Sports protective equipment is mandated by some sports authorities and is necessarily used as a preventive measure offering protection against sudden external impacts. The sports protective equipment market showed steady growth rate in the past few years, and is expected to continue this trend in the future. The sports protective equipment market is expected to grow at a CAGR of 3.5% to attain a market size of $8,678 million by 2022.
Eminence of national & international sports events, growth in consumer awareness regarding health & fitness, and rise in participation in sports activities have led to increased demand for sports protective gear, thereby supplementing the growth of sports protective equipment market. However, availability of low-quality and counterfeit products hinders the growth of the market. Trending online retail and increase in disposable income in emerging economies are expected to offer opportunities for the development of the market.
Global Sports Protective Equipment Market Segmentation
The report analyses the sports protective equipment market trends based on product type, area of protection, distribution channel, and geography. On the basis of product type, the market is segmented into helmets & other headgear, pads, guards, chest protectors & gloves, protective eyewear, and face protection & mouth guards.
Pads, guards, chest protectors & gloves, and protective eyewear collectively accounted for over 75% of the total sports protective equipment market share. In addition, the market is analyzed with respect to area of protection and is segmented into head & face protective equipment, trunk & thorax protective equipment, upper extremity protective equipment, and lower extremity protective equipment.
Head & face segment continues to dominate the market, and is expected to lead the market throughout the forecast period. Lower and upper extremity equipment are anticipated to witness higher growth rates globally. Developed economies have witnessed an increase in consumer spending on sports equipment. For instance, in the UK, as per the statistics, in 2015, an estimated 63,500 people spent 500 GBP or more on sports equipment (excluding fitness equipment and sports clothing). Such rise in levels of spending on sports equipment by consumers is projected to positively impact the market, thus driving the market growth. North America is expected to be the market leader throughout the analysis period.
TOP FACTORS IMPACTING GLOBAL SPORTS PROTECTIVE EQUIPMENT MARKET
Prominence of national & international sports events
Various national & international sports events across the world have increased the adoption of sports protective equipment in the recent years. Sports companies sponsor these events to gain maximum out of it. For instance, companies such as Adidas is the official sponsor of FIFA World Cup. Nike and Under Armour are other reputed companies who were the official suppliers at Rio, Brazil and 2014 Winter Olympics, respectively. Rise in number of such grand events is expected to continue to propel the market growth.
Rise in participation in sports activities
Participation in various sports activities at school, college, or university level is one among the driving factors of the market. Participation rates differ with respect to different generations. For instance, in 2015 in U.S., over 80% of Gen Z (born after year 2000) and 49% of Millennials (born between 1980 and 1999) were involved in high-calorie burning activities. About 48% of Gen X (born between 1965 and 1979) participated at least once a week in a fitness activity/sport, whereas Baby Boomers (born between 1945 and 1964) were reported to be the least active. Such increase in levels of participation is anticipated to propel the adoption of sports protection equipment.
Increase in consumer spending on sports protective equipment
Increase in consumer spending on sports equipment is witnessed in the recent years. As per the statistics, in 2015, an estimated 63,500 people in the UK spent 500 GBP or more on sports equipment (excluding fitness equipment and sports clothing). Such rise in levels of spending on sports equipment by consumers is expected to positively impact the sports protective equipment market, thus fueling the market growth.
Growth in consumer awareness regarding health & fitness
Rise in consumer awareness regarding the health benefits offered by indulging in physical activities positively impacted the market globally. Moreover, the interest for personal appearance is on a rise among the individuals, promoting health consciousness among them, and is expected to drive the growth of the market.
Regional sports protective equipment market share analysis (%)
Developed economies such as North America and Europe lead the market and are expected to maintain their dominance throughout the forecast period, owing to the prevalence of sports culture in these regions. In the year 2015, they collectively accounted for over 70% of the total sports protective equipment market size. Developing regions are expected to witness the rise in demand for sports gear, owing to the growth in penetration of sports such as football in Asia-Pacific and baseball & basketball in Brazil.
U.S.: The largest market for sports protective equipment
U.S. accounted for the largest percentage of sports protective equipment market share in 2015, and is expected to maintain its dominance throughout the forecast period. Overall youth participation is stable over the years, however, has declined in some of the major sports in North America. As per statistics, individuals aged between 6 and ‐17 years are observed to be most active in basketball (9,694), baseball (6,711), outdoor soccer (7,656), and football (2,032), in this region. However, the point of concern is that youth participation has declined in these sports by 6.80%, 4.30%, 8.40%, and 32.40%, respectively. The region has also witnessed growth in participation of the sports such as ice hockey and lacrosse by about 43.70% and 28.80%, respectively. Moreover, on account of high purchasing power, consumer spending is on a rise on helmets, mouth guards, protective eyewear, and other sports accessories in the recent years. This has led to the development of the market, and is expected to further supplement the market growth in the coming years.
U.S. Sports Protective Equipment Market Revenue, 2014-2022 ($Million)
Key market players profiled in the report are Adidas Ag, Nike Inc., Under Armour Inc., Puma SE, Amer Sports Corporation, Asics Corporation, Vista Outdoor, BRG Sports, Xenith, and Shock Doctor (Bregal Partners). They have adopted acquisition and partnership & agreements to capture a larger market share and increase their customer base. Prominent players such as Amer Sports Corporation and Vista outdoor have acquired other market players to sustain market competition.
Other players in the value chain include Billabong International, Dick’s Sporting Goods, Franklin Sports, and Mizuno Corporation.
- This study provides an in-depth sports protective equipment market analysis to elucidate the imminent investment pockets.
- The report provides information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
- Porter’s Five Forces analysis highlights the potency of suppliers & buyers and describes the competitive scenario of the market, which is expected to facilitate efficient business planning.
- Value chain analysis provides key inputs on role of key intermediaries involved, which is expected to assist the stakeholders to devise appropriate strategies.
- This report presents a detailed quantitative analysis of the current sports equipment market trends and future estimations to identify the prevailing market opportunities.
KEY MARKET SEGMENTS:
BY PRODUCT TYPE
- Helmets & Other Headgear
- Pads, Guards, Chest Protectors, & Gloves
- Protective Eyewear
- Face Protection & Mouth Guards
BY AREA OF PROTECTION
- Head & Face Protective Equipment
- Trunk & Thorax Protective Equipment
- Upper Extremity Protective Equipment
- Lower Extremity Protective Equipment
BY DISTRIBUTION CHANNEL
- Specialty Retail Stores
- Multi-Retail Stores
- Online Stores & Others
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Middle East
- Rest of LAMEA
MARKET PLAYERS IN THE VALUE CHAIN:
- Adidas Ag
- Nike Inc.
- Under Armour, Inc.
- Puma SE
- Amer Sports Corporation
- Asics Corporation
- Vista Outdoor
- Warrior Sports
- BRG Sports
- Shock Doctor (Bregal Partners)
- Billabong International
- Dick’s Sporting Goods
- Franklin Sports
- Mizuno Corporation