Global Hammocks Market is expected to grow at a CAGR of 17.45% during the period 2017-2021.
“The latest trend gaining momentum in the market is Popularity of rocking chair hammocks. Hammocks are currently being subjected to continuous innovations to cater the growing demand for leisure products. Vendors have come up with a combination of a rocking chair with hammock. Although they sacrifice the swinging ability of the hammock, they make up for that with the rocking ability. These products have a woven seat with a circular shape, which serves as a hammock canopy. These are more comfortable than traditional chairs good and are good for people who are unable to use traditional hammocks. Rocking chair hammocks are made of a metal frame that rocks back and forth. Cotton fabrics are attached to the frame through three different styles of weaving. Hammocks can hold a weight of up to 176 lbs and are large enough to hold a person.”
“According to analysts forecast the global hammocks market to grow at a CAGR of 17.45% during the period 2017-2021.”
According to the report, one of the major drivers for this market is Increasing participation in outdoor recreational activities. With the increase in fast-paced and hectic lifestyles, growing health consciousness, and need to engage in physical exercises, consumers, especially in regions such as Europe and North America, are opting for various ways to de-stress. Hence, they are willing to take up outdoor fun and adventurous activities, thereby pushing the demand for leisure activities and outdoor sports. A global increase in disposable income has also raised expenditure on recreational activities. Thereby further creating a high demand for outdoor activities such as camping. These factors are the primary drivers that will boost the global hammocks market during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is Uncertainty in the prices of raw materials. The rising prices of high-quality raw materials will increase the overall manufacturing costs of hammocks. This added cost is usually transmitted to consumers in the form of increased prices, which can restrict volume purchases. Cotton, polypropylene, and polyester are the major raw materials used in the manufacture of hammocks. Recent hikes in commodity prices and the scarcity of raw materials had a negative impact on the profit margins of hammock manufacturers. On the other hand, the increased manufacturing capacity in China has particularly created a global shortage of raw materials. This is particularly evident in the prices of natural fibers such as cotton. The prices of artificial fibers like polypropylene and polyamide have also increased. The sheer scale and frequency of rises in the price of commodities have posed a significant challenge for the vendors in the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.