Europe sports equipment and apparel market size is expected to reach $172,315 million by 2025
The rise in popularity of sporting events originating in Europe is majorly contributing to the growth of the sports equipment and apparel market. Furthermore, the initiative of various sports equipment and apparel manufacturers to donate these products to financially weak athletes and sports enthusiasts is expected to have a positive impact on the overall market growth.
According to a new report published by Allied Market Research titled “European sports equipment and clothing market by Activity: Opportunity Analysis and Industry Forecast, 2018 – 2025”, the European sports equipment and apparel market size was valued at $115,709 million in 2017 and is projected to reach $172,315 million by 2025, with a CAGR of 5.5% from 2018 to 2025. Germany led the European sports equipment and apparel market in 2017, accounting for 19.7% of total revenue.
Download a sample copy with table of contents, charts, and list of figures: https://www.alliedmarketresearch.com/request-sample/5263
Sports equipment are utilitarian devices or tools that are useful for practicing sports activities. Likewise, sportswear is helpful in improving sports performance with the required comfort. However, consumers actively wear sportswear outside of sports hours. This report is an in-depth study of the market for sports equipment and apparel consumed in different types of sports activities. Based on outdoor activities, the market is divided into hiking; winter sports and water sports; team games such as football, volleyball and basketball; and racquet sports like tennis, squash and others.
Rising consumer health awareness and rapidly rising per capita disposable income are expected to drive demand for sports equipment and apparel. In addition, increasing demand for sportswear among young athletes and advancements in the formulation of sports equipment are fueling the growth of the European sports equipment and apparel market. However, declining participation of the younger generation in sports activities is hampering the growth of the market. Additionally, growing consumer interest in leisure activities other than sports such as movies, concerts, virtual games and others is restraining the growth of the European sports equipment and apparel market. Conversely, increasing involvement of various organizations in donating such equipment and apparel to emerging sports enthusiasts and athletes with poor financial backgrounds is expected to provide lucrative opportunities for market growth. For example, Sports Gift, Let’s Play It Forward, Europe Sports Foundation and One World Play Project are some of the well-known organizations that support the sports equipment donation process. Thus, the increase in the distribution of sports equipment and apparel through an online retail platform is expected to boost the market growth in the near future.
Governments of European countries are constantly conceptualizing and establishing effective and timely health care programs. Developing countries report a significant upward trend in health care offerings across all sectors. Employee fitness allowances are expected to increase in the future. This is expected to boost activity in the sports equipment and apparel industry as a significant portion of employee income would be invested in fitness activities such as gym and yoga. This, in turn, is expected to drive the growth of the European sports equipment and apparel industry.
Based on region, Europe sports equipment and apparel market is analyzed in Germany, France, UK, Italy, Spain and Rest of Europe. In Germany, the penetration of sports equipment and apparel is high, due to the upsurge of national, national and international competitions organized by various governments in the European region, which increase participation and develop young people’s interest in sports activities. . This has led to an increase in the demand for sports equipment and apparel, which is contributing significantly to the overall growth of the European sports equipment and apparel market.
Key Findings of the Europe Sports Equipment and Apparel Market:
In 2017, Germany was the top contributor to the European sports equipment and apparel market, growing at a CAGR of 5.6% from 2018 to 2025.
In 2017, the sports equipment segment accounted for more than half of the sports equipment and apparel market share in Europe and is expected to grow at a CAGR of 5.8% from 2018 to 2025.
The independent stores segment is expected to grow at a CAGR of 5.1% during the forecast period for the European sports equipment and apparel market.
In 2017, France accounted for nearly 14% of the European sports equipment and apparel market size and is expected to grow at a CAGR of 5.1%.
In 2017, the sportswear and footwear segment accounted for a significant share of the European sportswear and equipment market and is expected to grow at the highest CAGR of 5.0%.
Major prominent players operating in Europe sports equipment and apparel industry are 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).
Interested in getting the data? Find out here at: https://www.alliedmarketresearch.com/purchase-enquiry/5263?utm_source=Digi_Journal&utm_medium=Email&utm_campaign=Prasun