The turnover of wholesale of sports and recreational articles in China reached 137.18 hundred million Yuan Renminbi in 2023. Over the past decade, the market experienced significant fluctuations: achieving high growth between 2013 and 2016, then facing a sharp decline in 2018 and a downward trend that continued until 2020. However, a slight positive reversal began in 2021. The year-on-year growth for 2023 was 3.42%, signaling a cautious recovery.
Looking ahead, the forecasted data for 2024 indicates a stabilization around the 137-139 range, with a 5-year CAGR of 0.26%. While this suggests modest growth, the industry is yet to fully recover to its peak levels observed in the mid-2010s. Future trends to watch include the impact of increasing health consciousness among consumers, rising disposable incomes, and the potential influence of global sports events scheduled to occur in coming years. Adaptation to digital sales channels and consumer preferences for sustainable products will also be pivotal factors influencing market dynamics.
