The European sporting goods market size was valued at US$ 54.08 billion in 2018. It is anticipated to register a CAGR of 4.6% over the forecast period to reach US$ 66.6 billion by 2023. The growth of the sporting goods market is driven by the increased in sports participation of the people, rising health awareness and continual innovations to meet the demand of consumer preferences. Moreover, this trend is expected to hold for the years 2019 to 2023. Looking at the European international trade in sporting goods from 2007 to 2018, the lowest export and import figures expressed in billion EUR were observed in 2009. This is probably due to the global financial and economic crisis that began a year earlier. It is in 2010 that the figures for exports and imports showed the signs of recovery both in absolute and in relative terms. China is the major supplier of sports clothing in Europe with 38% of the total sporting goods import from the developing nations in the region in 2017. The United States was the most common destination for goods exported from Europe (17 %), followed by the Cayman Islands (14 %)

What are sporting goods? Sporting goods are also referred to as sporting equipment. It depends on different forms of sports. These sports equipment comes in a varying range starting from balls, to nets, and to protective gear like helmets. It can be used as a tool or as protector which helps the athlete from playing the sport without being worried about any physical damages. From past few years, these equipments have evolved immensely as sports have started to feel the need to have more protective gear to prevent injuries. In addition, these sporting goods are easily available in any department stores.

The latest survey on European Sporting Goods Market is conducted covering various organizations of the industry from different geographies to come up with a 100+ page report. The study is a perfect mix of qualitative and quantitative information highlighting key market developments, challenges that industry and competition are facing along with gap analysis and new opportunities available and trend in European Sporting Goods Market. The report bridges the historical data from 2013 to 2018 and forecasted till 2026. The report aims to present the analysis of European Sporting Goods Market By Material, By Process, By Application, By Region — North America, Europe, South America, Asia-Pacific, Middle East, and Africa. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities

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European Sporting Goods Market By Region

European Sporting Goods Market Outlook: In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.

Rising obesity among the Europe population due to a modern and hectic lifestyle is a prime factor which has turn increasing demand for sporting goods in Europe so as to improve the quality of life. Moreover, increasing health and wellness awareness among the female population, increasing intake of high-calorie processed food, and prolonged desk-bound jobs are major causes which are responsible for rising obesity which in turn is increasing the demand for sporting goods equipment. Also, increasing disposable income is a factor which is projected to increase the revenue growth of Europe sporting goods equipment in the coming years.

European Sporting Goods Market Competitive Landscape: The “European Sporting Goods Market” study report will provide a valuable insight with an emphasis on European market including some of the major players such as Adidas AG, Nike Inc., Under Armour Inc., PUMA SE, Amer Sports, Odlo, Hammer Sports, Polar Electro, KETTLER, and WaterRower Inc. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

The European sporting goods market is highly competitive, with several international as well as domestic players present in the market which include Adidas AG, Nike Inc., Under Armour Inc., PUMA SE, Amer Sports, Odlo, Hammer Sports, Polar Electro, and others. The domestic manufacturers will continue to collaborate with global players to develop high-end products for local consumers.

European sporting goods market

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Industry Challenges

• Increasing Time Spent by younger generation on the Major Media: One of the major challenges for the growth of the sporting goods market in Europe is the increasing time spent on the internet, mobile device games, and other related non-physical activities by the younger generation that has kept many children away from playing sports. In 2018, the average European spent 10 hours and 18 minutes consuming major media every day. In 2016, 91% of young people in the EU made daily use of the internet, compared with 71% for the whole EU population. This trend has diminished the demand for sports goods and products in Europe and is one of the main factors hampering the growth of the Europe sporting goods market
• Rising Environmental Concerns: The growing environmental concerns with respect to various materials such as synthetic rubber used in sports footwear is expected to restrain market growth. Hence, various sports footwear companies are focusing on taking initiatives with an objective to reduce the environmental impact of sports footwear. For example, Nike Inc. launched the MAKING app which aims to facilitate the producers and designers in monitoring and tracking the environmental effect of materials used in these products.
• Unfavorable weather conditions: Unfavorable weather conditions can also become a challenge to market success. If people cannot play sports due to bad weather, they are not going to buy as much equipment. For example, in 2004, companies experienced setbacks in the snowboard market due to the late snow and start of the winter sports season; and in the tennis market, due to the bad weather conditions during the summer months, tennis equipment sales dropped.
• Competing with global brands: Governments in several European countries have introduced sports programs in schools and academic institutions. The biggest challenge for manufacturers of sporting goods is competing with global brands. As a majority of European consumers stick to global brands like Puma, Adidas, and Nike, it is not easy for new brand names to change those preferences and penetrate the market.

Top Market Opportunities

• Increasing demand of trendy fitness goods: One of the latest trends in the market is a combination of trendy and fashionable designs for the development of sporting goods. These trends have led the companies to launch new products to meet the demand of the customers. For example, with advancements in sensor technologies, consumers are increasingly demanding equipment that can provide them with relevant insights into performance. The increasing demand of trendy fitness goods by the middle-aged individuals segment has increased in the past few years.
• Shift from traditional brands to DTC brands: By avoiding the retail markup enables DTC to offer a combination of better design, qual­ity, service, and lower prices. The growth strategy is working and core brands such as Vans are taping the opportunties. The skateboard footwear brand reported a 21% revenue increase in 2018 driven by digital partners and key strategic accounts.
• Increasing demand for lightweight materials and advanced technologies: The constant improvements in materials used for manufacturing of sporting goods are helping enhance sporting goods performance, thereby boosting the adoption rate. For instance, Adidas’ recent partnership with Carbon, a 3D printing company, may prove to be the start of a revolution how sports footwear is manufactured.
• Rising Popularity of Athleisure’s wear: The popularity of ‘athleisure’ wear, a moniker combining athletics and leisure, is soaring in Europe. Women are increasingly wearing performance and sports-inspired clothes for everyday casualwear, attracted by the flexibility such items give to busy schedules. Retailer can tap into ‘athleisure’ trend as a rise in demand for women’s sportsapparel sales is expected to rise by 11.6%.

European Sporting Goods Market Key Questions Answers

• What Factors are estimated to drive and restrain the market growth?
• What are market size and Growth rate of the European and regional markets by Various Segments?
• Which Regio or Sub Segment is expected to drive the market in the forecast period?
• What is market size and Growth rate of the market For selective Countries?
• What are the key companies operating in the market?
• What are the key opportunities in the market?
• Which company accounted or the highest market share?
• What are the key technological and market trends shaping the market?

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