The Value Added of Sporting and Athletic Goods Manufacturing in Canada has experienced a consistent decline from 2014 to 2023, decreasing from 511.76 million CAD in 2014 to 389.0 million CAD in 2023. The year-on-year variation in 2023 was -3.09%, indicating a steady decline. The Compound Annual Growth Rate (CAGR) over the past five years was -3.96%, signaling a persistent downward trend. Notably, the value decreased sharply by 12.22% in 2019, partly stabilizing with minor fluctuations but continuing its overall descent.
Looking ahead, the forecast suggests that this downward trajectory will persist, with the value anticipated to reach 328.88 million CAD by 2028. The forecasted CAGR for the next five years stands at -2.68%, reflecting a continued reduction in industry value. Monitoring key factors such as changes in consumer preferences, advancements in technologies, and potential economic shifts will be crucial to understanding future trends in this sector.
