HMA estimates U.S. hobby industry at more than $1.4 billion
April 26, 2011
|The Hobby Manufacturers Association (HMA) released the results of a study by the University of Louisville School of Business conducted in 2009 that estimates the size of the U.S. hobby industry in 2010 at $1.47 billion and shows actual sales for 2009 was more than $1.3 billion.|
The study divides the hobby market into four categories: model railroad ($424 million), plastics and die-cast ($305 million), radio control ($357 million), and general hobby ($247 million). According to an HMA press release, with the average markup in each category at between 40% and 50% over wholesale, the study estimates that overall revenue at the retail level is approximately $2.5 to $3 billion.
The study was conducted online via Survey Monkey and was received by HMA member companies. The participation rate was 39% of companies surveyed.