DUBAI, U.A.E., Sept. 16, 2020 /PRNewswire/ -- According to the latest report by FMI (Future Market Insights), the survival tools market will soar globally at a CAGR of 7.4% towards 2030 end. Growth is anticipated to be fueled by a growing sentiment on self-protection amid a fast-changing background.
Though several industries are endeavoring to click revenue targets as the majority of nations, globally, come under the radar of the COVID-19 outbreak, the survival tools market has been thriving. Regardless of the survival tools sector was not equipped for a catastrophe of this scale, sales stay unaffected by the onset of the crisis.
"Gen X (Xers) are key factors boosting market revenue for survival tools in recent years. The demographic age group has fundamentally changed the conception of 'survivalism' from hobby to lifestyle. Furthermore, Xers prioritize resilience and self-reliance and are enticed to 'survival schools' to discover to live with basics," states FMI analyst.
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Survival Tools Market - Key Takeaways
- Based on products, pocket tools remains preferred amid users, the trend will grow at remarkable CAGR through the decade ahead.
- By material, stainless steel is likely to stay preferred material amid manufacturers, plastic, wood, and aluminum will fade in the coming years.
- Hiking activities are likely to produce about US$ 600 Million towards 2030 end.
- By sales channel, sales through specialty stores, and distributors/wholesalers will outperform multi-brand stores, by the end of 2030.
Survival Tools Market - Key Drivers
- Rising cases of natural disasters and the prerequisite to have survival tools to prep up are complementing the market growth.
- The FMI report opines that survival tools manufacturers must stay updated with the rising e-commerce sector and keep pace with the latest trends in the industry.
Survival Tools Market - Regional Analysis
- Capturing a bigger slice of the global market, North America market growth in the region is majorly driven by established companies that have recognized the requirement and preparing for disaster.
- European market is the second biggest market wherein Germany and the UK collectively hold about 40% share and France is reflecting prospective growth avenues.
- Survival tools markets both in South and East Asia will record double-digit growth wherein India will stay the sole market to signify double-digit CAGR.
Survival Tools Market - Competitive Landscape
Major market players active in the global survival tools market are Fiskars Group, Tender Corporation, Coleman Company, Full Windsor Company, Survival Light Products, SOG Specialty Knives & Tools, Inc., Ultimate Survival Technologies, Wild & Wolf, Inc., Johnson & Johnson International, Inc., Leatherman Tool Group, Honeywell International, Frasers Group, Unchartered Supply Company, L.L.Bean, and Sharpal Inc. (only indicative list)
Players are witnessing stiff competition that has given rise to several new entrants and developing consumer expectations. To maintain their market competitiveness, players are focusing on blatant investments in diversification and innovation. For instance,
Endless Adventure Store has created the Revolutionary Anti-Theft Backpack which comes with 12 avant-garde attributes such as hidden zippers and secret compartments that assist in keeping belongings safe throughout adventurous activities.
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Survival Tools Market - Taxonomy
- Pocket Tools
- First Aid Kits
- Stainless Steel
- Hiking Activities
- Hunting and Fishing
- Camping Activities
- Other Wilderness Activities
- Multi-Brand Stores
- Online Retailers
- Direct Sales
- Specialty Stores
- Other Sales Channel
- North America
- Latin America
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
Get Valuable Insights into the Survival Tools Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global survival tools market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the survival tools market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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