Sports Equipment and Accessories Market Analysis, Segments, Growth and Value Chain 2021 to 2028
Sports industry is growing to be biggest in the world as more and more people are increasingly taking up sports and recreational activities in lieu of growing health awareness and stress management.
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Sports has gained importance both as a passive and active source of entertainment. Consumers are progressively spending more on sportswear with a large share of the expense constituting of athleisure clothing and accessories. Sport in the 21st century is a market full of extremes. With markets throughout the world becoming increasingly more competitive, market research is now on the main agenda of marketing the sports goods and accessories.
The global sports equipment and accessory market is growing robustly and is characterized by swift adoption of newer technologies and openness to changing trends. The industry is thriving immensely on e-commerce, which is a popular retail medium nowadays that also offers consumers the benefit to compare all the available brands of sports equipment. It is a one-stop shop for all sports accessories and equipment, which in turn enhances the salability in the global sports equipment market.
Sports equipment and accessories market is highly competitive owing to many established market players in retail, e-commerce, sports stores and wholesale and many new startups joining frequently. It also faces negative competition with counterfeit sporting equipment and accessories with cheaper low quality variants. During the forecast period, the increasing sense of health-consciousness amongst the consumers is expected to stimulate the demand for athletic equipment. Additionally, the rising trend to follow the prominent sport players will drive the accessory business.
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The Covid-19 pandemic has a vital impact on the growth of the global Sports Equipment and Accessories market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the global Sports Equipment and Accessories market.
The market has further been analyzed across geographical regions namely North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, U.K., and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The report analyses the Sports equipment and accessory market on the basis of types of sports, types of distribution channels, and geography. Based on types of sports, the market is classified into Team Sports (Baseball & Softball, Basketball, Football, Hockey, Soccer), Outdoor Sports (Airsoft & Paintball, Camping & Hiking, Cycling, Fishing, Golf, Hunting, Water Sports), Recreation and Exercise (Bowling, Cardio Equipment, Fitness & Exercise, Mixed Martial Arts, Racquet Sports, Skateboarding, Swimming & Water Workouts, Weight Training & Home Gyms, Yoga, Pilates & Toning, Winter Sports. Sports equipment and accessory market work through four different channels such as Sports shop, Department and Discount Stores, Online retail and others.
Key Market Players Profiled In The Report: Nike Inc, Adidas AG, Reebok International Ltd, Puma SE, Under Armour Inc, V.F. Corporation, Everlast worldwide Inc, Wilson Sporting Goods, New Balance, Fila Inc
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Potential Benefits for Stakeholders
○ Comprehensive analysis of the current and future trends in the Sports Equipment and accessory market are provided in this report.
○ The report offers a competitive scenario of the market with current and future growth trends, structure, driving factors, scope, opportunities, and challenges.
○ The report includes a comprehensive analysis of the market segments to provide insights on the market dynamics.
○ Porters Five Forces analysis highlights the potential of buyers and suppliers as well as provides insights on the market to devise effective growth strategies and facilitate better decision-making.
○ Value chain analysis provides key inputs on the role of stakeholders involved at various stages of the value chain.
○ SWOT analysis of the key market players highlights their strengths and weaknesses along with potential opportunities present in the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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