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Growing enthusiasm for sports in Europe is projected to boost the growth of Europe Sporting Goods market

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Gauri Cmi
Growing enthusiasm for sports in Europe is projected to boost the growth of Europe Sporting Goods market


The global Europe Sporting Goods Market is estimated to be valued at US$ 164.15 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The Europe Sporting Goods market involves a wide range of products that are used for sports activities and fitness purposes. Some key products in this market include sports apparel, footwear, equipment, and accessories. Sports apparel includes items like jerseys, sport socks, leggings, shorts, and sports bras. Footwear includes athletic shoes for various sports like running, basketball, football, tennis etc. Major equipment includes items for baseball, cricket, cycling, golf, gymnastics, hockey, martial arts, rugby, swimming, and team sports. Accessories include items like sport gloves, goggles, helmets, padding, fitness trackers and smartwatches. The growing health consciousness and adoption of active lifestyles have fueled the demand for various sporting goods in the region.

Market key trends:

One of the key trends in the Global Europe Sporting Goods Market is the growing popularity of outdoor and winter sports. Countries in Northern Europe experience snowfall during winters, which has boosted the demand for sporting goods for skiing, snowboarding, cross-country skiing, sledding, ice skating etc. Manufacturers are launching innovative products for winter sports along with apparel and accessories suited for colder weather conditions. Furthermore, there is an increasing participation in outdoors activities like hiking, camping, cycling, fishing etc. due to growing health awareness. This has led to new product launches catering to various outdoor sporting activities along with multi-purpose equipment. The market players are also focusing on utilizing new materials, designing products for specific sports and incorporating smart technologies to meet the evolving needs of customers.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate due to the presence of established brands and the high capital requirements for marketing and branding in the industry.

Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes and buyers can negotiate for better prices and discounts from various manufacturers.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many substitute raw material suppliers and manufacturers can switch to other suppliers if needed.

Threat of new substitutes: The threat of new substitutes is high due to constant innovation and adoption of new types of sporting goods and equipment by manufacturers.

Competitive rivalry: Intense competition between brands to gain market share.

Key Takeaways

The Europe sporting goods market size is expected to reach US$ 164.15 Bn in 2023 and is expected to grow at a CAGR of 6.8% over the forecast period. Growing health awareness among consumers in the region is majorly driving the market growth.

Regional analysis: Germany dominates the region with the largest market share owing to high participation in sports like football, basketball, and tennis. UK and France are other prominent markets due to rising number of health clubs and sports events held annually in these countries.

Key players: Key players active in the Europe sporting goods market are Adidas AG, Nike, Inc., Under Armour, Inc., PUMA SE, Amer Sports, Odlo, Hammer Sports, Polar Electro, KETTLER, and WaterRower. Adidas AG and Nike, Inc. together account for over 60% of the market share in the region.

 

Read More: https://www.trendingwebwire.com/europe-sporting-goods-market-scope/


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The Business Research Company published its Sporting And Athletic Goods Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global sporting and athletic goods market.

The report covers the sporting and athletic goods market’s segments- by type: fishing equipment; skating and skiing equipment; golf equipment; other sporting equipment, by distribution channel: online stores; specialty stores; convenience/departmental store; others, and by material: plastics; wood; metal; others.View Complete Report: https://www.thebusinessresearchcompany.com/report/sporting-and-athletic-goods-global-market-report-2020-30-covid-19-impact-and-recoverySporting And Athletic Goods Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.

The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.

It also compares the market’s historic and forecast growth.

It covers all the regions, key developed countries and major emerging markets.

The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Rise in demand for guards while playing has driven the market for 3D printed mouth guards due to its enhanced protection level while playing.

Wilson Rush Pro 3.5 Women's
racquetguys 2022-08-03
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Wilson Rush Pro 3. 5 Women's is a shoe that is a part of the Wilson Rush Pro line. Combined with its reflective elements that may help keep you safe during low-light conditions, this is one great running shoe on the market today. Wilson Rush Pro 3. 5 Women's is a great choice for those who are looking for a running shoe that provides comfort, durability and lightweight design. Nike Women's Air Zoom Pegasus 35 FLD Running ShoeThe Nike Women's Air Zoom Pegasus 35 FLD Running Shoe is a decidedly minimalist running shoe that will provide you with just about everything you need from a running shoe.
Purchase Sports Equipment Online For The Best Convenience And Selection
racesports 2022-11-17
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More and more individuals are choosing to purchase online due to the numerous advantages it has over more conventional methods of purchasing. The ideal approach to conduct business if you're interested in purchasing sports-related items, gear, and accessories is to purchase online. The following are a few significant advantages of purchasing sports equipment online:ConvenienceConvenience is the primary benefit of internet buying. Within a few minutes, you may choose, choose, and purchase the things you desire. You may shop at your convenience without being constrained by time or location when you use online retailers.
Sporting Goods, Hobby, Musical Instrument, And Book Stores Global Market Size, Share, Growth, Industry Outlook, Competitive Strategies and Forecasts to 2031
Santhosh 2022-09-13
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The Sporting Goods, Hobby, Musical Instrument, And Book Stores Global Market Report 2022 covers sporting goods, hobby, musical instrument, and book stores market drivers, sporting goods, hobby, musical instrument, and book stores market trends, sporting goods, hobby, musical instrument, and book stores market segments, sporting goods, hobby, musical instrument, and book stores market growth rate, sporting goods, hobby, musical instrument, and book stores market major players, and sporting goods, hobby, musical instrument, and book stores market size. com/report/sporting-goods-hobby-musical-instrument-and-book-stores-global-market-report The sporting goods, hobby, musical instrument, and book stores market report provides in-depth analysis of the impact of COVID-19 on the global sporting goods, hobby, musical instrument, and book stores industry along with revised market numbers due to the effects of the coronavirus and the expected sporting goods, hobby, musical instrument, and book stores market growth numbers for 2022-2031. The global sporting goods, hobby, musical instrument, and book stores market size is expected to grow from $430. The global sporting goods, hobby, musical instrument, and book store market size is expected to grow to $641. TBRC’s report covers the sporting goods, hobby, musical instrument, and book stores market segments- 1) By Type: Sporting Goods Stores, Hobby, Toy, Game Stores, Musical Instrument and Supplies Stores, Others2) By Ownership: Retail Chain, Independent Retailer3) By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer StoreThe table of contents in TBRC’s sporting goods, hobby, musical instrument, and book stores market report includes:1.