Market Size of Sports and Leisure Equipment Industry
| 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.
