Sports Luggage Market Accelerates To Hit USD 2.47 Billion By 2025

The global sports luggage market size has been valued at USD 2.47 billion in 2025, expanding at a CAGR of 3.5% over the forecast period, according to Grand View Research, Inc. Rising interest and participation in sports is the primary factor driving the demand. The growing obesity epidemic, especially in the young generation, is boosting participation in sports. Moreover, factors such as growing sports tourism along with increasing interest to get broadcasted in various media channels are anticipated to drive the market growth.
As per a study conducted by Aspen Institute, 35.0% of males and 39.5% of females in the U.S. are overweight. A high percentage of obesity among children from the age of 5 to 17 years is expected to drive participation in sports. As per the Sports & Fitness Industry Association (SFIA), the percentage of children with no physical activity has been dropping consistently. As such, a rise in sports activities in the U.S. and other parts of the world indicates a significant growth opportunity for the sports luggage market.
Increasing sports expenditure owing to rising disposable income is likely to boost the demand for sports luggage over the forecasted period. Also, the companies focus on sponsorships and partnerships to gain traction, which is a major factor driving the market. For instance, in 2019, Nike extended their technical partnership with Brighton and Hove Albion for three years to supply playing and training kit to the men’s and women’s teams in the Premier League. In January 2016, Dwayne Johnson entered into a partnership with Under Armour and launched their first product with two limited-edition bags from Project Rock. These bags are unisex and resistant to water and abrasion.
Asia Pacific held the largest share of the global market for sports luggage. The growing popularity of ball sports, such as football, basketball, and volleyball, is projected to drive the demand for ball sports luggage. As per the Australian Sports Commission, children from age group 12 to 14 years had the highest participation in ball sports - 27.4% in football, 22.1% in Australian football, 18.0% in Basketball, 17.4% in Cricket, and 11.5% in Tennis. This factor is anticipated to drive the product demand in near future.
The golf luggage is also estimated to witness significant growth over the forecasted period. According to the Participation Report published by the National Golf Foundation, in 2018, approximately 4.2 million baby boomers played golf, an increase from 3.6 million in 2017. North America held the second-largest market share in 2018 and is estimated to remain consistent over the forecasted period owing to an increase in the number of youth participants in sports and recreational activities.
China sports luggage market size

Request a free sample copy or view report summary: Sports Luggage Market Report

Sports Luggage Market Report Highlights

  • The ball sports segment is projected to ascend at the fastest CAGR of over 4% during the forecast period, owing to increasing interest as well as participation in golf
  • The online distribution channel is estimated to expand at the fastest CAGR of 4.6% over the forecasted period
  • Asia Pacific is estimated to be the largest and fastest-growing market for sports luggage over the forecast period, owing to rising participation in sports along with the increasing disposable income of the middle-class
  • Some of the major players operating in the sports luggage market are Adidas AG; Amer Sports; Nike, Inc.; PUMA SE; Under Armour, Inc.; VF Corporation; Yonex Co., Ltd; Acushnet Holdings Corp; Bridgestone Corporation; and Callaway Golf Company.

Sports Luggage Market Segmentation

Grand View Research has segmented the global Sports Luggage market on the basis of product, distribution channel, and region:
Sports Luggage Product Outlook (Revenue, USD Million, 2015 - 2025)
  • Golf
  • Ball Sports
  • Racket Sports
  • Hockey
  • Cricket
  • Others
Sports Luggage Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
  • Online
  • Offline
Sports Luggage Regional Outlook (Revenue, USD Million, 2015 - 2025)
  • North America
    • U.S.
  • Europe
    • U.K.
    • Germany
  • Asia Pacific
    • China
    • Japan
  • Central & South America
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

You may also like

Discussion

No comments yet... Be the first to leave a reply! Login here

avatar
adityarana
0 Karma
661 Posts

Made with by Mamby