PUNE, MAHARASTRA, INDIA, November 8, 2019 /EINPresswire.com/ — Summary:
A new market study, titled “Discover Global Sports Goods Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Global Sports Goods Market
Sports is a stream which is without a doubt, one of the most popular and effective tools to build health, entertainment and a sustainable future for the next generation. Globally, the sports goods market has witnessed a significant growth over the past few years. Rising consumer awareness about health and fitness, increased levels of participation in sport activities and emergence of online shopping are some of the key drivers impelling the growth of sports goods market in the world. U.S. holds the largest share of consumer base in the world for sports goods generating a revenue of over USD 45 Billion annually.
Globally, the sports goods market is anticipated to expand rapidly witnessing a higher momentum and at a record CAGR of 4.1% during the forecast period. The world sports goods market includes equipment for ball sports, fitness, golf, winter sports, adventure sports and other sports equipment, including wheel sports, pogo sticks, archery, billiards, bowling and indoor games. Out of these segments, ball sports hold the largest market share. Increasing media coverage of various global sport events such as the Olympic Games, Commonwealth Games, and FIFA World Cup encourages the youth to participate in sports. The world sports goods market is steadily embracing advanced technologies and adapting modern sports gear to sync in with rapidly changing world sports goods market trends.
Sports is now made a compulsory part of school education by the government bodies across the world to encourage the younger generation to take to sports in a big way. While product development through R&D activities and a rise in e-commerce activities is likely to fuel growth of the world sports goods market, availability of counterfeit products and rising prices of sports goods are restraining the growth of the market.
The Players mentioned in our report Accell Group Acushnet Company Aldila, Inc. Amer Sports Bauer Performance Sports Ltd. Black Diamond Inc. Brunswick Corp. Callaway Golf Co. Compass Diversified Adidas Group AG
Broadly, the world sports goods market is segmented by Product, Distribution Channel and region.
By Product, the market is further split into:
Basis Distribution Channel, the market is further sub-segmented into:
On the basis of region, the world sports goods market is classified into North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Globally, the revenue for sports goods market grew from $61,778.7 million in 2010 to $66,528.8 million in 2013. The market is projected to grow to $81,821.0 million in 2020 expanding at a CAGR of 3.0%. The ball sports goods segment is anticipated to be the attractive segment during the forecast period, expected to grow at a CAGR of 3.6% and reach $21,778.6 million by 2020 from an estimated $17,592.6 million in 2014.
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Source: EIN Presswire