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What is the GLOBAL market size for ski goggles and, separately, for ski helmets, and what is the projected growth? In both $ amount and sales numbers, if possible.
Hi! Thanks for asking Wonder for the global market size for ski goggles and ski helmets.
The short answer is ski goggles industry is worth $596.1 million and the snow helmet industry is worth $574.6 million.
In order to find the market size and growth for these two products, I consulted primarily market research reports and expert opinion on the ski equipment industry.
SKI GOGGLES
According to Technavio, the global ski goggles industry is projected to grow by CAGR 5% by 2020, though unfortunately the free version of the report does not tell us what the market is currently worth. Its growth is fueled by worldwide increasing interest in outdoor recreation. Additionally, there is also a boost in consumer spending nature-based travels and vacations, also lending itself to a growth in the ski equipment industry. The largest geographical market share is Europe, with 39%.
While the data is specific to the United States, this increase can also be seen in statistics from SnowSports Industries America, showing an increase in equipment accessories purchases every year since 2011. In fact, ski equipment accessories overall has seen a growth of 9.52%, meaning it is growing faster in the North American market.
Unfortunately, there are no free, publicly available reports or samples of reports that give an exact market size for just ski goggles. However, we can use some existing data to calculate this figure. Technavio states the total ski equipment and accessories industry will be worth $5.7 billion by 2020, which is found using a growth rate of 1.19% CAGR. Working backwards, we can calculate 2015's figure to be $5.37 billion ($5.7 billion / 1.0119^5 years).
The only publicly available figures usable for calculating snow goggles market size come from Statista. Statista reports that US snow stores sold $115.5 million worth of snow goggles in 2011. Another report tells us that total ski equipment accessories sales $1.1 billion in 2012-13, up 6% from the previous year. That computes to $1.04 billion across all channels for the previous year (2011). Since we know from SIA that snow sports stores are 55.4% of the market, that means that the snow sports stores market share of 2011 equipment accessories sales is $576 million, and ski equipment sales is $466 million ($841 million x 55.4%). It is necessary to combine these 2 sales categories as the original Technavio report only gives a market size for the entire snow equipment (and accessories) market, whereas they are separate in SIA's data.
Therefore $115.5 million / ($576 million) + ($466 million) means that ski goggles hold a 11.1% market share of the total ski equipment accessories industry. 11.1% of $5.37 billion equals $596.1 million market size worldwide for ski goggles.
SKI HELMETS
Ski helmets are also identified as a key driver in an overall uplift in ski equipment sales. For example, in Canada the usage of helmets went from 30% to 85% in a 12-year period.
However, ski equipment sales have struggled in years where snowfall has been an issue. In 2015, more than 60% of resorts in Japan were closed, for example. However, these declines are mitigated by both an increase in disposable income in market areas (Europe and North America) and increasing ski infrastructure, usually due to Olympic games.
Unfortunately, there are again no free, publicly available market research reports giving a snow helmet market size. Luckily, we can compute this using the same method as above.
US snow sports shops sold $111.72 million of helmets in 2011. Taking the same calculations above, we can use $576 million + $466 million to find the total ski equipment & ski equipment accessories sales for snow sports shop in the same time period ($1,042 million).
$111.72 million / $1,042 million = 10.7% market share for helmets
10.7% x global market size of $5.37 billion for all ski equipment and accessories = $574.6 million
Recent growth rate for snow helmet sales is unknown, as no market research reports have released this data for free. In the US, Statista data shows us that snow helmet sales grew an incredible 13.87% between 2008-2011, but this data is so old that it is not practical to apply the same growth to 2015-2020. 43% Retailers in the UK reported that their sales of helmets grew in 2015, while only 13% said sales were down, meaning there was likely an overall net growth in the product category. Despite deep dive research and analysis, there is no further data available with which to calculate the CAGR for ski helmets 2015-2020. Given the information above, it is likely to be somewhere around the 5% CAGR of the ski goggles industry, since the increased interest in skiing would see people needing helmets as well as goggles, though possibly a slightly smaller growth rate as helmet use has a slightly lower penetration rate.
CONCLUSION
In conclusion, the ski goggles industry is worth $596.1 million and growing at a CAGR 5% by 2020. The snow helmet industry is worth $574.6 million and also growing.
I hope this has been helpful. Please feel free to ask Wonder if you have any more questions!