21 February 2019: Sports Good Market was million US$ in 2018 and is expected to million US$ by the end of 2024, growing at a CAGR of between 2019 and 2024.This report studies the Sports Good market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2024; This report also studies the global Sports Good market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.
The Global Sports Goods Market is subject to witness a substantial growth due to the rising enthusiasm towards sports & sporting events, increasing focus towards fitness activities, and growing penetration of retail e-commerce sector across the globe. Additionally, rising disposable income and health consciousness among young population in both developed and developing economies worldwide are anticipated to drive the growth of sports goods market over the forecast period. Changing lifestyle patterns and increasing participation in sports related activities by young population are estimated to fuel the market growth in upcoming years.
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Increasing awareness about health benefits associated with sports and fitness activities such as improved health and reduced the risk of chronic disorders are boosting the market demand of sports goods. Additionally, sports and fitness activities helps to limit depression, cardiovascular diseases, and diabetes. Such factors are leading to the soaring demand of sports and fitness activities. Globally, the market is predicted to grow at significant CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the sports goods & equipment.
Rising adoption of sports good & equipment during sports activities in order to avert injuries to leg muscle, knee pain, hip pain, and back pain, is leading to substantial purchase of sports good & equipment in North America and Asia Pacifica market. Additionally, lowering cost of the sports goods in Asia-Pacific market is expected to augment market demand in near future. The recent development of innovative manufacturing technology that is increasingly adopted by industry players, has led to production of high performing sports good & equipment. For example, recent advancement in sports footwear industry such as advent of a forged mesh technology, that allows development of a single layer shoe with a ribbed pattern on the upper portion with help of ARAMIS, which is a motion capture technology, has gained a lot of appreciation and demand from North America and European region.
Growing popularity of international sporting events such as football, tennis, cricket and basketball are expected to drive larger customer base towards sports goods & equipment over the forecast period. Moreover, increasing penetration of e-commerce sector coupled with growing number of specialty and sports shops and department and discount stores across the globe are anticipated to favor market expansion in the upcoming years as well.
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Sports Good Market by Geographical Regions:-
- North America
- Asia Pacific
- Middle East and Africa
- South America
The market data is given for the following product segments:
- Fishing hooks
- Fishing reels
- Fishing rods
- Other fishing and hunting equipment
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