The sports equipment and footwear market is projected to reach $ 323.4 billion by 2025
PORTLAND, OR, UNITED STATES, Aug 25, 2021 /EINPresswire.com/ – “Sports Equipment and Footwear Market: Global Opportunity Analysis and Industry Forecast, 2021-2025,” The Sports Equipment and Footwear Market was $ 224.7 billion in 2018 -Dollar. and is projected to reach $ 323.4 billion by 2025, recording a CAGR of 8.6% from 2021 to 2025.
The alarming rise in obesity prevalence, particularly in urban areas, complements the growth in the fitness and exercise equipment market. A shocking increase in the number of obese people has been observed around the world. According to the WHO, over 340 million children and adolescents between the ages of 5 and 19 were overweight or obese in 2016. Obesity has been linked to a number of health problems such as sudden cardiac arrest, high blood pressure, hypotension, and diabetes. Therefore, to lose weight, relieve stress, and improve blood circulation, obese people tend to use fitness and exercise equipment, which is fueling global demand in the sports equipment and footwear market.
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Dedicated players in the sports equipment and footwear industries use a variety of marketing strategies to increase their product penetration among consumers. These strategies include celebrity support, event organization, and social media marketing. In addition, leading players in the industry are now investing heavily in digital platforms to market their products. In addition, leading players in the fitness industry are live streaming online workouts to promote their brands to the target audience. For example, Technogym – a company specializing in equipment manufacturing and digital technologies for fitness, sport and health – presented the new digital platform TECHNOGYM LIVE, which enables end users to have fitness sessions at home. In addition, leading players in the industry are integrating their platforms to offer additional training experiences such as group cycling, running, rowing and boxing. Investments in such corporate activities have resulted in widespread promotions that are likely to fuel the expansion of the sports equipment and footwear market in the years to come.
The sports equipment and shoes market includes athletic shoes, including hiking / running shoes, sneakers, cross-training / fitness / aerobic shoes, hiking shoes / boots, basketball shoes, sports sandals, tennis shoes, boat / deck shoes, hunting shoes, baseball shoes, skateboarding shoes , Golf shoes, soccer shoes, cheerleading shoes, cycling shoes, water sports shoes, bowling shoes, running shoes, volleyball shoes and wrestling shoes.
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In addition, the sports and equipment considered for the global analysis include archery, backpacks, badminton sets, baseball, basketballs, bicycles, billiards / pool cue sticks, binoculars, bowling, sports, sunglasses, fishing, soccer balls, golf, sports helmets , Ice hockey, inline skates, lacrosse sticks, paintball guns, sticks, scooters and skateboards.
The sports sector was hard hit during the outbreak of the COVID-19 pandemic. Many sporting events were postponed or canceled during the outbreak. For example, the Tokyo Summer Olympics and Paralympic Games were canceled due to this global health crisis that hampered the growth of the market. In addition, the global sports equipment and footwear market was badly affected as the outbreak resulted in the closure of sports facilities, state sports activities, gyms, gyms, parks, and schools and colleges. This further led to a decline in participation in regular physical or sporting activities, which in turn hampered demand in the sports equipment and footwear market.
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August 25, 2021, 4:28 PM GMT
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