According to a new report published by Allied Market Research, titled, “Hammock Market by Type, (Spreader bar and Conventional), Material (Cotton, Polypropylene, and Others), and Sales Channel (Offline Channels and Online Channels): Global Opportunity Analysis and Industry Forecast, 2021-2030,” The global hammock market size was valued at $380.2 million in 2020, and is projected reach $639.8 million by 2030, registering a CAGR of 5.8% from 2021 to 2030.
The hammock market is primarily driven by the popularity of outdoor activities among people all around the world. The hammock market growth is positively influenced by travel and recreation industry. Furthermore, increased investment by professional hikers and video loggers on quality gear also drives the market growth.
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In addition, consumers are now becoming more health conscious due to work-related stress and lifestyle disorders. As a result, working individuals opt for fitness regimes such as hiking and adventure tourism to remain healthy, and active in daily life. A large number of individuals are investing their time in performing hiking activities to keep themselves fit and healthy. This has created high demand for hiking gear including hammocks among all age groups, thereby, fostering the market growth.
Sleeping in hammocks can have several health benefits for the body. It can lead to a better sleep and can help relieve insomnia and back pain. Hammocks will move the body naturally into the best position for sleeping and hold the body in the same position.
Furthermore, the users head is slightly elevated above their body, which is perfect for a restful sleep. It also helps the user fall asleep faster, a reason for which is the swaying of the hammock. Sleeping on hammocks also alleviates pressure from the back and shoulders, which also reduces pain in those areas and helps in sleeping more peacefully. While camping or in the house, sleeping on hammocks can help stay away from bugs and insects, especially inside the house, it can help reduce dust mites. These health benefits associated with hammocks are expected to provide lucrative opportunities for the market expansion.
The global report is studied on the basis of type, material, sales channel and region. By type, the global market is bifurcated into spreader bar and conventional hammocks. By material, the market is studied across cotton, polypropylene, and others. By sales channel, the market is segmented into offline channel and online channels.
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Region wise, the hammock market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America leads in terms of market share for 2020, however, Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. Increase in recreational activities like trekking, hiking, tourism, and camping to augment the market growth in the Asia-pacific region.
Covid-19 Scenario
○ The outbreak of COVID-19 pandemic interrupted the sales of hammocks through brick and mortar stores resulting in transition of consumers toward online sales channels to purchase campaigning gear products including hammocks.
○ However, with changing consumer behavior, demand for personalized and premium quality products is likely to increase, which would boost the demand for hammock.
The key market players profiled in the report include:
• Danlong Hammcoks
• Eagles Nest Outfitters
• Golden Eagle Outdoor
• Grand Trunk
• Inca Hammocks
• La Siesta
• Lawson Hammock Company
• Liaoning LuckyJohnny Trading Co. Ltd
• The Hammock Source
• Wise Owl Outfitters
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Key Findings Of The Study
• As per sales channel, offline channels segment leads in terms of market share of the global hammock market; however, online channels segment is expected to gain some market share by the end of forecast period.
• On the basis of material, the Polypropylene segment accounted for around three-forth share of the market in 2020 and is likely to dominate the global market during the forecast period.
• Region wise, North America dominates in terms of hammock market share, however Asia-Pacific region is anticipated to grow with highest CAGR during the forecast period.
• Depending on type, the conventional hammock segment led in terms of market share in 2020, and is poised to grow with robust CAGR in the upcoming years.
• Innovation like rain tarps and bug nets used along with hammocks to aid hammocks market is gaining traction.
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