In analyzing the Manufacture of Sports Goods sector in the UK from 2013 to 2028, as of 2023, the sector reached a production value of 681.5 million pounds. The period saw significant fluctuations: substantial growth peaks in 2014, 2016, and 2019 contrasted with declines in 2015, 2018, and 2020. Despite the initial volatility, the last two years showed modest uplift with yearly increases of 2.56% in 2022 and 2.45% in 2023, culminating in a robust 5-year compound annual growth rate (CAGR) of 6.16% through 2023.
Looking ahead, the forecast indicates steady growth, albeit at a slower pace, with a projected 1.85% CAGR from 2024 to 2028, resulting in an overall 9.62% growth rate over these five years.
Future trends to watch for:
- Impact of innovation and technological advancements on production efficiency.
- Changing consumer preferences towards sustainable and eco-friendly sports goods.
- Potential economic and geopolitical factors affecting market stability and consumer spending.
- Expansion of e-commerce platforms driving global sales opportunities.
