Hammock Market To Reach $ 639.8 Million, Globally By 2030 At 5.8% CAGR: Allied Market Research
PORTLAND, Ore., August 3, 2021 / PRNewswire / – Allied Market Research published a report titled, “Hammock market By Type (Spreader Bar and Conventional), Material (Cotton, Polypropylene, and Others) and Sales Channel (Offline Channels and Online Channels): Global Opportunity Analysis and Industry Forecast, 2021-2030. ” According to the report, the global Hammocks industry has generated $ 380.2 million in 2020, and should collect $ 639.8 million by 2030, with a CAGR of 5.8% from 2021 to 2030.
Main determinants of growth
Rising hiking and adventure tourism, growing demand from residential segment, and expanding hospitality industry are driving the growth of the global hammock market. However, the presence of alternatives hinders the growth of the market. On the other hand, the promotion of the health benefits of hammocks, the sustainability and environmental friendliness of the product, and the advent of digital platforms present new opportunities in the years to come.
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- The outbreak of the COVID-19 pandemic halted sales of hammocks in physical stores, causing consumers to shift to online sales channels to purchase campaign equipment products, including hammocks.
- However, with changing consumer behavior, the demand for personalized and premium products is likely to increase, which would drive the demand for hammocks.
The conventional segment to maintain its leading position during the forecast period
On the basis of type, the conventional segment contributed the highest share in 2020, holding more than three quarters of the global hammock market, and is expected to maintain its dominant position during the forecast period. Additionally, the segment is estimated to have the highest CAGR of 6.1% from 2021 to 2030. Conventional hammocks are comfortable and conform to the shape of the body. They also offer protection against the cold, and are very commonly used for outdoor activities. These factors are driving the growth of the segment.
Polypropylene Segment to Maintain Dominant Share During Forecast Period
On the basis of form, the polypropylene segment held the highest revenue share in 2020, accounting for more than half of the global hammock market, and is expected to maintain its dominant share during the forecast period. In addition, the segment is also expected to post the highest CAGR of 6.5% from 2021 to 2030, due to its crucial role in treating bacterial infections in plants. The fact that polypropylene hammocks are among the most popular types of hammocks used by campers, adventurers and in campsites is driving the growth of the segment. In addition, hammocks made from polypropylene fabric are very light and can be compacted into a small size, which makes them easier to transport and further propels the segment.
North America would lead the trail throughout the forecast period-
Depending on the region, North America dominated in 2020 with the highest market share, holding almost half of the global hammock market share. The presence of numerous nature trails and natural parks in this region is driving the growth of the market. On the other hand, the market through Asia Pacific is estimated to manifest the fastest CAGR of 6.9% throughout the forecast period. Rapid urbanization, digitalization and the emergence of modern retail channels in this region are causing the market to proliferate.
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The main market players
- Danlong hammocks
- Nid d’Aigles Outfitters
- Golden eagle outdoors
- Large Trunk
- Inca hammocks
- Lawson Hammock Company
- Liaoning LuckyJohnny Trading Co., Ltd
- The source of the hammock
- Wise Owl Outfitter
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SOURCE Allied market research