What is Sporting Goods Market?
Sporting Goods, also called sporting equipment, has various forms of equipment depending on the sports, but it is essential to complete the sports activity. This equipment ranges from the nets to balls, and to protective gear like helmets. Sporting goods can be used as protective gear or as a tool used to help the athletes playing the sport. Over time, sporting goods has evolved because sports have started to require more protective gear to prevent various injuries. Sporting goods can be found in any of the department stores also it can be found in E-commerce as well. The market for sporting goods is increasing due to the rising sporting infrastructure and its related activities. While factors like the high cost associated with the product and fluctuating raw material prices are hindering the market.
The market study is being classified by Type (Ball Sports, Adventurous Sports, Fitness Equipment, Golf Equipment, Sports Equipments, Athletic Footwear and Athletic Apparels), by Application (Franchise Outlets, Department Stores, Specialty Sports, Discount Stores, On-line and Other) and major geographies with country level break-up.
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) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are MIZUNO Corporation (Japan) and Skechers USA, Inc. (United States).
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Sporting Goods market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Sporting Goods market by Type, Application and Region.
On the basis of geography, the market of Sporting Goods has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Popularity of National and International Sports
- Developing Sporting Infrastructure Coupled With the Government Initiatives to Promote Sporting Activities
Market Trend
- Growing Adoption in Commercial Premise for Sportsground
- High Adoption Due to Online Shopping
Restraints
- High Cost Associated with Sporting Goods
- Fluctuating Raw Material Prizes
Opportunities
- Growing Infrastructural Developments in Emerging Countries
- Growing Sports Activities in Developed as well as Developing Regions
Challenges
- The Dominance of Local Players’ Product
Key Target Audience
Sporting Goods Manufacturers, Sporting Goods Distributors/Traders/Wholesalers, Sporting Goods Subcomponent Manufacturers, Industry Association, Downstream Vendors, End Users and Others