Hunting Equipment & Accessories Market Size, Share, Growth & Analysis 2034
The Global Hunting Equipment & Accessories Market has witnessed continuous growth in the last few years and is projected to grow even further during the forecast period of 2024-2033. The assessment provides a 360° view and insights - outlining the key outcomes of the Hunting Equipment & Accessories market, current scenario analysis that highlights slowdown aims to provide unique strategies and solutions following and benchmarking key players strategies. In addition, the study helps with competition insights of emerging players in understanding the companies more precisely to make better informed decisions.
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📌 Recent Developments
The global market was estimated at USD 22.53 billion in 2023, projected to grow to USD 38.27 billion by 2030 at a CAGR of 7.9%
Another forecast suggests a size of USD 27 billion by 2025, escalating to USD 54.7 billion by 2035, with a CAGR of 7.3%
🔍 Drivers
Rising participation in recreational hunting, supported by revenue from hunting licenses (which are often reinvested in wildlife conservation)
Technological innovation such as smart gear, customizable accessories, and advanced optics and ammunition designs boosting consumer interest
Growth in the safari tourism industry and increased governmental support for regulated hunting activities
⚖️ Restraints
High cost of accessories and equipment, especially advanced products, limits accessibility for some buyer segments
Legal and regional restrictions related to game species or weapon use in certain countries hinder market reach
🌍 Regional Segmentation Analysis
North America accounted for over 55% market share in 2021–23 and remains the dominant region
Asia-Pacific, particularly China, is expected to register the fastest CAGR from 2024 onward
Europe, South America, and MEA show steady growth driven by hunting culture, disposable income, and evolving regulations
🔄 Emerging Trends
Rising integration of smart technologies like GPS tracking, laser range finders, and digital targeting tools into hunting gear
Growth in sustainable and eco-friendly ammunition (e.g. biodegradable bullets) and weather-adaptive gear
Expansion of online and direct-to-consumer channels, with a shift from traditional retail to e-commerce platforms
💡 Top Use Cases
Recreational hunters using rifles, bows, optics, and safety gear.
Professional and commercial hunters, including guided safari operations.
Sport shooting enthusiasts, competition shooters, and law enforcement/military training.
Support gear use: optics, GPS, protective clothing, etc.
🚧 Major Challenges
Financing limitations for high-value equipment among casual users.
Ensuring legal compliance, especially with firearms and ammunition.
Dealing with market fragmentation and competition from smaller or niche eco-conscious brands
🧭 Attractive Opportunities
Ethical hunting movements promoting conservation-friendly gear and licensing revenues.
Expanding into high-growth APAC markets, especially in China and Southeast Asia.
Digital and smart hunting equipment, including GPS-enabled devices and gear paired with mobile applications.
Eco-innovations: lead-free ammunition, recyclable optics, sustainable clothing materials.
🚀 Key Factors of Market Expansion
Rising global interest in outdoor recreation and hunting sports.
Continuing technological innovation in optics, smart gear, and ammunition design.
Expansion of online retail and DTC models.
Government programs promoting licensed and regulated hunting.
Growth of eco-conscious consumers driving demand for ethical and sustainable products.
📊 Market Size & Growth Summary
| Year / Period | Market Size (USD Bn) | Forecast / CAGR |
|---|---|---|
| 2023 | ~22.53 | |
| 2025 | ~27.0 | ~7.3% CAGR (to 2035) |
| 2030 | ~38.27 | ~7.9% CAGR (2024–30) |
| 2035 | ~54.7 | ~7.3% CAGR (2025–35) |
🏢 Leading Companies in the Market
Top players with strong brand presence and product diversity:
Vista Outdoor Inc. – parent company of Bushnell optics and Remington Ammunition
American Outdoor Brands, Inc. (formerly Smith & Wesson Holding) – high-performance gear & accessories for hunting and shooting
Sturm, Ruger & Co., O.F. Mossberg & Sons, Beretta Holding SA – prominent firearm and weapons system suppliers
Bushnell Corporation, Vortex Optics, Leupold & Stevens, Garmin – known for optics, tracking devices, and GPS hunting technologies
Others: Buck Knives, Spyderco, SPYPOINT, Easton & Pure Fishing, DICK’s Sporting Goods, Under Armour
These firms account for roughly 50% of market share collectively, with top-tier players such as Vista, American Outdoor, ATK (Ruger) leading the space; next tier includes optics and tech-focused brands like Garmin and Bushnell; the rest covers emerging niche and regional innovators
Want deeper insights into any company’s product lines, revenue data, or R&D focus? Or perhaps a breakdown by product type (e.g. ammunition vs optics) or regional submarkets? Happy to help!
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