Sports equipment and apparel market was assessed to be $480 billion in 2021 and are supposed to grow at a CAGR of 7.2% to reach $817 billion by 2026.
The sports industry is one of the largest developing industries in the world. Initially, the sport was part of military training to develop physical and mental capacities. Nowadays, more and more people are involved in sports and recreational activities due to health awareness and sports management. Sport as an activity helps consumers reap benefits such as improved physical and mental health, teamwork, responsibility, and a positive self-image. Consumers are gradually spending on sports clothing and equipment alongside leisure clothing and accessories. Following developments in the sports industry, various associations and federations have made the use of sports equipment compulsory according to the needs of the sport. The equipment provides protection against injury during sport.
Growing awareness of general health and fitness is one of the major drivers of market growth. In addition, constant improvements in the materials used to manufacture sports equipment help to improve the performance of the products, thus increasing the rate of adoption.
Recent Developments:
Sports Equipment and Apparel Market Growth and Trends:
The sports equipment industry has witnessed several changes recently because of the rising adoption of emerging technologies and the latest trends among the youth. Introducing innovative products is the way for manufacturers to stay in the competitive market, attract new consumers, and meet the needs of existing consumers. The growing fan base of popular sporting events such as the Olympics, Indian Premier League, FIFA, and others are fueling the demand for sports equipment and apparel, driving the business growth.
Sports Equipment and Apparel Market Drivers and Restraints:
The growth of the global sports equipment and apparel market can be attributed to the increased awareness of sports and fitness around the world. In addition, rising spending on sports training and development in children, due to augmented awareness of the benefits of participating in sports, such as increased focus and problem-solving ability, stimulates demand for sports equipment and clothing. In addition, the paradigm shift in the education system supports the growth of the sports industry and related industries. Also, the increase in sports education and sports training in academics has dramatically increased awareness of sports and fitness. Therefore, many schools/educational institutes provide training for students, giving them the opportunity to participate in various sports competitions. In addition, the surge in competitions at city, national and international levels carried out by various governments around the world leads to greater participation and interest of young people in sports activities. This is mainly promoting the demand for sports equipment and apparel markets across the world.
On the contrary, certain restrictions may affect the demand for sports goods and clothing. This includes a growing consumer inclination towards other leisure pursuits such as watching movies, virtual reality games, and music festivals. In addition, some sports equipment is expensive and inaccessible to most people. To increase the level of protection during sports, some manufacturers may increase the weight of the equipment, which may inconvenience the player.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2021 – 2026 |
|
Base Year |
2021 |
|
Forecast Period |
2021 - 2026 |
|
CAGR |
7.2% |
|
Segments Covered |
According to the product type, According to the type of sport, Based on the distribution channel |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
Adidas AG, Puma SE, Under Armor Inc., Amer Sports Corporation, Nike, Reebok, ASICS Corporation, Gap Inc., and VF Société New Balance, Inc., are a few dominant companies in this industry. |
Sports Equipment and Apparel Market segmentation:
Regional Analysis:
By region, North America was the largest regional market in 2019. However, the Asia-Pacific is expected to grow at a higher CAGR during the envisioned period. This can be attributed to the growth in the adoption of sports and recreational activities in the area.
Key market players:
Players in the sports equipment and apparel industry have embraced product launch, acquisition, and collaboration as a key development strategy to increase their profitability and enhance their position in the sports apparel and equipment market. Adidas AG, Puma SE, Under Armor Inc., Amer Sports Corporation, Nike, Reebok, ASICS Corporation, Gap Inc. and VF Société New Balance, Inc., are a few dominant companies in this industry
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Sports Equipment and Apparel Market, By Product Type
6.1.1 Equipment
6.1.2 Apparel
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Sports Equipment and Apparel Market, By Sport Type
6.2.1 Bike
6.2.2 Outdoor
6.2.3 Tennis
6.2.4 Other Racket Sports
6.2.5 Running
6.2.6 Fitness
6.2.7 Football/Soccer
6.2.8 Other Team Sports
6.2.9 Winter Sports
6.2.10 Water Sports
6.2.11 Market Size Estimations & Forecasts (2021-2026)
6.2.12 Y-o-Y Growth Rate Analysis
6.2.13 Market Attractiveness Index
6.3 Sports Equipment and Apparel Market, By Distribution Channel
6.3.1 Offline
6.3.2 Online
6.3.3 Market Size Estimations & Forecasts (2021-2026)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021- 2026)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Product Type
7.2.3 By Sport Type
7.2.4 By Distribution Channel
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Product Type
7.3.3 By Sport Type
7.3.4 By Distribution Channel
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Product Type
7.4.3 By Sport Type
7.4.4 By Distribution Channel
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Product Type
7.5.3 By Sport Type
7.5.4 By Distribution Channel
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Product Type
7.6.3 By Sport Type
7.6.4 By Distribution Channel
8. Key Player Analysis
8.1 Adidas AG
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Puma SE
8.3 Under Armor Inc
8.4 Nike
8.5 Amer Sports Corporation
8.6 Reebok
8.7 ASICS Corporation
8.8 Gap Inc
8.9 VF Société New Balance, Inc
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
