Europe Sports Equipment and Apparel Market by Product Type, Opportunity Analysis
Posted by facto on October 10th, 2019
The Europe sports equipment and apparel market size was valued at 5,709 million in 2017, and is projected to reach 2,315 million by 2025, growing at a CAGR of 5.5% from 2018 to 2025.
The sports equipment industry is rapidly evolving due to increase in adoption of emerging sports technologies and latest trends among youth population. Introduction of innovative products is the medium for manufacturers to sustain in the competitive market, attract new consumer, and cater to the requirements of the existing consumers. Furthermore, increase in fan base of popular sport events such as Olympic, Indian Premier League, FIFA, and others fuels the demand for sports equipment and apparels, which in turn drives the growth of the market. Moreover, rise in popularity of sport and fitness activities among the youth propels the overall market growth.
However, increase in preference for indoor activities such as playing video games and rise in use of smartphones among youth due to increase in internet penetration adversely affect the market growth. In addition, proclivity of consumers toward other leisure activities such as virtual reality gaming, watching movies, live music shows, and others restrains the growth of the sports equipment and apparel industry. Moreover, the seasonality of sports increases the preference for other leisure activities, owing to end of the sports season, which impedes the market growth.
Growth in health awareness along with increase in fitness consciousness among young generation and upsurge in disposable income are some of the notable factors that support the market growth. Market players are adopting promotional & marketing activities as their key strategy to increase their market reach.
Increase in prevalence of obesity and rise in health consciousness majorly boost the growth of the Europe sports equipment & apparel market. Furthermore, government initiatives to promote healthy life increase the number of participants for sports.
However, sports events are one of the major targets of public opposition, protest, criticism, and complaint, owing to the fact that various sports event have extensive fan base who watch sports telecasting or listen to the sports commentary on radio or other mediums. Many of the athletes are attacked due to national rivalry or for getting the attention of media. Social unrest in sports events cause disturbance among fan base and athletes, leading to failure/closure of sports events and decline in participation of emerging or existing players in sports events. On the contrary, improvement in lifestyle, increase in youth population, and rise in per-capita income in the region are anticipated to provide lucrative opportunities for the Europe sports equipment & apparel market.
The Europe sports equipment & apparel market is segmented based on product type, retailers, and country. Based on product type, the market is categorized sports equipment and sports apparel & footwear. Based on retailers the market is categorized into brand outlets and independent stores. Based on country, the Europe sports equipment & apparel market is studied across UK, France, Germany, Italy, Spain, and rest of Europe.
Key leading players operating in the Europe sports equipment & apparel market include Adidas AG (ADIDAS), Amer Sports Corporation, Asics Corporation, Fila Korea Ltd, New Balance, Nike, Inc, Puma Se (Kering), Sports Direct International Plc, Under Armour, Inc, and VF Corporation (VFC).
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
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Joined: October 7th, 2019
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