Sporting and Athletic Goods Global Market Report 2024

The sporting and athletic goods market size has grown strongly in recent years. It will grow from $182.73 billion in 2023 to $198.08 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth witnessed in the historical period can be ascribed to factors such as global sporting events, the surge in fitness and wellness trends, increased marketing and endorsements, urbanization fostering recreational spaces, and heightened awareness about health and fitness.

The sporting and athletic goods market size is expected to see strong growth in the next few years. It will grow to $269.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be linked to factors such as the increasing adoption of sustainability practices, the integration of health and wellness, a rise in customization and personalization, the expanding athleisure market, increased youth sports participation, and the influential role of social media. Notable trends expected in the forecast period include the integration of smart sportswear, the use of augmented reality (AR) in sports training, the adoption of subscription models for sports gear, the design of female-centric sportswear, and ongoing innovations in footwear technology.

The manufacturing market for sporting and athletic goods is poised to benefit from the anticipated steady economic growth in both developed and developing nations. As per the International Monetary Fund (IMF), global GDP growth stood at 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, following a decline in the historic period, are anticipated to be a significant driver of economic growth. The US economy is projected to maintain stable growth in the forecast period. Additionally, emerging markets are expected to exhibit slightly faster growth compared to developed markets during the forecast period. This heightened economic growth is such as ly to stimulate public and private investments, foster joint ventures, and attract foreign direct investments in end-user markets, thereby propelling the market throughout the forecast period.

The increase in sports participation is a driving force behind the growth of the sporting and athletic goods market. Sports participation involves individuals engaging in various sports and physical activities, encompassing both organized and recreational sports. The growth in sports participation leads to a larger customer base with diverse needs, fostering demand for a broad spectrum of sports equipment, apparel, and accessories. For instance, in February 2023, the Sports & Fitness Industry Association (SFIA) reported that a total of 236.9 million Americans, representing 77.6% of the population, participated in at least one sports activity, marking a 1.9% increase from 2021. Notably, pickleball emerged as the fastest-growing sport, with participation nearly doubling by 85.7% year-over-year and witnessing an impressive 158.6% increase over three years. Therefore, the growing trend of sports participation is set to drive the growth of the sporting and athletic goods market.

The global outbreak of the COVID-19 disease (COVID-19) significantly restrained the sporting and athletic goods manufacturing market in 2022. The disruption of supply chains due to trade restrictions and reduced consumption during government-imposed lockdowns contributed to this impact. COVID-19, characterized by flu-such as symptoms, first emerged in Wuhan, Hubei province, China, in 2019, spreading globally and leading to lockdowns in various regions. While manufacturing activities halted, economic activity declined. However, it is expected that the sporting and athletic goods manufacturing market will recover from this setback over the forecast period, considering COVID-19 as a 'black swan' event, unrelated to ongoing or fundamental weaknesses in the market or the global economy.

Additive manufacturing is emerging as a crucial trend in response to the intensifying competition within the sports goods industry. This technique involves the construction of three-dimensional objects through the successive addition of multiple material layers, guided by digital models. The sports goods sector faces rapidly evolving customer demands and specific product performance requirements. Additive manufacturing addresses these challenges by providing an efficient solution for rapid prototyping, enabling manufacturers to meet individualized design preferences. As an illustration, Asics Corporation, a Japanese company specializing in sportswear and athletic equipment, is set to launch ACTIBREEZE in July 2022. This innovative sandal features a groundbreaking geometric structure achieved through a parametric design method and cutting-edge 3D printing technology. Tailored to support recovering athletes both physically and mentally, the structure offers exceptional comfort and protection.

Prominent companies in the sporting and athletic goods market are strategically focusing on the development of innovative products, such as inspired sportswear, to secure a competitive edge. Inspired sportswear encompasses clothing and apparel designed for sports and fitness activities, combining style and functionality. For example, in May 2022, The Wilson Sporting Goods Company, a US-based sports equipment manufacturer, unveiled its premium tennis-inspired sportswear collection. This high-end line features a fusion of top-selling designs and new technical apparel crafted for optimal performance both on and off the tennis court. This product launch follows Wilson's entry into the sportswear market approximately a year ago, underscoring the company's commitment to innovation, craftsmanship, and sports culture. The collection includes an exclusive Clay + Felt magazine edition, showcasing the new sportswear line, innovative equipment, and contributions from partners such as tennis icon Billie Jean King.


Major companies operating in the sporting and athletic goods market report are Christian Dior SE, The Procter & Gamble Company, Nike Inc., The Michelin Group, Bridgestone Corporation, Adidas AG, WestRock Company LLC, International Paper Company, Kimberly-Clark Corporation, Decathlon S.A., Russell Athletic LLC, Anta Sports Products Limited, Skechers USA Inc., Under Armour Inc., New Balance Athletics Inc., Rajesh Exports Ltd., Callaway Golf Company, Li-Ning Company Limited, ASICS Corporation, Columbia Sportswear Company, Fila Holdings Korea Ltd., Amer Sports Corporation, Mizuno Corporation, The North Face Inc., Patagonia Inc., YONEX Co. Ltd., Skis Rossignol S.A., K-Swiss Inc., Performance Sports Group Ltd., Derby Cycle Corporation.

Asia-Pacific was the largest region in the sporting and athletic goods market in 2023. Western Europe was the second largest region in the sporting and athletic goods market. The regions covered in the sporting and athletic goods market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the sporting and athletic goods market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The primary categories of sporting and athletic goods comprise fishing equipment, skating and skiing gear, golf equipment, and other sports-related items. Fishing equipment encompasses various tools such as dredges, nets, lines, instruments, devices, harpoons, spears, hooks, or hook and line used in the pursuit of fish for recreational and sporting activities. These goods are crafted from diverse materials such as plastics, wood, metal, among others, and are made available through different distribution channels, including online stores, specialty outlets, convenience stores, and departmental stores.

The sporting and athletic goods market research report is one of a series of new reports that provides sporting and athletic goods market statistics, including sporting and athletic goods industry global market size, regional shares, competitors with a sporting and athletic goods market share, detailed sporting and athletic goods market segments, market trends and opportunities, and any further data you may need to thrive in the sporting and athletic goods industry. This sporting and athletic goods market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The sporting and athletic goods market consists of sales of ropes and cords, sails, skates, skis, sleds, and sleeping bags, retail, and rubber material. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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