The retailing market for sports and leisure equipment is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2033, from an estimated US$ 332.5 billion in 2023 to US$ 624.1 billion by 2033.
As more individuals participate in sports and other recreational activities as a means of improving their health and reducing stress, the sports sector is becoming the largest in the world.
Sports have become more popular as an active and passive form of entertainment. Consumers are gradually spending more on sportswear, with athleisure apparel and accessories accounting for a sizable portion of the cost. The sports market in the twenty-first century is rife with extremes. Market research is becoming a top priority for marketing sports equipment and accessories as global markets become more and more competitive.
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The market is rising vastly, as people are increasingly attracted by the product’s capability to offer sweat-wicking & breathability and enhancement of physical movement. The product assists in safeguarding from extreme weather conditions improve blood circulation, and injury prevention is helping to surge its utilization. The rising growth of the urban population escalates the consumption of the product due to the increasing involvement of people in fitness activities.
Key takeaways
- Based on the sports type fitness sports will be the growing segment in the sports type are people are now more conscious about their health and fitness.
- Online retail distribution channel for sports equipment is expected to be the fastest-growing segment over the forecast period
- The Sports and Leisure Equipment Retailing market will grow with a CAGR of 6.8% in the forecast period.
- The sports and leisure equipment retailing market is growing strongly, characterized by the rapid adoption of new technologies and directness to changing trends.
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Who is winning?
Leading players in the Sports and Leisure Equipment Retailing market are focusing on promotional strategies and advertising popular tourist destinations in various regions to improve sales in the market.
The Sports and Leisure Equipment Retailing market boasts a diverse landscape with several major players driving its dynamics. Key participants in this sector include Adidas AG, Amer Sports, PUMA SE, Under Armour, Billabong International, Colombia Sport, Daiwa Seiko, New Balance, and Quicksilver.
This market encompasses various categories, including equipment, apparel, and shoes, catering to diverse end-users such as men, women, and children. Sports types range from biking, outdoor activities, tennis, and other racket sports to running, fitness, football/soccer, and other team sports.
Additionally, winter sports, water sports, and other miscellaneous activities contribute to the market’s vibrancy. Distribution channels span supermarkets/hypermarkets, specialty stores, online retail stores, and other distribution avenues, ensuring broad accessibility. Geographically, the market extends across regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa, reflecting its global reach and significance.
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