The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global sporting and athletic goods market is on a trajectory of robust growth, set to reach $179.1 billion in 2023 with a compound annual growth rate (CAGR) of 8.4%. This flourishing trend is expected to continue, propelling the market size to an impressive $238.89 billion by 2027 at a CAGR of 7.5%. Let’s delve into the factors driving this surge and the trends shaping the industry.

Economic Growth and Market Dynamics

• Steady Economic Growth: The sporting and athletic goods manufacturing market stands to benefit from the steady economic growth projected for developed and developing countries.
• Global GDP Growth: According to the International Monetary Fund (IMF), the global GDP growth was 3.3% in 2020 and 3.4% in 2021, fostering a conducive environment for market expansion.
• Commodity Prices: The recovery of commodity prices adds to the economic growth, contributing significantly to the positive outlook of the sporting and athletic goods market.
• US Economic Stability: The US economy is anticipated to exhibit stable growth, further bolstering the global market.

Market Drivers

• Emerging Markets: Emerging markets are expected to outpace developed markets in terms of growth, driving public and private investments, joint ventures, and foreign direct investments in end-user markets.
• Investment Opportunities: Greater economic growth creates opportunities for investments, joint ventures, and foreign direct investments, propelling the sporting and athletic goods market forward.

Key Players and Technological Trends

• Industry Giants: Major companies dominating the sporting and athletic goods market include Decathlon S.A, Amer Sports Corporation, Nike, Inc., Adidas AG, and more.
• Additive Manufacturing: A significant trend in the industry is the adoption of additive manufacturing, a process involving building three-dimensional objects using digital models and successive layers of material.
• Rapid Prototyping: Additive manufacturing allows for efficient rapid prototyping, meeting fast-changing customer demands and performance requirements.
• Asics Corporation’s Innovation: As an example, Asics Corporation is leveraging 3D printing technology with ACTIBREEZE, a groundbreaking geometric structure incorporated into a sandal designed to support recovering athletes. This showcases the potential of additive manufacturing in catering to individualized needs.

Market Segmentation

1. By Type:
   • Fishing Equipment
   • Skating And Skiing Equipment
   • Golf Equipment
   • Other Sporting Equipment
2. By Distribution Channel:
   • Online Stores
   • Specialty Stores
   • Convenience/Departmental Store
   • Other Distribution Channels
3. By Material:
   • Plastics
   • Wood
   • Metal
   • Other Materials

Regional Dominance

• Asia-Pacific Leadership: In 2022, Asia-Pacific emerged as the largest region in the sporting and athletic goods market, showcasing the region’s dominance and potential for future growth.

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The Sporting And Athletic Goods Global Market Report 2023  provides an overview of the sporting and athletic goods market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The sporting and athletic goods market forecast analyzes sporting and athletic goods market size, sporting and athletic goods market share, leading competitor and their market positions.

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