Introduction:
The Europe sporting goods market is a highly competitive and rapidly growing industry. The market encompasses various products, including sports equipment, sports apparel, and sports footwear, among others. The region is home to several leading sporting goods manufacturers and retailers, including Adidas, Puma, Decathlon, and Intersport, among others.
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Market Size and Trends:
In 2021, the Europe sporting goods market was valued at US$ 171.9 Bn, and the market is projected to expand at a high CAGR of 7.7% through 2031. Sales revenue from sporting goods in Europe is estimated to reach US$ 382.9 Bn by the end of 2031. The market growth is primarily driven by the increasing popularity of sports and fitness activities, the growing awareness about the health benefits of sports and fitness activities, and the increasing disposable income of consumers.
The sports equipment segment dominates the Europe sporting goods market, accounting for a significant share of the market revenue. Within the sports equipment segment, the fitness equipment sub-segment is expected to witness the highest growth during the forecast period. The sports apparel segment is also expected to witness significant growth during the forecast period, driven by the increasing demand for fashionable and comfortable sports apparel.
Another significant trend in the Europe sporting goods market is the growing demand for eco-friendly and sustainable sporting goods. Consumers are increasingly concerned about the environmental impact of their products and are therefore opting for eco-friendly and sustainable options.
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Market Segmentations
Sporting Category:
- Football
- Team Sports
- Bike Sports
- Tennis
- Racket Sports
- Outdoor Sports
- Fitness
- Running
- Water Sports
- Winter Sports
- Golf
- Other Sports
Product Type:
- Sporting Apparel
- Sporting Equipment
- Sports Shoes
Distribution Channel:
- Offline Sales of Sporting Goods
- Modern Trade
- Departmental Stores
- Specialty Stores
- Mono Brand Stores
- Online Sales of Sporting Goods
Regional Analysis:
Western Europe dominates the Europe sporting goods market, accounting for the largest share of the market revenue. The region is home to several leading sporting goods manufacturers and retailers, including Adidas, Puma, Decathlon, and Intersport, among others. The increasing popularity of sports and fitness activities in the region, coupled with the growing awareness about the health benefits of sports and fitness activities, is driving the demand for sporting goods in Western Europe.
Eastern Europe is also expected to witness significant growth in the Europe sporting goods market, driven by the increasing disposable income of consumers and the growing popularity of sports and fitness activities in the region.
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Key Players:
The key players in the Europe sporting goods market include Adidas AG, Nike Inc., Under Armour Inc., PUMA SE, Amer Sports, Odlo, Hammer Sports, Polar Electro, KETTLER, WaterRower. These players are focusing on product innovation and expanding their product portfolios to meet the changing demands of consumers in the Europe sporting goods market.
Read More Trending “PMR Exclusive Article”- https://www.globenewswire.com/en/news-release/2022/05/30/2452355/0/en/Europe-Sporting-Goods-Market-is-projected-to-expand-at-a-high-CAGR-of-7-7-through-2031.html
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