The global retail sporting goods market is anticipated to grow at a CAGR of 8.2% during the forecast period (2022-2028). The increase in sports and fitness consciousness around the globe has contributed to the growth of the retail sporting goods market. Secondly, the demand for retail athletic products is fueled by an increase in spending on sports training and development among youth, owing to a greater awareness of the benefits of participating in sports activities, such as better focus and problem-solving ability. Furthermore, the shifting educational paradigm encourages the growth of the sports business and related industries. Also, the rising use of sports education and sports training in academics has improved public awareness of sports and fitness. As a result, many schools and educational institutions provide students with training and opportunities to compete in various sports tournaments. Furthermore, the rise in the state, national, and global tournaments organized by various governments around the globe leads to increase youth engagement and interest in sports. As a result, demand for retail sporting products rises, contributing significantly to the market’s total growth.
A busy and chaotic lifestyle, combined with an increasing number of individuals selecting outdoor activities such as adventure sports and outings to decompress or break the monotony of their everyday lives, all contribute to the retail sporting goods market’s rise. Furthermore, many governments’ endeavors to encourage sports, health, and fitness have resulted in a greater awareness of sports and sports-related items, which fuels the market’s growth.
Some major players in the market include Adidas AG, Foot Locker, Inc., Nike, Inc., PUMA SE, and Rudolf Dassler, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market.
Adidas AG offers adidas x LEGO Sport Shoes. These kids’ adidas running shoes keep their LEGO® bricks linked to their feet, so they won’t lose them. The bright sneakers include a sturdy textile upper with easy-to-tie elastic laces and a hook-and-loop strap for a secure fit. With them, playtime is constant. Prime blue, a high-performance recycled material developed in part with Parley Ocean Plastic, was used to create this product. The top is made up of 50 percent textile and 75 percent Primeblue yarn. There is no virgin polyester.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Adidas AG, Foot Locker, Inc., Nike, Inc., PUMA SE, and Rudolf Dassler, among others.
A full report Retail Sporting Goods Market of is available at: https://orionmarketreports.com/global-retail-sporting-goods-market/108862/
Global Retail Sporting goods Market Report by Segment
By Type
- Athletic Apparel
- Athletic Footwear
- Sports Equipment
- Others
By Application
- Men
- Women
- Children
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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