Europe Sporting Goods Market Analysis and Future Scenario Planning 2024 - 2031 | Under Armour, Inc., PUMA SE, Amer Sports

Market Overview:

Europe sporting goods market was valued at US$ 153.7 Bn in 2022 and is expected to exhibit a CAGR of 6.8%, in terms of revenue, over the forecast period (2023-2030), to reach US$ 260.0 Bn by 2030.

Market Dynamics:

The sporting goods market in Europe is witnessing high growth due to growing participation in sports and fitness activities among consumers. It is estimated that over 50% of the European population participates in some form of recreational sports on a regular basis. Rising health awareness and busy lifestyles have encouraged people to incorporate physical activities and exercises into their daily routines. Additionally, sports leagues and tournaments in popular sports such as football, rugby, cricket are highly popular and attract massive spectator participation and viewership. This is significantly boosting the demand for sports equipment and apparel among professional and amateur players as well as fans. Furthermore, high disposable income levels in Western European countries allow consumers to spend on premium sports products and accessories.

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Drive towards health and fitness increasing demand for sporting goods in Europe

The growing awareness among Europeans regarding the importance of maintaining good health and leading a physically active lifestyle has been a key driver for the sporting goods market in the region. More and more people are incorporating exercise and sports activities into their daily routines to stay fit and healthy. This has increased the demand for various sporting goods equipment and apparel. Sports goods manufacturers have responded to this growing trend by coming up with innovative new products that make exercise more convenient and enjoyable for consumers. They are also focusing on lifestyle and casual sports segments. This has boosted the sales of products across categories like fitness equipment, sports apparel, outdoor sports gear, team sports goods etc. With obesity and lifestyle diseases on the rise, maintaining physical fitness through regular sports and exercise is increasingly becoming a necessity rather than a choice for Europeans. This driver of prioritizing health is expected to sustain the momentum of growth in Europe's sporting goods industry.

Growing focus on women's sports presents opportunities

One of the key opportunities for the European sporting goods industry lies in catering more effectively to the rising popularity of women's sports. Participation of women in various recreational and competitive sports has grown substantially over the past decade. This includes traditional games as well as new-age fitness activities. However, the sporting goods available for women have traditionally had lesser choices and were often not adequately designed to suit their specific requirements. Manufacturers are now stepping up efforts to address this gender gap. They are launching innovative products custom-made for women across categories like apparel, footwear, safety gear and others. This allows female athletes to perform at an optimal level with maximum comfort. Besides improving product offerings, companies are also supporting women leagues and competitions through strategic sponsorships. With girls and women increasingly taking up sports as a career or lifestyle choice, better serving their needs can pave the way for healthy revenue growth in the future.

E-commerce revolutionizing distribution landscape

A major trend that is reshaping Europe's sporting goods retail space is the rapid growth of e-commerce. Online channels have revolutionized how consumers purchase various products, including sports goods. Traditional brick-and-mortar stores are facing stiff competition from popular online retailers and sport brands' own websites and apps. E-tailers provide advantages in terms of massive assortments, real-time availability, lucrative discounts and deals, simple returns and fast doorstep delivery. They have tremendously boosted product discovery as users can conveniently research all options online before buying. The e-commerce boom has compelled all stakeholders in the supply chain from manufacturers to retailers to optimise their digital capabilities and logistics. While physical stores will still co-exist, online platforms will dominantly drive future growth in the sporting goods industry. Companies are investing in areas like website personalisation, mobile apps, social selling and multi-channel integration to capitalize on opportunities emerging in Europe's dynamic e-retail landscape.

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Top Companies Featured in This Report:

★ Key players active in the Europe sporting goods market are Adidas AG
★ Nike Inc.
★ Under Armour Inc.
★ PUMA SE
★ Amer Sports
★ Odlo
★ Hammer Sports
★ Polar Electro
★ KETTLER
★ WaterRower

Market Segmentation:

By Product Type:

★ By Product Type: Football, Team sports, Tennis, Bike sports, Racket sports, Outdoor Sports, Fitness, Running, Water sports, Winter sports, Golf, Other sports

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Key Inquiries Addressed in this Report include:

📈 What was the size of the Europe Sporting Goods Market in 2024, and what is the projected value by 2031?

📈 What is the present global market landscape for the Europe Sporting Goods Market?

📈 What strategies offer optimal opportunities for growth maximization in the business?

📈 What recent trends are shaping the Europe Sporting Goods Market?

📈 How does the market share of Europe Sporting Goods Market revenue, sales, and size vary across specific geographical regions?

📈 Who are the prominent industry players in the Europe Sporting Goods Market?

📈 Which segment of the Europe Sporting Goods Market is experiencing heightened demand?

The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Europe Sporting Goods sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

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Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

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