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Paintball equipment market will continue to witness a slackened growth through 2028, according to a new Fact.MR study. Growth of the paintball equipment market continues to remain sustained by factors such as rising participation rate in recreational sports and popularity of paintball among Millennials. Inclination of individuals toward indoor role-playing games (RPG) has raised enthusiasm in confrontational sporting activities, which will further uphold sales of paintball equipment in the forthcoming years.
Sales of paintball equipment though the direct-to-customer channel are estimated to be on an upswing in the coming years, accounting for a larger share in the paintball equipment market. According to the report, the sales of paintball equipment through direct-to-customer channel are expected to cross US$ 170 Mn by 2028.
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On the other hand, proliferation of e-commerce is expected to auger well for sales of paintball equipment. Enthusiasts are relying on online platforms to purchase paintball equipment owing to higher convenience, reliability and pocket friendly features. Paintball equipment manufacturers can leverage the reach of online platforms to tap new customers. Sales of paintball equipment via third party online channels are projected to expand at higher rate throughout the period of assessment, albeit at a relatively lower base, says Fact.MR.
Non-profit organizations are striving to increase awareness in a bid to enhance female participation in paintball sports. Organizations such as the Asian Girls Paintball International Championship, are conducting events to promote the sport among females which is likely to augment the demand for advanced paintball equipment in the forthcoming years. A steady increase in women participation in the game is likely to contribute to the overall paintball equipment sales, albeit at a lower base, says the report.
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The demand for paintball equipment such as paintballs is projected to increase at a significant pace throughout the forecast period. Sales of paintballs are likely to be on an upswing on the back of increasing developments such as use of gelatin paintballs that reduce injuries during a direct hit. The paintball equipment market is also influenced by growing innovations in secondary paintball equipment such as goggle cloths and loaders.
Sales of paintball equipment are likely to remain concentrated in the developed regions of North America and Europe. North America is expected to showcase higher market attractiveness for paintball equipment owing to a higher participation rate. For instance, according to SFIA (Sports and Fitness Industry Association), participation of people in paintball activity from United States alone was 3,707,000 in 2016 and is expected to increase in the coming years. Moreover, macroeconomic aspects such as higher GDP per capita of the region is expected to support the growth of the paintball equipment market in North America.
The paintball equipment market is also influenced by growing events and championships worldwide, for instance associations such as EPBF (European Paintball Federation) are promoting the sport across European countries by conducting world championships hosted in European countries. This is likely to augment sales of paintball equipment, in turn providing potential growth avenues for paintball equipment manufacturers in the forthcoming years.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/01/28/1706082/0/en/eSports-Market-to-Surpass-US-6000-Million-by-2028-on-Back-of-Growing-Popularity-Among-Enthusiasts-Fact-MR.html
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