U.S. model hobby industry estimates show slight growth in revenues over 2011
The U.S. model hobby industry, like the economy, is making a slow but meaningful recovery, according to a recent survey of manufacturers and distributors. The Hobby Manufacturers Association announced today that the industry’s projected sales grew 3 percent in 2012 at $1.31 billion compared to actual sales in 2011 of $1.265 billion. However, revenues reported in HMA’s third U.S. Model Hobby Industry Study lagged the $1.47 billion in 2010 and $1.379 billion in 2009. “The 2011 actual sales of model hobby products show a 9 percent decrease from the 2009 actual sales reported by survey respondents,” HMA President Fred Hill said in a statement. “This decrease in sales was due in large part to the industry’s later recovery from the economic recession that impacted other industries in 2008 and 2009. Our industry also saw more mergers and consolidations among member manufacturers and an increase in more web-based sellers of hobby…