Sports equipment is a broad category that includes a wide range of devices and accessories used in different physical activities and sports. It is made up of gear meant for athletes and players, like a ball, bat, and other items. Sportswear is worn for physical activities such as hiking, jogging, and yoga. These products cover a wide range of demands for men, women, and kids. Sports gear differs depending on the sport in terms of materials, fit, and design because different sports put different demands on different body parts and are played in different environments. Football shirts, yoga trousers, jogging socks, baseball hats, and swimsuits are examples of sportswear.
Saudi Arabia Sports Equipment and Apparel Market Driving Factors and Challenges
Drivers: Several factors drive the sports equipment and apparel business in Saudi Arabia. First of all, the public's growing interest in fitness activities and growing health consciousness have increased demand for sportswear and equipment. Government programs encouraging sports participation and the construction of infrastructure, such as fitness centers and sports stadiums, have also fueled market expansion. The rise of the business has also been aided by Saudi Arabians' changing lifestyles and increasing disposable budgets, as well as their preference for athleisure clothing. In addition, the prominence of sports-related products has increased due to the impact of global athletic competitions and athlete sponsorships. Finally, improvements in e-commerce platforms have made it simpler to obtain a greater selection of sportswear and equipment, which has promoted market expansion and accessibility.
Challenges: Saudi Arabia continues to be a popular destination for counterfeit goods despite its strict rules regarding their management. A source claims that Saudi Arabian Customs eliminated over two million counterfeit goods in 2020, including apparel and sporting goods. Saudi Arabia currently supplies 3.3% of the world's counterfeit goods; throughout the past few years, the country's economy has been gradually growing. Fake goods hurt industry players' profits as well as the reputation of well-known companies, which prevents Saudi Arabia's sports apparel and equipment market from expanding.
Impact of COVID-19 on Saudi Arabia Sports Equipment and Apparel Market
The COVID-19 pandemic had a significant impact on the sportswear and equipment business in Saudi Arabia. Sales of sportswear and equipment plummeted as restrictions and lockdowns were implemented to impede the virus's spread. Outdoor activities, gym operations, and athletic events were all discontinued or drastically reduced. Companies in the sector experienced a drop in revenue and earnings as a result of customers choosing essentials above extravagance, such as athletic equipment. Retail establishments and online platforms found it challenging to maintain operations and fulfill orders due to delays in the supply chain and logistical issues. The market has started to recover, albeit more slowly, as a result of the resumption of sporting events and the gradual easing of regulations.
Saudi Arabia 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; AAA Sports, Al-Othaim Markets, DRH Sports, Flush Fashion KSA, Formative Sports, Jadawel International Group, Magic Sports, Nayef Sports, Sportone.
Saudi Arabia Sports Equipment and Apparel Market Segmentation:
By Product Type: Based on the Product Type, Saudi Arabia Sports Equipment and Apparel Market is segmented as; Sports Equipment, Sports Apparel.
By Distribution Channel: Based on the Distribution Channel, Saudi Arabia Sports Equipment and Apparel Market is segmented as; Online, Offline.
By Price Range: Based on the Price Range, Saudi Arabia Sports Equipment and Apparel Market is segmented as; Mass-Market/Affordable Mid-Range, Premium.
By Sport Specific: Based on the Sport Specific Saudi Arabia Sports Equipment and Apparel Market is segmented as; Soccer/Football, Basketball, Tennis, Fitness/Gym, Running, Swimming, Outdoor Sports, Indoor Sports, Others.
By Region: This research includes data for Eastern, Western, Southern, Northern.
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.