The sporting and athletic goods manufacturing industry in Canada has experienced significant fluctuations over the past decade. From 2014 to 2023, revenue saw periods of growth and decline, with a notable year-on-year decrease of 5.95% in 2023, bringing the industry value to 0.973 billion CAD. The five-year compound annual growth rate (CAGR) up to 2023 was -7.26%, highlighting a consistent downward trend.
From 2024 onwards, forecasts suggest continued decline, with a projected five-year CAGR of -5.86% and a total decrease of 26.07% by 2028. The revenue is expected to drop to 0.674 billion CAD by 2028.
Future trends to watch for include:
- The impact of technological advancements on production efficiency and cost reduction.- Increasing consumer interest in health and fitness potentially driving demand.- Sustainability initiatives potentially reshaping manufacturing practices and product offerings.- The role of international trade policies and tariffs affecting import/export dynamics.
