The global sports equipment market size is expected
to reach USD 89.22 billion by 2025, according to a new report by Grand View
Research, Inc., registering a CAGR of 3.5% over the forecast period. The
industry is witnessing a considerable growth across the globe owing to
increasing adoption of sports and recreational activities by people for stress
management and growing health awareness. Widespread media coverage of several
global sports events, such as FIFA World Cup, Commonwealth Games, and Olympic
Games, amplifies the popularity and expands the global reach of sports, thereby
encouraging youth to take part in sports.
In recent times, government institutions
are making recreational activities an obligatory inclusion in curriculum of
schools and colleges. Besides this, they are taking initiatives to popularize
adoption of sports activities in their countries and motivate young athletes.
These initiatives include allocating substantial funds for the development of
sports infrastructure, apart from organizing several sports events.
Additionally, an increase in people’s
participation has been noted in various sports such as golf, basketball, and
football, owing to enhanced standards of living and a greater willingness to
spend on leisure activities. Emerging economies such as India, China, and
Brazil are observing improvements in living standards, which is projected to
boost the sports equipment market growth.
However, in recent times, a proliferation
of counterfeit products, in addition to rising product prices, is estimated to
negatively impact the market over the forecast period. Nevertheless,
enhancement and innovation of products, thanks to usage of better quality raw
materials, are poised to offer new opportunities to the market.
Browse
Research Report on Sports Equipment Market:
Further key findings from the report suggest:
·
The sports equipment market is anticipated
to post a CAGR exceeding 3.0% during the forecast period, on account of
increasing occurrence of chronic diseases and obesity. With people across the
world growing more inclined to adopt healthier lifestyles, maintain a healthy
body, and lose weight, sports is growing in popularity as a means to achieve
the aforementioned objectives
·
On the basis of product type, the balls
game segment is expected to dominate the market throughout the forecast period.
Burgeoning popularity of ball games such as football and basketball is
projected to spur the growth of the segment
·
Rising disposable income, convenience of
shopping, and ease of internet connectivity are supporting development of the
e-commerce and m-commerce industries. These factors render the process of
purchasing sports equipment online more convenient for end users
·
Increasing tendency/predisposition of
consumers to adopt healthier lifestyles, resulting in requirement of purchasing
sports equipment and other related goods, is one of the key factors propelling
the market in APAC
·
The market is noting intense competition
owing to presence of numerous players including Nike, Inc.; Puma SE; Adidas AG;
Billabong International Limited; Callaway Golf Co.; Jarden Corporation; Sports
Direct International; Taishan Sports. Low entry and exit barriers in this
market further contribute to increase in competition
·
Companies are focusing on expanding their
market presence through mergers and acquisitions and are also increasingly
investing in research and development activities for improving their products
for enhanced durability and comfort.
View more reports of this
category by Grand View Research at
Grand View Research has segmented the
global sports equipment market on the basis of product, distribution channel,
and region:
Sports Equipment Product Outlook (Revenue, USD Billion, 2014 - 2025)
·
Ball over net games
·
Ball games
·
Fitness/Strength equipment
·
Athletic training equipment
·
Others
Sports Equipment Distribution Channel Outlook (Revenue, USD Billion,
2014 - 2025)
·
Online retail
·
Specialty & sports shops
·
Department & discount stores
Sports Equipment Regional Outlook (Revenue, USD Billion, 2014 - 2025)
·
North America
o U.S.
o Canada
·
Europe
o U.K.
o Germany
o France
·
Asia Pacific
o China
o India
o Japan
o Australia
o New Zealand
·
Latin America
o Brazil
o Mexico
·
Middle East & Africa
View press release of this
research report by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials, and healthcare.
