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Global Sporting Goods Market

Date:21-10-2013

Any equipment that is used for sports or sport-related activities are known as sporting goods. These include balls, racquets, bats, clubs, nets, footwear, apparel and protective equipment. The global market for sporting equipment is growing steadily and currently it is a strong 150 billion USD industry. According to industry analysts the market for sporting goods is estimated to increase at a CAGR of 4% over the next six years. By 2017, the market will expand to a value of around 266 billion USD.

In future there is likely to be strong demand in three market sectors, namely athletic apparel, footwear and equipment. Demands in these three market segments will provide opportunity for growth, particularly for sporting goods suppliers. The sporting goods industry is highly fragmented and presently the North American region dominates the retail sporting goods industry. However, with continued economic growth in the Asia Pacific region, it is believed that a huge chunk of sales will be from this region. Sales of sporting goods are influenced by a number of factors. These include increase in population, economic health of a region, rising awareness about fitness and increased participation in sporting activities.

Adidas AG, Nike, Amer Sports Corp., Dick’s Sporting Goods, Glayan’s Trading Company and Callaway Golf are the key players in this highly competitive sports equipment market. The largest sporting equipment companies in US include The Sports Authority, Hibbett Sports, Cabela’s, REI and Big 5. At present, US dominate global sales in sporting goods and accounts for nearly 41% of the market share in terms of sales. As far as industry revenue is concerned, 65% of revenue is from the sales of sports equipment, 20% from clothing and 10% from footwear.

Increase in income and rise in living standards are fueling the demand for sports equipment. To grow and thrive in the market, sporting companies need to focus on their marketing skills and increase their product range.

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