Global Sporting Goods Market

Sporting Goods also called sporting equipment, 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. There are various benefits of sports such as improved cardiovascular health, helps manage weight, improved muscular strength and endurance, reduced blood pressure and lowers the risk of heart disease, stroke, and diabetes.

The sports goods market is majorly propelled by the rising number of sports events such as Olympics, common wealth games, etc. This has increased the participation of consumers in sports activities which will further fuel the demand for sporting goods in the upcoming 5-6 years.  The major driving factor of global sporting goods market are rising consumer awareness for health and fitness, government’s inclination and support for sports activities. The major restraining factor Presence of counterfeit products, High cost of several goods and trademark infringement. Poor quality of goods manufactured by local manufacturers due to absence of government regulations are some factor that are anticipated to hinder market growth of sports goods market.

Global Sporting Goods Market valued approximately USD 63.50 billion in 2018 is anticipated to grow with a healthy growth rate of more than 4.13% over the forecast period 2019-2026 and is estimated to reach USD 87.80 billion by 2026.

The regional analysis of Global Sporting Goods Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is anticipated to hold the largest consumer base of sports goods market, owing to the increasing participation of younger generation in sports activities. North America market is estimated to reach USD 35 billion by the end of 2023 and the market is anticipated to reach market share of 40% to the global market by the end of forecast period. Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2026, due to o the developing sports infrastructure of developing countries coupled with the government initiatives to promote sports activities in the region.
Major market players included in this report are Nike Inc., Reebok, Adidas AG, Puma SE, Amer Sports Corporation, VF Corporation, Asics Corporation, Under Armour Inc., Brooks Sports Inc., The North Face Inc., YONEX Co. Ltd., MIZUNO Corporation, Skechers USA Inc., and Converse Inc.

The detailed segments and sub-segment of the market are explained below:

By Type: Ball Sports, Adventure Sports, Golf, Winter Sports, Other
By Application: Franchise Outlets, Department stores, Specialty Sports, Discount stores, On-line, Others

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