Sports Equipment And Apparel Market Projected To Reach Approximately $817.17 Billion By 2027: Allied Market Research

According to the report, the global sports equipment and apparel industry garnered $470.40 billion in 2019, and is estimated to reach $817.17 billion by 2027, registering a CAGR of 7.2% from 2020 to 2027.

Prime determinants of growth

Rise in sports and fitness awareness worldwide, increase in expenditure on sports training and development among children, and surge in state, national, and international level competitions organized by different governments drive the growth of the global sports equipment and apparel market. However, rise in inclination of kids toward indoor leisure activities along with political influence on sports events hinder the market growth. Contrarily, inclination toward outdoor activities including adventure sports and outings to break the monotony of daily life and rise of online retail platform create new opportunities in the coming years.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/4618

Leading market players

  • 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.

The equipment segment to dominate in terms of revenue during the forecast period

Based on product type, the equipment segment contributed to the largest market share in 2019, holding more than half of the global sports equipment and apparel market, and is estimated to continue to dominate in terms of revenue during the forecast period. Moreover, this segment is projected to witness the highest CAGR of 7.2% from 2020 to 2027. This is attributed to surge in investments of consumers on sports equipment. The report also offers a detailed analysis of the apparel & shoes segment.

Request For Customization: https://www.alliedmarketresearch.com/sports-equipment-and-apparel-market

The offline segment to maintain its lead status throughout the forecast period

Based on distribution channel, the offline segment accounted for more than three-fourths of the global sports equipment and apparel market in 2019, and is estimated to maintain its lead status throughout the forecast period. Moreover, this segment would register the highest CAGR of 7.2% during the forecast period. This is due to attractive offers available in the physical stores along with option to try equipment and apparel on the spot. The research also analyzes the online segment.

North America to maintain its dominant share by 2027

Based on region, North America held more than one-fourth of the global sports equipment and apparel market in 2019, and is estimated to maintain its dominant share by 2027. This is attributed to increase in inclination of consumers in outdoor activities that boosts launch of new sports apparel along with availability of trendy and fashionable apparel. However, Asia-Pacific is projected to maintain the highest CAGR of 10.1% from 2020 to 2027, owing to surge in purchasing power of consumers and increase in marketing initiatives such as big marketing campaigns and celebrity endorsements.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/4618

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Leave a comment

Your email address will not be published.