While
snow sports have been followed by large masses for a number of
decades in the developed regions of North America and Europe, the
growing popularity of Winter Olympics has only further added fuel to
the market for snow sports apparel. Countries such as Norway,
Austria, the U.S., France, Germany, Canada, Sweden, Russia, and Italy
have been leading the ranking charts of snow sports since a long
time, whereas Asian emerging economies such as Japan, China, and
Australia are now also making a foray. Snowboarding, Ice Hockey,
Alpine and Freestyle Skiing, Ski Mountaineering, Cross Country
Skiing, Biathlon, and Ski Jumping are some of the most common snow
sports played across the world. As per the findings of an up-to-date
intelligence study by Transparency Market Research (TMR), the demand
in the global snow sports apparel market will multiply at a healthy
growth rate during the forecast 2017 to 2022.
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Increased
Recreational Expenditure Driving Demand
Increasing
preference of outdoor recreational activities among the urban
population, changing lifestyle, incremented recreational expenditure,
and growing awareness among the masses regarding the physical and
mental benefits of sporting activities are some of the key factors
driving the demand in the global snow sports apparel market. Apart
from the growing popularity of snow sports, the safety awareness
among the players has increased significantly in the recent past. As
a result, increasing usage of protective gears such as shell tops and
helmets is multiplying. In addition to that, consumer’s interest in
nature-based gateways that offer competitiveness as well as leisure
at the same time, has been steadily escalating and aiding to the
global snow sports apparel market. With growing penetration of
ecommerce, consumers are now able to research, compare, and buy the
sporting gears of their choice. This factor is also augmenting the
demand in the global snow sports apparel market.
Winter
Olympics 2014, held in Sochi, was broadcasted by 464 television
channels across the world, with the TRPs touching new peaks. This
competitive event is inspiring many youngsters and driving the demand
in the global snow sports apparel market. The TMR report also detects
that technological advancements is also favoring the demand-flow in
the snow sports apparel market. For instance, synthetic ice rinks or
waterless skating rinks make use of a polymer material for skating
with regular metal-bladed ice skates. The synthetic skating rinks are
manufactured by interlocked panels and do not require ice. Apart from
being eco-friendly, these rinks can do without refrigeration
equipment for creating a mechanically frozen skating surface, and
consequently reducing the operational costs considerably.
USA
Makes North America the Most Profitable Region
Product-wise,
shell tops dominate the demand in the snow
sports apparel market, accounting for 14.8% of the global
demand. The TMR report projects the demand for shell tops segment to
experience a CAGR of 5.8% during the forecast period of 2017 to 2022,
reaching a valuation of US$255.3 mn by 2022. Regionally, North
America remains the most lucrative region for the vendors operating
in the snow sports apparel market, with the regional revenue
projected to reach US$546.3 mn by the end of 2022, exhibiting a CAGR
of 6.5% during the forecast period of 2017 to 2022.
Competitive
Landscape
Some
of the prominent companies currently operating in the global snow
sports apparel market are: Nike, Adidas, Columbia, Champion, The
North Face, Paradox, Armada, Boll, and Black Diamond Equipment.
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