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Sports Equipment and Apparel Market By Product Type, By Sports Type, By Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2020-2031

Sports Equipment and Apparel Market By Product Type, By Sports Type, By Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2020-2031

  • June 2022
  • 342 pages
  • ID: 6351929
  • Format: PDF
  • Allied Market Research

Summary

Table of Contents

Sports Equipment and Apparel Market By Product Type (Equipment, Apparel and Shoes), By Sports Type (Bike, Outdoor, Tennis, Other Racket Sports, Running, Fitness, Football/Soccer, Other Team Sports, Winter Sports, Watersports, Other), By Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2020-2031

The sports equipment and apparel market size was valued at $ 3,40,572 million in 2020 and is estimated to reach $ 9,30,536 million by 2031, registering a CAGR of 8.3% from 2022 to 2031.   
Rise in expenditure on sports training and development among children, owing to increase in consciousness about the benefits of engaging in sports activity such as increased concentration and problem-solving ability has fueled the demand for sports equipment and apparel. Moreover, changing paradigm of educational system supports the growth of sport industry and industries related to it. In addition, rise in sports education and sports training in academics has significantly increased the awareness towards sports and fitness. Thus, many of the school/educational institutes are providing training to the students, providing them with the opportunity to compete in various sports competitions. Furthermore, upsurge in state, national, and international level competitions conducted by various governments across the world is leading to increased participation and developing interest of the youth in sports activities. This in turn has resulted in increased demand for sports equipment and apparel, which significantly contributes to the overall growth of the market.
Initiatives taken by various governments to promote sports, health, and fitness have led to increased consciousness about sports and sports-related products. For instance, Sports for All is an initiative by government of the U.S. for providing sports knowledge to citizens, which has drastically increased involvement of consumers in sports activity. In addition, in the U.S., President’s Council on Fitness, Sports & Nutrition has rolled out programs and initiatives to motivate people of all ages, backgrounds, and abilities to lead an active and healthy life. Likewise, governments’ investment on players and athletes is a major factor, which propels the growth of sports industry and corresponding growth of sports and equipment industry.
The Australian Government, with support of the Australian Sports Commission (ASC), invested $340 million on Australian Olympians to provide the required support for Rio Olympics. These various initiatives and increase in investments by various governments are leading to increased participation in sports activities by young people, which in turn boost the demand for sports equipment and apparel.
Various big brands are entering the untapped market where lack of availability of sports facilities and products is witnessed. These key players are setting up sports facilities, sports centers, and play grounds, and correspondingly promoting their products. Likewise, various organizations and NGOs are donating the sports equipment and apparel, building sports facilities, conducting free of cost sports competitions, and training the potential athletes free of cost. Moreover, developing interest of the young population in sports is anticipated to offer potential opportunities to the market in the near future. These factors altogether significantly contribute towards the growth of the market in untapped regions.
The global sports equipment and apparel market is segmented on the basis of product type, sports type, distribution channel, and geography. Based on product type, the market is categorized into equipment and apparel & shoes. By sports type, it is classified into bike, outdoor, tennis, other racket sports, running, fitness, football/soccer, other team sports, winter sports, watersports, and others. In terms of distribution channel, it is divided into online and offline. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and ROW.
On the basis of region, Asia-Pacific is expected to reach $2,94,049 million by 2031. Asia-Pacific is the fastest growing and the largest regional markets in the world. This is attributed to stable economic condition coupled with increase in disposable income. Moreover, consumer’s preference for healthy lifestyle and consistent rise in adventure tourism and outings boost the growth of the market in the region.
Major players in sports equipment and apparel market include Adidas AG, Asics Corporation, Decathlon S.A., Fila Holdings Corp., New Balance, Nike Inc., Puma Se, The Gap, Inc., Under Armour, Inc, and VF Corporation.

Key benefits for stakeholders
The report provides an extensive analysis of the current & emerging market trends and opportunities in the global sports equipment and apparel market.
The report provides detailed qualitative and quantitative analysis of current trends and future estimations that assists to evaluate the prevailing market opportunities.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth
Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
The report provides information regarding drivers, restraints, and opportunities with impact analysis.
A quantitative analysis of the current market and estimation for the same from 2021 to 2031 is provided to showcase the financial competency of the market.
Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.

Key Market Segments

By Distribution Channel
- Online
- Offline

By Product Type
- Equipment
- Apparel and Shoes

By Sports Type
- Bike
- Outdoor
- Tennis
- Other Racket Sports
- Running
- Fitness
- Football/Soccer
- Other Team Sports
- Winter Sports
- Watersports
- Other

By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- Poland
- France
- U.K.
- Austria
- Italy
- Switzerland
- Sweden
- Spain
- Russia
- Norway
- Denmark
- Czech Republic
- Hungary
- Finland
- Ireland
- Belgium
- The Netherlands
- Luxembourg
- Portugal
- Rest of Europe
- Asia-Pacific
- China
- Australia
- Japan
- Malaysia
- Thailand
- Singapore
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East And Africa
- Key Market Players
- ADIDAS AG (ADIDAS)
- AMER SPORTS CORPORATIONASICS CORPORATION
- DECATHLON S.A.
- GAP INC.
- NEW BALANCE
- NIKE, INC. (NIKE)
- PUMA SE
- UNDER ARMOUR, INC
- VF CORPORATION (VFC)

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