Sporting Goods Market Size

Sporting Goods Market size is poised to reach USD 800 Billion by the end of 2036, growing at a CAGR of 4% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of sporting goods was USD 535 Billion. The market is growing due to the growing sports industry across the globe. Around the world, there is evidence that sports are a thriving sector that is rapidly expanding globally with the rapid advancement of technology, shifting consumer behaviors, and shifting demographics. For instance, globally, the sports industry is predicted to expand by over 9% between 2022 and 2027, reaching a market size of around USD 4 billion by that year.

The growing advancements in sporting goods are believed to fuel the sporting goods market growth. GPS (Global Positioning System) monitoring in the sports sector has developed into an invaluable resource for players, coaches, and spectators as it aids in tracking motions and performance evaluation for athletes and tracking metrics including heart rate, distance traveled, and speed which helps athletes set objectives and pinpoint areas for growth.