As per newly released data by Future Market Insights (FMI), the sports and leisure equipment retailing market is estimated at USD 332.5 billion in 2023 and is projected to reach USD 624.1 billion by 2033, at a CAGR of 6.5% from 2023 to 2033.
The global emphasis on health and wellness has sparked a surge in interest in sports and fitness activities. Individuals are increasingly conscious about their well-being. This heightened awareness leads to a greater demand for sports equipment and gear. Retailers that align their product offerings with these health and wellness trends are well-positioned in the market. They have the opportunity to capture a larger share of the market.
As disposable incomes continue to rise, consumers have more financial freedom. They can allocate funds toward sports and leisure pursuits. With increased purchasing power, individuals can afford sports equipment and gear. This, in turn, drives the demand for retail products within this market segment.
The recognition of the physical and mental health benefits of outdoor activities, such as hiking, camping, and adventure sports, has led to an upsurge in demand for related equipment. People are seeking gear that enables them to explore and engage in outdoor pursuits, driving the market growth.
The rise of e-commerce has transformed the retail industry, including sports and leisure equipment. Nowadays, consumers favor buying things online for its ease. Online platforms allow them to compare prices, read reviews, and make purchases from the comfort of their homes. Retailers can leverage e-commerce platforms to reach a broader customer base and provide personalized shopping experiences.
Online shopping is likely to continue to dominate over in-store shopping, increasing its market share. More than 40% of consumers in the sports retailing industry choose to purchase their sporting goods online. It is crucial for retailers to establish an e-commerce platform, especially considering the ongoing market share growth of aggregators like Amazon, eBay, and Alibaba.
There are no signs that the current trend could reverse. The convenience of home delivery, the availability of detailed product information, and the ability to shop anytime, day or night, are significant factors driving this trend.
The sports and leisure equipment sector has witnessed remarkable technological advancements. These advancements have revolutionized the industry. Innovative products such as advanced fitness trackers, smartwatches, and cutting-edge gear have captured the attention of consumers. Consumers seek to enhance their sporting experiences through these products. Retailers that offer state-of-the-art products can leverage this demand.
| Attributes | Details |
|---|---|
| Historical Value (2022) | USD 331.4 billion |
| Current Year Value (2023) | USD 332.5 billion |
| Expected Forecast Value (2033) | USD 624.1 billion |
| Historical CAGR (2018 to 2022) | 3.5% |
| Projected CAGR (2023 to 2033) | 6.5% |
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The size of the world market for sports and leisure equipment was very strong in 2022, and over the forecast period, it is anticipated to grow quickly in terms of revenue CAGR.
Some of the key factors anticipated to propel market revenue growth over the forecast period include an increase in the number of obese people, an increase in the prevalence of various chronic diseases linked to lifestyle choices, and a rise in consumer preference for and importance of fitness, particularly among millennials.
Sports and leisure activities are crucial for maintaining a population with a healthy lifestyle and level of physical fitness. Clothing, tools, materials, balls, nets, and safety equipment including helmets and guards are just a few examples of the equipment used for sports and recreation. Due to the significance of fitness and to improve protection and appearance when participating in or competing in sports, the use of this equipment is on the rise.
The global sporting goods and accessories market is growing strongly, characterized by the rapid adoption of new technologies and openness to changing trends. The industry is very thriving in e-commerce. E-commerce has become a popular retail medium these days and also offers consumers the benefit of comparing all available sporting goods brands. It is a one-stop shop for all sports accessories and equipment, which in turn enhances its marketability in the global sports equipment market.
The percentage of people choosing healthy lifestyles has significantly increased globally, and consumer involvement in various sporting activities has expanded due to the desire to stay fit. Consumers are increasingly looking for diverse sports and leisure gear, particularly for sports, in keeping with the athlete trend. The industry has been driven in recent years by a rise in government efforts in many nations intended to boost sports participation.
The increasing number of sporting activities and tournaments at the international and national levels is expected to increase the importance of sports and fitness among the population and drive revenue growth in the market.
Increasing marketing strategies, celebrity gear recommendations, social media promotions, and the production of short films and documentaries on performance through sports, recreation, and fitness are increasing the number of athletes and increasing the demand for sports and recreational equipment. In addition, due to busy lifestyles and busy schedules, home fitness development, home training, etc. are gaining popularity in specialized gyms and gyms.
In addition, increasing urbanization and increasing demand from the population have led to the growth of e-commerce, supermarkets, and sports shops. These key factors have contributed to revenue growth in the global sports and leisure equipment market and are expected to continue to do so during the forecast period.
Principal Consultant
The growth trajectory of industry and retail is unfavorable in several developing economies. The population's income levels have been damaged by the slowdown in industry expansion, which has had a detrimental effect on the retailing of sports and recreation equipment.
In some significant parts of the world, both natural and man-made calamities are stifling the growth of the retailing of sports and leisure equipment. This is because disasters do negatively impact tourism, which greatly influences the utilization of sporting and recreational equipment.
The sporting goods and accessories market is highly competitive with many established players in retail, e-commerce, sporting goods stores and wholesale, and many new startups that frequently participate. We also face negative competition from counterfeit sporting goods and accessories with cheap and low-quality variations.
| Countries | Value CAGR (2023 to 2033) |
|---|---|
| United Kingdom | 10% |
| China | 6% |
| India | 12% |
The United Kingdom holds the highest market share owning the enormous athlete participation and sports atmosphere
The United Kingdom is notable for the diversity of its sporting interest. The country holds a major amount of market portion, owing to the well-penetrated sports environment and enormous athlete participation rate witnessed in the region. Rugby union, golf, football, and tennis are among the most popular sports of the general population in the region.
Fitness Goes Tech in China as Consumers Embrace Smart Sports Equipment
Consumers in China have shown a strong affinity for technology-enabled products in the sports and leisure equipment sector. Wearable devices, smart fitness trackers, and connected sports equipment are increasingly popular. The rapid growth of e-commerce has transformed the retail landscape in China, including the sports and leisure equipment sector.
Online sales channels have gained immense popularity due to their convenience, competitive pricing, and wide product selection. Leading e-commerce platforms such as Alibaba and JD.com have witnessed a surge in sales of sports and leisure equipment. The government has been actively supporting the development of the sports industry. Government initiatives have created a favorable environment for sports and leisure equipment retailers, with increased opportunities for growth and expansion.
India Sports and Leisure Equipment Market Hits a Winning Streak with the Help of E-commerce
The rapid growth of e-commerce has transformed the retail landscape in India. Online platforms offer a wide range of sports and leisure equipment. Apart from e-commerce, sports, and leisure equipment are sold through various distribution channels in India, including exclusive brand stores, multi-brand retailers, and sports specialty stores. The Indian government has launched multiple initiatives to promote sports and fitness among its citizens. Programs like Khelo India aim to develop sporting infrastructure and encourage participation in grassroots sports.
The home fitness segment has witnessed substantial growth in India. Consumers are investing in home gym equipment, including treadmills, exercise bikes, and yoga mats. Indian consumers are becoming more brand-conscious when it comes to sports and leisure equipment. They perceive branded products as offering better quality, durability, and performance.
| Countries | 2022 Value Share in Global Market |
|---|---|
| United States | 7% |
| Germany | 3% |
| Japan | 5.5% |
The demand for sports and fitness is rising in the United States as the social acceptance and improved appearance of people in physical and fitness activities
The United States contributes to the demand for fitness and sports activities. Furthermore, the growing importance of social acceptance and the need for improved appearance among consumers, and participation in sports, leisure, and fitness activities promote the acceptance of sportswear in the region and is expected to drive the sales growth of the sports and leisure equipment market over the forecast period.
Germany Sports and Leisure Equipment Retailing Market Surges amidst Active Outdoor Lifestyle
Germany has a well-established sports and leisure culture, with a large portion of the population actively participating in various sports and outdoor activities. With a rising focus on health and fitness, consumers are increasingly engaging in activities like running, yoga, and fitness training. This has resulted in a surge in demand for sports equipment, fitness wearables, and accessories.
There has been a noticeable increase in the demand for fitness equipment, including home gym setups and wearable fitness devices. Germany is known for its love of outdoor activities such as hiking, cycling, and camping. This active lifestyle contributes to the demand for sports and leisure equipment designed for outdoor pursuits.
Japan's Love for Traditional Sports Inspires Demand for Authentic Equipment
A strong affinity for sports and leisure activities, along with a growing health-conscious population, has driven the Japan sports and leisure equipment retailing market. Japan has a rich cultural heritage of traditional sports such as sumo wrestling, martial arts (karate, judo), and archery (kyudo).
These traditional sports have a significant following, and the associated equipment and merchandise hold value for enthusiasts. Anime and manga have a massive fan base in Japan. Many popular series feature sports themes, leading to increased interest in related equipment. For example, the success of the manga and anime series Haikyuu!! has boosted the demand for volleyball-related merchandise.
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| Segment | 2022 Value Share in Global Market |
|---|---|
| Equipment | 21% |
| Outdoor | 26% |
Online Channels are mostly preferred as it is the most accessible and convenient platforms
Based on the distribution channel, online channels are one of the fastest-growing distribution channels in the sporting goods and apparel industry. Consumers prefer online platforms because of their accessibility and convenience. The platform offers a variety of discounts when buying online to attract more customers.
The advent of advanced technology is driving the growth of online channel businesses around the world. In addition, online sales contribute significantly to the profitability of companies doing business in the market. Leading players in the market are increasingly working with online channel sites to increase their exposure in the market.
The equipment Type holds the highest share in the product type segment as the consumers are spending more on sportswear and equipment
By product type, the equipment segment has the highest market share and is expected to maintain its dominance in forecasting the sports equipment and apparel markets. Consumers are spending more and more on athletic clothing and related equipment, with athletic clothing and accessories accounting for the majority of their spending.
Due to the presence of many established market players, the equipment segment remains very competitive. The equipment market is very thriving thanks to e-commerce, a popular retail medium these days, with the added benefit of allowing consumers to compare all available sports equipment brands.
In sports type, the outdoor sports sector is flourishing as the consumers are increasingly drawn to outdoor experiences
Outdoor sports such as hiking, camping, cycling, running, and water sports have experienced a remarkable surge in popularity. A profound emphasis on health and wellness has taken hold worldwide. Outdoor sports provide invaluable opportunities for physical exercise, stress relief, and mental rejuvenation. The advent of social media platforms has played a pivotal role in promoting outdoor sports. Influencers and passionate outdoor enthusiasts frequently showcase their adventures, equipment, and gear on platforms such as Instagram, YouTube, and Facebook.
This widespread exposure generates substantial interest and inspires others to actively participate in outdoor activities. This, thereby, propels the demand for sports and leisure equipment associated with outdoor sports. The rise of adventure tourism and experiential travel has also significantly contributed to the dominance of outdoor sports in the market.
The market is highly fragmented and consists of regional and international competitors. It is dominated by players such as Adidas AG, Amer Sports, Puma SE and Under Armor. Major companies are focusing on digital and social media advertising to alert consumers to new product launches. In addition, key players are using online sales channels for online marketing and product branding to expand their geographic reach and expand their customer base.
For instance:
Online Channels are mostly preferred.
Daiwa Seiko, New Balance, Quicksilver are prominent market players.
The industry is forecast to register a CAGR of 6.5% through 2033.
The industry will be valued at USD 624.1 billion by 2033.
Germany market surges amidst active outdoor lifestyle.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Equipment 5.2. Apparel and Shoes 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User 6.1. Men 6.2. Women 6.3. Children 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sports Type 7.1. Bike 7.2. Outdoor 7.3. Tennis 7.4. Other Racket Sports 7.5. Running 7.6. Fitness 7.7. Football/Soccer 7.8. Other Team Sports 7.9. Winter Sports 7.10. Water Sports 7.11. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 8.1. Supermarkets/Hypermarkets 8.2. Speciality Stores 8.3. Online Retail Stores 8.4. Other Distribution Channels 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Adidas AG 19.2. Amer Sports 19.3. PUMA SE 19.4. Billabong International Colombia Sport 19.5. Daiwa Seiko 19.6. New Balance 19.7. Quicksilver 19.8. Under Armour, Inc 19.9. Yonex Co. Limited 19.10. Callaway Golf Co. 20. Assumptions & Acronyms Used 21. Research Methodology
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Sports and Leisure Equipment Retailing Market
