The expenses in the Sporting and Athletic Goods Manufacturing sector in Canada have shown significant fluctuations over the past decade. From a high of CAD 1.482 billion in 2015, the sector saw several year-on-year declines, hitting CAD 0.84774 billion in 2023. Notably, 2015 experienced a substantial increase in expenses, while 2019, 2020, and 2021 marked consistent declines. The five-year compound annual growth rate (CAGR) from 2016 to 2021 was -4%, reflecting a broader declining trend.
Looking ahead from 2024 to 2028, forecasted data shows a stark decrease, with the sector expected to shrink further to CAD 0.42359 billion by 2028. This represents a forecasted five-year CAGR of -11.06%, suggesting a continuing downtrend.
Future trends to watch for:
- Changes in consumer preferences and demand for sporting equipment.
- Impact of technological advancements on manufacturing costs.
- Global supply chain challenges and their effect on expenses.
- Economic conditions and their influence on discretionary spending.
