Sports Luggage Market Top Players Financial Performance and Strategic Initiatives, 2025

Felton, Calif., USA, Nov 01, 2021 — /EPR Network/ —

The global Sports Luggage Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global sports luggage market is anticipated to reach USD 2.47 billion by the end 2025, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 3.5% during the forecast period, 2019 to 2025. This growth is attributed to increasing participation and interest in various sporting activities coupled with rising consciousness for obesity in children. In addition, rising popularity of sports tourism and considering sports as prominent career option are some of the factors expected to proliferate the growth of the market over the forecast period.

Key Players:

• Adidas AG
• Amer Sports
• Nike
• PUMA SE
• Under Armour, Inc.
• VF Corporation
• Yonex Co., Ltd
• Acushnet Holdings Corp
• Bridgestone Corporation
• Callaway Golf Company

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Growth Drivers:

Many people are choosing sports as their alternative career option owing to the rising popularity of sports tourism. Moreover, the rising number of tournaments and championships of different sports along with the availability of multiple facilities across various developed as well as developing nations is anticipated to proliferate the product demand from 2019 to 2025. Increasing consumer expenditure on sporting goods coupled with rising disposable income levels is expected to fuel the market growth during the forthcoming years. Consumers prefer lightweight products that can sustain the weight of sporting equipment. However, fake products are highly affordable and easily available which is anticipated to restrain the market growth from 2019 to 2025.

Product Outlook:

• Golf
• Ball Sports
• Racket Sports
• Hockey
• Cricket

Ball Sports segment accounted for the largest revenue share owing to increasing participation of children and youngsters in ball sports such as volleyball, basketball, and football. Asia Pacific was the largest market for sports luggage and is anticipated to maintain its dominant position over the forecast period owing to rising disposable income levels of consumers and increasing expenditure on various sporting activities.

Distribution Channel Outlook:

• Offline
• Online

The segment of online distribution channels is projected to grow at the highest CAGR of 4.6% from 2019 to 2025. The ease of accessibility and availability of a wide range of products across online retail stores is driving the growth. Moreover, manufacturers are launching their products across offline as well as online stores to expand their consumer reach and enhance their distribution network.

Regional Insights:

In 2018, Asia Pacific dominated the market and is projected to maintain its dominance from 2019 to 2025 owing to rising expenditure on sporting goods along with an increase in the buying power of consumers across the region. Moreover, the increasing influence of Asian players performing spontaneously in various world tournaments such as Rio, Olympics, and Commonwealth Games is boosting the participation of youngsters and children in various sports. Children in this region are considering sports as a fruitful career option. Therefore these factors are expected to boost the growth of the regional market over the forecast period.

In 2018, North America is estimated to be the second-most prominent market across the global sports luggage market owing to rising product demand and rising awareness about the benefits of participating in sports among the youngsters in this region. Furthermore, Central and South America are projected to grow at the fastest rate from 2019 to 2025.

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