Sporting equipment also called sporting goods are of various types depending on the sports. The equipment ranges from balls, to nets, and to protective gear like helmets. Sporting goods can be used as protective gear or a tool that athletes need while playing a game. Over the time, sports have changed, so as sporting goods. Protective gear has introduced in the global sports market to prevent various kinds of injuries.
Sporting goods market is anticipated to record noteworthy growth in the next five to six years. This is majorly attributed to an increased number of health-conscious consumers, who are giving importance to play a sport and make it a part of their daily routine.
According to QY Research’s latest report, the global sporting goods market is expected to be valued at US$ 60.09 Bn in 2018 and is forecasted to be valued at US$ 83.03 Bn in 2025, expanding at a CAGR of 4.0%. The study has researched the market size of sporting goods and has presented the global sporting goods sales and revenue by companies, regions, type, and application.
Global Sporting Goods Market: Drivers and Restraints
The factors bolstering the growth of global sporting goods market consist of growing retail industry, increasing disposable income of consumers, government’s inclination and support for sports activities in many countries, and rising consumer awareness for health and fitness. In addition, with increasing awareness of health and fitness along with consumers’ inclination for sports events such as ICC Cricket World Cup, Commonwealth Games, Olympics has increased the sales of various types of sporting goods across the world. However, availability of counterfeit products and unaffordable prices of few sporting goods might restrict the market growth.
Global Sporting Goods Market: Segmental Analysis
Amongst different segments of global sporting goods market such as sports tourism, sports apparel, sports sponsorship, sporting goods and others, sporting goods segment is anticipated to gain significant share in the overall sporting industry. This has led to increasing competition among sporting goods manufacturers ensuring improved distribution channels, prices, quality, and efficient supply chain management, in order to maintain sustainability in the market.
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Global Sporting Goods Market: Regional Analysis
This report focuses on the key data information on sporting goods in key regions like North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa. The report has presented sales, revenue, market share, and growth rate of sporting goods for each region and countries in each region. Among different regions, North America holds the largest revenue share in terms of value and is anticipated to maintain its dominance in the near future. Growth prospects for sporting goods market are favorable in the Asia Pacific region.
Global Sporting Goods Market: Key Players
The report offered by QY Research has investigated and analyzed the sales, revenue, market share, and growth rate of top players and key data from 2013 to 2018. Sporting goods manufacturers are performing extensive research and development related to the usage of raw material such as the use of carbon fiber for manufacturing sporting goods, as it offers advantages such as light-weight, high-strength and better performance of the product. Some of the key players in the global sporting goods market are Converse Inc., Nike Inc. Skechers USA, Inc., Reebok, MIZUNO Corporation, Adidas AG, YONEX Co. Ltd., Puma SE, The North Face, Inc., Brooks Sports Inc., Amer Sports Corporation, Under Armour Inc., VF Corporation, and Asics Corporation.
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