Sports equipment and apparel are intended to assist and improve athletic activity across a variety of sports and fitness activities. This product category caters to both professional athletes and recreational enthusiasts, providing functional and performance-driven solutions to help with training, competition, and leisure activities. Products including balls, bats, rackets, clubs, sticks, netting, goalposts, protective gear, and fitness accessories are all considered sports equipment. Each form of equipment has a unique purpose, customised to the needs of various athletic disciplines.
Europe Sports Equipment and Apparel Market Driving Factors and Challenges
Drivers: The sports equipment market is rapidly evolving as a result of increased acceptance of modern sports technologies and the most recent trends among the youth population. The introduction of novel products allows firms to remain competitive in the market, attract new customers, and meet the needs of existing customers. The growing number of spectators attending major athletic events, such as the Olympics, FIFA, Indian Premier League, and others, boosts demand for sportswear and equipment, propelling the market's expansion. Furthermore, the increasing popularity of sports and fitness activities among young people drives the total expansion of the sports equipment and apparel industry.
Challenges: The growing inclination towards indoor activities like playing video games and the increasing usage of cellphones among young people as a result of increased internet penetration have a negative impact on the market's growth. Additionally, the expansion of the sports equipment and apparel business is hampered by customers' inclination towards alternative leisure activities like viewing movies, playing virtual reality games, attending live music performances, and so on. Furthermore, because sports have a seasonal nature, people tend to favour other leisure activities when the sports season ends, which hinders market expansion.
Impact of COVID-19 on Europe Sports Equipment and Apparel Market
The COVID-19 pandemic had a major effect on several businesses and the economy. In order to stop the epidemic from spreading, governments all over the world implemented lockdowns and other restrictions as a result of this situation. The closing of fitness centres and sports complexes resulted in a sharp drop in product demand. But when the ban began to loosen, gyms and sports facilities reopened, which led to a strong demand for sportswear. To meet the increasing demand for these products and support the market's recovery, some industry leaders, such as Nike, Adidas AG, and others, increased the scope of their omnichannel services. For example, the American sportswear business Alice and Olive debuted a new campaign for a direct-to-customer web channel in January 2021.
Europe Sports Equipment and Apparel Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; SKECHERS USA, INC, YONEX Co, Ltd, Nike, Inc, Under Armour, Inc, ASICS Corporation, Columbia Sportswear Company, FILA Luxembourg, S.a.r.l, Amer Sports, CFBRAZIL Fitness & Beach Wear, Formative Sports, Patagonia, Inc, ADIDAS AG, PUMA SE, Lotto Spa, Diadora S.p.A.
Europe Sports Equipment and Apparel Market Segmentation:
By Product Type: Based on the Product Type, Europe Sports Equipment and Apparel Market is segmented as; Equipment, Apparel & Shoes.
By Sports Type: Based on the Sports Type, Europe Sports Equipment and Apparel Market is segmented as; Bike, Outdoor, Tennis, Other racket sports, Running, Fitness, Football/Soccer, Other team sports, Winter sports, Water sports, others.
By Distribution Channel: Based on the Distribution Channel, Europe Sports Equipment and Apparel Market is segmented as; Online, Offline.
By Region: This research includes data for Germany, Italy, UK, Russia, France and the Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.