Global Sports Equipment and Apparel Market (2020 to 2027) - by Product Type, Sports Type and Distribution Channel - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Sports Equipment and Apparel Market by Product Type, Sports Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

Sports equipment are the utility equipment essential for engaging in sports activity and aid meet the rules and regulations of particular sport. In addition, these equipment and apparel are essentials that enhance the performance of athletes.

The sports equipment industry is rapidly evolving, owing to increase in adoption of emerging sports technologies and latest trends among youth population. Introduction of innovative products is the medium for manufacturers to sustain in the competitive market, attract new consumer, and cater to the requirements of the existing consumers. Furthermore, an increase in the fan base of popular sport events such as the Olympics, Indian Premier League, FIFA, and others fuels the demand for sports equipment and apparels, which in turn drives the growth of the market. Moreover, a rise in popularity of sport and fitness activities among the youth propels the overall market growth.

However, increase in preference for indoor activities such as playing videogames and rise in use of smartphones among youth due to increase in internet penetration adversely affect market growth. In addition, proclivity of consumers toward other leisure activities such as virtual reality gaming, watching movies, live music shows, and others restraints the growth of the market. Moreover, the seasonality of sports increases the preference for other leisure activities and makes way for seasonal purchases, which aids market growth.

The global sports equipment and apparel market is segmented on the basis of product, sports type, distribution channels, and region. Based on product type, the market is categorized into equipment and apparel and shoes. By sports type, it is classified into bike, outdoor, tennis, other racket sports, running, fitness, football/soccer, other team sports, winter sports, watersports, and others. In terms of distribution channels, it is divided into online and offline. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and rest of the World.

Key Benefits

• The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2018-2026.
• Porter's five forces analysis highlights the potency of the buyers and supplier's tenable stakeholder's make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the size and segmentation assists in determining the prevailing market opportunities.
• The major countries in each region are mapped according their revenue contribution the industry.
• The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the sports equipment and apparel industry.

Key Findings

• The sports equipment and apparel market was valued at $470,403.0 million in 2019 and is estimated to reach $817,169.4 million by 2026, growing at a CAGR of 7.2% through the forecast period.
• Based on product type, the equipment segment would witness the fastest growth, registering a CAGR of 7.2% during the forecast period.
• Based on sports type, the others segment held the highest share in 2019, accounting for nearly one-fifth of the global market share.
• Based on the distribution channel offline segment was the most prominent market in 2019 and is expected to grow at a significant CAGR throughout the forecast period.
• U.S. was the dominant country in 2018, accounting for a considerable share in the globalSports Equipment and Apparel market

Market Dynamics

Drivers

• Increase in Sports and Fitness Awareness Across the World
• Government Initiatives Towards Sports Activities and Events

Restraints

• Rise in Terrorism and Political Influence on Sports Events
• Increase in Proclivity of Kids in Indoor Leisure Activities

Opportunities

• Increase in Contribution by Various Organizations Towards Donation
• Rapid Growth of Online Retail Platform
  

Companies Mentioned

• Decathlon S.A.
• Nike Inc.
• Adidas AG
• Puma SE
• Under Armour Inc.
• Amer Sports Corporation
• ASICS Corporation
• Gap Inc.
• V.F. Corporation New Balance Inc
  

For more information about this report visit https://www.researchandmarkets.com/r/hy0ayu