LONDON--(BUSINESS WIRE)--According to their latest report, Technavio analysts expect the camping tent market in Europe for 2016-2020 to exceed USD 5.4 billion by 2020 growing at a CAGR of over 4%.
According to Abhay Sinha, lead research analyst at Technavio for outdoor gear, “As camping is an affordable form of recreation, it is gaining popularity among baby boomers, as well as the younger generations (20-39 years). Social media too, has contributed to the increasing interest in adventure sports among the youth. Many websites offer affordable camping tour packages, which is further increasing the demand for camping equipment.”
Technavio’s new research areas market research analysts have identified the following three factors that will drive the camping tent market in Europe:
- Increased participation in outdoor recreational activities
- Growth in adventure tourism
- Inexpensive holiday option
Increased participation in outdoor recreational activities
The increased need to de-stress and take a break from the current fast-paced lifestyle is contributing to the demand for leisure activities and outdoor sports. Growing health consciousness and the need to engage in physical activities has also resulted in increased participation in outdoor activities. More and more consumers are turning to nature-based outdoor adventures to seek respite from overcrowded cities, fast-paced lifestyles, and polluted environment.
All these factors have helped adventure tourism gain momentum thus, increasing the sales of camping equipment. The increase in disposable income, also helps the camping tent market as consumers are able to afford expensive camping equipment and prefer to purchase premium products.
Thus, the rise in camping and other adventure activities will fuel the demand for camping tent market in Europe during the forecast period.
Growth in adventure tourism
Due to increasing health-consciousness and the need to stay fit and healthy, a greater number of people are showing an interest in outdoor activities and adventure sports such as camping, rafting, rock climbing, trekking, scuba diving, and hiking.
According to the United Nations World Tourism Organization (UNWTO), worldwide international tourist arrivals crossed the 1 billion mark in 2014. The organization expects this figure to reach about 1.8 billion by 2030. This rise in global tourism is one of the major drivers of adventure tourism and the sales of adventure sports equipment.
Though the hard adventure segment is registering significant growth rate, the element of real danger and the need for specialized skills discourage mass participation. In contrast, the soft adventure segment has been driving the growth of the adventure tourism sector worldwide. “Geographically, Europe has been growing at the fastest rate when it comes to the number of adventure travelers. This will further boost the growth of the camping tent market in the region,” says Abhay.
Inexpensive holiday option
During the Eurozone crisis in 2009, many consumers in the European Union countries turned to camping, as it provided a less expensive alternative to other holiday options. This has boosted the perception of camping as a great holiday option for consumers on a budget. The cost of acquiring camping equipment is high. However, after this initial investment, their low maintenance helps in reducing living and travelling costs.
Many campsites even offer attractive, inexpensive packages that include a range of activities. For instance, Campsite Tempelhof, situated in the Netherlands, is a five star campsite that offers camping pitches for the campers, indoor swimming pool, multi-functional sports hall, sanitary facility, and other such facilities. This is encouraging more consumers to engage in camping. Consequently, this will drive the demand for camping tents during the forecast period.
Browse Related Reports:
- Global Camping Equipment Market 2016-2020
- Global Grow Tents Market 2016-2020
- Camping Equipment Market in the US 2015-2019
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