European sports equipment and clothing market expected to reach $ 172,315 million by 2025
PORTLAND, OR, USA, Nov 18, 2021 /EINPresswire.com/ – The rise in popularity of sporting events originating in Europe is a major contributor to the growth of the sports equipment and apparel market. In addition, the initiative of various manufacturers of sports equipment and clothing to donate these products to financially weak athletes and sports fans is expected to positively impact the overall market growth.
According to a new report released by Allied Market Research titled “European Sports Equipment and Clothing Market by Activity: Analysis of Industry Opportunities and Forecast, 2018-2025,” the size of the Europe Sports Equipment and Clothing market was valued at $ 115,709 million in 2017, and is expected to reach $ 172,315 million by 2025, with a CAGR of 5.5% from 2018 to 2025. Germany dominated the European sports equipment and clothing market in 2017, representing 19.7% of total revenues.
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Sports equipment is a useful utility device or tool for engaging in sports activities. Likewise, sportswear is useful in enhancing athletic performance with the required comfort. However, consumers actively wear sportswear outside of sports hours. This report is an in-depth study of the sports equipment and clothing market consumed in different types of sports activities. Based on outdoor activities, the market is divided into hiking; winter and water sports; team games such as football, volleyball and basketball; and racket sports such as tennis, squash and the like.
The increase in consumer health awareness and the rapid increase in disposable income per capita is expected to boost the market demand for sports equipment and clothing. In addition, the increasing demand for sportswear among young sports enthusiasts and advancements in the formulation of sports equipment are fueling the growth of the European sports equipment and clothing market. However, the declining participation of the younger generation in sports activities is hampering the growth of the market. In addition, increasing consumer interest in non-sports leisure activities such as movies, music concerts, virtual games and others is slowing the growth of the European sports equipment and clothing market. Conversely, increasing participation of various organizations in donating such equipment and clothing to emerging sports fans and athletes with low financial resources is expected to provide lucrative opportunities for market growth. For example, Sports Gift, Let’s Play It Forward, Europe Sports Foundation and One World Play Project are some of the well-known organizations that support the process of donating sports equipment. Thus, the increase in the distribution of sports equipment and clothing through the online retail platform is expected to drive the growth of the market in the near future.
Governments of European countries are constantly conceptualizing and establishing effective and timely health care programs. Developing countries show a significantly increasing trend in health care offerings in all sectors. Employee fitness-related allowances are expected to increase in the future. This is expected to boost the activity of the sports equipment and clothing industry, as a significant portion of employee income would be invested in fitness activities such as gym and yoga. This in turn should stimulate the growth of the European sports equipment and clothing industry.
In-depth analysis of the impact of the COVID-19 epidemic on the European sports equipment and clothing market: https://www.alliedmarketresearch.com/request-for-customization/5263?reqfor=covid
Based on region, the European sports equipment and clothing market is analyzed in Germany, France, UK, Italy, Spain and the rest of Europe. In Germany, the penetration of sports equipment and clothing is high, due to the resurgence of national, national and international competitions organized by various governments in the European region, which increases participation and develops the interest of young people for sports activities. This in turn has led to an increase in the demand for sports equipment and clothing, which contributes significantly to the overall growth of the European sports equipment and clothing market.
Main conclusions of the European sports equipment and clothing market:
In 2017, Germany was the main contributor to the European sports equipment and clothing market, growing at a CAGR of 5.6% from 2018 to 2025.
In 2017, the sports equipment segment accounted for more than half of the sports equipment and clothing market share in Europe and is expected to grow at a CAGR of 5.8% from 2018 to 2025.
The independent stores segment is expected to grow at a CAGR of 5.1% during the forecast period of the sports equipment and clothing market in Europe.
In 2017, France accounted for almost 14% of the size of the European sports equipment and clothing market, and is expected to grow at a CAGR of 5.1%.
In 2017, the sportswear and footwear segment accounted for a significant share of the European sports equipment and clothing market and is expected to grow at the highest CAGR of 5.0%.
Major players operating in the European sports equipment and clothing industry include Adidas AG (ADIDAS), Amer Sports Corporation, Asics Corporation, Fila Korea Ltd, New Balance, Nike, Inc, Puma Se (Kering), Sports Direct International Plc , Under Armor, Inc and VF Corporation (VFC).
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