A tent is a structure supported on the ground to provide shelter from wind, rain, and sunlight, serving as temporary accommodation. Made of versatile canvas and accompanied by accessories, it can be disassembled and relocated at any time. Tents are transported in parts and assembled upon arrival at the site. Therefore, various components and tools are required. Only by understanding the names and functions of each component and becoming familiar with the tent's structure can one set it up quickly and conveniently.
A tent is a structure supported on the ground to provide shelter from wind, rain, and sunlight, serving as temporary accommodation. Made of versatile canvas and accompanied by accessories, it can be disassembled and relocated at any time. Tents are transported in parts and assembled upon arrival at the site. Therefore, various components and tools are required. Only by understanding the names and functions of each component and becoming familiar with the tent's structure can one set it up quickly and conveniently.
Analysis of the Current State of the Tent Market
Camping gear is selling well in tropical regions, with products like tents and folding tables and chairs seeing year-on-year growth of approximately 3-5 times. The entire outdoor equipment market is moving toward refinement and personalization.
Data from an e-commerce platform shows that since January this year, outdoor tent sales have increased by 119%, while outdoor bench sales have surged by 239%. Among these, camping gear such as large tents, sunshades, and folding tables and chairs have more than doubled in sales. China has 45,000 camping-related enterprises, nearly half of which were established in 2021.
With rapid economic growth, China's outdoor goods industry is booming. Its massive market scale and promising development prospects have attracted numerous domestic enterprises to invest in outdoor product development.
Survey data indicates there are currently 1.653 million outdoor goods-related enterprises in China. In terms of registered capital distribution, 72% of these enterprises have registered capital below 1 million yuan, 22% fall between 1 million and 5 million yuan, and 6% exceed 5 million yuan. Some outdoor gear companies have gone public, such as MGOODY and Tracker. Founded in 2006, MGOODY has a registered capital of 66.69 million yuan. The company's primary operations include brand management (its proprietary brand MOBI Garden) and OEM/ODM services for camping tents. Its brand business primarily targets the domestic market.
Analyzing Mugaodi's core product lines, in 2021, tent revenue and costs exceeded those of apparel, footwear, and accessories, though tents yielded a lower gross profit margin than apparel and accessories. In 2021, the gross profit margin for tents was 22.94%, apparel and footwear was 34.7%, and accessories and other products was 35.85%.
Regarding the tent business, the gross profit margin showed an initial increase followed by a decline from 2018 to 2021. In 2020, the tent business generated revenue of RMB 536 million with operating costs of RMB 413 million, resulting in a gross profit margin of 23.07%. In 2021, tent business revenue reached RMB 771 million with operating costs of RMB 594 million, yielding a gross profit margin of 22.94%. In 2021, the gross profit margin for Mugaodi's tent business decreased by 0.13 percentage points compared to 2020.
Regarding Mugaodi's sales model, in 2021, direct sales revenue and costs exceeded those of distribution, but the gross profit margin for direct sales was lower than that of distribution. In 2021, Mugaodi's direct sales revenue was RMB 863 million, with a gross profit margin of 4.27%. In 2021, Mugaodi's distribution revenue was RMB 58 million, with a gross profit margin of 34.39%.
What is the market outlook for China's tent industry? The "China Tent Industry In-Depth Research and Investment Strategy Forecast Report" released by Zhiyan Zhan Industry Research Institute provides a detailed analysis of China's tent energy resource potential, tent industry policies, domestic and international tent energy development and utilization technologies, the development of China's tent energy utilization industry, the operations of key enterprises in China's tent energy sector, and the development prospects and investment planning for China's tent energy industry. This report assists enterprises and investors in understanding the market investment value of China's tent energy industry. If you wish to gain a systematic understanding of China's tent energy industry or consider investing in it, this report is an indispensable tool.
