Innovation-Based Discernment To Drive The Europe Sporting Goods Market

 The Europe sporting goods market is currently worth US$ 171.9 Bn, and is predicted to expand at a CAGR of 7.7% from 2022 to 2031. Increasing focus on health and fitness is a major trend that is prevalent across the world, and is hugely popular across Europe, which will propel the sales of sporting goods in the region. There has been substantial increase in the instances of obesity due to the rising sedentary lifestyle and bad eating habits of people in Europe, which has further bolstered the need for fitness. This rising fitness trend will favor the sales of sporting goods across the continent over the coming years.

europe-sporting-goods-market

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However, increasing popularity of digital games and rising prevalence of counterfeit products are expected to hinder Europe sporting goods market growth potential through the forecast period of 2022 to 2031.

Key manufacturers of sporting goods are focusing on launching new products to expand their sales revenue and increase their revenue potential.

  • In November 2021, Decathlon, a leading sporting goods retailer based in France, announced the launch of a new sports bra for breast cancer patients in lieu of making sports more accessible to women who are differently-abled.

Key Takeaways from Market Study

  • Consumption of sporting goods in Europe is anticipated to surge at a CAGR of 7.7% from 2022 to 2031.
  • Germany holds a major market share of 19% in the European market for sporting goods.
  • By 2031, the Europe sporting goods market is expected to reach a valuation of US$ 382.9 Bn.
  • Rising focus on health & fitness, increasing popularity of several sports, and rising disposable income are major factoring anticipated to drive Europe sporting goods market growth through 2031.

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Competitive Landscape

Europe sporting goods market players are investing in expanding their business scope through various mergers and acquisitions that will strengthen their stance in the European region.

Some of the key market players included in the report are Adidas AG, Nike Inc., Under Armour Inc., PUMA SE, Amer Sports, Odlo, Hammer Sports, Polar Electro, KETTLER, and WaterRower, besides others.

These have been identified as key manufacturers of sporting goods in Europe. These prominent market participants are following organic and inorganic marketing strategies to boost their sales potential.

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