According to a recent study the global hammocks market is said to increase its Compound Annual Growth Rate (CAGR) of 17.45% during the period 2017-2021.
But what’s causing this increase?
If you’re in the hammock industry you may have been thinking the opposite to this with the prices of raw materials on the rise. Prices of essential raw materials used in hammocks such as cotton, polypropylene and polyester have increased significantly in recent years. This cost inevitably being passed through to the end consumer you would think that the cost of hammocks going up would cause the sales to go down. This study disagrees. So what’s causing this sudden rise in popularity?
There are several factors that may be causing this increase. The UK has jumped on a worldwide bandwagon of loving the outdoors in recent years. Outdoor activities are more popular than ever now and with that new appreciation for mother nature comes a love for chilling in it – in a hammock if you’re lucky enough. The western world seems currently obsessed with mental awareness and wellbeing – which we think is a massive step in the right direction. People seem to be making more time to look after themselves psychologically which means having a mental break from the world now and then. Let’s face it nothing gives your brain a well-deserved tea break than chilling in a hammock on a sunny day. (As one of our happy customers is demonstrating in an Amazonas Techo.)
Probably the main factor causing this rise in popularity is a global increase in of disposable income. After a decade of recessions, deficits and saving for a rainy day it appears people are starting to feel that spending a bit of money on a few luxuries now and then is not such a bad thing.
So if you love the outdoors, feel your mental wellbeing is a top priority and have a few pennies to spare then get shopping on Simply Hammocks and prove the study right! 😉