What Fueled Sporting And Athletic Goods Market?
The sporting and athletic goods market has seen considerable growth due to a variety of factors.
• In the past years, the market for athletic and sporting goods has shown a robust growth. It is projected to expand from $136.47 billion in 2024 to $145.48 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.6%.
The historic period's upsurge can be traced back to the global sporting events, the boom in fitness and wellness, the increase in marketing and endorsements, the rise of urbanization and recreational spaces, as well as heightened awareness about health and fitness.
What Will Be The Sporting And Athletic Goods Market Size In The Future?
The sporting and athletic goods market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the market for sporting and athletic goods is predicted to experience robust growth, reaching a value of $182.57 billion in 2029 with a compound annual growth rate (CAGR) of 5.8%.
Factors contributing to this projected growth include increased sustainability efforts, the blending of health and wellness, customization and personalization, expansion of the athleisure market, participation in youth sports and the impact of social media. The forecast period will see key trends such as the integration of smart sportswear, the use of augmented reality (AR) in sports training, subscription services for sports equipment, sportswear designs catering to women, and breakthroughs in footwear technology.
What Are The Primary Growth Drivers In The Sporting And Athletic Goods Market?
The manufacturing market for sporting and athletic goods is likely to see advantages from ongoing economic growth anticipated in various developed and developing nations. The global GDP growth was 3.3% in 2020 and 3.4% in 2021, as reported by the International Monetary Fund (IMF). The rebound of commodity prices after a drop in the previous period is anticipated to play a key role in stimulating economic growth. The US economy is predicted to experience steady growth within the forecast period. Plus, emerging markets are anticipated to have a slightly quicker growth rate compared to developed markets within the same period. Increased economic growth is poised to stimulate public and private investments, joint ventures, and foreign direct investments in the end-user markets, hence propelling the market during the forecast period.
What are the Market Segments in the Sporting And Athletic Goods Market?
The sporting and athletic goods market covered in this report is segmented –
1) By Type: Fishing Equipment, Skating And Skiing Equipment, Golf Equipment, Other Sporting Equipment
2) By Material: Plastics, Wood, Metal, Other Materials
3) By Distribution Channel: Online Stores, Specialty Stores, Convenience Or Departmental Store, Other Distribution Channels
Subsegments:
1) By Fishing Equipment: Fishing Rods, Fishing Reels, Tackle and Bait, Fishing Lines, Fishing Accessories
2) By Skating And Skiing Equipment: Ice Skates, Roller Skates, Skateboards, Ski Equipment (Skis, Boots, Poles), Snowboarding Gear
3) By Golf Equipment: Golf Clubs, Golf Balls, Golf Bags, Golf Apparel, Golf Accessories
4) By Other Sporting Equipment: Team Sports Equipment, Fitness Equipment, Outdoor Sports Gear, Individual Sports Equipment
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What Trends are Shaping the Sporting And Athletic Goods Market?
The increasing competitiveness within the sports goods industry is catalyzing a rise in the importance of additive manufacturing. In this process, 3D items are built using digital models and the addition of multiple material layers. Given the rapid evolution of consumer needs and performance expectations for sports goods, additive manufacturing has emerged as an efficient tool for expeditious prototyping. As a result, manufacturers are able to create specific designs based on individual prototypes. For instance, in July 2022, Asics Corporation, an established Japanese sportswear and sports equipment producer, introduced ACTIBREEZE. The revolutionary geometric structure of ACTIBREEZE, which is achieved through a parametric design method and advanced 3D printing technology, is embedded in an innovative 3D printed sandal, specifically crafted to aid athletes in recovery. It offers exceptional comfort and protection to its users.
Who Are the Key Players in the Sporting And Athletic Goods Market?
Major companies operating in the sporting and athletic goods market include:
• Nike Inc.
• Adidas AG
• Decathlon S.A.
• Russell Athletic LLC
• Anta Sports Products Limited
• Skechers USA Inc.
• Under Armour Inc.
• New Balance Athletics Inc.
• Callaway Golf Company
• Li-Ning Company Limited
• ASICS Corporation
• Columbia Sportswear Company
• Fila Holdings Korea Ltd.
• Amer Sports Corporation
• Mizuno Corporation
• The North Face Inc.
• Patagonia Inc.
• YONEX Co. Ltd.
• Skis Rossignol S.A.
• K-Swiss Inc.
• Derby Cycle Corporation
What are the Regional Insights into the Sporting And Athletic Goods Market?
Asia-Pacific was the largest region in the sporting and athletic goods market in 2024. Western Europe was the second largest region in the sporting and athletic goods market. The regions covered in the sporting and athletic goods market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
