The global archery equipment market size was valued at USD 2.42 billion in 2023 and is projected to reach USD 3.14 billion by 2030, growing at a CAGR of 3.9% from 2024 to 2030. The market growth is primarily driven by the rising popularity of archery as both a competitive sport and recreational activity.
The inclusion of archery in the Olympics and international tournaments has significantly boosted the sport’s visibility, encouraging more people to take it up. Beyond competitive platforms, archery is gaining popularity as a leisure activity, particularly among individuals seeking outdoor hobbies or stress-relieving exercises. This appeal is especially strong in regions with traditions of hunting and outdoor sports, where archery complements cultural pastimes.
Technological innovations have made the sport more accessible to newcomers and more attractive to seasoned archers. Advances such as compound bows, crossbows, and precision sight systems have improved performance, customization, and ease of use, broadening the consumer base. Moreover, archery’s unique ability to combine physical fitness with mental focus aligns with global trends in wellness, mindfulness, and concentration-driven activities.
The supportive infrastructure around competitive archery—including regional, national, and international tournaments, dedicated ranges, skilled instructors, and online learning platforms—is creating an ecosystem that sustains and grows participation. As more people engage in competitive and recreational archery, the demand for specialized, high-quality equipment continues to rise.
Key Market Insights:
- North America dominated the archery equipment market in 2023 with a revenue share of 36.4%.
- The U.S. market is anticipated to grow at the fastest CAGR during the forecast period.
- By equipment, the bows segment held the largest revenue share at 48.0% in 2023.
- The arrows segment is expected to grow at the fastest CAGR of 4.5% from 2024 to 2030.
- By distribution channel, sporting goods retailers led the market with a 57.04% revenue share in 2023.
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Market Size & Forecast:
- 2023 Market Size: USD 2.42 Billion
- 2030 Projected Market Size: USD 3.14 Billion
- CAGR (2024–2030): 3.9%
- North America: Largest market in 2023
Key Companies & Market Share Insights:
The market is characterized by intense competition, driven by innovation, regional capabilities, and evolving consumer preferences. Leading manufacturers are focusing on R&D, partnerships, and acquisitions to expand their product portfolios and global reach while ensuring compliance with international standards.
Recent Developments:
- In February 2023, Heritage Outdoor Group acquired Precision Shooting Equipment (PSE) Inc., one of the leading U.S. archery equipment manufacturers. Heritage plans to maintain PSE’s “Made in the USA” reputation while focusing on marketing and sales, as both companies continue to operate independently.
Key Players:
- Easton Archery
- Hoyt Archery
- Mathews Archery
- Bear Archery
- PSE Archery
- Bowtech Archery
- SAS (Southwest Archery)
- Black Gold Sight
- Apex Gear
- Scott Archery
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Conclusion:
The archery equipment market is on a steady growth path, fueled by increasing participation in sports and recreational activities, technological innovation, and supportive infrastructure. With North America leading and the U.S. market expected to expand rapidly, manufacturers are focusing on advanced equipment, consumer engagement, and strategic partnerships to capture growth opportunities in this evolving industry.
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