Sport
Athletic Equipment and Footwear Market to Reach $323.4 Bn, Globally, by 2025 at 8.6% CAGR: Allied Market Research
Sportswear and footwear have experienced upgradations in their features over the years. This factor drives the growth of the global athletic equipment and footwear market. On the other hand, the availability of counterfeit products restrains the growth to some extent. However, easy availability of such products on online portals and increase in accessibility & convenience of purchasing these products through the internet have paved a way for lucrative opportunities in the industry.
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Based on type, the equipment segment contributed to more than half of the global athletic equipment and footwear market share in 2018, and is anticipated to lead the trail by the end of 2025. The same segment would also grow at the fastest CAGR of 9.1% throughout the forecast period. This is due to widespread technological advancements, increased demand from the millennial, and extensive advertisements and promotions for the sport products across the world.
The outside USA segment had the major share in 2018-
Based on region, the market across outside USA held the major share in 2018, generating nearly three-fourths of the global athletic equipment and footwear market. The same region would also portray the fastest CAGR of 9.5% from 2021 to 2025. This is attributed to rapid urbanization, expansion of the sports industry, and technological advancements in the region.
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