The roller sports product market is expected to grow at a CAGR of 7.8% during the forecast period of 2024 to 2032. Roller sports product market encompasses a variety of wheeled equipment, including roller skates, inline skates, skateboards, and scooters, catering to both recreational users and professional athletes. This market is driven by a resurgence in roller sports as both a leisure activity and a competitive sport, influenced by cultural trends and supported by community and urban infrastructure developments.
The boxing gear market is a dynamic sector, catering to the diverse needs of boxing enthusiasts and professionals alike. The boxing gear market is expected to grow at a CAGR of 5.8% during the forecast period of 2024 to 2032, fueled by the fitness boxing trend, growing participation in competitive boxing, and the rising popularity of Mixed Martial Arts. The surge in demand for training equipment and the emphasis on safety measures contribute to the market's positive trajectory. However, the challenge of counterfeit products requires ongoing efforts to safeguard the integrity of the market.
The fitness equipment market is expected to grow at a CAGR of 5.5% during the forecast period of 2024 to 2032, propelled by health consciousness, the home fitness boom, and technological innovations. However, affordability remains a challenge for certain segments. The segmentation highlights the dominance of cardio equipment and the growing influence of home consumers. Geographic trends underscore regional variations, while competitive insights emphasize strategic efforts to navigate this dynamic landscape.
The skateboard market is expected to grow at a CAGR of 3.8% during the forecast period of 2024 to 2032, driven by various factors that have contributed to its popularity among individuals of all age groups. In conclusion, the skateboard market is experiencing remarkable growth driven by the increasing popularity of skateboarding as a sport, its profound cultural influence, and the power of social media in promoting the activity. While safety concerns pose a significant restraint, the market is poised for expansion, especially among kids, teenagers, and adults.
The football merchandise market is expected to witness steady growth at a CAGR of 6.7% during the forecast period of 2024 to 2032, driven by the undying passion and love for the sport among fans worldwide. Football, often referred to as soccer in some regions, boasts a massive global fan base, making it one of the most popular sports globally. As a result, the market for football merchandise, including accessories, clothing, toys & games, and other related items, has thrived. The football merchandise market is poised for continued growth, driven by global fandom, the rise of women's football, and the increasing popularity among kids.
Sports betting is the act of placing a wager or bet on the outcome of a sports event. It is a popular form of gambling that involves predicting the results of various sports, such as football, basketball, baseball, soccer, horse racing, and many others. In sports betting, individuals, known as bettors or punters, place bets on the outcome of a specific game or tournament, either predicting which team or player will win or forecasting other aspects of the game, such as the total score or specific events within the match.
The non-athletic footwear market is expected to grow at a CAGR of 4.5% during the forecast period of 2024 to 2032. The market is a diverse sector within the global footwear industry, encompassing a wide range of footwear styles designed for everyday use, formal occasions, and fashion statements. The non-athletic footwear market is influenced by fashion and lifestyle trends, rising disposable income, and changing work attire norms. Despite economic uncertainties, the market continues to thrive, with lace-up and slip-on shoes being popular choices.
The mountain bike apparel market refers to the industry that manufactures and sells clothing and accessories specifically designed for mountain biking enthusiasts. This includes a wide range of products such as jerseys, shorts, pants, gloves, helmets, shoes, and protective gear. Mountain biking is a popular recreational activity and a competitive sport that involves riding bicycles off-road on rough terrains. As a result, mountain bike apparel is designed to provide comfort, protection, and performance-enhancing features to riders.
The global market for casual and sports insoles is expected to witness significant growth in the coming years, driven by the growing awareness about the importance of foot health and the rising demand for comfortable and supportive footwear. The market is expected to grow at a CAGR of 7% during the forecast period of 2024 to 2032.
Action cameras are becoming popular across the world to take pictures and videos especially during sports and adventure activities such as surfing, rock climbing, skydiving, paragliding, bungee jumping, scuba diving, snorkeling, caving, surfing and others. Action camera are easy to handle, compact in size and enables users to take high quality photos and videos which is motivating consumers to purchase these cameras over traditional cameras.
In 2021, the global market for sports equipment was valued at US $330 billion and is projected to develop at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2031. The market is growing as a result of continuous developments and rapid technological advancements designed to stay up with changing consumer tastes. The growing awareness of the advantages of a healthy lifestyle and the significance of sports and fitness activities is also driving the demand for such equipment. Among the industries negatively impacted by the Covid-19 pandemic is the athletic and fitness industry. Numerous tournaments and sporting events, including the Olympics, have been postponed or altered in structure. As a result, market participants are attempting to evaluate the repercussions of disrupted cash flows, uncertainties, and possible losses in long-term attendance and involvement.
The increasing popularity of national and international events, such as the World Cup of Soccer, the Olympic Games, and the Cricket World Cup, also contributes to the expansion of this market for sports equipment. Increasing instances of lifestyle-related health problems, such as stress and obesity, are encouraging more individuals to participate in outdoor and fitness activities, which is boosting demand for a variety of fitness and sports equipment. The availability of well-known worldwide sporting equipment brands contributes to product demand as well. Women's participation in sports is a significant component that will likely stimulate market expansion.
Businesses are attempting to increase market penetration by enhancing brand recognition through television and print advertisements, the internet, social media platforms, team sponsorships, and partnerships with the athletes of various sports and fitness aficionados. Furthermore, social media influencers and popular athletes are promoting numerous companies, which is anticipated to contribute to the expansion of the sports equipment industry. In the next years, it is anticipated that the gap will continue to narrow, which will have a beneficial effect on equipment demand. The gradual growth in spending on such equipment for children can be attributed to a greater understanding of the benefits of such games for their physical development. India and China are significant sports equipment markets. Increasing discretionary income and higher living conditions of consumers are significant drivers in the acceleration of product demand in these nations. In addition, low production costs and a robust manufacturing sector are anticipated to drive market expansion in Asia-Pacific.
When it comes to offering sports goods and equipment manufacturers and stakeholders comprehensive market information and strategic market solutions, Acute Market Reports is unparalleled. Our clients are able to make well-informed, timely business decisions thanks to the forward-thinking research approach we employ at Acute Market Reports. We partner with numerous organizations in the industry to provide our clients with the best available strategic research solutions.
