United States Sports & Leisure Goods Market to be Dominated by Fitness Sports Equipment During the Forecast Period
Increasing number of product
launches and government initiatives regarding sports participation are the key
factors driving the sports & leisure goods market in the United States.
According to TechSci Research report, “United States Sports & Leisure Goods Market”- By Region, Competition
Forecast and Opportunities, 2018-2028”, US sports & leisure
goods market has expanded significantly in recent years. The tools,
materials, and equipment needed to compete in a sport vary depending on
the discipline and are referred to as sporting and leisure equipment. Balls,
netting, and safety equipment including helmets are just a few examples of the
equipment.
Sporting goods, also
referred to as sporting and leisure equipment, primarily refers to the tools,
supplies, and accessories required to compete in sports or for leisure
activities. Major examples of leisure equipment are fitness items, camping
gear, bicycles, gardening tools, and musical instruments. Today, people use
sports as a way to express themselves to make fashion statements in order to
influence general public and engage in social activities. However, the main
advantage of sports is the health benefits that it provides. A large number of
athletes from all over the world are drawn to national and international events
each year, which is quickly increasing demand for sports and leisure equipment.
Given the growing preference of customers, athletes, and gym staff for individualized
sports and leisure items, players are rapidly concentrating on product
development to meet the needs and expectations of consumers.
Owing to increasing participation
in various sports and rising consumer awareness regarding health and fitness,
the market for sports & leisure goods in the United States has seen
tremendous expansion over the past several years. Another important factor
fueling the market's expansion is the emergence of e-commerce. However, because
of rising demand in the nation, the price of a lot of sports equipment,
including ball sports, adventure sports, summer sports, winter sports, and
other sports equipment, is rising. The market is being driven by this
escalating demand, which is expected to create chances for market expansion in
the years to come. Other sporting goods include indoor and outdoor games such
as bowling, wheel sports, and pogo sticks. The market is expected to be driven during
the approaching years by the rising demand for these different types of sports
equipment in numerous locations. As a result, major manufacturers are creating
more innovative sports equipment products for their numerous customers.
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The United States sports
& leisure goods market is segmented on the basis of product type, distribution
channel, and region.
Based on product type, the
market is segmented into golf equipment, fitness sports equipment, adventure
sports equipment, ball sports equipment, and others. Among these, the fitness
sports equipment segment holds the leading share in the market during the
forecast period owing to rising product manufacturers, online sales channel,
and specialty stress focusing on innovative, stylish, and multifunctional
fitness goods.
Based on distribution
channels, the market is segmented into supermarkets/hypermarkets, specialty stores,
local sports shops, online, and others. Among these, the online segment is the fastest
growing segment in the market during the forecast period. Owing to their
extensive search capabilities, numerous filters, and straightforward product
categorization, online retail businesses allow customers to browse a wide
selection of products and assist in product purchases. Additional elements
driving up the popularity of online retail businesses and websites include the
accessibility of a variety of discounts and offers, and simple access to
product information. Over the course of the forecast period, these crucial
variables are anticipated to have a substantial impact on the segment's revenue
growth.
Based on region, the market
is segmented into South, West, Mid-West, North-East. Among these, the Mid-West
region holds the leading share in the market during the forecast period owing to
the increasing the availability of sports & leisure goods on various
e-commerce and retail stores in the region, which is driving the demand for the
sports & leisure goods market in the US.
Major operating companies
operating in the United States Sports & Leisure Goods Market are:
- Under Armour, Inc.
- Nike, Inc.
- Everlast Worldwide, Inc.
- Wilson Sporting Goods
- Franklin Sports, Inc.
- Cabela’s, Inc.
- Callaway Golf, Co.
- Dunlop Sports Group Americas, Inc.
- Quicksilver
- New Balance Athletics, Inc.
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“The industry is anticipated
to be driven during the forecast period owing to a rise in public
awareness of health and fitness. One of the main causes of this increase is the
desire for a healthier lifestyle and better living. It has therefore increased
the market potential for sporting and recreational equipment. Sports equipment
and items used for pleasure and leisure have seen increase in response because
of rising interest in physical and overall wellness. Products that are
specifically designed to satisfy the needs and expectations of potential
customers, athletes, and gym staff are now in demand. Due to this, top market
vendors now place a strong emphasis on creating products and equipment for
sports and leisure that are specifically tailored to the needs of the consumer,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
United
States Sports & Leisure Goods Market By Product Type (Golf Equipment,
Fitness Sports Equipment, Adventure Sports Equipment, Ball Sports Equipment,
and Others), By Distribution Channel (Supermarkets/Hypermarkets, Specialty
Stores, Local Sports Shops, Online, and Others),
By Region, By Company, Forecast & Opportunities, 2018-2028, has evaluated the future growth potential
of US sports & leisure goods market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the sports & leisure goods market in United States.
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