black Diamond, Inc.
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