Sporting goods are important sports essential equipment that is either used to play games or protect oneself during sports activity. These can be classified into apparel, equipment, and shoes and can be used for any type of game such as badminton, bike sports, football, rackets, etc. These products are gaining huge demand across a health-conscious consumer who is engaged in playing sports games. These products are light-weight, high-strength and offer improved performance sports goods are widely available across franchise outlets, specialty stores, online stores, and other outlets.
The Europe sporting goods market was estimated to be valued more than US$ 120 billion in terms of revenue in 2018 and is predicted to grow at a CAGR of 6.5% during the forecast period (2019 to 2027)
Growing disposable income in Europe and improving standard of living of people is expected to foster the market growth of sporting goods. According to the Coherent Market Insights, as per statistics released by Organization for Economic Co-operation and Development (OECD), the disposable income of households per capita for major 28 countries in Europe has increased significantly over the past few years. This factor is expected to fuel the market growth of Europe sporting goods over the forecast period.
Increasing focus of key companies to introduce female-specific consumers, both in terms of sports accessories and clothing, due to growing awareness among women regarding healthy lifestyle, fit, slow down the aging process is expected to augment the market growth of Europe sporting goods. According to the Coherent Market Insights analysis, women-specific brands such as Lululemon and Fabletic, etc., are being introduced in the market and are focused on catering to demand for technically advanced clothing, which is projected to boost the market growth of the Europe sporting goods market over the forecast period.
The growing usage of the internet leading to an increase in time spent on the internet and reducing interest in physical sports among young adults and teenagers is expected to hinder the market growth of Europe sporting goods. According to the Coherent Market Insights analysis, the number of younger individuals participating interactively/physically in actual physical sporting activities has been decreasing significantly in countries in Europe in the recent past. This factor is expected to restrict the demand for sports goods and in turn, hampering the growth of Europe sports goods market over the forecast timeframe.
Among product type, football dominated the Europe sporting goods market in 2018 with around 26% of market share in terms of revenue, followed by team sports and tennis, respectively.
Growing number of acquisitions among sporting goods retailers across Europe for expanding their presence within the region and cater to the growing demand for sporting goods among consumers is expected to foster the market growth over the forecast period. For instance, in March 2016, JD Sports Fashion plc., a U.K. based sports fashion retail company, announced plans to acquire 187 stores from Perry Sports and Aktiesport fascias – which are two retail chains owned by Unlimited Sports Group in the Netherlands and across Europe
Increasing number of acquisitions among sporting goods equipment manufacturers for enhancing product offerings and presence in Europe and to cater to rising demand for sports equipment in markets in the region is anticipated to augment the market growth over the forecast period. For instance, in June 2016, Shimano Europe Bike Holding Bv, a subsidiary of Shimano, Inc., which manufactures outdoor equipment such as mountaineering and trekking gear, and road bikes, etc., acquired Lazer Sport NV – a Belgium-based helmet company – in order to complement its product offerings.
Key players active in the Europe sporting goods market are Adidas AG, Nike, Inc., Under Armour, Inc., PUMA SE, Amer Sports, Odlo, Hammer Sports, Polar Electro, KETTLER, and WaterRower
Few Recent Developments
Under Armour, Inc.
By Product Type