The global camping tent market is expected to grow at a CAGR of over 6% during the period 2019-2025
NEW YORK, Feb. 14, 2020 /PRNewswire/ —
The global camping tent market is expected to grow at a CAGR of over 6% during the period 2019–2025.
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The following factors are likely to contribute to the growth of the camping tent market during the forecast period:
• Integration of Wellness in Camping
• Back-to-nature Stays Gain Ground
• Diversifying Camping Audience
• Rent-a-tent Services Drive Trial
The influx of unique ideas from camping service providers is breathing a new lease of life into the camping tent market. The service providers not only offer campsites but entire curated camping experiences that hinge on a specific goal and are structured excursions that are inviting even to those who have historically stayed away. Vendors in the outdoor hospitality market are continually striving to enhance comfort levels, a development that has come from keeping up with changing consumer requirements. From providing simple space to camp along with the basic camping equipment, consumers are being hooked up with several levels of services and amenities. These amenities are being offered as the market looks to shift itself as the mainstream vacation accommodation.
Factors such as the increasing awareness of physical well-being, actively engage in activities such as trail running, stand up paddle surfing, hiking, and trekking are expected to drive demand for the market during the forecast period. Demographics are changing, thereby widening the demand for tents is coming from a more diverse audience than in the past. However, hectic lifestyles have led to limited time, resulting in more frequent shorter vacations, which is likely to have an adverse effect on the global camping tent market.
The study considers the present scenario of the camping tent market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent companies operating in the market.
Camping Tent Market: Segmentation
This research report includes detailed market segmentation by activity, product, end-user, capacity, and geography. Camping is popular among adventure tourists, and the segment contributes approximately 50% of revenue to the market. Adventure tourism is on the exponential boom and is likely to register over a 12% growth rate during the forecast period. Hybrid tents are the direction of innovations in the market. The increasing innovations like the integration of lights with USB ports and the application of polyurethane coating (PU) tents with water-resistant and stain-proof technology are expected to propel the demand.
The backpacking segment is growing at a rapid pace on account of the rise in the disposable middle-class income population. Moreover, millennials have the ‘now or never’ motto. Since this group has limited access to financial resources, backpacking is their preferred method of accommodation and these factors are expected to stimulate the growth of the market.
Tunnel tents are the most common models used for camping. They are expected to grow among millennials that seek slightly more comfort. As millennials account for a quarter of the population, these models are expected to continue to sustain their supremacy in the market. Among other reasons, they are likely to continue to rake in revenues on account of the nature of certain campsites, especially in Australia, Brazil, and Western European countries where tents are squeezed into tight areas leveraging the linearity of the tents.
Dome tents, which are made of nylon, are expected to witness exponentially increase for outdoor adventures, especially among backpackers. They can accommodate up to twelve people at a time. The demand is likely to come from countries such as Bulgaria, Greece, Romania, Hungary, and Slovenia. Several key vendors are focusing on innovations to boost revenues. One of the key vendors launched a 4-person tent with 2 vestibules that have ample storage and multiple configurations such as high/low venting and awning. Another vendor introduced UV Guard protection fabrics that provide shelter from UV exposure and sunburns. Geodesic tents are high on technicalities and are popular among consumers and commercial establishments that are involved in winter expeditions such as lightweight snowline camping. These tents are also popular when it comes to glamping.
The non-commercial segment dominates the market contributing over 50% of the revenue share. The rise in disposable incomes is likely to enable the conscious group of consumers to justify the purchase of higher value tents, which are durable and reduce the damage to the environment. Retailers are using several marketing tactics that revolve around serving not selling, resorting to conveying ideas, services, and inspiration to break the barrier. Quality content is expected to become key to marketing, and the focus is equally being divided between online and offline platforms, these types of marketing strategies are likely to hike up sale prospects.
Family tents contribute a majority of revenue to the market due to group and community camping has been observed tremendous growth. Several sites in regions such as Europe have built premium camping villages that cater to different needs of group customers such as children’s play areas, spas, and golf courses. Moreover, vendors focus on convenience, which is expected to lead to innovations. One of the key vendors introduced attached magnets that seal the doors for one-hand access and eliminate the noisy intrusion of zips. Hence, these novelties are likely to push growth in the market.
The rise of the nuclear family and single-parent household concepts in APAC and the US, respectively, is expected to drive the demand for 3-4 person tents. The availability of pre-assembled frames, water-resistant technology, bug barriers, storage pockets, pop-up dividers, and extra space is likely to push the demand for this segment.
2-person tents are growing at a significant pace as couples, who are at different stages of life are camping more than ever, and this trend is likely to grow in the future. The growth is expected to be bolstered by baby boomers that are inclined toward health consciousness.
Market Segmentation by Activity
Market Segmentation by Product
• Tunnel Tents
• Dome Tents
• Geodesic Tents
Market Segmentation by End-user
Market Segmentation by Capacity
• Family Tent
• 3-4 Person Tent
• 2- person Tent
• Solo Tent
Insights by Geography
The camping tent market in Europe is expected to touch a 4-digit mark at the end of the forecast period. Nature tourism and outdoor activities in Europe grew by 8% in 2018, the travel budget increased by over 2.5% in 2019. Besides, people opt to consider early retirement, and the aging population are inclined toward outdoor recreation, all these factors are expected to propel the growth. Campers tend to spend an average of 5 days in countries such as Germany, Italy, Croatia, France. Countries such as the Netherlands and the UK attract young professionals, backpackers, families with children older than 8 years and empty nesters due to the countries’ nature tourism, which is likely to bolster the market. In North America, about 60% of the population participates in camping. There is an increase in the number of young campers, and about 80% of them opt for tent accommodations. Therefore, the segment is expected to witness high demand. APAC is expected to be driven by active economic growth. Travel opportunities have expanded and continue to expand in the region with an increase in disposable incomes and favorable demographics. The region hosts several popular mountain ranges, exotic landscapes, thereby increasing its popularity for adventure tourism. New Zealand attracts several thousands of campers annually as the country is profusely dotted with holiday parks and campgrounds, hence proving to be a strong market for vendors.
Market Segmentation by Geography
• North America
o South Korea
o Saudi Arabia
• Latin America
Insights by Vendors
The global market is moderately consolidated. However, competition is expected to become intense. Several brands capitalize on the craze for camping and are likely to increase the momentum for sales. The entire outdoor industry is in the midst of a massive shift to promote healthier lifestyles. All brands hinge on the idea of performance. Style and performance are expected to become the buzzwords in the industry. New target groups, coupled with urban tent collections, are among the popular strategies employed by players. Leading vendors account for a major chunk of the business and are likely to lead in terms of development. However, medium-sized companies are doing their versions of high-performance products with value. As consumers have started to reassess the definition of camping, outdoor companies are expected to keep a close watch on the development of recreation in tandem with the desire of comfort, using this to guide their product development efforts. Delivering functional yet exciting products is likely to become core to the industry. Several key players are likely to work on reinventing the mousetrap, tinkering with the existing fabrics, technologies, and designs in the market. Vendors compete in terms of brand value, website performance, quality, price, variety, design, customer service, and convenience.
• AMG Group
• Big Agnes
• Coleman Company
• Johnson Outdoors
• OASE Outdoors
• ALPS Mountaineering
• Core Equipment
• Hi Gear
• Hyperlite Mountain Gear
• Jack Wolfskin
• NEMO Equipment
• The North Face
• Ozark Trail
• Snow Peak
• Zempire Camping Equipment
Key Market Insights
The analysis of the camping tent market provides sizing and growth opportunities for the forecast period 2020–2025.
• Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
• Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of segments and the regional outlook of the market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.
Read the full report: https://www.reportlinker.com/p05862335/?utm_source=PRN
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