Sporting And Athletic Goods Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Sporting and athletic goods refer to technical fabrics that keep the wearer at ease while exercising. The level of activity and exercise will determine the sort of clothing needed, including ball gloves and helmets. They are used to produce sporting and athletic goods, except clothing and footwear.

Sizing and Forecast
The sporting and athletic goods market size has grown strongly in recent years. It will grow from $182.73 billion in 2023 to $198.08 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%.  The  growth in the historic period can be attributed to global sporting events, fitness and wellness boom, growth in marketing and endorsements, urbanization and recreational spaces, health and fitness awareness.

The sporting and athletic goods market size is expected to see strong growth in the next few years. It will grow to $269.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.  The growth in the forecast period can be attributed to growing sustainability practices, health and wellness integration, customization and personalization, athleisure market growth, youth sports participation, social media influence. Major trends in the forecast period include smart sportswear integration, augmented reality (ar) in sports training, subscription models for sports gear, female-centric sportswear design, innovations in footwear technology.

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Segmentation & Regional Insights
The sporting and athletic goods market covered in this report is segmented –
1) By Type: Fishing Equipment, Skating And Skiing Equipment, Golf Equipment, Other Sporting Equipment      
2) By Material: Plastics, Wood, Metal, Other Materials
3) By Distribution Channel: Online Stores, Speciality Stores, Convenience/Departmental Store, Other Distribution Channels       

Asia-Pacific was the largest region in the sporting and athletic goods market in 2023. Western Europe was the second largest region in the sporting and athletic goods market. The regions covered in the sporting and athletic goods market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The sporting and athletic goods manufacturing market is expected to benefit from steady economic growth forecasted for many developed and developing countries. The International Monetary Fund (IMF) stated that the global GDP growth was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, and foreign direct investments in the end-user markets, thereby driving the market during forecast period.

Key Industry Players
Major companies operating in the sporting and athletic goods market report are Christian Dior SE, The Procter & Gamble Company, Nike Inc., The Michelin Group, Bridgestone Corporation, Adidas AG, WestRock Company LLC, International Paper Company, Kimberly-Clark Corporation, Decathlon S.A., Russell Athletic LLC, Anta Sports Products Limited, Skechers USA Inc., Under Armour Inc., New Balance Athletics Inc., Rajesh Exports Ltd., Callaway Golf Company, Li-Ning Company Limited, ASICS Corporation, Columbia Sportswear Company, Fila Holdings Korea Ltd., Amer Sports Corporation, Mizuno Corporation, The North Face Inc., Patagonia Inc., YONEX Co. Ltd., Skis Rossignol S.A., K-Swiss Inc., Performance Sports Group Ltd., Derby Cycle Corporation

The sporting and athletic goods market report table of contents includes:
1. Executive Summary

2. Sporting And Athletic Goods Market Characteristics

3. Sporting And Athletic Goods Product/Service Analysis -Product/Service Examples

4. Sporting And Athletic Goods Market Trends And Strategies

5. Sporting And Athletic Goods Market - Macro Economic Scenario

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68. Global Sporting And Athletic Goods Market Competitive Benchmarking

69. Global Sporting And Athletic Goods Market Competitive Dashboard

70. Key Mergers And Acquisitions In The Sporting And Athletic Goods Market

71. Sporting And Athletic Goods Market Future Outlook and Potential Analysis

72. Appendix

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