The Global Survival Kit Market was valued at USD 1.1 Bn by 2020 and is expected to reach USD 1.7 Bn by 2027, with a growing CAGR of 7.0% during the forecast period.
Survival Kit Market Definition
Survival kit is the collection of equipment's, supplies and tools that are prepared as an aid to pull through in an emergency. Populations living at remote locations, civilians such as surveyors, forestry which are manifested to the extreme climatic conditions are equipped with survival kits. The survival kits normally include tools such as knifes, matches, fishhooks, ropes, and first aid kits etc.
Survival Kit Market Dynamics
The driving factors influencing the global survival kit market include increase in number of accidents, rise in occurrence of unexpectable natural disasters such as flood, earthquake, and rise in camping enthusiasm in youths. Moreover, growing concerns about individual safety, rise in survival tools applications, and growing government supports for investing and promoting survival kits leverage the growth of the global market. For instance, Ultima Replenisher joined hands with BStrong and Fitsnack to supply necessities in the form of survival kits to needy homes and hospitals during coronavirus outbreak. With growing rate of infections across the world, selfcare and proper hydration has become key to survive in coronavirus. However, lack of awareness regarding availability of survival kits and its importance hinders the growth of survival kit demand across the globe.
Global Survival Kit Market Segmentation:
By Product Type
Company Profiles and Competitive Intelligence
The key players operating in the survival kit market are:
Based on applications, military segment is expected to hold the largest market share during forecast period owing to increase in use of survival kits by army forces
Based on applications, survival kit market is segmented into military kit, vehicle kits, natural disaster kits, and lifeboat survival kits. Military segment held the largest market share in 2020 and is expected to increase more during forecast period due to increase in number of military army admission and sudden occurrence of war on the fields that require safety kits at individual level. Moreover, varieties of military survival kits are present based on the different need for military operations. For instance, survival kits used by army in deserts include sunglasses, ropes, hooks, and medicinal kits. Owing to these benefits, the demand for survival kits is expected to increase during forecast period.
Based on geographical region, Asia-Pacific is expected to witness fastest market growth with highest CAGR during forecast period due to emergence of large number of companies in manufacturing & supply of survival kits
Based on geographic region, Asia-Pacific is anticipated to witness fastest market growth in 2020 and is expected to increase more during forecast period owing to rising number of natural disasters in this region, growing government support in spreading awareness regarding importance of survival kits, and development disaster management. Moreover, emergence of major market players in this region and growing collaborations of public-private industries further boost the growth of survival kit industry.
The report also provides an in-depth analysis of survival kit market dynamics such as drivers, restraints, opportunities, and challenges
COVID-19 Impact on the Survival Kit Market Analysis
Covid-19 has partially impacted the growth of survival kit industry. Sudden emergence of covid outbreak lead to decrease in demand for survival kits due to imposition of government guidelines on movement and social distancing. This tends to decrease in number of trekking and adventurous activities among population. Moreover, manufacturing and supply chain of survival tools & kits affected the growth of survival kit industry. Although the supply of survival kits to the military and armed forces remains unaffected with the covid pandemic. There was continuation in supply of survival kits to the remote civilization and armed forces across the globe. After sudden covid-19 outbreak, there was addition of hygienic products in survival kits such as sanitizer, gloves, face mask that increased the demand for the survival kit products in survival kit market across the globe.
The report also provides an in-depth analysis of key trends in survival kit market
|1||Emergence of advances in mechanical survival equipment's and growing surge for adventurous activities||Positive|
|2||Additional items must be included in emergency or survival kits during covid-19 are face coverings, disinfectants, hand sanitizer and other cleanliness supplies||Positive|
The report also provides an in-depth analysis of recent news developments and investments
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