Press release
Sporting Goods Market Growth Driven by Rising Health and Wellness Awareness Among the Population
Market dynamics
An increasing prevalence of obesity due to a modern and hectic lifestyle and increasing health and wellness awareness among the female population are the key factors influencing the growth of the Europe sporting goods market. A hectic modern lifestyle, increasing intake of high-calorie processed food, and prolonged desk-bound jobs are major causes for increasing prevalence of obesity among the population in Europe, which is in turn fueling the demand for sporting goods to improve the quality of life. Also, growing prevalence of obesity is driving the demand for fitness-related sports equipment and encouraging end users to increase their spending on sporting goods. Furthermore, increasing disposable income in major European countries is expected to drive revenue growth of the Europe sporting goods market over the forecast period.
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One of the major restraints for the growth of the sporting goods market in Europe is the increasing time spent on the internet, mobile device games, and other related non-physical activities by the younger generation that is reducing their interest in physical sports. This trend has diminished the demand for sports goods and products in Europe and is one of the main factors hampering the growth of the Europe sporting goods market.
Market forecast
The Europe sporting goods market is segmented on the basis of product type into Football, Teamsports, Tennis, Bike Sports, Racket Sports, Outdoor Sports, Water Sports, Running, Winter Sports, Golf, and Other Sports. Each of the product type segments are further sub-segmented into Apparel, Equipment, and Shoes sub-segments. The Europe sporting goods market is segmented on the basis of country into Germany, France, Italy, Spain, Austria, Switzerland, Netherlands, and Rest of Europe.
The Football product type segment is estimated to be the highest contributor in terms of revenue to the Europe sporting goods market by 2016 end, followed by the Teamsports and Tennis product type segments. The Football product type segment is expected to be the fastest growing segment in the overall market throughout the forecast period (2016–2024), registering a CAGR of 8.3% in terms of revenue. The Teamsports product type segment is estimated to be the second largest segment and account for 17.4% value share of the Europe sporting goods market by the end of 2024.
The Football segment is expected to remain dominant in the Germany sporting goods market throughout the forecast period. This segment was valued at € 3,849.7 Mn in 2015 and is estimated to increase to € 4,102.2 Mn by 2016 end, reflecting a Y-o-Y growth rate of 6.6%.
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Competitive landscape
The Europe sporting goods market report features some of the leading players operating in the Europe sporting goods market. Some of the top companies profiled in the report are Adidas AG, Nike Inc., Under Armour Inc., PUMA SE, Amer Sports, Odlo, Hammer Sports, Polar Electro, KETTLER, and WaterRower Inc. Adidas AG is one of the leading manufacturers operating in the Europe sporting goods market, engaged in the design, development, production, and distribution of athletic and sports lifestyle products. Nike, Inc. designs, develops, and distributes athletic footwear, apparel, equipment, sports accessories, and services. PUMA SE is one of the leading companies in sports and sports lifestyle products such as footwear, apparel, and accessories. Leading market players are focused on strategic collaborations and expansion activities to increase their footprint throughout Europe.
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