Sports Protective Equipment Market Gears Up for Growth: To Reach US$ 14.2 Billion by 2032 | FMI

The sports protective equipment market is likely to hold the global market at a moderate CAGR of ~5.3% during the forecast period. The global market holds a forecasted revenue of ~US$ 8.5 Billion in 2022 and is likely to cross ~US$ 14.2 Billion by the end of 2032.

Global demand for sports protective equipment is picking up steadily, after a hiatus and recovery period after the global financial crisis. Increasing emphasis on maintaining health and well-being will continue to influence the market positively during the forecast period; however, growth will be offset by declining profit margins at brick-and-mortar stores.

Popularity of e-commerce websites and apps among millennials is anticipated to open up new growth avenues for manufacturers, as ease of buying, convenience, and discounts continue to play a major role in influencing buying decisions.

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The online retail market is growing at a robust pace, with many brick-and-mortar stores tying up with e-commerce sites to offer their products exclusively. Sales through e-commerce sites are expected to offset the sluggish growth through retail stores during the forecast period.

Product enhancement through R&D activities is expected to have a major impact on the global sports protective equipment market during the forecast period. In addition to this, rising participation at local level sport activities in colleges, schools, and universities is leading to sustained demand for sports equipment from these end-use industries.

In addition to this, rising prominence of national level events is projected to drive the global sports protective equipment market during the forecast period. Besides this, the prominence of online store in order to purchase sports protective equipment is expected to intensify the growth of sports protective equipment market worldwide.

This has supported the global sports protective equipment market to extend to a wide consumer base, which is expected to add up for the growth and development of sports protective equipment market worldwide.

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Geographically, the global Sports Protective Equipment industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa.  North America was the largest market for sports protective equipment in 2015, and is expected to maintain its numero uno position during the forecast period.

Europe and Asia Pacific excluding Japan (APEJ) are the second and third largest markets for sports protective equipment globally. Higher disposable income and robust economic growth in India, China and Japan is expected to fuel the market growth of Asia pacific region during 2016-2026.

Sports Protective Equipment Market Key Players

Some of the leading players identified across the value chain of the global sports protective equipment market include Adidas, Amer Sports, Nike, BRG sports, Under Armour, PUMA SE, Fortune Brands Inc, Dunlop Sports Group Americas Inc., Daiwa Seiko Corp., and Jaren Corporation.

Mergers and acquisitions and new product development is likely to be major strategies that manufacturers are expected to adopt in a bid to boost their positioning in the market.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, and applications.