The presence of several companies has rendered the global trail sports accessories market fragmented. Some of the leading companies in the market are aiming to expand their product portfolio. Through this they are aiming to strengthen their foothold in the global trail sport accessories market, as per a new study Transparency Market Research (TMR). According to the report, key players are gearing to offer advanced wearable to woo customers. Besides this, they have increased investment towards marketing programs. With tech giants such as Samsung and Apple pulling up their socks in face of intensifying competition, the smaller players are experimenting with their pricing strategies to buoy growth. In addition to this, the global trail sports accessories market has witnessed several strategic collaborations over the years aimed at gaining a competitive edge over contemporaries.
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As per the report, V.F. Corporation, Amer Sports Corporation, Wolverine World Wide Inc., Newell Brands Inc., Columbia Sportwear Company, Deckers Outdoor Corporation, Black Diamond Inc., Skechers USA Inc., Adidas AG, and Big Agnes Inc. are some of the leading brands in the global trail sports accessories market. Strategies adopted by the key players are likely to have a significant influence over the market.
According to TMR, the market is expected to reach US$2,000 mn by the end of 2022. Among key products available in the market, the demand for shoes is likely to remain the highest through the course of the report’s forecast period. Regionally, Europe has emerged as the leading market for trail sports accessories and is expected to remain dominant in the forthcoming years.
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Demand among Health-conscious Consumers Expected to Increase
In the last couple of years, trail sports have gained immense popularity among health-conscious consumers worldwide. It has gradually transformed into a mass phenomenon, with participation in trail sports such as hiking and running gaining prevalence especially among students, athletics, besides adults recently embarking on a healthy lifestyle. This is visible from the rising popularity of social running organized by various clubs. Furthermore, there are institutions hosting running campaigns the word on which is often communicated via various social media platforms.