The Global Survival Kit Market is growing at a CAGR of 7.0% and is projected to reach USD 1.7 Bn by 2027.
The global survival kit market is driving major growth in increasing public awareness regarding survival kits and its applications in different fields such as military, vehicles, lifeboat, and naturals disasters. Moreover, sudden outbreak of natural phenomenon's such as hurricane, mudslide and tsunami leverage the demand for the market.
Increasing government initiatives in disaster management thrives the demand for the market. For instance, in March 2021, National Coordinator for the reduction disasters noted the emergence of Pacaya volcano in Guatemala has flared up ashes and gas reaching up more than 4500 meters to the sea level. The government suggested the supply of 72-hour survival kits to the families and emergency kits for pets, this initiative leads to spread awareness regarding availability of 72-hour backpack survival kits for emergencies. This created opportunity for key market players for the development of more innovative and essential pack of survival kits in the market.
The covid-19 outbreak has partly impacted the growth of survival kit industry due to sudden decline in demand for survival kits. The major importance was given to the combat with outspread of corona infection. There was decrease in adventurous activities due to lock down across the globe. However, supply of survival kits to the armed forces and frontline medical staff were impregnable. This helped to maintain the revenue of the survival kits companies during covid-19 pandemic.
Global Survival Kit Market by Region Outlook (Revenue, USD Million, 2021-2027)
Based on region, North America dominated the market in 2020 due to presence of strong government initiatives for developing and promoting usage of survival kits. Moreover, increase in number of unavoidable disasters and increase in volume of public participations in trekking boost the survival kit market. Further, powerful support of government in motivating people for developing or buying survival kits that further uplifts the demand of survival kits in North America during the forecast period.
The Global Survival Kit Market Segmentation:
Global Survival Kit Market by Product Type Outlook (Revenue, USD Million, 2021-2027)
Global Survival Kit Market by Application Type Outlook (Revenue, USD Million, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the survival kit market are: