5 Stocks To Buy From Promising Leisure & Recreation Products Space

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The Zacks Leisure and Recreation Products industry is benefiting from robust demand for recreational products and golf business. The companies, which design, market, retail, and distribute products for the outdoor and recreation market are witnessing robust demand. Moreover, golf manufactures and boating suppliers are gaining from the ongoing coronavirus pandemic. Further, rise in fitness products sales due to increase in awareness about health and fitness among people is favoring the industry.

Stocks including Acushnet Holdings Corp. (GOLF - Free Report), Callaway Golf Company (ELY - Free Report), Malibu Boats, Inc. (MBUU - Free Report), OneWater Marine Inc. (ONEW - Free Report), and Vista Outdoor Inc. (VSTO - Free Report) are likely to gain from the abovementioned industry trends.

Industry Description

The Zacks Leisure and Recreation Products industry comprises companies that provide amusement and recreational products, including swimming pools, golf courses, boats and outdoor spaces. Some of the industry participants also manufacture outdoor equipment and apparels for climbing, mountaineering, backpacking, and skiing.

The industry players primarily thrive on overall economic growth, which fuels consumer demand for products. In fact, demand, which is highly dependent on business cycles, is driven by a healthy labor market, rising wages and growing disposable income.

3 Trends Shaping the Future of Leisure and Recreation Products Industry

Boating Suppliers Witnessing Robust Demand: New boat sales have increased sharply amid the coronavirus pandemic. In fact, boat sales have been going through the roof since April-end last year and some dealers are hard-pressed to supply. Matt Gruhn, president of the Marine Retailers Association of America (MRAA), is of the opinion that people have had time to research boats while they’ve been cooped up at home. Per National Marine Manufacturers Association (NMMA) reports, retail unit sales of new powerboats increased by 12% in 2020, compared with the prior year. More than 310,000 new powerboats were sold in 2020. Moreover, boat sales in the United States touched a 13-year high. The momentum is likely to continue into 2021 as manufacturers continue to fulfill a backlog of orders from 2020.

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