Archery Equipment and Accessories Market Size, Share, Growth, and Industry Analysis, By Type (RecurveBow, CompoundBow, Barebow, Arrows, and Others), By Application (Hunting, Sports, and Others), and Regional Forecast to 2032

ARCHERY EQUIPMENT AND ACCESSORIES MARKET OVERVIEW

The global archery equipment and accessories market size was USD 426.16 million in 2024 and is projected to touch USD 756.8 million by 2032, exhibiting a CAGR of 6.59% during the forecast period.

Archery equipment is a variety of expert tools employed in the sport of shooting. They are designed with precision and care and are designed to ensure accuracy and enhance the archer’s performance. The creation of these tools involves a meticulous process. The modern resources including fiberglass, carbon fiber, and aluminum are generally utilized for construction. These markets offer durability and improved performance. The advantages of shotgun items are manifold and it promotes focus, discipline, and physical fitness while honing precision and concentration skills.

The growing participation in archery competitions and events, and rising adoption of shooting as a competitive sport are improving the market growth. The market is expanding due to an increasing curiosity in archery as a recreational activity. Additionally advancements in technology most important to the development of more precise and efficient kits are supporting the market growth.

GLOBAL CRISES IMPACTING ARCHERY EQUIPMENT AND ACCESSORIES MARKETCOVID-19 IMPACT or RUSSIA-UKRAINE WAR IMPACT or ISRAEL-HAMAS WAR IMPACTCOVID-19 IMPACT

Archery Equipment and Accessories Industry Had a Negative Effect Due to Financial Crises during COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Many sports equipment industries experienced financial difficulties during the COVID-19 pandemic. The shooting gears industry has suffered significant losses due to the spread of the coronavirus. The government ordered a nationwide lockdown to stop and control the spread of the virus illness, but this severely disrupted the supply chain for raw materials and the production cycle. The government’s lockdown and restrictions on participation in outdoor sports during the pandemic have resulted in a significant drop in demand for products related to shooting products. To prevent the spread of the disease, this led to a significant reduction in population growth, even after limitations were removed from sports clubs many people are still reluctant to go there.

LATEST TREND

"Multi-Channel Distribution of Archery Equipment to Drive Market Growth"

The shotgun gear has gained significant popularity among target archers and bowhunters. The durability of kit has improved significantly with the advent of modern materials and technologies. This platform fulfills both hobbyists and professionals and offers insights to optimize performance. Companies are expanding their reach by using both offline and online retail channels. Hypermarkets, supermarkets, department stores, and specialty sports retailers are extensive offline retail options. Simultaneously, online retailing platforms have become essential sales channels. This multi-channel distribution strategy increases market visibility and enables engagement with a diverse customer base.

ARCHERY EQUIPMENT AND ACCESSORIES MARKET SEGMENTATION

BY TYPE

Based on Type, the global market can be categorized into recurve bow, compound bow, barebow, arrows, and others

• Recurve Bow: It is the modern equivalent of the traditional bows that have been made and used for thousands of years. It is fitted with sights and stabilizers to improve shooting and is the only kind of bow used in the Olympics game.
• Compound Bow: This type of bow is designed for maximum efficiency and power and using a system of pulleys and cables means that less physical strength is needed from the archer and it is easier to hold the bow at full draw and making the compound much more accurate from a greater distance than other types of bow.
• Bare bow: This shooting is done using a recurve bow, but without stabilizers, sight and any other accessories. It is a great foundation for moving on to any other kind of bow, as barebow archers work on consistency of draw length and careful aim.
• Arrows: IT is another crucial segment, and their market dynamics are influenced by advancements in materials and manufacturing techniques. The customization options available such as adjustable fletching and interchangeable tip that allows sportspersons to fine-tune their equipment for optimal performance.
• Others: The others’ category includes niche products such as bowstrings, bow cases, and maintenance tools. While these items may not command as large a market share as primary categories, they are essential for the upkeep and longevity of shooting gear. The increasing emphasis on regular maintenance and the availability of high-quality maintenance kits are expected for the diverse and dynamic nature of the market.

BY APPLICATION

Based on application, the global market can be categorized into hunting, sports, and others

• Hunting: It is another significant application particularly in regions with abundant wildlife and legal provision for bow hunting; it is preferred by many for its challenges and skill required, distinguishing it from firearm hunting. The demand in this segment is driven by specialized equipment that offers power and accuracy, such as compound bows with high draw weights and broad head arrows designed for effective game hunting. Seasonal variations and hunting regulations also influence market dynamics in this segment.
• Sports: Sports, encompassing competitive shooting, is a major driver of the market, with the inclusion of high-profile international competitions there is a consistent demand for top-tier equipment. Competitive archers require precision-engineered bows and arrows to enhance their performance, hence, fostering a market for high-quality, professional-grade archer gear.
• Others: The other application category includes unique uses of the product such as historical reenactments, theatrical, performances, and educational programs. These niche markets, though smellers in scale, contributed to the overall diversity of the market.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

DRIVING FACTORS

"Growing Awareness about the Physical and Mental Benefits of Archery to Boost the Market"

The growing attribute for the archery equipment and accessories market growth is the increasing awareness about the holistic benefits of shooting. It is recognized for its positive influence on physical fitness, mental well-being, and overall relief beyond its role as a recreational pursuit. As individuals seek ways to lead balanced lifestyles, this offers a distinct avenue for self-improvement. Simultaneously, the repetitive actions involved in shooting aid in enhancing muscular strength, hand-eye coordination, and posture. This dual advantage of fostering mental acuity and physical health has attracted a diverse population, including both seasoned athletes and newcomers.

"Rise of International Sports Events and Inclusion in School Curriculums to Expand the Market"

Another growing aspect which is increasing the market growth is due to the rise of international sports events centered around crossbows and its inclusion in school curriculums. The prominence of shooting in global competitions, such as the Olympics and regional tournaments, has elevated the sport’s profile, drawing attention from enthusiasts and aspiring athletes worldwide. This heightened exposure has not only cultivated a sense of admiration but has also spurred demand for high-quality products to improve performance. Furthermore, the integration of bow and arrow into educational institutions’ curricula has introduced the sport to new colleges that recognize the value of promoting diverse physical activities as a skill that combines focus, discipline, and coordination.

RESTRAINING FACTOR

"Stringent Regulations by the Government to Potentially Impede Market Growth"

A limiting factor that can impede the market growth is the stringent regulations surrounding hunting and the use of shooting tools in certain regions. Changes in legislation, hunting bans, and wildlife conservation efforts can significantly impact market dynamic. Manufacturers and retailers have to stay to meet the policy changes and adapt their strategies accordingly. In addition, ensuring obedience with safety standards and promoting liable use of the kits can help mitigate some of these challenges. Furthermore, the cost of these products is unaffordable to many middle-class people as it is high. The high cost of the product is likely to resist the population for adopting it. Additionally, shooting is professionally limited to a minimal population due to the cost of its raw materials hindering the market growth.

OPPORTUNITY

"Expanding Demographic and Technological Advancements to Create Opportunity for the Market"

One of the significant opportunities in the market is the expanding demographic of shotgun enthusiasts. As more young people take an interest in shooting, influenced by pop culture and sports events, there is potential to capture a new customer base. Companies can leverage social media and digital marketing strategies to engage this younger audience, showcasing the appeal of shotgun through interactive content and influencer partnerships, additionally, developing youth-specific products and beginner-friendly kits can help nurture early interest and brand loyalty. Another potential way lies in technological development and improvement. The incorporation of smart technologies into kits, such as digital sights, rangefinders, and app-enabled training aids, can attract tech-savvy consumers. They are offering high-tech features that enhance the user experience as well as differentiate products in the market.

CHALLENGE

"Presence of Counterfeit Equipment Could Be a Potential Challenge for Market Growth"

The market is facing challenges that can impede the market growth due the existence of fake products. The market is a mix of well-established brands and local competitors. The existence of local brands offers customers a range of affordable options. The proliferation of phony products poses a barrier to established players in the industry. These imitation items that are often sold at lower prices can harm the reputation and revenues of worldwide recognized companies. Manufacturers have taken steps to address this issue, issuing public statements and warnings on their websites to protect consumers and retailers.

ARCHERY EQUIPMENT AND ACCESSORIES MARKET REGIONAL INSIGHTS

• NORTH AMERICA

North America holds an important position on the market with a well-established shooting culture and high participation rates in both recreation and competition. The historical association has fostered a strong archery community and a deep-rooted interest in the game. The United States archery equipment and accessories market boasts a large number of clubs, events, and a well-established hunting culture, contributing to steady demand for the product. The region is expected to maintain a healthy growth rate, supported by continuous innovation and active participation in shotgun events. The significant investments in research and development have led to the creation of cutting-edge technology, thereby enhancing equipment performance and user experiences.

• EUROPE

Europe is the major region with highest archery equipment and accessories market share due to the availability of adequate infrastructure and facilities for shooting enthusiasts. The market primarily earns revenue through target shooting which is widely practiced and competitive. Numerous tournaments are held in Europe which are attracting both amateur and professional contestants. This sector continues to invest in this market, creating a competitive environment that encourages market growth. Countries such as the U.K., Germany, and France have strong communities, supported by numerous clubs and competitive.

• ASIA

Asia-Pacific is the fastest growing region, as the youth population is inkling towards adventurous games during their leisure time. This results in the rise in the active participation of the youth in the shooting activity, thus, contributing to the growth of the market in this region. Furthermore, the major APAC regions such as India, Singapore, Japan, and South Korea are continuously organizing the national and international level shooting tournaments. This further encourages the involvement of the people. Furthermore, rising spending incomes and growing concentration in spare time activities among the children are boosting the market growth.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Equipment Innovation and Market Strategies"

The market is differentiated by dynamic competitive dynamics formed by a combination of factors counting product innovation, regional equipment capabilities, and evolving consumer preferences. Top manufacturers are spending on R&D and using technological advancements to provide cost-effective and quality equipment. Some are utilizing various business ways such as partnerships, mergers, agreements, joint ventures, and acquisitions to make their market position and expand their geographical reach. Some companies are focusing on increasing customer knowledge about the ambiguity of the types used while rigorously adhering to international authoritarian standards.

LIST OF TOP ARCHERY EQUIPMENT AND ACCESSORIES COMPANIES

• Escalde (Israel)
• GOLDTIP (U.S.)
• Precision Shooting Equipment and Alpine Archery (U.S.)
• New Archery Products (U.S.)
• Easton Archery (U.S.)
• Bear Archery (U.S.)
• Outdoor Group (U.S.)
• Mathews Archery (U.S.)

KEY INDUSTRY DEVELOPMENT

February 2023: Heritage Outdoor Group announced that it has acquired Precision Shooting Equipment, Inc. with an object to maintain and strengthen PSE’s “made of the USA” reputation. PSE and Heritage Outdoor Group desired to continue to operate as separate entities while Heritage focusing on the marketing and sales side of the business. They are also ensuring that all parts of their product are sourced from the U.S.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The archery equipment and accessories market is poised for a continued boom pushed by the rising increasing awareness about the holistic benefits of shooting and the rise of international tournaments as well as events and its addition in education curricula. Despite challenges, which include the continuation of counterfeit products and the strict regulations on shooting and the exercise of shotgun gears in certain areas. Key industry players are spending huge amounts in research and development and advanced technologies to offer affordable and quality tools. The integration of smart technology into kits can attract numerous consumers and the expanding demographic of shooting cohorts is bolstering the market growth.