Sport
Exploring the Lucrative Snow Sports Apparel Market Size Growing From $10.1 Billion in 2022 to $21.01 Billion by 2030, At 11.1% of CAGR | Investment Opportunities, Industry Analysis, and Revenue Forecast
Snow sports apparel is worn by sportspersons during snowboarding and skiing. It protects them from getting frozen on the snow-clad hilltops. Reportedly, they are water-repellent and can withstand extreme climatic conditions. The product offers beneficial features such as body mapping construction, underarm ventilation, comfortable stretch, elastic sleeve cuffs, backpack-compatible hand pockets, and adjustable sleeves. There is a growing popularity of snow sports apparel in Western countries as there is a huge snowfall in these countries and the government of these countries aiding winter sports events.
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A rise in preference towards outdoor events such as snow sports among the urban population with surging awareness about physical & mental fitness will upsurge the growth of the global snow sports apparel market across the globe. The surging trend of winter sports events witnessed in the countries such as Australia and Brazil will promote the demand for snow sports apparel. Rise in leisure & recreational activities such as mountain climbing, trekking, mountaineering, and snowboarding will spearhead the business space. Flourishing e-commerce activities has contributed substantially towards the global market proceeds in recent years.
Breakthroughs in fabric manufacturing technology and focus on the safety of sports apparel are some of the factors that are likely to bolster the expansion of the snow sports apparel market across the globe. An increase in the participation of the number of sportswomen in snow sports events will further scale up the size of the market growth. Rising winter sports publicity & promotions along with the popularity of the Winter Olympics has translated into humungous growth of the market globally.
Increments in apparel costs and seasonal fluctuations resulting in climatic changes can disrupt the growth of the snow sports apparel industry globally. Apart from this, the increase in temperatures witnessed in the countries such as Canada , the UK, Germany , and the U.S. in recent years can make conditions unfavorable for snow sports activities, thereby creating hurdles in the industry growth path.
The growing inclination of the millennial population towards outdoor sports activities such as snow sports will open new growth opportunities for the snow sports apparel market across the globe. Moreover, these millennials are massively influenced due to social networking sites such as Facebook, Pinterest, and Instagram.
Vendors are facing huge challenges with respect to supply chain management activities of various fabrics that are related to snow sports. Moreover, the easy availability of counterfeit products can be a major challenge to the growth of the global snow sports apparel industry.
In terms of product, the global snow sports apparel market is divided into top apparel, accessories, and bottom apparel segments. Furthermore, the top apparel segment, which accounted for more than 50% of the global market share in 2022, is projected to lead the segmental surge over the analysis period. The segmental expansion over the next eight years can be due to a rise in the consumer demand for top apparel offering cold resistance. Furthermore, bottom apparel is slated to record the fastest CAGR over the projected timeline subject to rising awareness among the end-users about personal safety during snow sports activities.
Based on the demographics, the global snow sports apparel industry is bifurcated into men, children, and women segments. Furthermore, the men segment, which accounted majorly for the global industry share in 2022, is predicted to drive the demographics landscape during the coming years. Additionally, the growth of the segment over the forecast timeline can be owing to the use of fleece, insulated shell, and soft shell by men in snow sports activities.
In terms of distribution channel, the global snow sports apparel market is sectored into offline and online segments. Moreover, the offline segment, which accounted for more than 70% of the global market share in 2022, is predicted to dominate the segmental growth in the coming years. The segmental growth over 2023-2030 can be credited to the growing purchase of snow sports apparel by consumers from supermarkets, hypermarkets, and other retail stores. Moreover, growing consumer preference for physical verification of products before the purchase has led to the massive demand for offline transactions, thereby spurring segmental growth.
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The North American region, which contributed to a major share of the global snow sports apparel market in 2022, will maintain its market domination in the forthcoming years. The growth of the snow sports apparel market in North America during the anticipated timeline can be due to the growing popularity of winter sports such as cross-country skiing, snow-shoeing, and snowmobiling. Due to frozen lakes and rivers, sportspersons and sports enthusiasts enjoy ice skating in countries such as the U.S. and Canada .
Furthermore, the Asia-Pacific snow sports apparel industry is anticipated to register the fastest CAGR of nearly 6.5% over the predicted timeline. The regional market growth over 2023-2030 can be owing to the presence of professional snow sports leagues such as ice hockey, figure skating, and the Asian Winter Games. Moreover, the rise in urbanization in Australia , China , and India will contribute remarkably towards the global industry share.
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