The global survival kit market is expected to witness growth with a CAGR of 3.9% during the forecast period. A survival kit is a device that provides essential supplies during an emergency. Survival kits are usually used by armed forces and also by civilians while preparing for natural or manmade disasters. The purpose of survival kits is to supply life-saving items during an emergency where basic necessities are unavailable. Survival kits include items like medical supplies, tools, water, and other equipment.
The rise in the need for safety solutions due to an increase in natural calamities is driving the growth of the survival kit market. Natural calamities are unpredictable in nature but can be managed to a great extent. The basic survival kit used during natural calamities includes materials to keep the body warm, fresh water, food, and others. This basic survival kit is referred to as bug-out-bag, which contains basic survival items used during natural calamities.
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However, the lack of awareness about survival kits is hampering the growth of the market. Despite a number of government initiatives, people are still not aware of the importance of survival kits and thus, face problems such as unattended injuries, starvation, and dehydration, when caught in calamities or disasters. Disasters are uncertain in nature but a few of them can be avoided by taking preventive measures. A well-prepared and versatile survival kit has proved to be an effective tool in any type of disaster.
Moreover, the increasing demand for survival kits in military is creating opportunities for the market during the forecast period. The military approved survival kits are specially manufactured to serve the army during wars. This survival kit is capable of saving life and is durable enough to handle the wear and tear of a combat environment. The military survival kit contains water purification tablets, medical equipment, foot powder, anti-fungal creams, and others.
The key players operating in the survival kit market are Honeywell Safety, Certified Safety Manufacturing, Johnson & Johnson, Fieldtex Products, 3M Company, Tender Corporation, Levitt-Safety, Cintas Corporation, Acme United, Lifeline products, and others. Companies operating in this market are concentrating on research and development, along with acquisitions & mergers and innovation in products, in order to strengthen their market share. For instance, in October 2017, Acme United Corporation announced the acquisition of First Aid Only distribution and manufacturing centre in Vancouver and owing to this acquisition, the company will try to increase its market share.