There are various national & international sports events conducted worldwide. These events are of prime importance and fuel the adoption of sports protection equipment. Major international sports events that are popular across the world include World Baseball Classic, Baseball World Series, FIBA Basketball World Cup, ICC Cricket World Cup, Super Bowl, FIFA World Cup, Golf Ryder Cup, Olympic Games, Commonwealth games, Asian Games, and others. Some regional sports events such as the Great Wall Marathon, Formula One Chinese Grand Prix, Huangshan Mountain Bike Festival in China and the U.S. Open in Golf, ATP World Tour Masters in tennis have driven the adoption of sports protective equipment in recent years and is expected to drive sports protective equipment market growth in the upcoming years.
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An increase in participation in sports activities positively impacts market growth. Participant numbers are on the rise in various sports worldwide. As per industry sources, the participation in sports for children aged above six has experienced a rapid rise over the past few years in the U.S. Participation in outdoor and racquet sports has remained consistent; however, rates in team sports, water sports, and other fitness sports have shown a consistent increase in the last few years. In , the figures reported for participation in individual, racquet, team, outdoor, winter, water, and fitness sports were 34.8, 13.5, 23.1, 48.4, 7.4, 14.2, and 61.5%, respectively which expected to boost the sports protective equipment market demands in the upcoming years
Online retailers have shown increased popularity as they facilitate faster delivery and easy return policies. Moreover, the increase in the number of sites offering free shipping of products has boosted product sales through online platforms. in Sports protective equipment market outlook, online retail provides access to a wide variety of products and price comparisons of different brands. As per a recent study, Europe witnessed 18–19% growth in e-commerce retail sales, with the UK, Germany, and France leading the e-commerce transactions. This trend is expected to drive online retail sales of the sport’s protective equipment market.
The value chain of the sports protective equipment market comprises various stages that add a unique value to the overall market. Each of these stages shares a specific value at their point of operation and, in turn, contributes to the competitive value of the end product provided.
Different materials used in the manufacture of sports protective gear include polycarbonate, acrylonitrile butadiene styrene, neoprene, polyethylene, polyurethane, polyurethane, polystyrene, polypropylene, Kevlar, and other fibers. The manufacturers procure all these materials from different vendors, design them as per the requirement and assemble them to form the desired equipment. The suppliers of these materials/components ensure a smooth supply in the manufacture and production stages and add value to the final product by supplying technically advanced raw materials for the equipment.
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These players are responsible for the design and manufacture of end-to-end equipment along with providing all the service requirements. Sports protective equipment is manufactured by several leading players in the market such as Amer Sports Corporation, Nike, and Puma. To effectively conceptualize and implement the design, these players keep track of changing consumer preferences.
The distributors of sports protective equipment comprise specialty retail stores that include sporting goods stores, specialty sports shops, specialty fitness, and other company-owned stores, multi-retail stores that include department stores, discount stores, and other warehouse clubs, online stores that include company’s owned online stores and other third-party e-commerce stores.
The end users of sports protective gear comprise consumers, college & high school authorities, and other sports clubs. Sports protective gear is worn by consumers across all age groups. Consumer spending on protective gear is on the rise in developed economies such as the U.S. As per the statistics, consumer expenditure in the country increased from $165 million to $218 million on helmets and other protective gear from to .
The sports protective equipment market is segmented into product type, area of protection, distribution channel, and region. Based on product type, the market is divided into helmets & other headgear, pads, guards, chest protectors, & gloves, protective eyewear, and face protection & mouth guards. Based on the area of protection, the market is segregated into head & face protective equipment, trunk & thorax protective equipment, upper extremity protective equipment, and lower extremity protective equipment. Based on distribution channel, the market is divided into specialty retail stores, multi-retail stores, and online stores & others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
North America held the major sports protective equipment market share in . The North American market has witnessed rapid adoption of sports protective gear in recent years. The U.S. is the leading market for such equipment globally and is expected to maintain its dominant position during the forecast period. Overall youth participation has been fairly stable over the years; however, has declined in some of the major sports in North America. As per the statistics, children aged 6–17 years in the U.S. are the most active in basketball, baseball, soccer (outdoor) , and football, which is exemplified by the youth participation statistics with the number pegged in thousands at 9, 694; 6, 711; 7, 656; and 2, 032, respectively. 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. ???????
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