Sporting And Athletic Goods Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Sporting And Athletic Goods Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The sporting and athletic goods market has grown substantially, increasing from $182.73 billion in 2023 to $198.08 billion in 2024, with a CAGR of 8.4%. This expansion is driven by global sporting events, the fitness and wellness boom, increased marketing and endorsements, urbanization, and a rising awareness of health and fitness.
What Are the Forecasts in the Global Sporting And Athletic Goods Market Size for Market Growth and Annual Expansion?
The sporting and athletic goods market size is anticipated to see robust growth, expected to reach $269.08 billion in 2028 at a CAGR of 8.0%. This expansion is attributed to the increasing emphasis on sustainability practices, integration of health and wellness, customization and personalization trends, growth in the athleisure market, rising youth sports participation, and the influence of social media. Notable trends in this period include the integration of smart sportswear, augmented reality (AR) in sports training, subscription models for sports equipment, designs focused on female athletes, and innovations in footwear technology.
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What Are The Key Growth Drivers In The Sporting And Athletic Goods Market?
The sporting and athletic goods manufacturing market is poised to benefit from the steady economic growth anticipated in many developed and developing nations. The International Monetary Fund (IMF) reported a global GDP growth of 3.3% in 2020 and 3.4% in 2021, with recovering commodity prices post-decline expected to significantly contribute to economic expansion.
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Who are the Key Industry Players Stepping Up in the Sporting And Athletic Goods Market?
Major companies operating in the market report are Christian Dior SE, The Procter & Gamble Company, Nike Inc., The Michelin Group, Bridgestone Corporation, Adidas AG, WestRock Company LLC, International Paper Company, Kimberly-Clark Corporation, Decathlon S.A., Russell Athletic LLC, Anta Sports Products Limited.
What Trends Are Shaping The Growth Of The Sporting And Athletic Goods Market Size?
Leading companies in the sporting and athletic goods market are prioritizing the development of innovative products, such as inspired sportswear, to strengthen their competitive edge. Inspired sportswear refers to clothing and apparel designed specifically for sports and fitness activities, blending style with functionality to enhance performance and appeal.
What Are the Different Segments of the Global Sporting And Athletic Goods Market?
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/Departmental Store; Other Distribution Channels
Geographical Insights: Asia-Pacific Leading The Sporting And Athletic Goods Market
Asia-Pacific was the largest region in the sporting and athletic goods market in 2023. Western Europe was the second-largest region in the market. The regions covered in the sporting and athletic goods report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Sporting And Athletic Goods Market?
Sporting and Athletic Goods pertain to technical fabrics designed to keep users comfortable during physical activities. The required equipment, like ball gloves and helmets, depends on the level of activity, and is used to create sporting and athletic goods excluding clothing and footwear.
The Sporting And Athletic Goods Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Sporting And Athletic Goods Market Report: Trends, Opportunities, Strategies, and More
The Sporting And Athletic Goods Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into sporting and athletic goods market size, sporting and athletic goods market drivers and trends, sporting and athletic goods global market major players, sporting and athletic goods competitors’ revenues, sporting and athletic goods global market positioning, and sporting and athletic goods market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
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Article originally published on www.einpresswire.com as Key Trend Influencing the Sporting And Athletic Goods Market in 2024: Innovative Tennis-Inspired Sportswear
