While snow sports have been followed by large masses for several decades in the developed regions of North America and Europe, the growing popularity of the Winter Olympics has only fueled the market for snow sports clothing.
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Countries such as Norway, Austria, USA, France, Germany, Canada, Sweden, Russia and Italy have long topped the snow sports rankings, while Asian emerging economies such as Japan, China and Australia are now in the lead. also makes an incursion. Snowboarding, ice hockey, alpine and freestyle skiing, ski mountaineering, cross-country skiing, biathlon and ski jumping are some of the most popular snow sports in the world. According to the findings of an up-to-date intelligence study by Transparency Market Research (TMR), the demand in the global snow sportswear market will multiply at a healthy growth rate during the forecast 2017 to 2022.
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Rising Recreational Spending Drives Demand
Growing preference for outdoor leisure activities among the urban population, changing lifestyle, increase in leisure spending and increasing awareness among the masses about the physical and mental benefits of sports activities are some of the Key factors driving the demand in the global snow sports apparel market. Along with the growing popularity of snow sports, safety awareness among players has increased significantly in recent years. As a result, the growing use of protective gear such as tops and helmets is on the rise. In addition to this, consumer interest in nature-based walkways that provide both competitiveness and recreation has been steadily growing and helping the global snow sports apparel market. With the increasing penetration of e-commerce, consumers can now search, compare and purchase the sports equipment of their choice. This factor is also increasing the demand in the global snow sportswear market.
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The 2014 Winter Olympics, held in Sochi, were broadcast by 464 television channels around the world, with TRPs reaching new heights. This competitive event inspires many young people and drives demand in the global snow sports apparel market. The TMR report also detects that advancements in technology are also favoring the flow of demand in the snow sports apparel market. For example, synthetic ice rinks or waterless ice rinks use a polymeric material to skate with regular metal blade ice skates. Synthetic ice rinks are made by interlocking panels and do not require ice. In addition to being environmentally friendly, these rinks can dispense with refrigeration equipment to create a mechanically frozen skating surface, thereby significantly reducing operating costs.
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The United States makes North America the most profitable region
In terms of products, shell tops dominate demand in the winter sportswear market, accounting for 14.8% of global demand. The TMR report predicts that the demand for the hull tops segment will grow at a CAGR of 5.8% during the forecast period from 2017 to 2022, reaching a valuation of US$255.3 million by 2022. Regionally, North America remains the most lucrative region for vendors operating in the snow sports apparel market, with regional revenue expected to reach US$546.3 million by the end of 2022 , posting a CAGR of 6.5% over the forecast period of 2017 to 2022.
Some of the major 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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