Hiking is an outside activity of walking around the countryside on trails or path loving the wonder of nature and sensible exercise for brain and body Hiking is an adventurous activity that spices up mental and physical health, stamina along with lowers fat. People nowadays select for journey and unconventional holidays and travel over leisure travel. Hiking is one in all foremost activities within the U.S. after jogging, and cycling. The industry is entering into a maturity stage and has had a steady growth in the last few decades.
According to the report analysis of,’ Global Hiking Market to reach USD XX billion by 2027.’ The players in the hiking gear & equipment industry have adopted product launch as their key development strategy to increase profitability, and to improve their stance in the hiking gear & equipment market share. The key players have also relied on business expansion to stay relevant in the market. The key players profiled in the report include TUI Group (Germany), Thomas Cook Group PLC (UK), Jet2Holidays Limited (UK), Cox & Kings Ltd. (India), Lindblad Expeditions (US), Scott Dunn (UK), Abercrombie & Kent (US), Tauck (US), Al Tayyar Travel Group (Seera) (SA) and EXODUS TRAVELS LIMITED (UK). Hiking is a major component of the tourism industries which is immensely affected by pandemic and incurred heavy losses. As per World Tourism Industry, millions of jobs are lost which has impacted no other industry like tourism and caused 96% destinations in the world to impose restrictions for tourists in 2020 which impedes the market growth of Global Hiking Market drastically. With the decline in COVID-19 pandemic, a growth in hiking market would be observed as people are willing to go on outings which they are imposed on due to lockdowns and other restrictions. People are fond of healthier lives due to which the hiking market will observe a boom. However, However, weak physical health and availability of other adventurous options are the restraining factors which impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Hiking market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world being surrounded by waterbodies, islands and have good weather all-round the year. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rise in awareness regarding healthcare, increase of pollution in cities and improvement in facilities during hiking would create lucrative growth prospects for the Hiking market across Asia-Pacific region. The detailed segments and sub-segment of the market are explained as follows By Type segmented into Island, Landscape, Polar Region and Others. By End-Users segmented into Millennial, Generation X, Baby Boomers and Others.
Moreover, benefits of hiking such as lower cholesterol level, lower stress levels, improvement in mood, and decrease in depression level, improvement in bone density and physical health as well as mental strengthening motivate the growth in the market. Thus, it is expected that the market of global hiking market will grow in the upcoming years.
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Ankur Gupta, Head Marketing & Communications