Hammocks are comfortable portable beds that can be hung between two trees or posts for resting, camping, relaxing or swinging. Hammocks provide relaxation to the body and mind and help in stress reduction. Rising participation in outdoor recreational activities such as camping, trekking, hiking and adventure sports has been a key driver propelling the demand for hammocks globally.
The global hammock market is estimated to be valued at US$ 437.9 Mn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the hammock market are INCA Hammocks, Macrame Hammock, Amazonas , Wise Owl Outfitters, Avion Gear, Foxelli, The Hammock Expert, REI, Winner Outfitters, Hammock Sky, Grand Trunk, Golden Eagle Outdoor, Eagles Nest Outfitters, Lazy Daze Hammocks, Elevate Hammock Company, The Mexican Hammock Compan, WeDo Hammocks, and Burford Barn Ltd. The key opportunities in the hammock market include rising adoption among millennials and generation Z for relaxation as well as adoption for commercial applications like cafes, hotels, resorts etc. Globally, the hammock market is expanding in regions like North America, Europe, Asia Pacific owing to increasing spending on outdoor recreational activities and influx of new hammock product variants.
Market drivers
One of the key drivers for the hammock market is the increasing participation in outdoor recreational activities. According to statistics, outdoor recreation saw a rise of over 7.1% in participation between 2014 and 2015 alone. Activities like camping, hiking, trekking require equipment like hammocks for resting outdoors comfortably. The growth in outdoor recreation is being driven by increasing health awareness, adventurism among millennials and generation Z as well as increasing spending capacity on leisure and travel globally. This rising participation in outdoor activities has boosted the demand for multifunctional hammock equipment over the forecast period.
PEST Analysis
Political: The hammock market is regulated by various safety and quality standards set by governments. Changes in trade policies and regulations can impact imports/exports of hammock products.
Economic: Economic growth and rising incomes have increased demand for outdoor recreational activities and leisure products. However, an economic slowdown can negatively impact discretionary consumer spending on hammocks.
Social: Hammocks are increasingly gaining popularity for relaxing outdoors and as decor items indoors. The growth of ecotourism and demand for sustainable products have benefitted organic and eco-friendly hammock producers.
Technological: Advancements in fabric materials like breathable cotton and parachute nylon have enhance hammock comfort and durability. Some producers integrate features like integrated bug nets use smart materials.
The geographical regions where the Global Hammock Market Regional Analysis is concentrated in terms of value are North America and Europe. The demand for hammocks is high in the United States, Canada, Germany, United Kingdom and France due to increasing outdoors activities and home furnishings trend.
The Asia Pacific region is the fastest growing market for hammocks. Countries like China, India and other Association of Southeast Asian Nations (ASEAN) countries are witnessing rising disposable incomes, growth in tourism and outdoor recreation activities. E-commerce proliferation has boosted hammock product discovery across both urban and rural areas in the region. Rising health awareness is prompting many to spend time relaxing outdoors, benefiting the hammock category.