Sports Equipment and Apparel Market to Reach $ 817.17 Billion Globally by 2027 at 7.2% CAGR: Allied Market Research

Portland, Oregon, April 8, 2020 / PRNewswire / – Allied Market Research published a report titled, Sports equipment and clothing market by type of product (equipment and clothing), type of sport (cycling, outdoors, tennis, other racket sports, running, fitness, football / soccer, other team sports, Winter sports, water sports and others) and distribution channel (online and offline): Global opportunity analysis and industry forecast, 2020-2027. ” According to the report, the global sportswear equipment and clothing industry has achieved $ 470.40 billion in 2019, and is expected to reach $ 817.17 billion by 2027, registering a CAGR of 7.2% from 2020 to 2027.

Main determinants of growth

The increase in awareness of sports and fitness in the world, the increase in spending on children’s sports training and development and the increase in the number of competitions at national, national and international levels organized by different governments are driving the growth of the global sports equipment and clothing market. However, the increasing inclination of children towards indoor leisure activities as well as political influence over sporting events is hampering the growth of the market. On the contrary, the inclination towards outdoor activities including adventure sports and going out to break up the monotony of everyday life and the rise of online shopping platforms create new opportunities in the years to come. .

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

On the basis of product type, the equipment segment contributed the largest market share in 2019, holding more than half of the global sports equipment and clothing market, and is expected to continue to dominate in terms of revenue over the course of of the forecast period. Additionally, this segment is expected to experience the highest CAGR of 7.2% from 2020 to 2027. This is attributed to increased consumer investment in sports equipment. The report also offers a detailed analysis of the Apparel and Footwear segment.

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

Based on the distribution channel, the offline segment accounted for more than three quarters of the global sports equipment and clothing market in 2019 and is expected to maintain its leading status throughout the forecast period. Additionally, this segment would register the highest CAGR of 7.2% during the forecast period. This is due to the attractive offers available in physical stores as well as the opportunity to try on equipment and clothing on site. The research also analyzes the online segment.

North America maintain its dominant share by 2027

Depending on the region, North America held more than a quarter of the global sports equipment and clothing market in 2019 and is expected to maintain its dominant share by 2027. This is attributed to the increasing inclination of consumers to outdoor activities which is boosting the market. launch of new sportswear as well as the availability of trendy and fashionable clothing. However, Asia Pacific is expected to maintain the highest CAGR of 10.1% from 2020 to 2027, owing to the increase in the purchasing power of consumers and the increase in marketing initiatives such as major marketing campaigns and recommendations from celebrities.

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The main market players

  • Decathlon SA
  • Nike, Inc.
  • Adidas AG
  • Puma SE
  • Under Armor Inc.
  • Amer Sports Corporation
  • ASICS Company
  • Gap inc.
  • VF Corporation New Balance, Inc.

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