Global Sporting And Athletic Goods Market Report 2024: Size, Drivers, And Top Segments
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How is the Sporting And Athletic Goods Market Expected to Expand from 2024 to 2033?
The market for athletic and sporting goods has been on a robust growth trajectory over recent years. The market, which is projected to escalate from $182.73 billion in 2023 to $198.08 billion in 2024, is expected to experience a compound annual growth rate (CAGR) of 8.4%. Factors contributing to the historic expansion include global sporting events, the surge in fitness and wellness trends, the rise in marketing and endorsements, urbanization and availability of recreational spaces, as well as heightened health and fitness consciousness.
The market size for sports and athletic equipment is forecasted to witness robust expansion in the ensuing years. It is projected to surge to $269.08 billion by 2028, escalating at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth during the forecast period can be credited to the increasing adoption of sustainability measures, the incorporation of health and wellness, customization and personalization trends, expansion of the athleisure market, participation in youth sports, and the effect of social media. Key trends during the forecast period encompass the integration of intelligent sportswear, implementation of augmented reality (ar) in sports training, subscription plans for sports equipment, sportswear designs focused on females, and advancements in footwear technology.
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What Influences Are Propelling the sporting and athletic goods Market Forward?
The manufacturing sector for sports and athletic goods stands to gain from the predicted steady economic growth in several developed and developing nations. As informed by the International Monetary Fund (IMF), there was a global GDP growth of 3.3% in 2020 and a projection of 3.4% in 2021. The rebound of commodity prices following a reduction in historical periods is also anticipated to act as a major driver for economic surge. The US economy is set for stable growth during the projected period. Meanwhile, emerging markets are expected to sustain a slightly quicker growth than the developed markets in the same timeframe. A more robust economic growth can spur private and public investments, alliances, and foreign direct ventures in the ending-user markets, thereby promoting the market during the forecast period.
What Key Segments Exist Within the Sporting And Athletic Goods Market?
1) By Type: Fishing Equipment, Skating And Skiing Equipment, Golf Equipment, Other Sporting Equipment
2) By Material: Plastics, Wood, Metal, Other Materials
3) By Distribution Channel: Online Stores, Specialty Stores, Convenience/Departmental Store, Other Distribution Channels
What Trends Are Coming to the Forefront in the Sporting And Athletic Goods Market?
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What Regions Are Leading the Charge in the Sporting And Athletic Goods Market?
Asia-Pacific was the largest region in the sporting and athletic goods market in 2023. Western Europe was the second largest region in the sporting and athletic goods market. The regions covered in the sporting and athletic goods market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Sporting And Athletic Goods Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the sporting and athletic goods market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Sporting And Athletic Goods Market Include
1. Sporting And Athletic Goods Market Executive Summary
2. Sporting And Athletic Goods Market Segments
3. Sporting And Athletic Goods Market Size And Template Market Growth Rate
4. Key Sporting And Athletic Goods Market Trends
5. Major Sporting And Athletic Goods Market Drivers
……
25. Key Mergers And Acquisitions In The Sporting And Athletic Goods Market
26. Top Sporting And Athletic Goods Companies
27. Sporting And Athletic Goods Market Opportunities And Strategies
28. Sporting And Athletic Goods Market, Conclusions And Recommendations
29. Appendix
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