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What Is the Forecasted Revenue Growth of the Sporting And Athletic Goods Market Over the Next Decade?

The market for sporting and athletic goods has seen consistent growth over the past few years. The market value, which is set to be $133.55 billion in 2024, is projected to increase to $140.06 billion in 2025, representing a compound annual growth rate (CAGR) of 4.9%.

The market size for sports and athletic products is predicted to experience significant growth in the approaching years. It is set to expand to $173.93 billion by 2029, with a compound annual growth rate (CAGR) of 5.6%. This predicted growth during the forecast period could be due to a rise in sustainable practices, an increasing emphasis on health and wellness, customized and personalized products, the growth of the athleisure market, an increase in sports activities among the youth, and the influence of social media. Key trends anticipated in the forecast period comprise the integration of smart sportswear, the use of augmented reality (AR) in sports coaching, subscription-based models for sports equipment, sportswear design focused on females, and advancements in footwear technology.

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What Are the Core Drivers Influencing Growth in the Sporting And Athletic Goods Sector?

Many developed and developing nations are predicted to see steady economic growth, which will positively affect the sporting and athletic goods manufacturing market. The International Monetary Fund (IMF) claims that global GDP growth reached 3.3% in 2020 and will reach 3.4% in 2021. Economic growth is further anticipated to be driven by recovering commodity prices, after a significant decrease during the historic period. Stable growth is anticipated in the US economy over the forecast period.

Furthermore, during this same period, emerging markets are predicted to grow slightly faster than their developed counterparts. Higher levels of economic growth will likely inspire both public and private sector investment, as well as joint ventures and foreign direct investments in end-user markets. These factors combined are expected to drive the growth of the market over the forecast period.

What Type-Based Segments Dominate the Sporting And Athletic Goods Industry?

The sporting and athletic goods market covered in this report is segmented -

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 Or Departmental Store, Other Distribution Channels

Subsegments:

1) By Fishing Equipment: Fishing Rods, Fishing Reels, Tackle and Bait, Fishing Lines, Fishing Accessories

2) By Skating And Skiing Equipment: Ice Skates, Roller Skates, Skateboards, Ski Equipment (Skis, Boots, Poles), Snowboarding Gear

3) By Golf Equipment: Golf Clubs, Golf Balls, Golf Bags, Golf Apparel, Golf Accessories

4) By Other Sporting Equipment: Team Sports Equipment, Fitness Equipment, Outdoor Sports Gear, Individual Sports Equipment

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What Disruptive Trends Are Reshaping the Sporting And Athletic Goods Industry Landscape?

The surge in the use of additive manufacturing signifies a key trend in the increasingly competitive sporting goods industry. This process, which involves constructing 3D objects from digital models by gradually laying multiple layers of material, is catering to the rapidly evolving demands and performance expectations of customers in this industry. Additive manufacturing offers a streamlined method for swift prototyping, enabling manufacturers to create custom designs in accordance to individual prototypes. Take for instance, in July 2022, Asics Corporation, a Japanese firm known for its sports apparel and athletic equipment production, introduced ACTIBREEZE. This innovative geometric structure, created using a parametric design procedure and avant-garde 3D printing technology, is incorporated into a unique 3D printed sandal design intended to aid in the recovery of athletes, providing remarkable comfort and protection to the wearer.

Who Are the Top Innovators in the Global Sporting And Athletic Goods Industry?

Major companies operating in the sporting and athletic goods market include Nike Inc., Adidas AG, Decathlon S.A., Russell Athletic LLC, Anta Sports Products Limited, Skechers USA Inc., Under Armour Inc., New Balance Athletics Inc., Callaway Golf Company, Li-Ning Company Limited, ASICS Corporation, Columbia Sportswear Company, Fila Holdings Korea Ltd., Amer Sports Corporation, Mizuno Corporation, The North Face Inc., Patagonia Inc., YONEX Co. Ltd., Skis Rossignol S.A., K-Swiss Inc., Derby Cycle Corporation

What Are the Top-Performing Regions in the Sporting And Athletic Goods Market Outlook?

Asia-Pacific was the largest region in the sporting and athletic goods market in 2024. 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.

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Comprehensive Report Reviews the Emerging Trends in Sporting And Athletic Goods Market: Competitive Landscape and Forecast to 2029