Global Sporting and Athletic Goods Market on a Robust Growth Trajectory
Sporting And Athletic Goods Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company's Sporting And Athletic Goods Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
LANDON, GREATER LANDON, UK, November 29, 2023 /EINPresswire.com/ -- The global sporting and athletic goods market is set for robust growth, with the market size projected to increase from $165.28 billion in 2022 to $179.1 billion in 2023, marking a commendable Compound Annual Growth Rate (CAGR) of 8.4%. Further, the sporting and athletic goods market is expected to reach $238.89 billion by 2027, sustaining a CAGR of 7.5%.
Key Driver: Steady Economic Growth
The sporting and athletic goods manufacturing market is poised to benefit from anticipated steady economic growth in developed and developing countries. According to the International Monetary Fund (IMF), global GDP growth reached 3.3% in 2020 and is projected to maintain a growth rate of 3.4% in 2021. Recovering commodity prices and stable growth forecasts for the US economy are significant factors contributing to economic expansion. Additionally, emerging markets are expected to outpace developed markets in growth, driving public and private investments, joint ventures, and foreign direct investments in end-user markets.
For a deeper understanding and strategic insights, refer to our comprehensive sample report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2914&type=smp
Major Market Players Shaping the Landscape
Prominent companies playing a pivotal role in the sporting and athletic goods market include Decathlon S.A, Amer Sports Corporation, Callaway Golf Company, Nike, Inc., Adidas AG, Puma SE, Globeride, Inc., Newell Brands Inc., YONEX Co., Ltd., and Mizuno Corporation.
Innovative Trend: Additive Manufacturing Revolutionizes the Industry
Additive manufacturing is emerging as a transformative trend in the competitive sports goods industry. This process involves building three-dimensional objects by adding successive layers of material based on digital models. The sports goods industry, with its rapidly changing customer demands and performance requirements, benefits from additive manufacturing's efficient approach to rapid prototyping. For instance, Asics Corporation, a Japanese sports equipment and sportswear company, is set to launch ACTIBREEZE in July 2022. ACTIBREEZE, featuring a groundbreaking geometric structure enabled by a parametric design method and advanced 3D printing technology, represents an innovative 3D printed sandal designed to support recovering athletes. This structure delivers exceptional comfort and protection, showcasing the potential of additive manufacturing in the sports industry.
Regional Dynamics: Asia-Pacific Leads the Charge
In 2022, Asia-Pacific emerged as the largest region in the sporting and athletic goods market, with Western Europe securing the second-largest share.
Comprehensive Market Segmentation for Targeted Insights
The global sporting and athletic goods market is segmented –
1) By Type: Fishing Equipment, Skating And Skiing Equipment, Golf Equipment, Other Sporting Equipment
2) By Distribution Channel: Online Stores, Speciality Stores, Convenience/Departmental Store, Other Distribution Channels
3) By Material: Plastics, Wood, Metal, Other Materials
For comprehensive insights into market dynamics and future trends, please refer to the complete report:
https://www.thebusinessresearchcompany.com/report/sporting-and-athletic-goods-global-market-report
Sporting And Athletic Goods Global Market Report 2023from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Sporting And Athletic Goods Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on sporting and athletic goods market size, sporting and athletic goods market drivers and trends, sporting and athletic goods market major players, sporting and athletic goods market competitors' revenues, sporting and athletic goods market positioning, and sporting and athletic goods market growth across geographies. The sporting and athletic goods market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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