Global sporting goods market reaches 568 billion US dollars! Sports shoes and bicycles become growth engines!

Circana (formerly NPD Group) has just released a report on the global sporting goods market. The data provides a comprehensive view of the sports industry on a global scale. In addition to the report, the company also provided an infographic showing some key data on the global sporting goods market.

Global growth contrasts sharply with regional differences

According to Circana, the global sporting goods market will grow significantly to reach the $568 billion mark in 2022. This is a 4% increase from the previous year, indicating a growing interest in sports and leisure activities among consumers around the world.

However, growth is not uniform across all regions. Some countries saw a decline in sporting goods sales in 2022. This is particularly the case in the United States, China, and Russia, which saw sales decline despite their leading position in the sporting goods market.

On the other hand, other countries performed well, with sales increasing in all Americas countries except the United States. Globally, the top three countries accounted for 52% of sports goods sales, while 72% of sales were concentrated in the top ten countries. In Europe, Germany and France performed well, contributing most of the growth in sports goods sales in the continent in 2022.

Sports shoes and bicycles become growth engines

In terms of products, some categories contributed more to sales growth than others. In Europe, sports shoes, bicycles and bicycle accessories were the pillars of growth, with growth of +7% and +4% respectively. These figures illustrate an underlying trend: people's growing interest in individual sports activities, such as fitness, running or cycling. It is worth noting that the bicycle market also benefits from the booming development of bicycles as a mode of transportation, especially in urban areas.

As for expenditure, the global average expenditure also increases and will reach $76 in 2022. This average expenditure is significantly higher in some countries, such as the United States, Canada and Germany. The increase in average expenditure can be explained by the trend to buy higher quality products, but also by a general increase in market prices.

Editor ✎Estella/

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