The sports equipment and apparel market size was valued at $ 3,40,572 million in 2020 and is estimated to reach $ 9,30,536 million by 2031, registering a CAGR of 8.3% from 2022 to 2031.
Rise in expenditure on sports training and development among children, owing to increase in consciousness about the benefits of engaging in sports activity such as increased concentration and problem-solving ability has fueled the demand for sports equipment and apparel. Moreover, changing paradigm of educational system supports the growth of sport industry and industries related to it. In addition, rise in sports education and sports training in academics has significantly increased the awareness towards sports and fitness. Thus, many of the school/educational institutes are providing training to the students, providing them with the opportunity to compete in various sports competitions. Furthermore, upsurge in state, national, and international level competitions conducted by various governments across the world is leading to increased participation and developing interest of the youth in sports activities. This in turn has resulted in increased demand for sports equipment and apparel, which significantly contributes to the overall growth of the market.
Initiatives taken by various governments to promote sports, health, and fitness have led to increased consciousness about sports and sports-related products. For instance, Sports for All is an initiative by government of the U.S. for providing sports knowledge to citizens, which has drastically increased involvement of consumers in sports activity. In addition, in the U.S., President's Council on Fitness, Sports & Nutrition has rolled out programs and initiatives to motivate people of all ages, backgrounds, and abilities to lead an active and healthy life. Likewise, governments' investment on players and athletes is a major factor, which propels the growth of sports industry and corresponding growth of sports and equipment industry.
The Australian Government, with support of the Australian Sports Commission (ASC), invested $340 million on Australian Olympians to provide the required support for Rio Olympics. These various initiatives and increase in investments by various governments are leading to increased participation in sports activities by young people, which in turn boost the demand for sports equipment and apparel.
Various big brands are entering the untapped market where lack of availability of sports facilities and products is witnessed. These key players are setting up sports facilities, sports centers, and play grounds, and correspondingly promoting their products. Likewise, various organizations and NGOs are donating the sports equipment and apparel, building sports facilities, conducting free of cost sports competitions, and training the potential athletes free of cost. Moreover, developing interest of the young population in sports is anticipated to offer potential opportunities to the market in the near future. These factors altogether significantly contribute towards the growth of the market in untapped regions.
The global sports equipment and apparel market is segmented on the basis of product type, sports type, distribution channel, and geography. Based on product type, the market is categorized into equipment and apparel & shoes. By sports type, it is classified into bike, outdoor, tennis, other racket sports, running, fitness, football/soccer, other team sports, winter sports, watersports, and others. In terms of distribution channel, it is divided into online and offline. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and ROW.
On the basis of region, Asia-Pacific is expected to reach $2,94,049 million by 2031. Asia-Pacific is the fastest growing and the largest regional markets in the world. This is attributed to stable economic condition coupled with increase in disposable income. Moreover, consumer’s preference for healthy lifestyle and consistent rise in adventure tourism and outings boost the growth of the market in the region.
Major players in sports equipment and apparel market include Adidas AG, Asics Corporation, Decathlon S.A., Fila Holdings Corp., New Balance, Nike Inc., Puma Se, The Gap, Inc., Under Armour, Inc, and VF Corporation.
The report provides detailed qualitative and quantitative analysis of current trends and future estimations that assists to evaluate the prevailing market opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth
Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
The report provides information regarding drivers, restraints, and opportunities with impact analysis.
A quantitative analysis of the current market and estimation for the same from 2021 to 2031 is provided to showcase the financial competency of the market.
Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
Rise in expenditure on sports training and development among children, owing to increase in consciousness about the benefits of engaging in sports activity such as increased concentration and problem-solving ability has fueled the demand for sports equipment and apparel. Moreover, changing paradigm of educational system supports the growth of sport industry and industries related to it. In addition, rise in sports education and sports training in academics has significantly increased the awareness towards sports and fitness. Thus, many of the school/educational institutes are providing training to the students, providing them with the opportunity to compete in various sports competitions. Furthermore, upsurge in state, national, and international level competitions conducted by various governments across the world is leading to increased participation and developing interest of the youth in sports activities. This in turn has resulted in increased demand for sports equipment and apparel, which significantly contributes to the overall growth of the market.
Initiatives taken by various governments to promote sports, health, and fitness have led to increased consciousness about sports and sports-related products. For instance, Sports for All is an initiative by government of the U.S. for providing sports knowledge to citizens, which has drastically increased involvement of consumers in sports activity. In addition, in the U.S., President's Council on Fitness, Sports & Nutrition has rolled out programs and initiatives to motivate people of all ages, backgrounds, and abilities to lead an active and healthy life. Likewise, governments' investment on players and athletes is a major factor, which propels the growth of sports industry and corresponding growth of sports and equipment industry.
The Australian Government, with support of the Australian Sports Commission (ASC), invested $340 million on Australian Olympians to provide the required support for Rio Olympics. These various initiatives and increase in investments by various governments are leading to increased participation in sports activities by young people, which in turn boost the demand for sports equipment and apparel.
Various big brands are entering the untapped market where lack of availability of sports facilities and products is witnessed. These key players are setting up sports facilities, sports centers, and play grounds, and correspondingly promoting their products. Likewise, various organizations and NGOs are donating the sports equipment and apparel, building sports facilities, conducting free of cost sports competitions, and training the potential athletes free of cost. Moreover, developing interest of the young population in sports is anticipated to offer potential opportunities to the market in the near future. These factors altogether significantly contribute towards the growth of the market in untapped regions.
The global sports equipment and apparel market is segmented on the basis of product type, sports type, distribution channel, and geography. Based on product type, the market is categorized into equipment and apparel & shoes. By sports type, it is classified into bike, outdoor, tennis, other racket sports, running, fitness, football/soccer, other team sports, winter sports, watersports, and others. In terms of distribution channel, it is divided into online and offline. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and ROW.
On the basis of region, Asia-Pacific is expected to reach $2,94,049 million by 2031. Asia-Pacific is the fastest growing and the largest regional markets in the world. This is attributed to stable economic condition coupled with increase in disposable income. Moreover, consumer’s preference for healthy lifestyle and consistent rise in adventure tourism and outings boost the growth of the market in the region.
Major players in sports equipment and apparel market include Adidas AG, Asics Corporation, Decathlon S.A., Fila Holdings Corp., New Balance, Nike Inc., Puma Se, The Gap, Inc., Under Armour, Inc, and VF Corporation.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current & emerging market trends and opportunities in the global sports equipment and apparel market.The report provides detailed qualitative and quantitative analysis of current trends and future estimations that assists to evaluate the prevailing market opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth
Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
The report provides information regarding drivers, restraints, and opportunities with impact analysis.
A quantitative analysis of the current market and estimation for the same from 2021 to 2031 is provided to showcase the financial competency of the market.
Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
Key Market Segments
By Distribution Channel
- Online
- Offline
By Product Type
- Equipment
- Apparel and Shoes
By Sports Type
- Bike
- Outdoor
- Tennis
- Other Racket Sports
- Running
- Fitness
- Football/Soccer
- Other Team Sports
- Winter Sports
- Watersports
- Other
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- Poland
- France
- U.K.
- Austria
- Italy
- Switzerland
- Sweden
- Spain
- Russia
- Norway
- Denmark
- Czech Republic
- Hungary
- Finland
- Ireland
- Belgium
- The Netherlands
- Luxembourg
- Portugal
- Rest of Europe
- Asia-Pacific
- China
- Australia
- Japan
- Malaysia
- Thailand
- Singapore
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East And Africa
Key Market Players
- ADIDAS AG (ADIDAS)
- AMER SPORTS CORPORATIONASICS CORPORATION
- DECATHLON S.A.
- GAP INC.
- NEW BALANCE
- NIKE, INC. (NIKE)
- PUMA SE
- UNDER ARMOUR, INC
- VF CORPORATION (VFC)
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SPORTS EQUIPMENT AND APPAREL MARKET, BY PRODUCT TYPE
CHAPTER 5: SPORTS EQUIPMENT AND APPAREL MARKET, BY SPORTS TYPE
CHAPTER 6: SPORTS EQUIPMENT AND APPAREL MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: SPORTS EQUIPMENT AND APPAREL MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Sports Equipment and Apparel Market," the sports equipment and apparel market was valued at $340.6 billion in 2020, and is estimated to reach $930.5 billion by 2031, growing at a CAGR of 8.3% from 2022 to 2031.Sports equipment are utility devices or tools useful for engaging in sports activity. Similarly, sports apparel is useful for boosting the sports performance with required comfort. Increase in fitness consciousness among consumers and rapid rise in per capita disposable income are expected to boost demand for sports equipment and apparels. In addition, trend of sports apparel among young sports enthusiasts and advancements in formulation of sports equipment fuel the market growth. However, decline in participation of the young generation in sports activity hampers the market growth.
Moreover, increase in interest of consumers in leisure activities other than sports such as movies, musical concerts, virtual gaming, and others restrains the growth of the market. Conversely, increase in participation of various organizations in donation of these equipment and apparel to emerging sport enthusiasts and athletes with poor financial background is anticipated to provide lucrative sports equipment and apparel market opportunities. For instance, Sports Gift, Let’s Play It Forward, Global Sports Foundation, and One World Play Project are some of the well-known organizations that support the sports equipment donation process. Thus, rise in distribution of sports equipment and apparel through online retail platform is anticipated to boost the sports equipment and apparel market growth in near future.
The market for sports equipment and apparel is quickly approaching the pre-COVID stages, due to the economic recovery in most emerging economies, and a stable growth rate is envisaged throughout the forecast period. The resumption of sport activities, and ease in international sport travel restrictions are key factor behind recovery of the sports equipment and apparel market. These factors are projected to boost the growth of sports equipment and apparel industry after the COVID-19 prediction period.
The global sports equipment and apparel market is segmented on the basis of product type, sports type, distribution channel, and geography. Based on product, the market is categorized into equipment and apparel & shoes. By sports type, it is classified into bike, outdoor, tennis, other racket sports, running, fitness, football/soccer, other team sports, winter sports, watersports, and others. In terms of distribution channel, it is divided into online and offline. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and ROW.
By product type, equipment segment holds highest share of 52.8% in 2019, and it expected to maintain its dominance over the forecast period. Consumers are progressively spending more on sportswear and its associated equipment with a large share of the expense constituting of athleisure clothing and accessories. The equipment segment remains highly competitive, owing to presence of many established market players. The market for equipment is thriving immensely on e-commerce, which is a popular retail medium nowadays that also offers consumers the benefit to compare all the available brands of sports equipment.
On the basis of sport type, fitness equipment and apparel segment was valued at $ 64,574 million in 2019, and is expected to reach $ 1,23,968 million by 2031 at a CAGR of 7.8%. Healthy living is the current trend and this trend is expected to remain relevant for a long time to come. People today have become very knowledgeable about health and fitness and have started to invest in different activities such as yoga, gyms, and many other forms of training to stay fit. As a result, market growth is likely to be fueled by such sports equipment and apparel market trends.
On the basis of distribution channel, online segment is expected to register highest CAGR of 8.6% over the forecast period. Online channel is one of the fast-emerging sales channels in the sports equipment and apparel industry. Consumers prefer online platforms due to their ease of accessibility and convenience. This platform offers a number of discounts on online purchase to attract more customers.
Emergence of advanced technology fosters the growth of online channel business worldwide. Moreover, online sales have significantly contributed to revenue of the companies operating in the market. The key players in the market are increasingly collaborating with online channel sites to improve their market presence.
On the basis of region, Asia-Pacific is expected to reach $2,94,049 million by 2031. Asia-Pacific is the fastest growing and the largest regional markets in the world. This is attributed to stable economic condition coupled with increase in disposable income. Moreover, consumer’s preference for healthy lifestyle and consistent rise in adventure tourism and outings contributes to the sports equipment and apparel market size of the region.
Major players in sports equipment and apparel market include Adidas AG, Asics Corporation, Decathlon S.A., Fila Holdings Corp., New Balance, Nike Inc., Puma Se, The Gap, Inc., Under Armour, Inc, and VF Corporation.
Key Findings of the Study
- The sports equipment and apparel market size was valued at $ 3,40,572 million in 2020, and is estimated to reach $ 9,30,536 million by 2031, registering a CAGR of 8.3% from 2022 to 2031.
- Based on product type of sports equipment and apparel market analysis, the apparel and shoes segment was valued at $ 1,61,360 million in 2020, and is estimated to reach $ 4,39,388 million by 2031, registering a CAGR of 8.3% from 2022 to 2031.
- In 2020, basec on sports type, the other team sports segment was valued at $ 61,508 million, accounting for 18.1% of the global sports equipment and apparel market share.
- In 2021, the U.S. was the most prominent market in North America, and is projected to reach $ 2,23,304 million by 2031, growing at a CAGR of 7.7% during the sports equipment and apparel market forecast.
Companies Mentioned
- Adidas AG (Adidas)
- Amer Sports Corporationasics Corporation
- Decathlon S.A.
- Gap Inc.
- New Balance
- Nike, Inc. (Nike)
- Puma Se
- Under Armour, Inc
- Vf Corporation (Vfc)
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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