According to the latest report by FMI (Future Market Insights), the survival tools market will soar globally at a CAGR of 7.4% towards 2030 end. Growth is anticipated to be fueled by a growing sentiment on self-protection amid a fast-changing background.
Though several industries are endeavoring to click revenue targets as the majority of nations, globally, come under the radar of the COVID-19 outbreak, the survival tools market has been thriving. Regardless of the survival tools sector was not equipped for a catastrophe of this scale, sales stay unaffected by the onset of the crisis.
“Gen X (Xers) are key factors boosting market revenue for survival tools in recent years. The demographic age group has fundamentally changed the conception of ‘survivalism’ from hobby to lifestyle. Furthermore, Xers prioritize resilience and self-reliance and are enticed to ‘survival schools’ to discover to live with basics,” states FMI analyst.
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Survival Tools Market – Key Takeaways
- Based on products, pocket tools remains preferred amid users, the trend will grow at remarkable CAGR through the decade ahead.
- By material, stainless steel is likely to stay preferred material amid manufacturers, plastic, wood, and aluminum will fade in the coming years.
- Hiking activities are likely to produce about US$ 600 Million towards 2030 end.
- By sales channel, sales through specialty stores, and distributors/wholesalers will outperform multi-brand stores, by the end of 2030.
Survival Tools Market – Key Drivers
- Rising cases of natural disasters and the prerequisite to have survival tools to prep up are complementing the market growth.
- The FMI report opines that survival tools manufacturers must stay updated with the rising e-commerce sector and keep pace with the latest trends in the industry.
Survival Tools Market – Regional Analysis
- Capturing a bigger slice of the global market, North America market growth in the region is majorly driven by established companies that have recognized the requirement and preparing for disaster.
- European market is the second biggest market wherein Germany and the UK collectively hold about 40% share and France is reflecting prospective growth avenues.
- Survival tools markets both in South and East Asia will record double-digit growth wherein India will stay the sole market to signify double-digit CAGR.
Survival Tools Market – Competitive Landscape
Major market players active in the global survival tools market are Fiskars Group, Tender Corporation, Coleman Company, Full Windsor Company, Survival Light Products, SOG Specialty Knives & Tools, Inc., Ultimate Survival Technologies, Wild & Wolf, Inc., Johnson & Johnson International, Inc., Leatherman Tool Group, Honeywell International, Frasers Group, Unchartered Supply Company, L.L.Bean, and Sharpal Inc. (only indicative list)
Players are witnessing stiff competition that has given rise to several new entrants and developing consumer expectations. To maintain their market competitiveness, players are focusing on blatant investments in diversification and innovation. For instance,
Endless Adventure Store has created the Revolutionary Anti-Theft Backpack which comes with 12 avant-garde attributes such as hidden zippers and secret compartments that assist in keeping belongings safe throughout adventurous activities.
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Survival Tools Market – Taxonomy
Product
- Shovels
- Ropes
- Compasses
- Pocket Tools
- Hatchets
- First Aid Kits
- Others
Material
- Stainless Steel
- Aluminium
- Wood
- Plastic
- Others
Application
- Hiking Activities
- Hunting and Fishing
- Camping Activities
- Other Wilderness Activities
Sales Channel
- Supermarkets/Hypermarkets
- Multi-Brand Stores
- Online Retailers
- Direct Sales
- Specialty Stores
- Other Sales Channel
Regional Outlook:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
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