According to a report by market research firm coherent market insights, the revenue of European sporting goods market will exceed US $220 billion in 2027, with an average annual compound growth rate of 6.5% from 2019 to 2027.
With the change of market, the growth of sporting goods market is affected by driving factors. European public pay more and more attention to health. With the enhancement of fitness awareness, people bring sports into their daily life and work after busy work. Especially in some areas, the rising prevalence of obesity affects people’s purchase of sporting goods.
The sporting goods industry has some seasonal characteristics, which will also affect the sales of online products. At present, European consumers who buy sporting goods on online platforms are mainly young people, and their most concern is whether they will encounter counterfeit products when buying online goods, and pay more attention to quality and style.
The importance of DTC (direct to customers) channel sales and distribution of sports products is increasing. With the improvement and popularization of e-commerce platform sales technology, European consumers’ demand for sports and leisure products will surge. Taking Germany as an example, the online channel sales of affordable sports products will rise.
Outdoor sports in Europe are developing rapidly. People are keen to exercise and fitness outdoors. The number of participants in mountaineering is increasing. In addition to traditional Alpine sports such as mountaineering hiking, mountaineering and skiing, modern rock climbing is also loved by people. The number of participants in competitive rock climbing, unarmed rock climbing and indoor rock climbing is increasing, especially young people love rock climbing. In Germany alone, there are 350 walls for indoor rock climbing.
In Europe, football is very popular, and the number of women’s football players has increased rapidly recently. Thanks to the above two factors, European collective sports have maintained a rapid development momentum. At the same time, the popularity of running continues to rise, because the personalized trend promotes the development of running. Everyone can decide the time, place and partner of running. Almost all big cities in Germany and many cities in Europe organize marathons or open-air running competitions.
Female consumers have become one of the important driving forces to promote the growth of sporting goods market. For example, in the field of outdoor products sales, women are one of the continuous driving forces driving its growth. This explains why more and more big brands launch women’s products. In the past few years, the sales of outdoor products have maintained a rapid growth, of which women have contributed, because more than 40% of European rock climbers are women.
The growth brought by innovation in outdoor clothing, outdoor shoes and outdoor equipment will continue. The improvement of high-tech materials and technology will further improve the function of outdoor equipment, and this will be the most important standard for outdoor clothing, outdoor shoes and outdoor equipment. In addition, consumers also require sporting goods manufacturers to pay attention to sustainable development and environmental protection. Especially in Western European countries, people’s awareness of environmental protection is becoming stronger and stronger.
The integration of sports and fashion will promote the growth of European sporting goods market. Sportswear is more and more casual and suitable for daily wear. Among them, the difference between functional outdoor clothing and outdoor fashion clothing is becoming more and more blurred. For outdoor clothing, functionality is no longer the highest standard. Functionality and fashion are indispensable and complement each other. For example, windproof function, waterproof function and air permeability were originally the standards of outdoor clothing, but now they have become essential functions of leisure and fashion clothing.
The high market entry threshold may hinder the further growth of the European sporting goods market. For example, for foreign sporting goods manufacturers or dealers, it is very difficult to enter the German and French markets, which may lead to a downward trend in the revenue of the regional sporting goods market.
Post time: Dec-22-2021