Key Takeaways
- The global sporting goods market was valued at $487.62 billion in 2022 and is projected to reach $614.26 billion by 2027, growing at a CAGR of 4.37%.
- U.S. sporting goods industry retail sales reached $109.2 billion in 2022, up 5.3% from 2021.
- Sporting goods e-commerce sales in Europe grew by 12.4% in 2023 to €35.6 billion.
- 65% of U.S. consumers aged 18-34 purchased sporting goods online in 2023.
- 42% of global consumers prioritize sustainability in sports apparel purchases.
- Women account for 52% of fitness equipment buyers in Europe in 2023.
- Athletic footwear segment holds 35% of global sports market share.
- Sports apparel revenue accounts for 42% of industry total in 2023.
- Fitness equipment represents 12% of U.S. sporting goods sales.
- North America holds 38% of global sporting goods market share in 2023.
- Asia-Pacific expected to grow fastest at 6.1% CAGR 2023-2030.
- Europe sports apparel market $85 billion in 2022.
- Online sales channel grew to 28% of total sporting goods revenue in 2023.
- U.S. specialty sporting goods stores hold 35% market share.
- Amazon captured 42% of U.S. sports e-commerce in 2022.
The global sporting goods market is growing strongly across all regions and segments.
Consumer Trends
- 65% of U.S. consumers aged 18-34 purchased sporting goods online in 2023.
- 42% of global consumers prioritize sustainability in sports apparel purchases.
- Women account for 52% of fitness equipment buyers in Europe in 2023.
- 78% of millennials engage in at least one sport weekly.
- U.S. Gen Z spending on athleisure up 28% YoY in 2023.
- 55% of consumers prefer performance fabrics in activewear.
- Home fitness participation rose to 41% among adults post-COVID.
- 67% of parents buy sports gear for kids influenced by social media.
- Eco-friendly sports products demand up 35% in Asia-Pacific.
- 49% of seniors over 65 now use fitness trackers daily.
- Cycling popularity among urban dwellers up 22% in 2023.
- 73% of consumers seek customizable sports footwear.
- Team sports participation declined 8% among youth in U.S.
- 61% prefer brands with athlete endorsements.
- Outdoor activity engagement up 15% among families.
- 58% of buyers influenced by influencer marketing in sports gear.
- Vegan sports nutrition products sales up 40%.
- 44% of consumers return to in-store for try-ons post-pandemic.
- Running participation grew 12% globally in 2023.
- Golf interest among women up 25%.
- 69% prioritize breathable materials in summer gear.
- Esports viewership influences 31% gear purchases.
- 53% of low-income households increased sports spending.
- Yoga practice up 18% among men.
- 76% use apps for training motivation.
- Adventure travel gear demand from 29% more millennials.
- 62% seek antimicrobial fabrics post-COVID.
Consumer Trends Interpretation
Market Size & Growth
- The global sporting goods market was valued at $487.62 billion in 2022 and is projected to reach $614.26 billion by 2027, growing at a CAGR of 4.37%.
- U.S. sporting goods industry retail sales reached $109.2 billion in 2022, up 5.3% from 2021.
- Sporting goods e-commerce sales in Europe grew by 12.4% in 2023 to €35.6 billion.
- The athletic footwear segment is expected to grow from $92.4 billion in 2023 to $135.2 billion by 2030 at a CAGR of 5.6%.
- Global fitness equipment market size was $13.4 billion in 2022, forecasted to hit $20.6 billion by 2030.
- China's sporting goods market revenue hit ¥1,200 billion in 2022, with 8% YoY growth.
- North American sporting goods market projected to grow at 5.2% CAGR from 2023-2028.
- Outdoor recreation equipment sales in the U.S. surged 15% to $28.5 billion in 2022.
- Global sports apparel market valued at $197.7 billion in 2023, expected to reach $285.3 billion by 2032.
- Indian sporting goods market to grow from $2.3 billion in 2022 to $4.1 billion by 2028 at 10.2% CAGR.
- Latin America sports equipment market size was $12.8 billion in 2022, growing to $18.9 billion by 2030.
- U.K. sporting goods retail sales increased 4.8% to £7.2 billion in 2023.
- Team sports equipment market globally at $18.5 billion in 2023, CAGR 4.1% to 2030.
- Adventure sports gear market to expand from $4.2 billion in 2022 to $7.1 billion by 2031.
- Global golf equipment market valued at $7.8 billion in 2022, projected $9.6 billion by 2028.
- Cycling equipment market reached $62.3 billion in 2023, expected 6.5% CAGR.
- Watersports equipment sales hit $5.9 billion globally in 2022.
- Racquet sports gear market at $3.4 billion in 2023, growing to $4.8 billion by 2030.
- Winter sports equipment market valued $22.1 billion in 2022.
- E-sports peripherals market to reach $4.7 billion by 2027 from $2.1 billion in 2022.
- U.S. youth sports market size $19.2 billion in 2022.
- Australia sporting goods industry revenue $5.6 billion AUD in 2023.
- Middle East sports goods market growing at 7.3% CAGR to 2028.
- Africa sports equipment market from $1.8 billion in 2022 to $3.2 billion by 2030.
- Japan fitness wearables market $2.1 billion in 2023.
- Brazil sporting goods sales up 9% to R$45 billion in 2022.
- South Korea sports apparel market $8.7 billion in 2023.
- Canada outdoor gear market $4.3 billion CAD in 2022.
- Germany team sports market €4.5 billion in 2023.
- Southeast Asia sporting goods projected $25 billion by 2027.
Market Size & Growth Interpretation
Product Segments
- Athletic footwear segment holds 35% of global sports market share.
- Sports apparel revenue accounts for 42% of industry total in 2023.
- Fitness equipment represents 12% of U.S. sporting goods sales.
- Golf clubs and balls segment at $3.2 billion in U.S. 2022.
- Cycling bikes sales 28% of bicycle market, $17.5 billion globally.
- Team balls and accessories 15% of team sports gear.
- Outdoor apparel 22% growth in tents and camping gear.
- Swimwear segment valued at $21.4 billion globally.
- Racquet sports (tennis) rackets 40% of category sales.
- Winter skis and boards $8.9 billion market.
- Home gym machines 55% of fitness equipment sales.
- Athleisure wear 60% of women's sports apparel.
- Protective gear 18% of team sports market.
- E-bikes 32% of cycling segment in Europe.
- Yoga mats and accessories $2.8 billion.
- Golf apparel 25% of golf product sales.
- Watersports boards (surf, SUP) 45% share.
- Fitness wearables 14% of total fitness market.
- Camping equipment 19% of outdoor segment.
- Running shoes 52% of footwear sales.
- Basketball gear $4.1 billion globally.
- Hiking boots 28% of outdoor footwear.
Product Segments Interpretation
Regional Markets
- North America holds 38% of global sporting goods market share in 2023.
- Asia-Pacific expected to grow fastest at 6.1% CAGR 2023-2030.
- Europe sports apparel market $85 billion in 2022.
- U.S. dominates with 25% global share in athletic footwear.
- China 35% of global manufacturing for sports goods.
- Latin America fitness equipment growth 7.8% annually.
- Middle East & Africa market $15.6 billion in 2023.
- Japan holds 12% of Asia-Pacific sports market.
- India sports goods exports $1.2 billion in 2022.
- Australia outdoor sports 40% of regional market.
- Brazil soccer equipment 55% of sports sales.
- Germany leads Europe in team sports gear $12B.
- South Korea e-sports gear 20% regional growth.
- Canada winter sports market $3.4B CAD.
- U.K. cycling segment 18% of Europe total.
- Southeast Asia adventure sports up 14%.
- Russia sports imports $4.5 billion despite sanctions.
- Mexico fitness centers drive 22% growth.
- South Africa rugby gear 30% market share.
- Turkey manufacturing hub for Europe, 15% share.
- Nordic countries ski market $2.1B combined.
- Vietnam rising in apparel production 10% global.
- Argentina tennis equipment growth 11%.
- UAE luxury sports goods $1.8B imports.
Regional Markets Interpretation
Retail & Sales Channels
- Online sales channel grew to 28% of total sporting goods revenue in 2023.
- U.S. specialty sporting goods stores hold 35% market share.
- Amazon captured 42% of U.S. sports e-commerce in 2022.
- Europe omnichannel retail 55% consumer preference.
- Dick's Sporting Goods U.S. sales $12.4 billion in 2023.
- Direct-to-consumer (DTC) brands 18% growth in sales.
- Global sports marketplaces like Decathlon 15% share.
- Mobile commerce 32% of e-sports gear sales.
- Pop-up stores boosted offline sales 12%.
- Subscription boxes for fitness gear up 25% subscribers.
- China Tmall sports category $50B GMV 2023.
- Big box retailers like Walmart 22% share decline.
- Social commerce via Instagram 14% of apparel sales.
- Europe Intersport chain 9% market share.
- Flash sales drive 20% discount purchases.
- AR try-on tech boosts conversion 30% online.
- Independent bike shops 45% of cycle sales.
- Golf specialty retail $1.9B U.S. sales.
- Outdoor retailers like REI membership 25M.
- BNPL options used by 41% sports buyers online.
- Hypermarkets 28% share in emerging markets.
- Nike DTC sales $10B in fiscal 2023.
- Under Armour outlet stores 15% revenue.
- E-commerce penetration 45% in fitness equipment.
- Live streaming sales China sports 30% growth.
Retail & Sales Channels Interpretation
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