Sporting and athletic goods market comprises of the sales of sporting & athletic goods by entities that produce the sporting & athletic goods, except clothing and footwear. The sporting & athletic goods market is bifurcated into skating & skiing equipment, fishing equipment, golf equipment and other sporting equipment. A sport is one of the most effective tools for health, entertainment, and building a sustainable & prosperous future for next generation. For both mental and physical health, it is essential to include at least one sports activity in everyday life routine. Increase in awareness and importance of sports activities is primarily driving the sporting and athletic goods market across the globe.
Referring to study, “Sporting And Athletic Goods Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global sporting and athletic goods market include Callaway Golf Company, Decathlon, NIKE, Russell, Performance Sports Group. Key manufacturers are performing extensive research & development related to raw material used for instance use of carbon fiber to manufacture the supporting & athletic goods as it offers various advantages including high-strength, light weight and better performance of the product. Furthermore, players focus on introducing innovative technologies in order to improve in-store trade experience whilst providing a seamless shopping experience over the multiple channels.
Based on type, sporting and athletic goods market is segregated as skating & skiing equipment, fishing equipment, golf equipment and others. Based on material, market is segregated as wood, plastic, metal and others. In addition, based on distribution channel, market is segregated as convenience or departmental Store, specialty stores, online stores and others. Online stores segment is estimated to exhibit higher growth rate due to increase in usage of mobile phones & other electronic devices by clients to browse or shop online for products during the forecast period.
The sporting and athletic goods
market is driven by rise in awareness regarding fitness & healthy
lifestyle, followed by increase in disposable income & standard of living
and growth in technological advancements in sporting goods. However, production
of counterfeit products and high costs incurred in equipment manufacturing may
impact the market. Moreover, rise in demand for lightweight materials &
advanced technologies are key opportunities for market.
Nowadays sports career is attaining
popularity owing to large number of sports events organized across the globe
such as Olympics, world cup, Asian games etc. Now sports activities are made
compulsory by the government bodies in schools & colleges for encouraging
the generation towards sports career. Government of all regions across the
globe are taking various initiatives for developing sports activities in their
countries by organizing different sports events to support the young players
and by making vast investment to develop the sports infrastructure of their
countries. Based on geography, the Asia-pacific is the largest region in global
sporting and athletic goods market owing to growth in government inclination
coupled with support for sport activities in many countries across the region.
The North-America and Europe regions are expected to exhibit higher CAGR due to
increase in awareness of health & fitness through the encouragement of
sports over the forecast period. It is likely that future of the global
sporting and athletic goods market will be optimistic because of developing
sports infrastructure of developing countries along with increase in government
initiatives to promote sports activities during the forecast period.
For More Information,
Click on the Link Below:-
Global
Sporting and Athletic Goods Industry
Related Report:-
Sporting
and Athletic Goods Manufacturing Global Market Forecast to 2022
Sporting
and Athletic Goods Manufacturing Global Market Report 2019
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
No comments:
Post a Comment