United States Sports Equipment and Apparel Market
United States Sports Equipment and Apparel Market to expand at a CAGR of 8.3% During 2023–2029
Published | 12 January 2023
United States sports equipment and apparel market flourishing due to increasing focus on leading active lifestyles and appearing fit and growing female participation in professional and domestic sports and fitness activities.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated United States sports equipment and apparel market size at USD 117.45 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects United States sports equipment and apparel market size to grow at a CAGR of 8.3% reaching a value of USD 203.72 billion by 2029. People's increasing involvement in sports and leisure activities is one of the main factors fueling the expansion of the United States for sports equipment and apparel market. Growing stress management, rising health awareness, sedentary lifestyles, and the younger generation's openness to rapidly evolving trends are some of the elements that have an impact on market growth. The availability of sports apparel with improved features like moisture management, temperature control, and other performance-boosting qualities that prevent discomfort and potential injury has piqued consumers' interest, and it has been observed that these consumers are willing to pay a premium for these products. During the forecast period, the sports equipment market is expected to experience profitable growth opportunities due to rising disposable income, rising living standards, and rapid urbanization across numerous regions.
United States Sports Equipment and Apparel Market – Overview
Sports equipment or sporting goods, which include sports clothing, tools, gear, and materials, are frequently used to compete in sports or keep in shape. It is also employed to protect a person from harm while they engage in sports. The market is expected to grow as a result of young people adopting more cutting-edge sports technologies and fashion trends.
Increasing emphasis on fitness and sports
Sports education and training in educational institutions have significantly increased the emphasis on sports and fitness. As a result, many educational institutions provide training to scholars, allowing them to compete in various sports competitions. An increase in the number state, national, and international level competitions result in increased youth participation and interest in sports activities. It spurs the demand for sports equipment and apparels. This, in turn, is projected to fuel the growth of United States sports and apparel market during the period in analysis.
Challenge: Increasing consumer propensity for other leisure activities
Consumer propensity for leisure pursuits other than sports, such as movie watching, video gaming, and music festivals, is increasing. Sporting goods are also expensive and out of reach for many people. Few manufacturers may increase the weight of the equipment to increase the level of protection while playing the game, which may make the player uncomfortable. These unfavorable trends are anticipated to limit the growth of United States sports equipment and apparel market.
Impact of COVID-19 on United States Sports Equipment and Apparel Market
The country-wide lockdown and restrictions have caused a significant decline in the market for sports apparel and equipment in the United States. The manufacturing and supply chain operations were suspended for a while to help slow the virus's spread. Like other public spaces, gyms and health and fitness centers were closed for months to avoid crowding. Sportswear became less popular as people spent more time inside their homes, and everyday active wear gained popularity. International sporting competitions, such as the Wimbledon Tennis Championship, MotoGP World Championship, Euro 2020 Football Championship, Summer Olympics of 2020, World Athletics Indoor Championships of 2020, and Formula One were either postponed or canceled as a result of the pandemic. Consequently, sports equipment and apparel market suffered significant loss during the pandemic period. In Post pandemic, however, national and global sports events and people’s increasing focus on health and fitness are expected to drive the demand for sports equipment and apparels in the United States.
United States Sports Equipment and Apparel Market – By Sports Type
The United States sports equipment and apparel market is classified as Bike, Outdoor, Tennis, Running, Fitness Equipment, Football/Soccer, Winter Sports, Watersports, and other segments. The football/soccer segment dominated the sports equipment market. Basketball, soccer, and football are among the most popular ball sports among children and their parents across the country. This is one of the primary factors driving the expansion of the market for sports equipment and accessories. The massive number of athletic competitions and participatory tournaments hosted by schools across the United States is thought to be driving up demand for sports equipment and apparel.
United States sports equipment and apparel market is fiercely competitive. Prominent companies in the market include Adidas AG, Academy Sports + Outdoors, Amer Sports, Asics, Bass Pro Shops, Callaway Golf Company, Decathlon, Dick’s Sporting Goods, Escalade Inc., Fanatics, Inc., Fila Holdings Corp., Frasers Group plc, GAP INC., Gray-Nicolls, Gunn & Moore, Kappa, Lululemon Athletica, and Mizuno Corporation. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in United States sports equipment and apparel market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of United States Sports Equipment and Apparel Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in United States Sports Equipment and Apparel Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
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