Sports & Leisure Equipment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Sports & Leisure Equipment Market Analysis
- The sports and leisure equipment market is projected to register a CAGR of 4.5% over the next five years.
- The booming enthusiasm for country-level and international tournaments is gaining tremendous followers worldwide. It is leading to a large number of athlete admissions every year, which is, therefore, propelling the demand for associated businesses, including sports and leisure equipment.
- The prominence of sports activities, especially ball sports, owing to health and wellness trends, the increasing influence of social media, and celebrity endorsement, encourage consumers to buy various sports equipment. For instance, according to Sport England, as of May 2021, approximately 61.5% of people in London participated in sporting activities with at least moderate intensity for more than 150 minutes a week.
- Additionally, several people are motivated to develop a home fitness routine coupled with an increasing preference for customized workout regimes (including workout timing) and a comfortable home-friendly environment, increasing the demand for sports and leisure equipment.
- Furthermore, owing to the increased working population worldwide, people increasingly participate in different sports activities to maintain their health and stay fit.
- For instance, according to NITI Aayog, over 522 million people were estimated to be employed across India in 2022, an increase from the previous financial year in which 516.6 million people were employed. By distribution channel although online retailing has remained a considerably stable distribution channel for the sales of sports equipment in the past, it is expected to gain more prominence in the future due to the associated convenience.
- However, specialty stores hold the largest share in the present market scenario. Moreover, increasing online retailing, widely spreading distribution channels, and easy availability of such required equipment and necessary courses are expected to boost the market's growth during the forecast period.
Sports & Leisure Equipment Market Trends
This section covers the major market trends shaping the Sports & Leisure Equipment Market according to our research experts:
Increased Sports Participation Rate Owing to Favorable Government Initiatives
- Globally, there has been a significant rise in the percentage of the population adopting a healthy lifestyle, and the preference for staying fit has increased consumer indulgence in various sports activities. In line with the athleisure trend, consumers increasingly seek various sports and leisure equipment, especially ball sports.
- For instance, according to the State General Administration of Sports (China), as of December 2021, there were approximately 2.48 million ball game courts across China. Basketball courts ranked first in terms of numbers, amounting to more than a million, followed by table tennis courts and badminton courts.
- Moreover, increased government initiatives in various countries meant to improve sports participation have played a key role in driving the market over the last few years. For instance, in 2020, the Government of Australia announced its plan to invest USD 50.6 million in athletes over the next two years, i.e., 2021 and 2022.
- Similarly, according to NITI Aayog, the Government of India, in recent years, has taken several initiatives, such as Khelo India, TOPS Scheme, etc., to build India as a sporting nation with a great amount of emphasis in the rural areas. Such initiatives are expected to encourage more people to indulge in various outdoor sports, which, in turn, is expected to increase sports equipment sales.
Europe Holds Significant Share in the Market
- Europe holds a significant amount of market share, owing to the well-penetrated sports environment and enormous athlete participation rate witnessed in the region. Countries such as the United Kingdom are notable for the diversity of their sporting interest. Rugby union, golf, football, and tennis are among the most popular sports of the general population in the region.
- For instance, according to David Lange, in 2021, nearly 40.7% of male adults and roughly 31.7% of female people participated in sports every week in England. Apart from sports participation, the favorable weather condition (snowfall) attracts tourists from different parts of the world who indulge in winter sports. This creates a great opportunity for manufacturers involved in marketing equipment and sports garments, such as ski and snowboarding, which is expected to drive market growth in the region.
- To sustain in this competitive market, key players continuously introduce new sports and leisure equipment, take innovative initiatives, and try to differentiate in price, functionality, size, weight, and post-sales services. For instance, in July 2022, ASICS announced the launch of the GEL-KAYANO 29 running shoe. The company claimed that through ASICS' advanced technology, the latest GEL-KAYANO 29 is approximately 10g lighter1 than its predecessor. It claimed that the newly launched shoe also features a more energized feel due to the addition of FF BLAST PLUS cushioning in the upper midsole layer, providing a more energized ride at each step. Such innovative offerings by the manufacturers are expected to boost sales further, thus positively impacting the market's growth.
Sports & Leisure Equipment Industry Overview
The market studied is highly competitive and consists of regional and international competitors. Players like Adidas AG, Amer Sports, PUMA SE, and Under Armour dominate it. Other competitors in the market are Billabong International Colombia Sport, Daiwa Seiko, New Balance, and Quicksilver. These companies are focusing on digital and social media advertisements to make consumers aware of new product launches in the market. Key players are embarking on online distribution channels for their online marketing and branding of their products to expand their geographic reach and increase their customer base. Moreover, leading manufacturers in the market are focusing on leveraging opportunities posed by the emerging markets of Asia-Pacific, like Thailand and India, to expand their revenue base.
Sports & Leisure Equipment Market Leaders
Adidas AG
Amer Sports
PUMA SE
Under Armour, Inc
New Balance
*Disclaimer: Major Players sorted in no particular order
Sports & Leisure Equipment Market News
- March 2022: Lululemon launched the Blissfeel running shoe, the first of four shoes it plans to release in women's sizes that year. Also, during the launch, the company announced that in summer 2022, it will launch Chargefeel, a cross-training shoe, in two styles: low-top and mid-top.
- March 2022: Puma extended its partnership with W Series, the international single-seater motor racing championship for female drivers. It signed Finnish driver Emma Kimiläinen for the Puma W Series Team in 2022.
- February 2022: Callaway Golf announced new chrome soft, namely Chrome Soft X and Chrome Soft X LS Golf balls. The company's new unique precision technology is incorporated into new golf ball offerings to provide the tightest dispersion, consistent ball speeds, and overall performance.
Sports & Leisure Equipment Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Ball Sports Equipment
5.1.2 Fitness Sports Equipment
5.1.3 Adventure Sports Equipment
5.1.4 Golf Equipment
5.1.5 Other Types
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Speciality Stores
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channels
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 Germany
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 South Africa
5.3.5.2 United Arab Emirates
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Amer Sports
6.3.2 Nike Inc.
6.3.3 Adidas AG
6.3.4 Puma SE
6.3.5 Groupe Rossignol
6.3.6 Under Armour
6.3.7 Acushnet Holdings
6.3.8 New Balance
6.3.9 ASICSC Corporation
6.3.10 Callaway Golf
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Sports & Leisure Equipment Industry Segmentation
Sporting and leisure equipment are the tools, materials, apparel, and gear used to compete and vary depending on the sport.
The global sports and leisure equipment market is segmented based on type, distribution channel, and geography. By type, the market is segmented as ball sports equipment, fitness equipment market, adventure sports equipment, golf equipment, and other types. By the distribution channel includes supermarkets/hypermarkets, specialty stores, online retail stores, and other distribution channels. By geography, the scope includes North America, Europe, Asia-Pacific, South America, Middle-East, and Africa.
The market sizing and forecasts have been done for each segment based on value (in USD million).
| Type | |
| Ball Sports Equipment | |
| Fitness Sports Equipment | |
| Adventure Sports Equipment | |
| Golf Equipment | |
| Other Types |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Speciality Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Sports & Leisure Equipment Market Research FAQs
What is the current Sports and Leisure Equipment Market size?
The Sports and Leisure Equipment Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in Sports and Leisure Equipment Market?
Adidas AG, Amer Sports , PUMA SE, Under Armour, Inc and New Balance are the major companies operating in the Sports and Leisure Equipment Market.
Which is the fastest growing region in Sports and Leisure Equipment Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Sports and Leisure Equipment Market?
In 2024, the Europe accounts for the largest market share in Sports and Leisure Equipment Market.
What years does this Sports and Leisure Equipment Market cover?
The report covers the Sports and Leisure Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sports and Leisure Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What impact will sustainability concerns have on the Sports & Leisure Equipment Industry?
The impact that sustainability concerns will have on the Sports & Leisure Equipment Industry are a) Focus on eco-friendly materials b) Durable products c) Responsible manufacturing practices
Sports and Leisure Equipment Industry Report
The sports equipment industry is experiencing remarkable growth, driven by a global surge in sports and leisure activities. This expansion is supported by factors such as health and wellness trends, social media influence, and celebrity endorsements, according to a sporting goods industry analysis. The market, which includes ball sports, fitness, golf, and adventure sports equipment, caters to diverse consumer needs through various distribution channels like supermarkets, department stores, sport stores, and e-commerce platforms. The competitive landscape demands innovation and strategic marketing for differentiation. With growth opportunities across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America, the industry's upward trajectory is further fueled by government initiatives, an increasing working population focusing on health, and a rising demand for home fitness and personalized workout regimes. Mordor Intelligence™ Industry Reports provide insights into the sports and leisure equipment market's share, size, revenue growth rate, and forecast outlook, offering a comprehensive overview and free report PDF downloads for in-depth analysis.
