Sporting And Athletic Goods Global Market Report 2023

Sporting and athletic goods refer to technical fabrics that keep the wearer at ease while exercising. The level of activity and exercise will determine the sort of clothing needed, including ball gloves and helmets. They are used to produce sporting and athletic goods, except clothing and footwear.

The main types of sporting and athletic goods are fishing equipment, skating and skiing equipment, golf equipment and other sporting equipment. Fishing equipment refers to any dredge, tool, net, line, instrument, device, gear, harpoon, spear, hook, or hook and line used in the catching of fish for sport and recreation activities. The various materials include plastics, wood, metal, others and is distributed through online stores, speciality stores, convenience/departmental store and others.

The global sporting and athletic goods market grew from $165.28 billion in 2022 to $179.1 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The sporting and athletic goods market is expected to grow to $238.89 billion in 2027 at a CAGR of 7.5%.

The sporting and athletic goods market research report is one of a series of new reports that provides sporting and athletic goods market statistics, including sporting and athletic goods industry global market size, regional shares, competitors with a sporting and athletic goods market share, detailed sporting and athletic goods market segments, market trends and opportunities, and any further data you may need to thrive in the sporting and athletic goods industry. This sporting and athletic goods market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The outbreak of Corona virus disease (COVID-19) has acted as a massive restraint on the sporting and athletic goods manufacturing market in 2022 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of 'lock down' and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the sporting and athletic goods manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Additive manufacturing is growing as an important trend as the sports goods industry has become competitive. Additive manufacturing involves building three-dimensional objects using digital models and successively adding multiple layers of material. The sports goods industry has fast-changing customer demands and requirements for product performance. Additive manufacturing enables the manufacturer to fulfill those demands by providing an efficient approach to rapid prototyping. Therefore, a manufacturer can produce a specific design depending on the individual’s prototype. For example, Asics Corporation, a Japanese company specializing in the production of sportswear and athletic equipment, will launch ACTIBREEZE in July 2022. ACTIBREEZE is a ground-breaking geometric structure, made possible by a parametric design method and cutting-edge 3D printing technology, featured in an inventive 3D printed sandal that is specifically made to support the body and mind of a recovering athlete. This structure provides the wearer with outstanding comfort and protection.

Asia-Pacific was the largest region in the sporting and athletic goods market in 2022. Western Europe was the second largest region in the sporting and athletic goods market. The regions covered in the sporting and athletic goods market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the sporting and athletic goods market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.

The sporting and athletic goods manufacturing market is expected to benefit from steady economic growth forecasted for many developed and developing countries. The International Monetary Fund (IMF) stated that the global GDP growth was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, foreign direct investments in the end-user markets, thereby driving the market during forecast period.

The sporting and athletic goods market consists of sales of ropes and cords, sails, skates, skis, sleds, and sleeping bags, retail, and rubber material. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Major companies in the sporting and athletic goods market include Decathlon S.A, Amer Sports Corporation, Callaway Golf Company, Nike, Inc., Adidas AG, Puma SE, Globeride, Inc., Newell Brands Inc., YONEX Co., Ltd., and Mizuno Corporation.



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