In 2023, the global kids sports equipment and accessories market is expected to reach a valuation of US$ 3,519.5 million. The growth of the sports equipment and accessories market can be attributed to the rise in fitness and sports consciousness around the globe, along with an increase in expenses on sports education and development among children.
Between 2023 and 2033, the market for kids sports equipment and accessories is expected to grow at a notable CAGR of 4.5%, reaching approximately US$ 5,465.6 million by the end of 2033.
As the disposable incomes of both parents and carers have increased, they have been able to spend more money on top-notch sports equipment for their kids. The market is positioned to prosper and meet the changing needs of young athletes and fitness enthusiasts as a result of these convergent forces.
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Key Takeaways
- China and India are leading the pack with phenomenal growth rates of 5.9% and 4.0%, respectively. They are flourishing in the Land of Opportunities. These nations’ large populations and expanding disposable incomes offer the market for children’s sports gear and accessories with attractive potential.
- Australia’s Athletic Ascent: With a strong 5.2% CAGR, Australia exhibits exceptional development potential. The demand for sports gear and accessories is driven by the nation’s strong emphasis on sports and active lives, as well as growing awareness of the value of children’s fitness.
- Germany and the United Kingdom: Ongoing Enthusiasm at 3.5% and 3.6%, respectively, are the constant growth rates in Germany and the United Kingdom. These developed markets have a long-standing interest in children’s sports, which is fueled by a strong sports culture, a focus on physical exercise from the parents, and access to high-quality facilities.
- Growing Sports Interest in Japan: Japan’s growth rate of 4.0% is encouraging. The demand for kids’ sports gear and accessories is noticeably increasing as the country continues to prioritize sports participation and encourage child participation in physical activities.
- The United States is making steady progress, with a growth rate of 2.7%. Despite facing fierce competition from sedentary lifestyles and digital entertainment, the country’s steadfast efforts to encourage kids’ sports and fitness have helped to continue growth.
Competitive Landscape
Numerous important reasons contribute to the fierce competition in the market for kids sporting goods and accessories. The need for related equipment has increased as kids’ sports and fitness have grown in popularity. The market’s competitiveness is further fueled by parents’ increasing awareness of the advantages of sports engagement for their kids.
The increase in discretionary income enables parents to spend more on premium sporting goods. Consumer alternatives are increased as a result of the rising popularity of internet purchasing, which increases competition. Further, the emergence of cutting-edge technology, like smart sportswear, opens up new market opportunities by luring customers with sophisticated features and performance-tracking capabilities. Companies work hard to stand out in this competitive environment and cater to the changing needs of young athletes.
- Nike
A well-known brand in the sportswear sector. The business sells a variety of kids’ sporting goods, including apparel, equipment, and footwear for different sports. Nike is renowned for its premium goods and cutting-edge styles.
- Adidas
Another well-known brand in the world of sportswear is Adidas. Similar to Nike, the brand provides a large selection of kids’ sporting goods and accessories. Adidas is renowned for both its fashionable designs and competitive pricing.
- Puma
Puma is a global German firm that creates and produces sportswear, accessories, and footwear. The business sells a variety of kids’ sporting goods, including apparel, equipment, and footwear for different sports. Puma is renowned for its chic styles and cozy fits.
- Under Armour
Sports clothing, footwear, and accessories are designed, developed, marketed, and distributed by the American multinational firm Under Armour. The business sells a variety of kids’ sporting goods, including apparel, equipment, and footwear for different sports. Known for its moisture-wicking materials and performance-improving technology, Under Armour
As many youngsters actively participate in physical activities, the popularity of sports and fitness among kids is fueling strong demand for sports equipment and accessories, generating a vibrant industry. The demand for sports equipment and accessories is rising as parents are willing to spend money on getting their kids high-quality gear thanks to rising disposable incomes and more parental knowledge of the advantages of sports.
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Key Segments of Kids Sports Equipment and Accessories Industry Survey
By Sports:
- Outdoor
- Indoor
- Fitness
- Soccer
- Cricket
- Baseball
- Netball
- Tennis
- Badminton
- Table Tennis
- Carom
- Air Hockey
- Other
By Fitness Equipment and Accessories:
- Sports Machines
- Sports Bench
- Light Weight Dumbbells
- Other
By Age Group:
- For 6 to 9-Year-Olds
- For 10 to 12-Year-Olds
By Price:
- Low Priced
- Medium Priced
- High Priced
By Distribution Channel:
- Sales via Offline Markets
- Sales via Online Retailing Markets
- Sales via Exclusive Stores
- Sales via Sports Equipment Stores
- Sales via Other Distribution Channels
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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