Portland, OR, May 11, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global sports equipment and apparel market was pegged at $470.40 billion in 2019, and is projected to garner $817.17 billion by 2027, growing at a CAGR of 7.2% from 2020 to 2027.
Rise in sports and fitness awareness across the world and government initiatives toward sports activities &events have boosted the growth of the global sports equipment and apparel market. However, rising terrorism &political influenceon sports events and surge in the proclivity of kids in indoor leisure activities hamper the market growth. On the other hand, increase in contribution by various organizations toward donations and rapid growth of the online retail platform are expected to create lucrative opportunities in the near future.
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The global sports equipment and apparel market is divided on the basis of product, sports, distribution channel, and geography. Based on product, the market is segmented into equipment and apparel & shoes. The equipment segment held the largest share in 2019, accounting for more than half of the market and is projected to register the highest CAGR of 7.2% during the forecast period.
On the basis of sports, the market is segmented into bike, outdoor, tennis, other racket sports, running, fitness, football/soccer, other team sports, winter sports, watersports, and others. The fitness segment dominated in 2019, contributing to nearly one-fifth of the market. However, the outdoor segment is projected to reach 9.4% of the market.
Based on distribution channel, the market is categorized into online and offline. The offline segment dominated in 2019, accounting for more than three-fourths of the market. However, the online segment is projected to portray the highest CAGR of 7.2% during the forecast period.
The global sports equipment and apparel market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region is anticipated to register the highest CAGR of 10.1% during the forecast period. However, the market across North America held the largest share in 2019, accounting for more than one-fourth of the total revenue.
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The global sports equipment and apparel market report includes an in-depth analysis of the major market players such as Decathlon S.A., Adidas AG, Nike, Inc., Under Armour Inc., Puma SE, ASICS Corporation, Amer Sports Corporation, V.F. Corporation New Balance, Inc., and Sports Direct International Plc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.