The camping market has come forward to witness a number of changes that have managed to take things from a particular window and revolutionise them to a significant extent. With factors like demand coming into the picture, one will not be surprised at the kind of growth that is being experienced by the camping market. So in order to evaluate how things are going, we decided to go into the camping market and pull out some details. Hence, here is a brief take on the camping market.
1. The Global Report
The kind of changes that are being witnessed by the market in one country is quite similar to what most countries are facing. Based on global reports, the camping market was valued at $2.14 billion in 2018. While these figures projected an excellent form of return, it was known that things are bound to move ahead. As a result, the projected expansion of 6.3% also came into the picture, as it will take place from 2019 to 2025.
2. Growing Interest
One of the main reasons that were associated with this form of growth was the growing interest that people had towards adventure activities. Over the years, the idea about exploration and the thrill to seek adventure has risen. Everyone wants to know what it feels like to live life a bit differently. As a result, you will come across a number of people who would happily go on a camping trip across their country.
This was quite visible in the US back in the year 2016. According to a report published by the Physical Activity Council in April 2017, the country witnessed over 11 billion outdoor outings in 2016. These figures are turning out to be universal aspects for major countries across the world. Thanks to this demand, manufacturers are also leaving no stone unturned to make matters right.
Tunnel tents have turned out to be a considerable product segment that was highly valued in 2018. From then onwards, things have been going on an upwards slope, barring the current pandemic across the world. But despite all odds, manufacturers refuse to give up as the product segment, and the industry, in general, has shown the potential to grow and expand. Due to that, the CAGR for this particular segment is projected to grow from 2019 to 2025.
Thanks to the growing potential witnessed by the industry, major companies and organisations may never prevent success from moving away. Due to that, you might witness significant changes in the industry over the next course of years. If things go right, then even you might go on a camping trip to understand the aspect of adventure.