Market Size of Archery Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Archery Equipment Market Analysis
The Archery Equipment market is projected to register a CAGR of 5.8% during the forecast period, 2022-2027.
In 2020, during COVID-19, many sports equipment industries including archery equipment affected due to the economic crisis. As outdoor sports activities were restricted due to the strict lockdown measure imposed by the government which led to the decline in sales of archery equipment. However, in 2021 market recorded a slight recovery due to the relaxed norms and the opening of sports clubs and recreational activities. Further, to overcome the pandemic some companies restructured their marketing initiatives to boost revenue. For instance, in December 2020, Toxon Technologies announced its Affiliate Program, which was designed to help independent archery stores in Canada generate revenue and connect with archers while store traffic was limited due to the pandemic. With the Affiliate Program, independent archery dealers sold Toxon's BOWdometer archery practice companion without having to carry additional inventory. BOWdometer is a tool that uses a combination of sensors to capture performance data during an archer's shot.
The archery sport is emerging as one of the most favored recreational activities and witnessing increased participation across different parts of the key geographies, which in turn drives the demand for archery equipment. Moreover, the growing number of women contestants and high investment and initiatives by governments in the sports sector are also contributing to the growth of the archery equipment market. For instance, in June 2022, the Youth Affairs and Sports Ministry of India approved a total sum of INR 75 Lac to host the "Khelo India National Ranking Women Archery Tournament" over six phases. The first phase of the tournament was held in April 2022 and was hosted by TATA Archery Academy, Jamshedpur. Through this initiative, the government aims to create a competitive environment for the young girls that desire to participate in the Olympic games.
Improving the infrastructure of sports clubs has allowed people to play archery sports clubs. Various gaming centers or gaming zones are opening up archery as a sport in their complexes which is expected to boost the archery equipment market during the forecast period.
Archery Equipment Industry Segmentation
Archery equipment refers to a range of products such as bows, arrows, targets, and other accessories used while playing archery sport. The archery equipment market is segmented by type, distribution channel, and geography. By type, the market is segmented into bows, arrows, targets, and other accessories. By distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, online retail stores, and other distribution channels. It provides an analysis of emerging and established economies across the world, comprising North America, Europe, South America, Asia-Pacific, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| By Type | |
| Bows | |
| Arrows | |
| Targets | |
| Other Accessories |
| By Distibution Channel | |
| Supermarkets/Hypermarkets | |
| Specialty Stores | |
| Online Retail Stores | |
| Other Distribution Channel |
| By Geography | |||||||||
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Archery Equipment Market Size Summary
The archery equipment market is experiencing a resurgence following the challenges posed by the COVID-19 pandemic, which initially led to a decline in sales due to lockdowns and restrictions on outdoor activities. As restrictions eased, the market began to recover, driven by increased participation in archery as a recreational activity. This growth is further supported by government initiatives and investments in the sports sector, which aim to promote archery and create competitive opportunities, particularly for women. The sport's rising popularity is also attributed to its health benefits, attracting a diverse demographic, including millennials, women, and children. Educational institutions are incorporating archery into their curricula, recognizing its potential to enhance mental stamina and self-confidence among students.
The market is characterized by intense competition among global and regional players, with companies like Escalade, Inc., New Archery Products, Inc., and PSE Archery, Inc. actively engaging in strategic expansions, product launches, and technological advancements. The Asia-Pacific region, in particular, is witnessing a surge in interest, with governments and sports authorities organizing tournaments and development programs to boost participation. This trend is expected to drive sales of archery equipment as more individuals, especially children, take up the sport. The market's growth is further bolstered by strategic acquisitions and product innovations, such as Toxon Technologies' BOWdometer Open Platform, which enhances the archery experience through real-time data integration.
Archery Equipment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Bows
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2.1.2 Arrows
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2.1.3 Targets
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2.1.4 Other Accessories
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2.2 By Distibution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Specialty Stores
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2.2.3 Online Retail Stores
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2.2.4 Other Distribution Channel
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 Spain
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East & Africa
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Archery Equipment Market Size FAQs
What is the current Archery Equipment Market size?
The Archery Equipment Market is projected to register a CAGR of 5.80% during the forecast period (2024-2029)
Who are the key players in Archery Equipment Market?
Escalade, Inc, New Archery Products, Inc., PSE Archery, Inc., Vista Outdoor Inc. and Easton Technical Products, Inc. are the major companies operating in the Archery Equipment Market.
