Emerging markets to fuel sporting goods growth
A report from Global Industry Analysts, Inc., entitled ‘Sporting Goods: A Global Outlook’ indicates that the global sporting goods market will be driven by the diversity of sports activities, easy access to sports opportunities, higher purchasing power, greater indulgence in activities such as yoga, and the rising quality of sports facilities in line with higher levels of affluence. Strong growth in the coming years is expected to stem from Eastern Europe, Asia and Latin America.
The report states that the market for sporting goods has been boosted by a strong consumer emphasis on healthy lifestyles and greater indulgence in outdoor recreational sports, and pursuits, such as hiking, camping, rock climbing, backpacking, kayaking and fishing. A marked preference for sporting products that offer convenience, performance, flexibility and class is evident. The most successful products are likely to be those that combine performance and functionality, style and comfort.
Consumer preferences are likely to centre around contemporary sportswear fabrics such as lightweight, breathable micro-fibres, micro-fleece fibres, climate-control fabrics, nylon- blended cotton, Lycra Spandex and fleece fabric. The market, comprising sports apparel, athletic footwear and sports equipment, is expected to be influenced by high-end fashion.
The sports equipment market is expected to reflect healthy growth driven by increased participation in sports such as wind surfing, skateboarding, skiing, baseball/softball, water sports, golf, billiards and bowling.
