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Originally Published on: TechnavioHammocks Market by Material, Type, and Geography - Forecast and Analysis 2023-2027
The hammocks market is poised to grow at a significant CAGR of 17.9% from 2022 to 2027, with an expected rise in market size by USD 921.91 million. This expansion is driven by factors such as increased engagement in outdoor recreational activities, innovations in product offerings, and the emergence of private-label brands.
What will be the Scope of the Hammocks Market during the Forecast Period?
Hammocks Market Size
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Market Analysis: Key Drivers, Trends, Challenges, and Customer Landscape
The upsurge in outdoor recreational pursuits fuels market expansion, although fluctuating raw material prices pose challenges. Researchers conducted a thorough analysis of 2022 data alongside key drivers, trends, and obstacles to assist companies in refining their marketing strategies for a competitive edge.
Key Driver
The growing participation in outdoor endeavors, spurred by lifestyle changes and health awareness, propels market growth. Consumers seek relaxation through outdoor activities, driving demand for leisure products like hammocks, particularly in regions such as Europe and North America.
Prominent Trends
Manufacturers prioritize comfort-centric products, designing hammocks for versatile use, including camping and leisure activities. Innovations in design, materials, and features like two-person hammocks and hybrid bean bags enhance user experience, fostering market expansion.
Main Challenge
Fluctuations in raw material prices escalate manufacturing costs, impacting profit margins. Rising prices of materials like polypropylene and polyamide affect product affordability, restricting purchase volumes.
Key Market Customer Landscape
The report outlines the market adoption journey from innovators to laggards, focusing on regional penetration rates and purchase criteria. Insights provided assist companies in devising growth strategies.
Hammocks Market Share by Geography
Global Market Customer Landscape
Leading Hammocks Market Vendors
Companies employ various strategies such as alliances and product launches to strengthen their market presence. ATC Furniture offers outdoor patio rattan hanging chairs and bamboo wicker hanging chaise lounges.
Fastest-Growing Segment
The nylon hammocks segment experiences significant growth due to its lightweight, durable, and cost-effective nature. Technological advancements, including automatic folding features, further propel segment growth.
Hammocks Market Size
Explore contributions of various market segments View the PDF Sample
Key Regions
North America is expected to contribute 31% to global market growth, driven by widespread adoption among millennials and university students. The portability and features of nylon hammocks make them popular alternatives to traditional camping gear.
