European Sporting Goods Market Size, Trends & Forecast
For the sporting goods industry, 2020 was the year of financial crises. That happened for the first time after 2007. The impact of COVID-19 was very big on the industry, and many brands, retailers, and manufacturers finished the year in the red zone. The sporting goods industry is changing now, and it is projected to surpass US$220 billion by the end of 2027 in terms of revenue. That is the CAGR growth of 6.5% during the period from 2019 until the projected year. Read the newest European Sports market trends and forecasts.
Sporting activities are becoming more popular and creating a buzz in the sports industry. As sports become more a part of our lifestyle, demand for sporting goods and equipment is expected to progress over the coming years.
Sports and leisure equipment market dynamics
The latest research from the WHO Childhood Obesity Surveillance Initiative (COSI) shows that southern European countries have the highest rate of child obesity. In Cyprus, Greece, Italy, Malta, San Marino, and Spain 1 in 5 boys are obese. Due to the growing prevalence of obesity in Europe, the demand for the sports and leisure equipment market has grown. With many initiatives to encourage people to participate in sports activities and improve the quality of their life, the European outdoor market will keep on growing.
On another note, sports market trends are experiencing shifts. Many rising collaborations between fashion and sports are a great opportunity for anyone in the sports and leisure equipment market to increase their consumer base. Demand for fashionable workout wear is increasing.
Other forecasts show that the growing textile industry in Europe will affect the growth of the sporting goods market. According to Euractiv, the value of UK textiles is worth almost US$ 9.8 billion to the economy and France ranks 3rd in the EU total textile turnover.
Europe Sporting goods market trends
- Health trends
Nowadays, health and wellness are at the center of everyone’s attention. After the COVID-19 impact, people focus their attention on a healthy lifestyle, weight loss, and strengthening their bodies.
The technology shift didn’t bypass the sports and the outdoors industry either. With advancements in technology, such as smart stadiums, smartwatches, GPS, and vibrating yoga pants - there are so many innovations in the market. This is something to take into consideration when planning your next steps in the market.
Leaders in the sports and leisure equipment market in Europe have one message to share with the world - sport is for everyone!
Key sporting goods market players
Leading sport and outdoor market players are brands you've probably heard about. Adidas AG, Nike Inc., Under Armour Inc., Puma SE, Hammer Sports, and KETTLER are just some of the names that are currently on the sporting goods scene. However, with many changes and trend switches in the industry people are trying to discover smaller brands. Especially those who are investing in sustainability.
If European expansion is a part of your business plans, you might want to learn more about your company's potential in the market. Our experts will be more than happy to chat with you about it. Feel free to schedule a call with our Vice President and step into the European market.
EuroDev, established in 1996 with an office in The Netherlands, has a single, defined purpose to help mid-sized North American companies expand their business in Europe. We have created a proven, successful business development model. Since our establishment, have partnered with over 500 companies to help them define and meet their European business goals. Services we are offering include Sales Outsourcing, HR Outsourcing, and Digital Marketing.
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