Sports Protective Equipment Market Size Worth $12.1 Billion By 2025
The global sports protective equipment market size is expected to reach USD 12.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.4% over the forecast period. The market is expected to witness significant growth owing to growing popularity of sports activities in schools and colleges.
Increasing popularity of outdoor games such as soccer and American football is expected to increase the demand for sports protective gears over the forecast period. Moreover, increasing number of sports leagues and outlets is expected to provide growth opportunities for the market in the coming years. In addition, sports clubs are raising awareness among people by conducting events at various places across the world, which will have a positive impact on the sports protective equipment market growth.
For instance, since 2007, the National Football League (NFL), one of the most popular sporting leagues in U.S., has organized several events in London to increase awareness regarding American football. In 2017, NFL organized four game events in London and around 84,500 fans came to watch the match between Jacksonville Jaguars and Baltimore Ravens at Wembley Stadium.
In 2018, the head and headgear product segment dominated the market and is expected to maintain its lead over the forecast period. The growth is attributed to increasing awareness regarding head injuries. For instance, Phillip Joel Hughes was an Australian Test and One Day International (ODI) cricketer who played domestic cricket for South Australia and Worcestershire, died during the match due to head injury, which has created awareness among the young enthusiastic players. Leg protection gears are expected to register the highest CAGR of 5.6% from 2019 to 2025. The segment growth is attributed to increase in the number of participants in individual sports, such as mixed martial arts, cycling, boxing, and skating.
North America was the largest regional market in 2018. U.S. was the major revenue contributor in North America. Increasing popularity of football, field hockey, and ice hockey is anticipated to drive the regional market over the forecast period. Asia Pacific is expected to expand at the fastest CAGR of 6.7% over the forecast period. Increasing number of sports equipment outlets in India and China and rising wealth and health awareness in the region is expected to have a positive impact on the market growth.
To request a sample copy:
Further key findings from the study suggest:
- By product, leg protection gear is projected to expand at the fastest CAGR of 5.6% over the forecast period. Head and headgear was valued at USD 2.8 billion in 2018 and is projected to witness significant growth in the next few years
- The offline distribution channel segment dominated the global market in 2018 with 92.0% share of the overall revenue
- North America dominated the global market in 2018 and accounted for 40.0% share in terms of revenue. This trend is projected to continue over the next few years
- Growing popularity of field sports at the national and international levels is expected to drive the market over the forecast period
- The industry is highly competitive due to presence of main players including Nike, Inc.; Adidas Group; MIZUNO Corporation; Shock Doctor, Inc.; BRG Sports; Amer Sports; Xenith, LLC; WARRIOR SPORTS; FRANKLIN SPORTS INC.; and Alpinestars S.p.A.
- Various manufacturers are concentrating on new product launches and product innovation in order to expand their consumer base.
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com