LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global gymnastic equipment market to have an incremental growth of USD 73.7 million during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.
The increasing popularity of e-commerce channels is one of the major trends being witnessed in the global gymnastic equipment market 2019-2023. The online sales of gymnastic equipment have witnessed significant growth over the past decade due to the retailers and manufacturers efforts toward educating customers, streamlining the online retail process, and providing better aftersales services and targeted marketing campaigns. The growing penetration of smartphones and the internet worldwide will further increase the sales of gymnastic equipment through online portals, thus, driving the market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global gymnastic equipment market is the increased awareness about healthy lifestyle:
Global gymnastic equipment market: Increased awareness about healthy lifestyle
The prevalence of sedentary behavior and physical inactivity exposes individuals to various health conditions such as anxiety, obesity, type 2 diabetes, and osteoporosis. Hence, individuals are increasingly adopting a healthy lifestyle. Also, social media helps create awareness about healthy lifestyle and the ways to achieve it through various fitness and training sports such as gymnastics, which, in turn, creates demand for gymnastic equipment.
According to a senior analyst at Technavio, “Gymnastics offers several benefits such as better coordination and body awareness and increased strength of abdominal muscles. Strengthening these muscles can help relieve back pain, which is often found in today’s generation. Also, flexibility can help prevent injuries and everyday aches and pains. Gymnastics provides flexibility to the athlete when compared with other sports.”
Global gymnastic equipment market: Segmentation analysis
The global gymnastic equipment market research report provides market segmentation by distribution channel (DTC, modern trade, online and VAR) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest size of the market in 2018, accounting for USD 163 million. It was followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the increased awareness about healthy lifestyle and rise in childhood obesity.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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