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 Business Research Company’s Sporting Goods, Hobby, Musical Instrument, and Book Stores Global Market Report 2023 offers crucial insights into the sporting goods, hobby, musical instrument, and book stores market help businesses analyse and build stronger strategies.

The global sporting goods, hobby, musical instrument, and book stores market is undergoing a remarkable expansion, poised to grow from $468.13 billion in 2022 to $500.41 billion in 2023, marking a substantial compound annual growth rate (CAGR) of 6.9%. With the forecast predicting further growth to $628.41 billion by 2027 at a CAGR of 5.9%, the market’s trajectory is a fascinating exploration.

Economic Catalysts

The promising future of the sporting goods and retail sector is intricately linked to steady economic growth projected for numerous developed and developing countries. The International Monetary Fund reports global GDP growth at 3.3% in 2020 and 3.4% in 2021, indicating resilience and recovery. Factors such as recovering commodity prices and stable growth in the US economy are expected to fuel economic expansion. Emerging markets, outpacing their developed counterparts, are likely to drive public and private investments, further propelling the sporting goods market during the forecast period.

• Key Economic Drivers:
  • Recovering commodity prices.
  • Stable growth in the US economy.
  • Emerging markets leading in growth.

Industry Titans

Major companies dominating the sporting goods, hobby, musical instrument, and book stores market include Decathlon S.A, Dick’s Sporting Goods Inc., Frasers Group Plc, BPS Direct L.L.C. (Bass Pro Shops), Guitar Center Inc., Canadian Tire Corporation Limited, Recreational Equipment Inc., Sportsman’s Warehouse, Hibbett Sports Inc., and Thomann GmbH. These industry giants play a pivotal role in shaping the market dynamics and trends.

• Industry Leaders:
  • Decathlon S.A
  • Dick’s Sporting Goods Inc.
  • Frasers Group Plc
  • BPS Direct L.L.C. (Bass Pro Shops)
  • Guitar Center Inc.

Customization in Demand

A notable trend within the industry is the increasing focus on customization and personalization. With a surge in online users, evolving demographics, and rising per-capita income, there is a growing demand for unique and tailor-made products. Global sporting goods manufacturers, including Nike, Adidas, Puma, ASICS, Sketchers, and Fila, are investing heavily in meeting this demand. For instance, Race Sporting Goods has introduced customized sporting clothes, catering directly to the preferences and demands of customers.

• Customization Trend:
  • Response to changing demographics.
  • Investment by major manufacturers.
  • Examples: Nike, Adidas, Puma, ASICS, Sketchers, Fila.

Market Segmentation

Understanding the diverse aspects of the sporting goods and retail market necessitates exploring its segmentation based on type, ownership, and type of store.

• 1) By Type:
  • Sporting Goods Stores
  • Hobby, Toy, Game Stores
  • Musical Instrument And Supplies Stores
  • Other Sporting Goods, Hobby, Musical Instrument, Book Stores
• 2) By Ownership:
  • Retail Chain
  • Independent Retailer
• 3) By Type of Store:
  • Exclusive Retailers/Showroom
  • Inclusive Retailers/Dealer Store

Regional Dominance: Western Europe at the Helm

In 2022, Western Europe emerged as the largest region in the sporting goods, hobby, musical instrument, and book stores market. This regional dominance underscores the global nature of the market and highlights the importance of Western Europe in shaping industry trends.

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The Sporting Goods, Hobby, Musical Instrument, and Book Stores Global Market Report 2023  provides a comprehensive outlook of the sporting goods, hobby, musical instrument, and book stores market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The sporting goods, hobby, musical instrument, and book stores market forecast offers a thorough analysis on sporting goods, hobby, musical instrument, and book stores market size, sporting goods, hobby, musical instrument, and book stores market share, prominent players and their strategies.

The Table Of Content For The Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Include:
1. Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Executive Summary
2. Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Segments
3. Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Size And Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Growth Rate
4. Key Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Trends
5. Major Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Drivers
……
25. Key Mergers And Acquisitions In The Sporting Goods, Hobby, Musical Instrument, and Book Stores Market
26. Top Sporting Goods, Hobby, Musical Instrument, and Book Stores Companies
27. Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Opportunities And Strategies
28. Sporting Goods, Hobby, Musical Instrument, and Book Stores Market, Conclusions And Recommendations
29. Appendix

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