Global Sports Goods Market Overview:
Sports goods has numerous forms depending on the sport, but it is essential to complete the sport. It can be used as protective gear or as a tool used to help the athletes play the sport. In the current scenario, with increasing participation of celebrity endorsement for fitness and sports, the global market for sports goods is anticipated to grow at a significant momentum. Sports goods can be found in any of the department stores also it can be found in E-commerce as well. The market for sports goods is increasing due to the rising sporting infrastructure and its related activities.
Growth Drivers
- Rising Sports Culture Coupled With Favorable Government Initiatives
- Increasing Number of Sport Clubs
Roadblocks
- Dominance of Local Players
- Rising Raw Material Cost
Opportunities
- Rising E-commerce Availability of Sports Goods
- Growing Acceptance in Millennials
- Growing Inclination towards Healthy Living
Challenges
- Growing Market for Counterlift Products
Competitive Landscape:
The Sports Goods market is fragmented owing to the presence of numerous players. Attractive marketing strategies and a rise in awareness for fitness anticipated offering lucrative growth prospects for the global Sports Goods market.
Some of the key players profiled in the report are Nike (United States), Adidas AG (Germany), Puma SE (Germany), Amer Sports Corporation (Finland), VF Corporation (United States), Asics Corporation (Japan), Under Armour Inc. (United States), Brooks Sports Inc. (United States), The North Face, Inc. (United States) and YONEX Co. Ltd. (Japan). Considering Market by Distribution Channel, the sub-segment i.e. Franchise Outlets will boost the Sports Goods market. Considering Market by End User, the sub-segment i.e. Coaches will boost the Sports Goods market.
In Jan 2020, BSN SPORTS announced that it has acquired the team sports business of Wayne Sporting Goods(“WSG”), based in Wayne, PA.
What Can be Explored with the Sports Goods Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Sports Goods Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Sports Goods
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Sports Goods market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Sports Goods market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Sports Goods Manufacturers, Sports Goods International Traders, Sports Goods Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies, Upstream and Downstream Buyers and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.