The Latin America, Middle East and Africa Hiking Gear & Equipment Market would witness market growth of 9.5% CAGR during the forecast period (2023-2030).
The market is growing as younger people's interest in sports increases. The popularity of outdoor sports events has increased along with the trend towards fitness regimens, quick leisure activities, and healthy lives. This has had a beneficial impact on the demand for hiking supplies and gear. The need for hiking equipment is also increasing as the outdoor recreation sector expands due to urban migration, shifting demographics, and a greater emphasis on healthy living.
The market has grown as a result of consumers' focus shifting to adopting a healthy lifestyle, which is backed by an increase in urbanization. Additionally, customers' growing preference for sturdy footwear has elevated the status of hiking boots. Since millennials make up one of the greatest consumer bases for hikers on the market, their rising participation drives up demand for these goods. The market is expected to increase favorably in response to this scenario.
Cotopaxi National Park has Cotopaxi Volcano, one of the world's highest active volcanoes. Hikers like to explore the park's high-altitude trails, enjoy views of the volcano, and visit the Limpiopungo Lagoon. The Atacama Desert is recognized as one of the driest places on Earth and offers unique desert trekking experiences. Chapada Diamantina National Park in northeastern Brazil features rugged canyons, waterfalls, and limestone plateaus. The Pati Valley trek is famous for exploring the park's natural beauty. Therefore, the region's diverse ecosystems, cultural heritage, and challenging trails make it a prime destination for those seeking outdoor exploration and adventure, which aids in expanding the market.
The Brazil market dominated the LAMEA Hiking Gear & Equipment Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $154.6 million by 2030. The Argentina market is registering a CAGR of 10.1% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 9.2% during (2023 - 2030).
Based on Product, the market is segmented into Clothes, Footwear, Backpack, Equipment, and Others. Based on Distribution Channel, the market is segmented into Specialty stores, Retail stores, and online. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Hiking Gear & Equipment Market is Projected to reach USD 8.7 Billion by 2030, at a CAGR of 6.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Black Diamond Equipment, Ltd., Amer Sports, The North Face (VF Outdoor LLC), Mountain Hardwear(Columbia Sportswear Company), Marmot Mountain, LLC (Newell Brands, Inc.), Equinox Ltd., TATONKA GmbH, Mont-bell Co., Ltd., Big Agnes, Inc. and Exxel Outdoors, LLC
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