Sporting Goods Market Will Reach USD 70.2 BN By 2028

The latest market report published by Credence Research, Inc. “Global Sporting Goods Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Sporting Goods Market generated revenue of around USD 61.2 billion in 2021 and is anticipated to grow a CAGR of over 2.30% during the forecast period from 2022 to 2028 to reach approximately USD 70.2 billion in 2028. While cumulative growth opportunity presented by global Sporting Goods is around USD 8.9 billion from 2022 to 2028. The ever-increasing popularity of athletic activities is expected to be the primary market driver for rapidly rising sporting goods sales.

Obesity prevalence is growing, as is health and fitness awareness, processed food consumption is increasing, disposable income is rising, and sports activities are becoming more popular among the general population. These significant factors drive demand for sporting goods and thus grow the market. The sporting goods market is likely to be restrained by expanding Internet penetration and a growing tendency among the younger population to play online/digital games. Continuous innovations and rapid technical improvements are driving market expansion to stay up with changing consumer demands. The growing awareness of the benefits of a healthy lifestyle and the relevance of sports and fitness activities is driving up demand for such equipment.

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The global Sporting Goods market is segmented into product and distribution channels and Geography. Based on product, the market is categorized into Ball over net games, Ball games, Fitness/Strength equipment, Athletic training equipment, and Others. The market is divided into three segments based on distribution channels: online retail, specialty & sports shops, and department & discount stores. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America and the Middle East, and Africa.

Why Buy This Report-

• The report provides a qualitative and quantitative analysis of the global Sporting Goods market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-to 2020, base year- 2021, and forecast period 2022-2028.
• The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country-level
• In-depth analysis of the global market segmentation based on product and Distribution channels.
• Research and development investments by the government as well as significant players.
• The global Sporting Goods market report includes global, regional, and country-level analysis, key market trends, significant players analysis, market growth strategies, and critical application areas.