The Athletics Equipment Market in Mexico exhibited a declining trend over the past decade, with market value standing at $447.97 million in 2023. Despite moderate growth in the early years, the period from 2016 to 2023 saw continuous decreases, driven by fluctuating consumer demand and economic factors.
Year-on-year variations over the last two years highlight this decline:
- 2022: -0.36%
- 2023: -0.35%
Considering the last five years, the market witnessed a Compounded Annual Growth Rate (CAGR) of -0.83%, indicating a steady contraction. Looking forward, the forecasted CAGR for the next five years is anticipated to be -0.3% with an overall growth rate of -1.47%, suggesting a continued shrinking market.
Future trends to watch for include advancements in digital fitness solutions, evolving consumer preferences towards at-home workout equipment, and the impact of increased health awareness post-pandemic. Additionally, economic recovery and shifts in disposable income will play crucial roles in shaping market dynamics.
