Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Sporting Goods Market size was valued at USD 758.33 billion in 2024 and is set to exceed USD 2.24 trillion by 2037, expanding at over 8.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of sporting goods is evaluated at USD 814.41 billion.
The market is growing due to the growing sports industry across the globe. Around the world, there is evidence that sports are a thriving sector that is rapidly expanding globally with the rapid advancement of technology, shifting consumer behaviors, and shifting demographics. For instance, globally, the sports industry is predicted to expand by over 9% between 2022 and 2027, reaching a market size of around USD 4 billion by that year.
The growing advancements in sporting goods are believed to fuel the sporting goods market growth. GPS (Global Positioning System) monitoring in the sports sector has developed into an invaluable resource for players, coaches, and spectators as it aids in tracking motions and performance evaluation for athletes and tracking metrics including heart rate, distance traveled, and speed which helps athletes set objectives and pinpoint areas for growth.
Sporting Goods Sector: Growth Drivers and Challenges
Growth Drivers
- Growing youth population - Sport offers young people an engaging way to develop their skills, take chances, and accomplish their goals, and has the potential to improve the health of youth. According to the United Nations, more than 1.2 billion young people in the world are between the ages of 15 and 24, making up about 16% of the total population. Sports have become increasingly important as a means of maintaining health because the sedentary habits of the younger generation have resulted in several lifestyle disorders. Sports-related awareness is growing in the industry, and customers are becoming more interested in new trends like athletic and casual apparel. There are great prospects for market expansion as a result of individuals turning to sports as a healthier lifestyle due to urbanization and increased disposable budgets.
- Increasing focus on sustainability - The sporting goods market is always changing owing to rising sustainability, changing channel preferences, and growing health consciousness therefore, biodegradable and recyclable composites made from renewable resources such as hemp, flax, and bamboo are being used by manufacturers more frequently since they lessen their carbon footprint and encourage sustainability.
- Surging importance of health and fitness - The market for sporting goods is poised for growth as people become more conscious of their general health and fitness. According to data from the Bureau of Labor Statistics, 16 percent of Americans who are 15 years of age and older participate in sports, showing a growing demand that is likely to continue. The growth of the sports equipment business is further aided by the popularity of licensed items, hence supporting market.
- Rising popularity of e-commerce - The sports sector has been heavily impacted by e-commerce, particularly since younger consumers are making more online purchases. Also, social media continues to be a potent tool for influencers and digital communities to encourage closer links between companies and their clients, and major participants in the market are embracing this expanding trend. For instance, global retail e-commerce revenues reached over USD 5 trillion in 2023.
Challenges
- Presence of fake products - Sports items that are counterfeit frequently pose a risk to their users as they are constructed from inferior materials that lack thorough quality inspections and are known to cost firms millions and even billions of dollars over time. Customers' ignorance of the existence of counterfeit sporting goods is another factor contributing to the malpractice of sports goods counterfeiting, therefore the sports and fitness sector needs anti-counterfeiting measures since fake goods can seriously endanger the health of customers. For instance, on e-commerce platforms between 40 and 55% of sports goods are fake.
- Supply chain disruptions owing to several factors can impact the distribution of sporting goods
- Stringent regulatory standards may increase the complexity and cost of the goods, thereby hindering the sporting good market’s revenue.
Sporting Goods Market: Key Insights
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
8.7% |
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Base Year Market Size (2024) |
USD 758.33 billion |
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Forecast Year Market Size (2037) |
USD 2.24 trillion |
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Regional Scope |
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Sporting Goods Segmentation
Product (Adventures Sports, Ball games, Fitness/Strength equipment, Athletic training equipment)
In sporting goods market, ball games segment is poised to dominate over 48% share by 2037. The segment growth can be attributed to the growing participation in ball games. People have engaged in various forms of gaming such as baseball, basketball, football, soccer, and tennis ball the goal of games is to participate, not to win since it improves hand-eye coordination, muscle growth, and overall fitness.
Ball games have been an integral part of human culture and recreation captivates individuals of all ages around the world. These games inherently foster social interaction and community engagement by bringing people together and fostering a sense of belonging and unity among participants. Participation in ball games offers numerous physical health and fitness benefits and helps individuals maintain healthy body weight, reduce the risk of chronic diseases such as obesity, diabetes, and cardiovascular ailments, and also enhance reflexes, balance, and motor skills.
They play a significant role in enhancing mental well-being and cognitive development whereby participants learn to anticipate opponents' moves, adapt to changing game situations, and collaborate effectively with co-players. For instance, in England, the number of basketball players rose by over 22% in 2022 compared to the year before. Sports balls are a necessary piece of sporting goods for participating in sports and are utilized at all levels of competition, where every ball has a different weight, size, and design made with various materials, depending on the specifications of the particular game. In addition, a large selection of fitness equipment for functional, cardio, and strength training is available for people who are trying to be in better shape or shed some pounds.
Distribution Channel (Hypermarket/Supermarket, Convenience/Departmental Store, Specialty Store, Online Stores)
In sporting goods market, specialty store segment is estimated to account for around 40% revenue share by 2037. Specialty stores include sporting goods stores which maintain a small range of products yet offer a wide variety of sportswear and equipment for outdoor enthusiasts as well as sportsmen.
These stores have a wide range of products, such as basketballs and camping tents, and competent employees who are constantly happy to assist clients in finding the ideal equipment for their requirements. Additionally, a large selection of sporting products are available at supermarkets which use a variety of marketing techniques to increase its fan base.
Our in-depth analysis of the global market includes the following segments:
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Product |
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End-user |
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Distribution Channel |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Sporting Goods Industry - Regional Synopsis
North America Market Statistics
North America industry is anticipated to hold largest revenue share of 35% by 2037. The market growth in the region is also expected on account of its vast population and affluent status. Also, the United States spends much more per child on sports than it does on key subjects. For instance, more than USD 7 billion is spent on sports in the United States each year.
Besides this, sports are a fundamental component of American culture and have existed since ancient times, which is predicted to drive market growth in the coming years. According to estimates, the annual cost of youth sports in the United States is over USD 35 billion for households.
APAC Market Analysis
The APAC region will also observe huge growth for the sporting goods market over the projection period and will hold the second position owing to the growing demand for high-quality sports equipment, impelled by a growing interest in fitness and a need for premium products. Moreover, expenditure on fantasy sports has surged as a result of the multiplier effect of rising disposable income on discretionary consumption in the region, leading to a higher demand for sporting goods. For instance, India's per capita household disposable income is expected to reach around USD 25 in 2024.
Companies Dominating the Sporting Goods Landscape
- Adidas AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Dick’s Sporting Goods
- Puma SE
- The North Face Inc.
- Under Armour Inc.
- Sketchers USA Inc.
- Converse Inc.
- Nike Inc.
- Amer Sports Corporation
- VF Corporation
Recent Developments
- Dick's Sporting Goods launched the Calia Inspire series, a novel technological fabric designed to be versatile. To promote the line, the firm simultaneously developed a campaign called "Calia Inspire: There's Beauty in the Burn." As stated in a press statement from the company, the collection includes sports bras, dresses, leggings, bodysuits, shorts, tank tops, and other items of sportswear.
- Adidas' largest multisport shoe collections was unveiled. The colorful footwear collection equips athletes across 41 different disciplines, from traditional sports like basketball, tennis, and running to the newest addition of breakdancing. Over 20 of the 49 models will be worn by competitors this summer.
Author Credits: Dhruv Bhatia
- Report ID: 5871
- Published Date: Jan 03, 2025
- Report Format: PDF, PPT
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Sporting Goods Market Report Scope
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