Sports equipment and clothing market trends and forecasts by 2026 – TMR
The major players in the global sports equipment and clothing market are Adidas AG, Amer Sports Corporation, ASICS Corporation, Decathlon SA, New Balance, Inc., Nike, Inc., Puma SE, Sports Direct International plc., Under Armor Inc. and VF society
The sports industry is one of the largest developing industries in the world. Initially, the sport was part of military training to develop mental and physical skills. Nowadays, more and more people are increasingly participating in sports and recreational activities due to health awareness and sports management. Sport as an activity helps consumers achieve benefits such as improved physical and mental health, teamwork, responsibility and a positive self-image. Consumers are gradually spending on sports clothing and equipment as well as leisure clothing and accessories. Following the evolution of the sports industry, various associations and federations have made it compulsory to wear sports equipment according to the needs of the sport. The equipment provides protection against injury when playing sports.
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Growing interest in sports and increasing disposable income are fueling the growth of the global sports equipment and clothing market. Various governments have invested in games and sports, which will increase player participation and ultimately stimulate the market. Increasing demand for performance, strong and lightweight sports products is expected to drive the growth of the global sports equipment and clothing market. The introduction of new technologies such as the AI chatbot, augmented and virtual reality applications, and voice-activated devices will help gamers by improving their performance and encouraging them to take up sports. Other market trends include sponsorship of sporting events to motivate young players and more countries adopting sport as a tool for the physical development of their populations. The increase in the number of tournaments and matches such as FIFA, IPL and World Cup is expected to provide an opportunity for young players, thus boosting the market for sports equipment and clothing. Manufacturers innovate in their products to make them more comfortable and lighter, such as knee pads, helmets, etc. The sports equipment industry is highly fragmented due to a number of sports played across the world; different types of equipment are needed depending on the sport. The online distribution channel has increased sales of sports equipment and clothing. Consumers tend to buy from online stores due to the increasing penetration of the internet and the large discounts of these stores.
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Certain constraints may affect the demand for sports equipment and clothing. This includes the growing inclination of consumers towards other leisure pursuits such as watching movies, virtual reality games, and music festivals. In addition, some sports equipment is expensive and unaffordable for most people. To increase the level of protection when playing this sport, some manufacturers may increase the weight of the equipment, which may cause discomfort for the player.
The global sports equipment and apparel market can be segmented on the basis of product type, gender, distribution channel, and region. On the basis of product type, the sports equipment and clothing market can be classified into equipment, clothing and footwear. In addition, equipment and clothing can be classified into play equipment (balls, bat and sticks, rackets, skates and the like (skateboard, flying disc, wickets, etc.) and protective equipment (helmet, protectors). shins, shoulder and elbow pads, gloves and others (mouth guards, knee pads, etc.) and clothing (t-shirts, sweatpants, tights, shorts and others (shirts, jackets, etc.). Based on gender, The global sports equipment and clothing market can be categorized into men, women and children. In terms of distribution channel, the sports equipment and clothing market can be categorized online and offline (large format stores, specialty stores and small retail players). The clothing market can be divided into North America, Europe, Asia-Pacific, Middle East and Africa and South America.
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