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Sporting and Athletic Goods Market Company Share, Major Competitors, Regional Segments, Strategies, And Forecast Until 2031 | Decathlon, Callaway Golf, NIKE, Performance Sports

05-22-2024 12:31 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Worldwide Market Reports

Sporting and Athletic Goods Market

Sporting and Athletic Goods Market

Market Overview:

The sporting and athletic goods market consists of products such as sports equipment, footwear, apparel and others. These goods are used for various sports activities as well as fitness and leisure.

Market Dynamics:

The sporting and athletic goods market is witnessing high growth owing to increasing participation in sports and fitness activities. According to a recent survey, over 50% of the global population participates in some form of recreational sports or exercises regularly. This growing health-consciousness and fitness trend among consumers is driving the demand for sporting and athletic goods. Furthermore, rising disposable income levels in developing countries is also contributing to the growth of this market as people are now able to spend more on sports and leisure.

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Sporting and Athletic Goods Market Drivers :

Increasing participation in sports and health awareness :

The participation in various sports and fitness activities has been consistently increasing over the past few years. More people are focusing on exercise and sports as a way to stay fit and healthy. Advancements in technology and growth of e-commerce have also made various sporting goods and equipment more affordable and accessible to masses. This rising interest in sports and awareness about health benefits is a major driver for growth of sporting goods market. The market sees increasing demand for items ranging from athletic shoes, apparel, equipment for popular team sports like football, basketball to gear for individual sports like running, yoga, fitness training etc.

Growing popularity of niche sports and outdoor recreation activities :

Along with traditional sports, there is rising popularity of niche and extreme sports as well as outdoor recreational activities. Adventure sports like hiking, camping, skiing, cycling, water sports etc have gained considerable followers looking for thrills. Equipment and apparel required for these niche categories presents new opportunities. For example, demand is growing for products like hiking boots and backpacks, skiing and snowboarding gear, kayaks and other water sport items. Technologies bringing innovations in material, design also support growth in these categories. Respect sports equipment manufacturers need to cater to wide range of consumers, products with variety in performance specification, styles and price points.

Sporting and Athletic Goods Market Restrain: Threat from low cost alternatives and counterfeits :

Availability of low cost alternatives and counterfeits poses a threat to established brands in sporting goods market. Customers especially price sensitive ones may opt for cheap imitation products. This reduces premiumization potential. It also leads to loss of brand loyalty. Companies invest heavily in R&D, innovation and marketing of products but counterfeits free ride on that benefit. Strong enforcement of IPR becomes important to curb fast growing problem of fakes in the market. Brands need to focus on differentiating offerings through superior quality and engaging customer experience to defend market share against low cost replicas.

Sporting and Athletic Goods Market Opportunity: Growing e-commerce sales and personalization :

E-commerce platforms are increasingly driving sales of sporting goods products. With convenience of online shopping and wide product selections, more consumers are making purchases on digital marketplaces instead of brick-and-mortar stores. Companies get an opportunity to directly reach and sell to customers disintermediated. Online channels also support personalized shopping experience through reviews, size charts, video product demonstrations etc. Advanced analytics help companies better understand customer segments and preferences. This allows customized product designs and virtual product configurations catering specific needs of individuals taking personalization to next level.

Sporting and Athletic Goods Market Trends: Rise of athleisure and fusion of sports and fashion :

A notable trend is emergence of 'athleisure' where sports and fashion are merging. Customers want versatile clothing and footwear that can effortlessly move from gym to street. There is rise in demand for trendy yoga pants, joggers, sneakers rather than traditional sports specific apparel. Products are designed to seamlessly blend performance and style. Leading brands are collaborating with fashion houses adding newness. This helps attract audience beyond core sports enthusiasts including casual wearers and cross over customers. Data analytics and designs lab help brands stay ahead of evolving preferences.

Some of the Major Companies covered in this Research are:

✦ Decathlon
✦ Callaway Golf
✦ NIKE
✦ Performance Sports
✦ Russell

By Types:

✦ Sporting Goods
✦ Athletic Goods

By Applications:

✦ Special Stores
✦ Hypermarket
✦ E-Commerce
✦ Retailers

Key highlights of the report:

• Market drivers and barriers, Performance
• Market Analysis by Application
• Market Overview and Classification
• Market Outlook (2024-2031)
• Sporting and Athletic Goods Market Trends
• SWOT Analysis
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

Most Frequently Asked Questions:

1. How feasible is the Sporting and Athletic Goods market for long-term investment?
2. What are the influencing factors driving the demand for this market in the future?
3. What is the impact analysis of various factors in the global market growth?
4. What are the recent trends in the regional market and how successful they are?

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Reasons to Purchase Report:

• The report findings are devoted to analyze the change taken place in the industry in the developed and developing countries.
• The factors that have played an influential role in the GPP growth rate of the industry are highlighted in the report.
• The report studies in detail the capital-intensive sectors playing an important role in the industry's economic development.
• The market size estimates, current market sizes, and market share analysis.
• Market study report provides detailed understanding of the entire market and ways to expand the business for generating larger revenue.
• This study report involves collecting important market data pertaining to target customers systematically.
• This market research report greatly helps in this regard by doing detailed research on market and bringing right information to the key participants.

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Worldwide Market Reports is your one-stop repository of detailed and in-depth research reports compiled by an extensive list of publishers from across the globe. We offer reports across virtually all domains and an exhaustive list of sub-domains under the sun. The in-depth analysis by some of the most vastly experienced analysts provides our diverse range of clients from across all industries with vital decision-making insights to plan and align their strategies in line with current trends

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