Sporting Goods Market

Sporting Goods Market to Approach € 187.48 Bn by 2024
Increasing participation of European consumers in a range of sporting events, most preferably
football, has spurred the demand for sporting goods and accessories in the region. Growing
consciousness of consumers towards their health and wellness needs has created a steady source for
demand in Europe’s sporting goods market. Manufacturers of footwear, athletic apparel, and other
sports products are increasing their production capacities to meet the brimming demands.
An exclusive Persistence Market Research study on Europe’s sporting goods market projects that
domestic manufacturers will continue to collaborate with global players to develop high-end
products for local consumers. Companies such as PUMA SE, Odlo, Hammer Sports,
Nike Inc., Adidas AG, Under Armour Inc., Amer Sports, KETTLER, Polar Electro, and
WaterRower Inc. are some of the leading manufacturers of sporting goods in Europe, and have been
profiled extensively in the report.Considering the diversity in sports being played across different
countries in Europe, sporting goods manufacturers are developing their strategies for business
growth accordingly. The study has revealed that prominent sports categories for European
consumers include water sports, winter sports, racket sports, bike sports, running, tennis, fitness,
golf, teamsports and football.
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Germany to Represent Largest Market for Football Sporting Goods : In European and
international football events, Germany continues to be recognized as a championing participant.
Almost every other consumer in Germany is a football enthusiast. Neighboring countries such as
France, Belgium and the Netherlands are also witnessing an active inclination of consumers towards
this sport. Leading sporting goods manufacturers such as Nike are changing the designs of studs and
other accessories to meet the requirements of German footballers. Over the near future, a majority
of sales of sporting goods in Europe will remain concentered in Germany. The study reveals that in
2016, nearly one-fourth of revenues procured in Europe’s sporting goods market will be accounted
by football and its predominant presence in countries like Germany. The study further reveals that
the sporting goods market in Germany will hold a 30.5% share on Europe’s sporting goods market
value by the end of the forecast period.
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Key Challenges for Sporting Goods Retailers in Europe : Changing purchasing habits of
consumers are playing a key role in the sales of sporting goods across Europe. Several sporting
goods manufacturers are struggling find successful growth in retail sales as European consumers are
opting for online purchases. The sales of sporting goods in retail outlets across Europe is
considerably dwindling with emergence of e-commerce platforms. While upsurge in online sales is
favoring the expansion of Europe’s overall sporting goods market, manufacturers are forced to
adopt direct-to-customer business models, which leads to abruptly ending their strong rapport with
retailers.
Governments in several European countries have introduced sports programs in schools and
academic institutions. However, lobbying by local brands to secure such bulk contracts is
fragmenting the sporting goods competition landscape in Europe. The biggest challenge for
manufacturers of sporting goods in Europe is competing with global brands. As a majority of
European consumers stick to the global brands like Puma, Adidas and Nike, niche players or
emerging manufacturers are left with minimum leeway to penetrate the market.
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The study also reveals a consistency in the prices of sportswear in Europe’s sporting goods market.
While some brands continue to hike the prices on their offerings, local sporting goods
manufacturers in the region are capturing the demands for consumers in middle- and low-income
groups. Through 2024, the sporting goods market in Europe will witness a steady expansion,
anticipating that its contribution to global sporting goods revenues will incur a considerable uptick.
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