Snow Sports Accessories Market

Snow Sports Accessories Market Outlook (2022-2032)

The global snow sports accessories market is set to enjoy a valuation of US$ 1,308.6 Million in 2022 and further expand at a CAGR of 2.3% to reach US$ 1,650.3 Million by the end of 2032.

Accessories account for close to 20% of the overall consumer spending on snow sports, which by the end of 2032 is forecast to surpass 30% of total spending. Against every ten dollar spent on snow sports related products, close to two dollar is spent on accessories.

Report Attributes	Details
Snow Sports Accessories Market Size (2021A)	US$ 1,278.4 Million
Estimated Market Value (2022E)	US$ 1,308.6 Million
Forecasted Market Value (2032F)	US$ 1,650.3 Million
Global Market Growth Rate (2022-2032)	2.3% CAGR
North America Market Share (2021)	~30.5%
East Asia Market Growth Rate (2022-2032)	~3% CAGR
United States Market Growth Rate (2022-2032)	~2.5% CAGR
Market Share of Top 5 Companies	~21.6%
Key Companies Profiled	Amer Sports Corporation NIKE, Inc. Black Diamond, Inc. Fischer Sports GmbH Head NV Lucky Bums Olympia Sports Inc. Skis Rossignol SAS The Burton Corporation.

Sales Analysis of Snow Sports Accessories (2017-2021) Vs. Market Forecast Outlook (2022-2032)

The global market for snow sports accessories expanded at a CAGR of 2.5% over the last five years (2017-2021).

Due to the favorable weather, snow sports are one of the most popular and exciting adventure sports in North America and Europe. Surge in both number of players and spectators over the time has propelled the global snow sports accessories market. Christmas holidays in the snow season have notably aided the market maintain its growth trajectory with increasing recreational trips and tours.

The demand for snow sporting products is also being driven by increasing diversity in both individual and team sport, where skiing and snowboarding remain the most popular ones. The freezing temperature and high risk of injury with winter sports demand more gear and preparation as compared to many other sports. This makes the snow sports accessories inevitable for participation in the sport, which fuels the market expansion.

Another factor driving the demand for snow sports is the increased consumer interest in outdoor activities that combine competition and leisure. Increasing awareness about the need for physical activity and its health benefits has significantly pushed the target market.

The global snow sports accessories market is predicted to surge ahead at a CAGR of 2.3% by the end of 2032, suggests Fact.MR analyst.

• Short Term (2022 Q2 to 2025): Augmenting application and integration of snow sports accessories in the outdoor sports industry to positively impact market growth.
• Medium Term (2025-2028): The growing popularity of snow sports globally such as skiing, ice hockey, snowboarding and many more to drive the market in medium term.
• Long Term (2028-2032): Increase in fun sporting activities performed on snow or ice will drive snow sports accessories demand during the long term forecast.

Over the 2017-2021 historical period, the global snow sports accessories market registered a CAGR of 2.5%, and according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 2.3% CAGR between 2022 and 2032.

Market share analysis of snow sports accessories based on product type and region is provided in a nutshell in the above image. Under the product type segment, the goggles sub-segment dominates with 32.8% market share in 2022.

What’s Driving Demand for Snow Sports Accessories?

“Growing Advancements in Snowmaking Technology to Boost the Product Demand”

Warmer winters and less snowfall are two effects of climate change that pose a serious threat to the snow sports accessories market. Administrative and business organizations are investing in the development of snowmaking technologies to address these issues. For instance, the European government has funded SnowRESolution project, which is working to create technology that can make high-quality snow at temperatures above 0°C, in all kinds of weather, and without the need of chemical additives.

The product expansion in the Asia Pacific, MEA, and many other regions, where the weather is unfavorable for playing such sports, has been positively impacted by such improvements and increased investments. This tremendous growth of snow sports is very evident in China. More than 346 Million Chinese have participated in winter sports since 2015, according to Fact.MR study.

In addition, the popularity of a number of winter sports, such as alpine snowboarding, figure skating, bobsledding, and toboggan in the Olympic games, is fostering the market's expansion.

“Rising Safety Concerns Related to Snow Sports Activities Augmenting Sales of Snow Sports Accessories”

There are risks associated with all snow sports, including sledding and downhill skiing. In the United States, more than 246,000 patients received treatment for snow sports-related injuries in hospitals and doctor's offices in 2019-2020. Downhill skiing and snowboarding were the sports causing the most of the injuries. Sprains, strains, fractures, and dislocations are typical snow sports injuries. As a result, individuals are getting more and more concerned about safety when engaging in snow sports. Due to the increased risk of injury, more people are purchasing helmets, pads, goggles, etc. This is fueling the market for snow sports accessories.

What Do Snow Sports Accessories Manufacturers Need to Watch Out for?

“Availability of Counterfeit Products is the Major Restraint for Market Growth”

The snow sports accessory industry is no exception when it comes to the importance of brands for generating business value. Strong brands command customer loyalty and premium prices, making them priceless assets that fuel business success. A major challenge to the market is the availability of counterfeit goods, which can swiftly damage sales volume. As a result, the market's expansion may be seriously threatened by growing prices as well as the potential for the availability of counterfeit goods.

Country-wise Insights

What Factors Are Contributing to the Dominance of North America in Product Market?

The North America snow sports accessories market is currently estimated at US$ 399.4 Million and is expected to grow with a CAGR of 2.4% by 2032.

Due to the highest levels of involvements in ice hockey, skiing, and snowboarding, North America has the greatest market for snow sports worldwide. According to Fact.MR data, North America and South America accounted for 46% of global skier visits in 2021, with the United States accounting for 62 Million visits annually, i.e. 25% of the worldwide visits.

Due to rapid expansion in per capita disposable income, middle- and high-income consumers in urban areas have changed their purchasing preferences from necessities to luxury goods and services, which is serving as a key market driver. This pattern is encouraging individuals to spend money on leisure pursuits like sport activities.

Furthermore, it is anticipated that the demand for snow sports accessories would increase in the near future due to the growing participation of women in winter sports like skiing, ice hockey, etc.

Why is the Asia Pacific Snow Sports Accessories Market Expected to Be Highly Lucrative?

In recent years, some government bodies have started to place more of an emphasis on the development of winter sports. Numerous countries have started initiatives to encourage the expansion of the infrastructure for winter sports and recreational skiing. Therefore, an increase in winter tourism and adventure sports is projected to promote the growth of snow sports apparel and equipment sales.

The Get into Snow Sports (GISS) initiative, for instance, was put into practice in China. In order to advance skiing in China and promote snow sports worldwide. The International Ski Federation (FIS) developed this initiative as part of the Winter Olympics. Apart from this, the government is working on several projects to improve the skiing conditions in the area, even outside the Olympics. All of the aforementioned factors are benefiting the product market.

The China snow sports accessories market is expected to reach a valuation of US$ 84.8 Million in 2022.

Country-wise Insights

What Factors Are Contributing to the Dominance of North America in Product Market?

The North America snow sports accessories market is currently estimated at US$ 399.4 Million and is expected to grow with a CAGR of 2.4% by 2032.

Due to the highest levels of involvements in ice hockey, skiing, and snowboarding, North America has the greatest market for snow sports worldwide. According to Fact.MR data, North America and South America accounted for 46% of global skier visits in 2021, with the United States accounting for 62 Million visits annually, i.e. 25% of the worldwide visits.

Due to rapid expansion in per capita disposable income, middle- and high-income consumers in urban areas have changed their purchasing preferences from necessities to luxury goods and services, which is serving as a key market driver. This pattern is encouraging individuals to spend money on leisure pursuits like sport activities.

Furthermore, it is anticipated that the demand for snow sports accessories would increase in the near future due to the growing participation of women in winter sports like skiing, ice hockey, etc.

Why is the Asia Pacific Snow Sports Accessories Market Expected to Be Highly Lucrative?

In recent years, some government bodies have started to place more of an emphasis on the development of winter sports. Numerous countries have started initiatives to encourage the expansion of the infrastructure for winter sports and recreational skiing. Therefore, an increase in winter tourism and adventure sports is projected to promote the growth of snow sports apparel and equipment sales.

The Get into Snow Sports (GISS) initiative, for instance, was put into practice in China. In order to advance skiing in China and promote snow sports worldwide. The International Ski Federation (FIS) developed this initiative as part of the Winter Olympics. Apart from this, the government is working on several projects to improve the skiing conditions in the area, even outside the Olympics. All of the aforementioned factors are benefiting the product market.

The China snow sports accessories market is expected to reach a valuation of US$ 84.8 Million in 2022.

Competitive Landscape

Prominent Snow Sports Accessories manufacturers are Amer Sports Corporation, NIKE, Inc., Black Diamond, Inc., Fischer Sports GmbH, Head NV, Lucky Bums, Olympia Sports Inc., Skis Rossignol SAS, The Burton Corporation.

Key market participants are developing new product designs based on prevailing consumer needs for fashion and safety in an effort to increase market share. The industry's top players engaged in mergers and acquisitions as well as collaborations with a focus on expanding their presence in the global market.

• In Dec. 2021, Prada launched a limited edition collection by collaboration with Aspen Skiing Company. This collaboration will elevate the ski performance wear of the company.

Fact.MR has provided detailed information about the price points of key manufacturers of Snow Sports Accessories positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Snow Sports Accessories Industry Research

• By Product Type:

  • Goggles
  • Sunglasses
  • Snowshoes
  • Helmets
  • Backcountry Accessories
  • Protection Pads
  • Others

• By Sales Channel:

  • Sport Stores
  • Franchised Stores
  • Specialty Stores
  • Online

• By Price Range:

  • Economy
  • Mid-Range
  • Premium
  • Super- Premium

• By Demographics:

  • Men
  • Women
  • Kids

• By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA