Ammo Pricing Trends in 2024: A Year In Review

The year 2024 saw dynamic shifts in the ammunition market, with significant trends and fluctuations across all calibers. We will be delving into these overarching market trends to provide a detailed breakdown of price movements for the market in general as well as for the individual calibers, offering insight into the factors driving these changes.

Ammo Pricing Trends in 2024
2024 was quite an eventful year in the ammo and firearms space. Industry has had many different events that affected everything from production, to demand and ultimately prices. We are going to dive into all of the trends, events and causes, and do a complete breakdown of market events that have occurred throughout the year.

Black Basin Outdoors Ammo Price Index on a timeline with most important events of the 2024.
Source: Black Basin Outdoors

Supply Chain Stabilization

Remember the frustrating days of empty shelves and sky-high prices? Early 2024 still carried some of the echoes of those challenges, but things finally started looking up and kept stabilizing throughout the year.

Manufacturers got their groove back as raw materials became more readily available and shipping bottlenecks cleared. By summer, many shooters noticed fuller shelves at their local stores and online retailers.

Consumer Behavior: A Tale of Two Halves

The first half of 2024 saw intense buying activity driven by several factors. International conflicts had many people concerned about future availability, while hunters stocked up earlier than usual after experiencing shortages in previous seasons. As election season approached, many consumers accelerated their purchases, creating temporary shortages in popular calibers.

However, the second half brought an interesting shift. As inventories improved and initial panic buying subsided, prices began to stabilize. This created a "sweet spot" for buyers who had waited out the early-year rush.

Manufacturing Sector Response

America's ammunition manufacturers proved remarkably adaptable throughout 2024. They increased production capacity while managing rising costs of raw materials like brass, lead, and gunpowder. 

Unfortunately being adaptable comes with a cost for consumers, which led to multiple price increases starting with a quite unexpected  price increase in April 2024 of 9mm Ammo, followed few months later by a mid-year price increase by the Kinetic Group brands, and finally the latest increase of Winchester ammo starting January 1, 2025, along with the recently exclusively announced increase of PMC Ammo brands.  

All these increases have affected a variety of the most popular calibers. All these combined with major events this year such as  ammo demand surge after Trump Assassination attempt and Trump Election Victory have led to a lot of new trends and fluctuations that weren't easily predictable.

How 2024 Ammo Prices trends affect you as a consumer?

Looking at ammunition prices throughout 2024 through  our ammo price index, here's what shooters should understand: The year started with some wild price swings in the first few months, with prices bouncing up and down like a rubber ball. If you were trying to buy ammo during this time, you probably noticed how prices could change dramatically from week to week. The good news is that things settled down significantly as the year went on.

By mid-year, prices found their sweet spot and have mostly stayed there. Our Ammo Price Index (which runs from 1 to 100, where 50 is "normal" pricing) has been hanging around the low-to-mid 40s for most of the second half of the year. In plain English, this means prices are running a bit lower than what we'd consider average – good news for anyone looking to stock up. No more of those crazy high prices we saw in recent years!

What does this mean for you? Right now is actually a pretty decent time to buy ammunition. The current index score of around 43 tells us that prices are moderately low compared to recent history. While we're not seeing rock-bottom clearance prices, you're generally getting a fair deal in today's market. The best part is that prices have been stable lately, so you don't need to rush your purchases out of fear that prices will suddenly spike tomorrow.

2024 Caliber-by-Caliber Analysis

Lets dive into 2024 pricing trends for each of the most popular calibers. The 2024 has been quite eventful for the most frequently bought calibers. There have been many different events that have affected the calibers individually next to the global market events.

9mm Luger: The Popular Kid

The 9mm market reflected broader economic trends while maintaining its position as America's most popular centerfire handgun round. Early 2024 prices hovered around 35-40 cents per round for practice ammunition, with premium defensive loads commanding significantly higher prices. Mid-year brought welcome relief as prices dipped to around 30 cents per round before climbing again during the pre-election rush.

9mm Ammo Prices chart for 2024.
Source: Black Basin Outdoors

.223 Remington/5.56 NATO: Steady as She Goes

AR-platform shooters saw relatively stable pricing throughout 2024, thanks to manufacturers prioritizing production of this popular round. While prices fluctuated between 45-55 cents per round for standard practice ammunition, the market avoided the dramatic spikes seen in previous years. Bulk buyers who watched for sales often found deals in the low 40-cent range.

. 223 Remington / 5.56 Nato Ammo Prices chart for 2024.
Source: Black Basin Outdoors

.308 Winchester: The Long-Range Performer

This versatile cartridge experienced notable price swings throughout 2024. Early-year prices near 70 cents per round gave way to mid-year deals around 55 cents as supply chains improved. The growing popularity of long-range shooting sports kept demand strong, but improved production capacity helped prevent severe shortages.

.308 Winchester Ammo Prices chart for 2024.
Source: Black Basin Outdoors

.22 LR: The Budget-Friendly Option

Rimfire shooters had reason to smile in 2024. While not quite back to pre-pandemic prices, .22 LR remained relatively affordable. Bulk packs often sold for 7-8 cents per round, with premium match-grade ammunition naturally commanding higher prices. The traditional holiday sales season brought some particularly good deals for patient buyers.

.22 LR Ammo Prices chart for 2024.
Source: Black Basin Outdoors

12 Gauge: The Seasonal Swinger

Shotgun ammunition prices followed predictable seasonal patterns, with demand and prices peaking during spring turkey season and again during fall bird hunting. Basic target loads remained relatively affordable, while specialty hunting loads saw more significant price fluctuations based on seasonal demand.

12 Gauge Ammo Prices chart for 2024.
Source: Black Basin Outdoors

December 2024: Ammo Prices Trends

December 2024 showed some interesting shifts in ammunition prices across various calibers. Here's what happened in the market:

The most notable price movements were seen in specialty rounds. The . 44 Special ended at $0.56 per round which is quite high considering that it started December with $0.43, while the 8mm Mauser settled at $0.97 with an increase from the month-start price of around 70 cents. For budget-conscious shooters, .22 LR remained one of the most economical options at $0.04 per round, despite seeing a small price increase.

Several calibers saw significant price drops during December. The  .32 S&W decreased to $0.52 per round from $0.48, while .24 Gauge shells dropped to $0.35 per round from the month-entry price of $0.84 per round. The .243 Winchester finished the month at $0.62 per round, making it a more attractive option for hunters and target shooters as price dropped from $0.75. 

Overall, December showed mixed trends across different calibers. Rimfire ammunition like  .22 Short ($0.07) and .22 LR ($0.04) remained the most affordable options for practice and plinking, despite slight increases. For those who were looking at defensive ammunition, prices varied significantly by caliber, with some seeing increases while others became more affordable.

Ammo Price Decreases - December 2024

Ammo Price Increases - December 2024

Ammo Demand in December

Another interesting peak season trend has been confirmed throughout the December when it comes to ammo demands, and shopping craze that has been going on throughout December. If we take a look at the Google Trends Buy Ammo term, mid December has been peak when it comes to ammo demand. 

This further backs the claims of great ammo deals that have been happening this December, also in anticipation of the aforementioned January 1st price increases.

Ammo Demands based on the "buy ammo" search term in December 2024.
Source:  Google Trends

Looking Ahead Into 2025

As 2024 draws to a close, the ammunition market appears healthier than it has in several years. Supply chains have largely recovered, though manufacturers' announced price increases for 2025 suggest continued challenges with raw material costs. Savvy shooters are learning to watch for deals and buy during off-peak seasons when possible.

The key lesson from 2024 is that while the days of extreme shortages may be behind us, the ammunition market remains sensitive to external factors like political events, international conflicts, and raw material costs. Successful buyers are those who stay informed about market trends and plan their purchases accordingly.

If you have had the opportunity to read a recent letter by our CEO Nathaniel Boos, than you know that Black Basin Outdoors stays committed to offer the best ammo shopping experiences and keep working with manufacturers to get you the best possible prices on variety of ammo calibers.

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Our team at Black Basin Outdoors wishes you a Happy New Year and safe shooting waters ahead!