The snow sports apparel market is estimated to increase by US$1.65 billion from 2022 to 2027. The market will be progressing at a compound annual growth rate (CAGR) of 6.12 percent, according to a new report by tech research and advisory firm Technavio. Growth is being driven by the rising popularity of winter sports.
Globally, winter sports are gaining popularity among millennials. Furthermore, in recent years, the popularity of winter sports has increased in emerging economies like China and India.
Growing online sales are a key emerging trend shaping the market, according to the report. The rising number of online websites that sell snow sports apparel has propelled the demand for these products, which is accelerating globally. By geography, North America is estimated to contribute 41 percent to the growth of the global market during the 2023-2027 forecast period, driven by the rising participation in winter sports in this region. In addition to the U.S. and Canada, other key countries include China, Germany and France.
Meanwhile, global market growth in the snow sports apparel segment is challenged by logistics and supply chains related issues, which may reduce the net profits of market vendors and impede the growth of the market during the forecast period, suggests the report.
Image source: Ri_Ya via Pixabay
