August 20, 2020
According to the research report titled ‘Global Darts Market Size study, by Product (Soft Tip Darts, Steel Tip Darts) by End-User (Amateur, Professional) and Regional Forecasts 2020-2027’ available with Market Study Report, global darts market is expected to grow substantially over the period 2020-2027.
For the record, darts is a sport that involves two or more players who aim at a dashboard with small spikes called darts.
As per industry experts, rising disposable income coupled with increasing number of entertainment clubs, sports bars, and hotels are prime factors fueling the growth of global darts market. Rising adoption of darts due to increasing awareness of the sport is also propelling the market expansion.
In fact, the National Restaurant Association claims that in the year 2019, the bar and tavern segment witnessed an upsurge in revenue by 2.5% than the previous year, subsequently accounting for around USD 19.8 million by the end of the year. On the contrary, lack of skilled professionals taking part in the sport may act as a restraining factor to the expansion of global darts market.
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Based on the product terrain, global darts market is split into steel tip darts and soft tip darts. With regards to the end-user spectrum, the market is divided into professional and amateur.
Elaborating on the regional analysis, global darts market is segmented into North America, Asia-Pacific, Europe, Latin America, and rest of the world. The country-level bifurcation of the market includes Canada, U.S., Australia, Japan, South Korea, India, China, rest of Asia-Pacific, Italy, Spain, France, Germany, United Kingdom, rest of Europe, Mexico, and Brazil.
Industry experts claim that North America dominates global darts market in terms of market share and is expected to register consistent growth throughout the forecast period. High concentration of sports bars in the region is favoring the market scenario in North America.
On the other hand, Asia-Pacific darts market is expected to register the highest CAGR over 2020-2027. Rising trends of entertainment clubs & hotels along with increasing disposable income are complementing the business outlook in Asia-Pacific.
The major companies that define the competitive landscape of global darts market include GLD Products, Carrera, KO Steel Tip Darts, Black Widow Darts, Cuesoul Sports Inc., Bottelsen Dart Co., Arachnid Inc., Winmau, Harrows Darts, and Viper among others.