The report titled "Global Snorkeling Equipment Market Outlook to 2022 - by Equipment’s (Snorkels, Snorkeling Masks, Snorkeling Fins & Other Snorkeling Accessories), by Region (Americas, Europe, APAC & MEA), by Distribution Channel (Company Stores and Specialty Stores, Online, Hypermarkets, Department Stores & Supermarkets and Others)" provides a comprehensive analysis of global snorkeling equipment market, 2012-2022. The report covers market introduction, market nature, market size on the basis of consumer expenditure, market segmentation by equipment’s (Snorkels, Snorkeling Masks, Snorkeling Fins and Other Snorkeling Accessories), by region (Americas, Europe, APAC and MEA) by demand from customers (repeat and new customers) and by distribution channel (Company Stores & Specialty Stores, Hypermarkets, Online Stores, Small Retail Stores). The report also includes segmentation on the basis of prices of equipments namely, snorkels and fins, value chain analysis, SWOT analysis, competitive landscape (Competing parameters, company positioning and competition nature), company profiles for major players (Seavenger, Tabata Co. Ltd., Apollo Sports and Aquatec - Duton Industry) in the market and analyst recommendation.
The report facilitates the readers with in-depth analysis of the existing and future trends & issues. The report is useful for water sports equipment manufacturers, snorkeling equipment manufacturers, distributors, specialty sporting goods stores, department stores, e-commerce portals, customers and other stakeholders to plan their market centric strategies in accordance with the ongoing and expected trends in the future.
Global Snorkeling Equipment Market Size and Overview
Market Overview: International tourist arrivals and international tourism expenditure has been increasing at a steady pace over the review period (2012-2017), globally. Coupled with an increase in interest of people towards soft adventure sports, rising popularity of Snorkeling & adventure sports and growing awareness regarding numerous fitness-benefits of opting snorkeling has primarily supported growth in this industry. Americas has been the biggest market in terms of expenditure incurred by consumers in snorkeling equipment’s followed by APAC, Europe and Middle East & Africa. Increase in demand has also been affected by growing base of Millennials, higher disposable income in major markets, presence of well-established players and expanded distribution network in new regions/countries.
Market Size: Low training cost, increase in variety of snorkeling equipment’s available in the market, primarily, in terms of size, quality, capacity and utility, major players have been using diverse product portfolios and aggressive marketing & sales strategies to position themselves in the market. This has helped the market to grow at a CAGR of close to 5% during 2012-2017. Several leading manufacturers have invested amount in research & development segment to foster product innovations to increase durability and sturdiness of Snorkeling equipment.
Market Segmentation
By Equipment: The snorkeling equipment market has been dominated by snorkels as of the year 2017. Average price of a snorkel is USD 30 as of 2017. Some of the major companies that manufacture snorkels include Aqua Lung International and Cressi Sub. Snorkeling masks held the second largest share in the market as of 2017. With advancement in technologies, the companies have been able to manufacture more technologically advanced masks keeping the consumer preferences in mind. Snorkeling fins, holding third highest position in terms of market share, refers to a pair of finlike accessories worn on the foot or leg for better moment in water. Other equipment in the snorkeling equipment market includes snorkeling vests, clips & attachments, marker & signals, neoprene mask straps, fin straps.
By Region: The global snorkeling equipment market was dominated by Americas in the year 2017. The region occupies the largest share owing to the presence of huge coastline, well-established water sports infrastructure and large number of Snorkeling enthusiasts. In the recent years, Snorkeling has been adopted as a recreational activity along with being taken-up professionally. APAC accounted for the second largest share in the snorkeling equipment market with the presence of increased number of water sporting sites. Europe region also witnessed growth in demand for snorkeling equipment’s with an increase in both consumption and production especially in France & Germany. Middle East and Africa has accounted for the lowest share in the market.
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By New and Existing Demand: In the year 2017, it has been observed that the repeat demand from existing users and new demand from new customers have accounted for a very close share in the market. With up-gradation of products and new launches, customers replace their current equipment’s with the advanced ones. Moreover, with rising competition in various regional championships and a greater number of snorkeling camps being established to attract tourism, repeat demand from existing customers is very strong. Influenced by the health benefits of the sport including enhancing lungs strength and strengthening of vital muscles throughout the body, such as calves, ankles, quads, hamstrings and hip flexors, among others, new customers have been attracted to the market.
By Distribution Channel: Company Stores and Specialty Stores dominate the market in 2017. This sales channel has been highly popular since major large-scale manufacturers of snorkeling equipment usually operate through own brand stores that exclusively sell equipment of their brand. These are known as exclusive brand outlets of the companies located in various countries across the world. The online sales of sports equipment have been gaining high popularity over the years. Online stores and hypermarkets have accounted for an equal share, being second highest contributors in 2017. Some of the major online retailers selling sports equipment are Amazon and Alibaba. Hypermarkets, department stores and supermarkets offer a closer evaluation of products and provide the required support and information to consumers, especially through expert customer service personnel. Some of the well-known stores include Walmart and Tesco.
Competitive Landscape
Competition in the global snorkeling equipment market is highly fragmented due to the presence of large number of regional players. In the Americas, the competition is concentrated however, majority of market leaders have substantial control in terms of good share in 2017. Various manufacturing facilities are based in this region leading to large exports to countries. Similarly is the scenario in Europe. France and Italy have been major manufacturing hotspots. The major players in the market carry out both manufacturing as well as trading. Competition in APAC and Middle East & Africa is still in the growing phase & highly fragmented. Japan, Taiwan and Australia are popular manufacturing destinations. There are about 15-20 major snorkeling equipment manufacturers operating in the global market. These players compete against each other on the basis of parameters such as price, product differentiation (product portfolio size and product innovations), distribution network, geographical penetration/geographical presence and research & development activities.
Future Analysis and Projections
Global Snorkeling equipment market has been anticipated to showcase a sound growth at a CAGR of close to 6% during the forecast period (2017-2022). Growth during this period is expected to be supported by the rising popularity of snorkeling as a recreational and profession activity, increase in the number of snorkeling championships, increase in demand from tourists, increased awareness regarding fitness benefits of snorkeling, expanding geographical presence of major manufacturers, intensifying distribution channels, expansion of online retailing, new product launches, government initiative to promote the usage of protective Snorkeling equipment’s and others.
Key Topics Covered in the Report
- Global Snorkeling Equipment Market Introduction and Market Nature
- Global Snorkeling Equipment Market Size
- Global Snorkeling Equipment Market Value Chain
- Global Snorkeling equipment market segmentation by equipments (Snorkels, Snorkeling Masks, Snorkeling Fins and other accessories), by region (Americas, Europe, APAC and MEA) by demand from customers (repeat and new customers) and by distribution channel (Company Stores & Specialty Stores, Hypermarkets, Online Stores, Small Retail Stores)
- Global Snorkeling Equipment Market SWOT Analysis
- Competitive Landscape in Global Snorkeling Equipment Market
- Company profiling for major players in Global Snorkeling Equipment Market
- Global Snorkeling Equipment Market Future outlook and projections
- Analyst Recommendations in Global Snorkeling Equipment Market
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