From 2013 to 2022, the import value of equipment for gymnastics, sports, outdoor games to Singapore showed fluctuating trends with notable dips in 2015 (-14.43%) and 2020 (-4.16%). However, the market demonstrated resilience with varying recovery rates, culminating in a slight upward trend from 2020 onwards, peaking at USD 181.79 million in 2022. The forecasted data from 2023 to 2028 indicates a consistent yet moderate year-on-year increase, with a forecasted 5-year CAGR rate of 0.65%, attaining USD 191.01 million in import value by 2028.
Future Trends to Watch: As health and wellness trends continue to rise, coupled with potential policy enhancements towards sports development, Singapore’s demand for sports equipment is likely to grow. Additionally, technological advancements in sports equipment and consumer preferences for innovative products could further drive imports.
