By Research and Markets (http://www.researchandmarkets.com/research/3426f3/sports_equipment) has announced the addition of the "Sports Equipment Market Report 2013" report to their offering.
With most consumer markets suffering a decline in sales during the economic recession in 2009, the overall UK sports industry saw a migration away from traditional sports activities, and thereby expensive and popular pieces of sports equipment, in favour of low-cost general fitness activities which require little or no expenditure from the consumer. This changing trend towards general fitness activities, such as running and swimming, naturally saw a decline in sales of sports equipment during this period, yet the market is beginning to show renewed growth once more.
This Key Note Market Report analyses the consumer sector of the sports equipment market, covering a broad range of sports sectors, and has estimated a positive year-on-year growth of 5.7% between 2011 and 2012.
Sports participation figures go a long way to indicating the saturation of the market with a rise in general fitness and women's fitness such as yoga and dance classes resulting in a greater presence of related equipment in the marketplace. However, with minimal costs involved in these activities, the main sports sector continues to be golf, which has relatively high equipment costs to the consumer.
As the sport has become more accessible in recent years, with many clubs relaxing their strict members' policies, there is potential for increased affiliation with the sport. With Sport England portraying a rise in sport participation in recent years, there is a strong continual market for sports equipment; however, changing trends in the sports industry are creating different needs within the marketplace.
With the UK's hosting of the 2012 Olympic and Paralympic Games, the global consumer's attention has been focused on the UK market as a credible supplier of sporting excellence. The domestic Government is also building on the media coverage from the event to create a lasting legacy of sport and fitness for the UK population.
This comes in the form of raising the profile of less popular activities and encouraging the use of the Olympic Village facilities; the public will soon be able to utilise the training facilities favoured by professional athletes. Sports initiatives launched off the back of the Games are aiming to encourage more residents to get involved in sports and fitness activities, in turn facilitating a larger potential consumer market for sports equipment.
Within the consumer sector of the industry, much of the trade of goods is globally focused with sports brand leaders Nike and Adidas often leading the way in terms of product innovation. Yet the major player in the UK market, despite continued fragmentation of the retail domain, is UK-born retail giant Sports Direct. With the acquisition and mergers of many companies in recent years, there is increased competition within the market and once major retailers, such as JJB Sports, are falling by the wayside.
The authors forecast positive growth for the UK sports equipment market, with this industry estimated to grow by 12.1% between 2013 and 2017. Following from large investments in the sporting future of the nation, it is expected that demand for equipment will continue to grow.
Companies Mentioned
- Acushnet Europe Ltd
- Adidas Group
- American Golf Discount Centre Ltd
- Callaway Golf Europe Ltd
- Dave Whelan Sports Ltd
- H Young Holdings PLC
- Nike
- Speedo International Ltd
- Sports Direct International PLC
- Wiggle Ltd
For more information visit http://www.researchandmarkets.com/research/3426f3/sports_equipment
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Sector: Sport
