Winter Sports Gear Market: Trends, Growth, and Opportunities for 2024 and Beyond

When you read today’s newsletter, you might be on your way to a vacation spot for this winter holiday. So today, we’re gonna chat about some fun activities you usually love this time of year – winter sports and the equipment that goes with them. Let’s slide in!

Winter Sports Equipment Market Size

The winter sports gear market was estimated to be worth roughly 15.56 billion USD in 2023, and it’s expected to climb from 15.76 billion USD in 2024 to 24.56 billion USD by 2032. They’re predicting a CAGR of around 5.7% over the next eight years.

Equipment Type Insights

The global winter sports equipment market includes a bunch of products like snowboard and ski gear, clothing, helmets, goggles, and boots. It's worth mentioning that the equipment type segment is mainly made up of ski and snowboard gear, but skis still take the lead. In fact, skis hold a solid 64.6% share of the global winter sports equipment market. Snowboards come in as the next big contender after skis. They've really evolved, now available in all sorts of shapes, each tailored for specific riders or terrains, and made from different materials and designs. Helmets, in particular, are becoming a must-have for most winter sports fans. The latest designs offer way better comfort, ventilation, and impact resistance. All these products really influence the global winter sports equipment market since they’re driven by what customers need.

Target Audience Insights

The number of people getting into ice and snow sports isn’t huge, but the good news is it’s growing every year, except for a small dip in 2020. In the winter of 2022/23, we saw over 370 million skier visits worldwide.

This market targets a mix of people, including casual skiers, professional athletes, kids and teens, seniors, and those with disabilities. Casual skiers are the biggest group, making up about 60% of the market, thanks to the rising popularity of winter sports for fun. Professional athletes, while smaller in number, contribute a chunk of revenue because they need high-end gear. Kids and teens are a quickly growing segment, with more joining youth winter sports programs. The market's growth is expected to be fueled by increasing disposable income, tech advancements, and more awareness of the health perks of winter sports.

Looking at our end-users, we can break them down into men, women, and kids. The men's segment held about 52% of the total market share in 2023 and is projected to grow at a CAGR of 3.8% during the forecast period.

Regional Insights

North America led the market in 2023, grabbing about 38.5% of the global revenue, and it's expected to keep that lead for the next eight years. More and more young people and millennials are getting into winter sports. Back in 2019-2020, around 25.1 million Americans aged 6 and up joined in on the fun.

Over in Europe, the winter sports equipment market is projected to hit about US$7bn in revenue in 2024. It’s expected to grow at an annual rate of 3.35% from 2024 to 2029. That means each person in Europe is set to bring in around US$7.87 in revenue for the market in 2024. Switzerland is seeing a big rise in demand for high-end ski gear, as its wealthy population is on the lookout for top-quality equipment for their winter sports adventures.

In the Asia Pacific region, a growth rate of 6.6% is expected from 2024 to 2028. The growing love for winter sports among young folks and the boost in winter tourism across different parts of the area are key factors fueling the demand for winter sporting goods. China and India are becoming popular spots for winter tourism and sports in the Asia Pacific.

Main trends & challenges of the winter sports equipment market

The winter sports gear market is really picking up steam, thanks to tech advancements, more people getting into winter sports, and a growing focus on safety and sustainability. We can expect some exciting prospects along with a few challenges ahead.

Trends

Increasing participation in winter sports activities. Winter sports are becoming super popular among young folks and millennials. Back in 2019-2020, about 25.1 million Americans aged 6 and up got into winter sports. People with a bit more cash to spend are more likely to buy winter sports gear.

Enhanced Safety Gear: There’s a rising demand for gear that puts user safety first. Products like the Mammut Barryvox S2 avalanche transceiver come with advanced rescue features, showing this trend.

E-commerce Growth: The convenience of online shopping has led to more purchases of winter sports equipment through e-commerce sites, with shoppers loving the huge selection and competitive prices available online.

Technological advancements: New tech is really helping to boost the market. Manufacturers are using advanced materials and technologies to up performance and safety. For example, the Phaenom Fr 01 110 ski boots have an innovative three-part shell design that makes them more comfortable and functional.

Challenges

High costs for buying winter sports gear are mainly due to economic downturns and fluctuations. This price issue is a big hurdle for winter sports lovers. We’re noticing a significant drop in guests aged 65 and up, and there’s also a shortage of young people getting involved, whether in elite sports or just for fun. In the "Best Ski Resorts" study, which surveyed nearly 50,000 guests across 54 ski resorts in the Alps in 2023, satisfaction took a hit for the second time. This is tied to the price-performance ratio: ski pass prices, as well as the costs of lodging and meals, have gone up quite a bit. While it makes sense that prices are rising due to the current economic climate and various efforts for better climate protection, it brings us to the second challenge: climate change.

Climate change is really affecting winter sports, creating serious problems for Nordic and Alpine disciplines. The CO2 snow trail definitely needs to be cut down. According to Skimagazin, this figure is already almost 90% in Austria and around 74% in Germany, according to J?rn Homburg. The newer snow groomers from K?ssbohrer or Leitner can be run with HVO fuels (Hydrotreated Vegetable Oil), which is made from things like deep-frying fat. This can reduce CO2 emissions by 90%.

The risk of injuries tied to winter sports activities is another concern for enthusiasts. In 2022, the U.S. Consumer Product Safety Commission reported an estimated 124,700 winter sports-related injuries treated in emergency rooms across the country. Of those injuries, 53% were linked to snow skiing and snowboarding, and 17% happened during ice hockey.

Strategies for brands and manufacturers

Based on the trends in winter sports equipment consumption, brands and manufacturers can adopt the following strategies to capitalize on market opportunities.

Sustainability on materials

Your brand can be a real trailblazer in pushing for sustainable winter sports gear. Whether it's sourcing wool that meets high animal welfare standards or cutting down on environmental impact during production, you're making a difference. You're actively involved in fair trade and ethical partnerships, promoting second-hand use and recycling of clothing. In the 2022/2023 season, about 70% of the 396,000 pairs of skis sold in Austria (both alpine and touring) were rented out—10% more than before the pandemic.

Marketing with winter sports resorts

According to the NSAA numbers, big resorts snag about 60% of American skiers and snowboarders every year, which means folks are probably heading to trendy spots like Aspen or Telluride.

In China, popular ski spots like Changbai Mountain and Songhua Lake Resort in the northeast are also pulling in a ton of fans every year. Brands in the winter sports scene, like Fendi and Burberry, are rolling out marketing campaigns that showcase ski gear like goggles and snowboards along with refreshments, highlighting a trend of immersive and fun strategies.

These efforts from winter sports brands in China aim to connect with consumers in unique and memorable ways, mixing the brand's vibe with the stunning scenery and recreational fun of the locations. This trend shows a shift towards creating brand experiences that engage multiple senses and create memorable moments for consumers.

Hold experiential activities and emphasize the product's protection of the body

The National Ski Areas Association (NSAA) reports that 96% of people wear helmets while skiing, showing that winter sports enthusiasts really care about safety and health. The growing popularity of advanced and stylish winter sports gear, like heated jackets, ski suits, ski pants, and moisture-wicking base layers, is driving this trend. Thanks to better technology, manufacturers are focusing on creating practical items to meet the evolving needs of customers when it comes to safety and health.

Social media & KOL marketing

Social media platforms are a game-changer for sports equipment companies when it comes to marketing. By connecting with customers on social media, companies can show off their products, share cool content, and build a community around their brand.

Athletes today aren’t just the players we watch on the field; they’re also shaping sports marketing with their unique vibes and huge fan bases. They're stepping into the roles of content creators and influencers, acting as key links between brands and fans. A notable 61% of Gen Z sports viewers trust recommendations from their favorite athletes, and 45% say these athlete influencers have inspired them to buy clothing!

If you’re thinking about jumping into the winter apparel or equipment market, or if you’re working on a winter sports campaign, we’ve got a ton of experience and know-how to help get your project started or give it a once-over.

Reference

Winter Sports Trends for Ecommerce Brands to Sell in 2024. Clear Finance Technology Corporation

10 Marketing Strategies for Ski and Snowboard Resorts. Peek Travel Inc.

Global Winter Sports Equipment Market Growth, Share, Size, Trends and Forecast (2024 - 2030) Reanin.

Europe Winter Sports Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029) Source: https://www.mordorintelligence.com/industry-reports/europe-winter-sports-equipment-market-industry Ski Gear and Equipment Market Size – By Product Type, By Sport Type, By End-User, By Distribution Channel, Analysis, Share, Growth Forecast, 2024 - 2032

The Rise of Sustainable Winter Sports Equipment. Jans Mountain Outfitters

Winter sports brands in China’s post-winter olympics era. Daxue Consulting China.

Winter Sports Equipment – Europe. Statista

Winter Sports Equipment – Asia. Statista

Winter Sporting Goods Market Size, Share & Trends Analysis Report By Product (Sleds And Tubes), By Distribution Channel (Online And Offline), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2021 – 2028

5 contradictions in winter sports: how can the climate turnaround succeed? ISPO

Common Winter Sports Injuries and How to Treat Them: Expert Advice and Tips. Academy Orthopedics LLC

Marketing Strategies for Sports Equipment Companies, HIVO

Gear guide: what to buy skiers this winter. Financial Times