Lucintel’s latest market report analyzed that trekking and hiking provides attractive opportunities in the clothes, footwear, backpack, and equipment markets. The trekking and hiking market is expected to reach $182.9 billion by 2028 with a CAGR of 6%. In this market, clothes is the largest segment by product.
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Based on product, the trekking and hiking market is segmented into clothes, footwear, backpack, equipment, and others. The clothes segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the increased demand for hiking apparel in line with a changing lifestyle and growing consumer participation in hiking activities.
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The Trekking and Hiking Market is marked by the presence of several big and small players. Some of the prominent players offering trekking and hiking include The North Face, Mountain Hardwear, Black Diamond Equipment, Marmot Mountain, and Amer Sports.
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