Authored By: Sarah
03 Dec 2020

Hammocks Market Size to Grow by USD 470.76 mn through 2020-2024  

Technavio research projects the hammocks market to grow by USD 470.76 mn, accelerating at a CAGR of almost 16% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Hammocks Market: Key Market Driver

One of the primary factors that will trigger the growth of the hammocks market size is increasing participation in outdoor recreational activities. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Hammocks Market to Grow by USD 470.76 Million through 2020-2024 | Increase in Marketing and Promotional Activities to Drive Growth

Hammocks Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ATC Furniture, Best Choice Products, Danlong Hammocks, Eagles Nest Outfitters Inc., GRANDTRUNK, INCA Hammock Manufacturing & Export Pvt. Ltd., KW Hammock Co., LIAONING LUCKY JOHNNY TRADING Co. Ltd., Pawleys Island Hammocks, and Vivere Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

The Global Hammocks Market is expected to grow by USD 470.76 million accelerating at a CAGR of over 16% during the forecast period. The consumer discretinary market is expected to witness negative growth as a result of COVID-19, and the impact of the pandemic on the market in focus is also expected to be NEGATIVE and inferior. Technavio evaluates the market with a detailed investigation into the market forces, emerging trends, and growth drivers. It also provides competitive benchmarking to equip clients with actionable insights that will help them navigate through the current market scenario. Preview our latest report with COVID-19 Impact Analysis

"Various hammock swing manufacturers are trying to increase their market shares by adopting marketing and promotional strategies, which is likely to boost market growth", says senior research analyst for the Consumer Discretionary Industry at Technavio.

Hammocks Market to Grow by USD 470.76 Million through 2020-2024 | Increase in Marketing and Promotional Activities to Drive Growth

Hammocks Market: MaterialSegment Highlights

  • Material Segmentation: Nylon hammocks, rope hammocks, canvas hammocks, and other hammocks
  • Nylon hammocks segment dominated the market in 2019 as they are light in weight and can be easily dried. They are also convenient to launch and wrap.
  • The demand for these hammocks will continue to increase during the forecasted period because they are strong in terms of fabric in comparison to other sling hammocks. The preference for nylon hammocks is high among consumers because they are cheaper and easily available.

Hammocks Market: Competitive Analysis

  • The Hammocks Market is fragmented due to the presence of several vendors.
  •  Various hammock swing manufacturers are trying to increase their market shares by adopting marketing and promotional strategies. Also, leading competitors are focusing on retaining their market position by acquiring new brands. 
  • ATC Furniture, Best Choice Products, Danlong Hammocks, Eagles Nest Outfitters Inc., GRANDTRUNK, INCA Hammock Manufacturing & Export Pvt. Ltd., KW Hammock Co., LIAONING LUCKY JOHNNY TRADING Co. Ltd., Pawleys Island Hammocks, and Vivere Ltd. are some of the major market participants. Although the increasing participation in outdoor recreational activities will offer immense growth opportunities, the uncertainty in the prices of raw materials will challenge the growth of the market participants. 

Technavio provides custom research reports with detailed insights on the impact of COVID-19 with respect to the industry, region, and supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations. Download a Free Sample Report 

Read News Read Less
Interested in this report?
Get your sample now!
Technavio