Kids Sports Equipment And Accessories Market demand is increasing rapidly.
Posted by Shashiipawar on April 18th, 2019
Kids’ Sports Equipment and Accessories: General Market Outlook
Gripping a considerable market size in the global sports equipment and accessories industry, the kids’ sports equipment and accessories market is growing sustainably since the past few years. The key factors positively influencing the global market include increasing popularity of ball sports among kids, innovation of kids’ sports apparel and accessories, and booming acceptance of ecommerce retailing.
However, throughout the forecast period 2016-2026, the market is estimated to thrive at a single digit CAGR, owing to a few strong restraints. While the U.S. will continue to be the largest market, ball sports is expected to be get the largest sales opportunities to the market, over 2016-2026.
Key Market Drivers
Growing popularity of ball sports such as football/soccer and basketball among kids and their parents has been a key driver fuelling the growth of kids’ sports equipment and accessories market. In addition, the increasing number of sports competitions and participatory tournaments organised by schools worldwide is also reported to bolster the demand for sports equipment and accessories for kids.
Easy availability of trendy sports accessories and a wide variety of equipment especially designed for kids, can be another factor driving market growth. The market since the past decade has been witnessing remarkable R&D on athletic apparel, footwear, and other products for children, which is also a positive force driving their demand in the market.
Establishment of ecommerce players in the market is also an ascending influencer, as parents find it convenient to browse, select, and order their favourite sports accessories and equipment for their kids. There are some exclusively online products available for limited time, which further account for more sales of sports equipment and accessories.
World Cup matches, Commonwealth Games, Olympics, and several leagues and international sports commencing throughout the year seem to inspire kids, due to which they look forward to indulge in their favourite sport. Media is found to be a crucial factor here for more effective advertising and promotion of such events and thereby contributing to market growth.
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Major Restraints to Market Growth
Around 25% of public high schools in the U.S. are on a low sports budget and if the scenario continues, there is a possibility of not organising any sports or athletics tournaments by them, through 2020. The U.S. being the largest market for kids’ sports equipment and accessories, it is expected to hold a major descending impact on the market sales.
According to a research by “USA Families in Sports Lab” conducted in 2014, the average annual family financial investment in youth sports was around 2% of the average family's gross annual income. Some affluent parents also invest over 10% of their gross annual income in their kids’ sports equipment and accessories. Growing costs might play a growth restraint for market in the U.S. as well as most of the developing nations.
Children today are tech-savvy and more inclined toward playing online or video games at a particular age. This tendency is a major restraint if continues.
Kids’ Sports Equipment and Accessories Market: Segmentation
FMI’s research report on the global kids’ sports equipment and accessories market provides a 10-year forecast, segmenting the market based on the type of sport, equipment and accessories, age group, price, distribution channel, and geographical region.
On the basis of the type of sports, the market is segmented as outdoor sports, indoor sports, and fitness sports. Outdoor sports is further sub-segmented into soccer, cricket, baseball, netball, tennis, badminton, and others. Indoor sports are also sub-segmented into table tennis, carom, air hokey, and others.
Based on the fitness equipment and accessories, the market can be segmented into machines, bench, light weight dumbbells, and others.
According to the age group of kids, the sports equipment and accessories market is segmented into two groups, including 6 to 9 years old and 10 to 12 years old. 6 to 9 year old segment has more involvement of parents in buying a product whereas 10 to 12 years old segment has lesser involvement of parents in buying a product. This has led sports equipment and accessories manufacturers to develop such products, which cater to the demand for 6 to 9 year old segment.
By price, the market is segmented into low, medium, and high price segments. Most of the small level unorganised players offer low level pricing of kids’ sports equipment and accessories, resulting in increased competitiveness in the global market.
On the basis of distribution channel, the market segmentation includes offline market and online retailing market. The former is further categorised into exclusive stores, sports equipment stores, and others.
The market is geographically segmented into seven key regions, including North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA).
Market Trends Forecast
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Key Players in the Market
Some of the key international players in the global kids’ sports equipment and accessories market are Nike Inc., JD Sports Fashion Plc., Adidas A.G., PUMA S.E., and Cabela’s Inc.
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