Fusion of Sports & Fashion to Drive Growth in the Sporting Goods Market, According to a New Report by Global Industry Analysts, Inc.
The sporting goods market worldwide is expected to be driven by the growing diversity of sports activities, easy access to sports opportunities, higher purchasing power, greater indulgence in new age activities such as yoga, and rising quality of sports facilities in sync with increasing levels of affluence of the world economy and its population. Strong growth in the upcoming years is expected to stem from Eastern Europe, Asia and Latin America.
San Jose, CA (PRWEB) September 1, 2008 -- The world market for sporting goods stands enthused by strong consumer emphasis on healthy lifestyles, and greater indulgence in outdoor recreational sports, and pursuits, such as hiking, camping, rock climbing, backpacking, kayaking and fishing. There exists a marked preference for sporting products, which offer convenience, performance, flexibility and class. Successful products in the marketplace will be those, which offer performance and functionality in addition to style and comfort.
In the upcoming years, consumer preferences are likely to center around contemporary sportswear fabrics, such as, lightweight, breathable micro fibers, micro fleece fibers, climate control fabrics, nylon- blended cotton, Lycra Spandex, and fleece fabric. In addition, the market, composed of sports apparel, athletic footwear and sports equipment, is expected to feel the refreshing influence of high-end fashion. In the sports apparel market, for instance, classy tastes and growing levels of fashion consciousness among modern consumers is leading to an increase in demand for fashionable, stylish, and colorful sports apparel designs. Fashion forward brands are expected to score the maximum gains in the marketplace. On the retail front, the trend is rapidly altering retailing dynamics with conventional sporting goods retailers facing increasingly stiff competition from fashion stores, and department stores.
The sports equipment market is expected to mirror healthy growth driven largely by increased participation in sports such as, wind surfing, skateboarding, skiing, baseball/softball, water sports, golf, and billiards/bowling, to name a few. Another defining trend in this market segment is the growing levels of health consciousness, and the resulting increase in demand for exercise, and fitness equipment. The proliferation of numerous health clubs has additionally helped spruce up demand for equipments, such as, fitness/exercise machines, and elliptical machines, among others. With their increasing participation in organized team sports, such as, tennis, football and basketball, women, in recent years, have made their way into the spotlight as a lucrative target audience, making the women's sportswear market the greatest beneficiary of this trend.
Asia is expected to offer strong potential for future growth in the world sporting goods market. The region is playing host to numerous high-profile sporting events with the most noteworthy being the 2008 Olympics, scheduled to be held in China, and the 2010 Commonwealth Games to be held in India. Driven by popular sporting events and tournaments organized in the country, China represents a major sports market in Asia. The upcoming 2008 Beijing Olympics is further expected to drive up growth in the domestic Chinese sports and sporting goods sector.
The report titled "Sporting Goods: A Global Outlook", published by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report identifies major segments of the sporting goods industry, and gives a cursory view of the market together with the latest mergers, acquisitions, and other strategic developments. The retail landscape in the United States is highlighted with market discussions dotted with 13 fact-rich market data tables, and graphs/charts. The European, and Asian markets are briefly synopsized with pithy discussions on select countries i.e. UK, Germany, France, Japan, China, Hong Kong, Indonesia, and Taiwan, among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 492 companies worldwide.
For more details about this research report, please visit http://www.strategyr.com/Sporting_Goods_Industry_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press @ StrategyR.com
Web Site www.StrategyR.com
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