Sports equipment are devices used for engaging in sport activity, protecting the athletes from injuries. These devices assist in following the rules and regulations of a particular sport. On the other hand, sports apparel is a performance clothing, which helps athletes to optimize their performance in sports activities by providing the required comfort during the activities. According to the report, the global sports equipment and apparel market was valued at $410.61 billion in 2017 and is likely to accrue a sum of $619.27 billion by 2023, growing at a CAGR of 7.1% from 2017 to 2023.
The report provides an in-depth analysis of the global sports equipment and apparel market, covering aspects such as market share and estimations, market classification, drivers and restraints, trends, and company profiles. The information provided in the report is a result of an extensive primary and secondary research activities. The study serves as a useful tool for market players, investors, and other individuals interested in the market.
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A detailed analysis of the market drivers, restraints, and opportunities of the industry is offered in the study. Factors such as increase in awareness of sports and fitness across the world and government initiatives towards sports activities and events are driving the market. However, rising terrorism and political influence on sports events as well as increasing proclivity of kids in indoor leisure activities are likely to hinder the market growth. On the other hand, increase in contribution by various organizations towards donation of sports equipment and apparel to emerging sports enthusiasts and athletes from poor financial background and rapid growth of online retail platform are likely to provide opportunities for the growth of the market.
The report segments the market report based on product, sports, distribution channel, and geography. By product, the market is divided into equipment and apparel & shoes. The equipment segment would dominate the market both in terms of revenue as well as growth during the forecast period. The sports segment is divided into bike, outdoor, tennis, other racket sports, running, fitness, football/soccer, other team sports, winter sports, watersports, and others. The outdoor segment would grow at the fastest CAGR of 9.8% during the forecast period. By distribution channel, the market is classified into online and offline. The offline segment captured the largest share of 88% in 2017 and would maintain its dominance through 2023. Regionally, the market analysis covers North America, Europe, Asia-Pacific, and LAMEA.
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A detailed analysis of the players operating in the sports equipment and apparel market is also offered in the report. Aspects such as company overview, operating business segments, product portfolio, and key strategic moves and developments are discussed. The companies analyzed are Decathlon S.A., Nike, Inc., Adidas AG, Puma SE, Under Armour Inc., Amer Sports Corporation, ASICS Corporation, Sports Direct International Plc., V.F. Corporation New Balance, Inc.
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This post was originally published on Trading Herald