The athletics equipment market in South Africa has shown a decline in size, with the value in 2023 standing at 179.23 million US dollars. Observing the year-on-year variation over the last two years: in 2022, it decreased by 0.76% and in 2023, it further dropped by 0.76%. The Compound Annual Growth Rate (CAGR) averaged -0.78% over the past five years, highlighting a downward trend. This negative trend is expected to continue with a forecasted 5-year CAGR of -0.65%, indicating a further 3.2% decline by 2028.
Future trends to watch for:
- Impact of economic factors and consumer spending power.
- Technological innovations in athletics equipment.
- Shifts in consumer behavior and preferences towards fitness activities.
- Emerging market competitors and strategic movements in the sports industry.
