Retail Sporting Goods Market

The global Retail Sporting Goods market was valued at US$ 577.62 billion in 2023 and is projected to reach US$ 1316.06 billion by 2035, at a CAGR of 11.55% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

Sports goods is a general term for all the items used in the process of education, competitive sports and physical exercise.

Retail Sporting Goods Market aims to provide a comprehensive presentation of the global market for Retail Sporting Goods, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Retail Sporting Goods. Retail Sporting Goods Market contains market size and forecasts of Retail Sporting Goods in global, including the following market information:

• Global Retail Sporting Goods Market Revenue, 2018-2023, 2024-2035, ($ millions)
• Global top five companies in 2023 (%)

The retail sporting goods market has seen significant growth over recent years, driven by increasing health consciousness and rising participation in sports activities. As of the latest reports, the global sporting goods market is valued at approximately $180 billion, with projections indicating continued expansion.

Demographics

• Age Distribution: The primary consumer base for sporting goods ranges from teenagers to middle-aged adults. A significant segment of this market is comprised of individuals aged 18-34, accounting for nearly 45% of total sales. The 35-54 age group follows closely, contributing around 30% of sales.
• Gender: The market is fairly balanced in terms of gender, with male consumers representing about 55% of the market share and female consumers making up the remaining 45%.
• Income Levels: Higher-income households are more likely to purchase premium sporting goods. Approximately 60% of consumers have an annual household income exceeding $75,000, showcasing a willingness to invest in quality and brand-name products.

Purchasing Behavior

• Frequency of Purchase: On average, active consumers purchase sporting goods 3-4 times per year. Seasonal spikes are observed around major sports events, back-to-school periods, and the holiday season.
• Spending Patterns: The average spending per transaction ranges from $50 to $150. Enthusiasts and professional athletes tend to spend significantly more, often exceeding $500 per purchase.
• Product Preferences: Footwear, apparel, and fitness equipment are the top-selling categories. There is a growing demand for athleisure wear, reflecting a blend of fashion and functionality.

Influencing Factors

• Brand Loyalty: Approximately 70% of consumers exhibit strong brand loyalty, with Nike, Adidas, and Under Armour being the most preferred brands. Brand reputation and product quality are critical factors influencing repeat purchases.
• Online vs. In-Store Purchases: E-commerce has seen a substantial rise, with about 40% of consumers preferring to shop online due to convenience and better deals. However, physical stores remain crucial for trying out products, particularly footwear and equipment.
• Social Media Influence: Social media platforms, especially Instagram and YouTube, play a pivotal role in shaping purchasing decisions. Around 50% of consumers follow their favorite sports brands and athletes on these platforms, often influenced by endorsements and reviews.

Emerging Trends

• Sustainability: There is a growing emphasis on sustainable and eco-friendly products. Approximately 35% of consumers are willing to pay a premium for products made from recycled materials or those that have a minimal environmental impact.
• Technological Integration: Wearable technology and smart equipment are becoming increasingly popular. Nearly 25% of consumers own some form of smart sports gear, such as fitness trackers or smart shoes.
• Customization: Personalized products, such as custom-designed sneakers or bespoke sportswear, are gaining traction. About 20% of consumers have expressed interest in or have already purchased customized sporting goods.

The major drivers of the retail sporting goods industry are growth in disposable income, governments promoting sports activities and encouraging sports participation, rising number of health-conscious people.
We surveyed the Retail Sporting Goods companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Retail Sporting Goods Market, by Type, 2018-2023, 2024-2035 ($ millions)
Global Retail Sporting Goods Market Segment Percentages, by Type, 2023 (%)

• Athletic Apparel
• Athletic Footwear
• Sports Equipment

• Men
• Women
• Children

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic Countries
• Benelux
• Rest of Europe
• Asia
• China
• Japan
• South Korea
• Southeast Asia
• India
• Rest of Asia
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• Turkey
• Israel
• Saudi Arabia
• UAE
• Rest of Middle East & Africa

• Key companies Retail Sporting Goods revenues in global market, 2018-2023 (estimated), ($ millions)
• Key companies Retail Sporting Goods revenues share in global market, 2023 (%)

• Adidas
• Dick's
• Foot Locker
• Nike
• Puma
• Rudolf Dassler

Outline of Major Chapters:
Chapter 1: Introduces the definition of Retail Sporting Goods, market overview.
Chapter 2: Global Retail Sporting Goods market size in revenue.
Chapter 3: Detailed analysis of Retail Sporting Goods company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Retail Sporting Goods in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.

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