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The Growing European Participation in Outdoor Activities is Driving the Europe Sporting Goods Market

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ashwini bakhade
The Growing European Participation in Outdoor Activities is Driving the Europe Sporting Goods Market

 

The sporting goods market in Europe encompasses a wide range of sports equipment, apparel, and footwear essential for outdoor and indoor activities. Sporting goods provide enhanced comfort, safety, and performance for activities ranging from swimming, cycling, football, and tennis to hiking, camping, and trekking. The growing popularity of outdoor recreation and fitness trends among Europeans has boosted the demand for sporting apparel, footwear, equipment, and accessories.

The global Europe Sporting Goods Market is estimated to be valued at US$ 164.15 billion in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:


One of the key trends in the Europe sporting goods market is the growing consumption of smart and connected fitness devices. Sports enthusiasts and fitness aficionados are increasingly relying on sensor-enabled smartwatches, fitness trackers, exercise bikes, treadmills, and other wearable devices to monitor metrics like heart rate, calories burned, distance covered, sleep patterns and provide customized workout programs. Connected devices offer real-time feedback, sync data with fitness apps, and enable competitive social networking features. Their ability to deliver a more immersive and personalized training experience is boosting their adoption across Europe. Manufacturers are also launching innovative products integrated with artificial intelligence, augmented reality and voice assistants to further augment the smart sports equipment market.


Porter’s Analysis


Threat of new entrants: The threat of new entrants in the Europe sporting goods market is moderate as it requires large capital investments and established distribution channels. However, digital platform can help new players enter with low investment.


Bargaining power of buyers: The bargaining power of buyers is high in the Europe sporting goods market. Buyers can easily switch between brands based on product quality and pricing. They can also purchase generic brands with lower prices.


Bargaining power of suppliers: The bargaining power of suppliers is moderate. While there are many raw material suppliers, top brands can negotiate better prices due to their large volume purchases. Suppliers also need to rely on brands to sell their inventory.


Threat of new substitutes: The threat of substitutes is moderate. While other entertainment products can be considered as substitutes, sporting goods have demand from health-conscious customers as well. Traditional games also act as substitutes.


Competitive rivalry: The competitive rivalry is high in the fragmented Europe sporting goods market with presence of global as well as local brands. Players differentiate through innovation, brand image, and competitive pricing.


Key Takeaways


The Global Europe Sporting Goods Market Size  is expected to witness high growth. Innovation in material and designs will help boost demand. Outdoor activities are gaining popularity due to eco-tourism trends. The global Europe Sporting Goods Market is estimated to be valued at US$ 164.15 billion in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030.


Regional analysis: The Europe sporting goods market is dominated by Germany, followed by UK and France. Germany accounts for over 25% share due to strong presence of Adidas and Puma. UK market grows due to promotion of active lifestyles. Growing middle class in East Europe supports market growth.


Key players: Key players operating in the Europe sporting goods market are Abbott Laboratories, Novartis AG, Eli Lilly and Company, Merck & Co., Inc., GlaxoSmithKline plc. Players are launching fashionable yet comfortable products. Adidas and Puma aim strengthen their presence through sponsorship and product innovations.

For more Insights, Read –

https://www.marketwebjournal.com/europe-sporting-goods-market-trends-size-and-share-analysis/

Check more trending articles related to this topic:

https://shoutingstars.com/the-rising-future-of-hydrogen-an-eco-friendly-fuel-for-a-greener-tomorrow

 

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Ahasan Ali 2023-07-06
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A comprehensive overview of the Winter Sporting Goods Market is recently added by UnivDatos Market Insights to its humongous database. By Product, the market is primarily bifurcated into:·        Skis and Poles·        Snowboards·        Footwear ·        Ice Hockey Sticks·        Protective Gear and Accessories·        OthersBased on Product, the market is segmented into Skis and Poles, Snowboards, Footwear, Ice Hockey Sticks, Protective Gear and Accessories and Others. com/report/winter-sporting-goods-market/ By Application, the market is primarily studied into:·        Skiing·        Ice hockey·        Snowboarding·        Figure skating·        OthersBased on Application, the Winter Sporting Goods Market is segmented into Skiing, Ice Hockey, Snowboarding, Figure Skating and Others. By Distribution Channel, the market is primarily studied into:·        Online·        OfflineBased on Distribution Channel, the Winter Sporting Goods Market is segmented into Online and Offline. Key questions resolved through this analytical market research report include:·        What are the latest trends, new patterns, and advancements in the winter sporting goods market?
Europe Sporting Goods: A Leading Sporting Goods Retailer in Europe
Nishant 2024-03-29
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Current OperationsToday, Europe Sporting Goods operates over 250 large-format stores across 20 countries in Europe. In addition to carrying equipment, apparel and shoes for popular participation sports, Europe Sporting Goods has expanded product categories over the years. Online OperationsRecognizing the growing importance of e-commerce, Europe Sporting Goods launched its flagship transactional website, Europesportinggoods. Today, online sales contribute over 25% to Europe Sporting Goods' total revenues annually. Get more insights, On Europe Sporting Goods
Sporting And Athletic Goods Market Forecast to 2030 | Covid 19 Impact & Recovery
Sreeramakrishna TBRC 2020-07-06
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The Business Research Company published its Sporting And Athletic Goods Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global sporting and athletic goods market.

The report covers the sporting and athletic goods market’s segments- by type: fishing equipment; skating and skiing equipment; golf equipment; other sporting equipment, by distribution channel: online stores; specialty stores; convenience/departmental store; others, and by material: plastics; wood; metal; others.View Complete Report: https://www.thebusinessresearchcompany.com/report/sporting-and-athletic-goods-global-market-report-2020-30-covid-19-impact-and-recoverySporting And Athletic Goods Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.

The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.

It also compares the market’s historic and forecast growth.

It covers all the regions, key developed countries and major emerging markets.

The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Rise in demand for guards while playing has driven the market for 3D printed mouth guards due to its enhanced protection level while playing.

Wilson Rush Pro 3.5 Women's
racquetguys 2022-08-03
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Wilson Rush Pro 3. 5 Women's is a shoe that is a part of the Wilson Rush Pro line. Combined with its reflective elements that may help keep you safe during low-light conditions, this is one great running shoe on the market today. Wilson Rush Pro 3. 5 Women's is a great choice for those who are looking for a running shoe that provides comfort, durability and lightweight design. Nike Women's Air Zoom Pegasus 35 FLD Running ShoeThe Nike Women's Air Zoom Pegasus 35 FLD Running Shoe is a decidedly minimalist running shoe that will provide you with just about everything you need from a running shoe.
Purchase Sports Equipment Online For The Best Convenience And Selection
racesports 2022-11-17
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More and more individuals are choosing to purchase online due to the numerous advantages it has over more conventional methods of purchasing. The ideal approach to conduct business if you're interested in purchasing sports-related items, gear, and accessories is to purchase online. The following are a few significant advantages of purchasing sports equipment online:ConvenienceConvenience is the primary benefit of internet buying. Within a few minutes, you may choose, choose, and purchase the things you desire. You may shop at your convenience without being constrained by time or location when you use online retailers.
Sporting Goods, Hobby, Musical Instrument, And Book Stores Global Market Size, Share, Growth, Industry Outlook, Competitive Strategies and Forecasts to 2031
Santhosh 2022-09-13
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The Sporting Goods, Hobby, Musical Instrument, And Book Stores Global Market Report 2022 covers sporting goods, hobby, musical instrument, and book stores market drivers, sporting goods, hobby, musical instrument, and book stores market trends, sporting goods, hobby, musical instrument, and book stores market segments, sporting goods, hobby, musical instrument, and book stores market growth rate, sporting goods, hobby, musical instrument, and book stores market major players, and sporting goods, hobby, musical instrument, and book stores market size. com/report/sporting-goods-hobby-musical-instrument-and-book-stores-global-market-report The sporting goods, hobby, musical instrument, and book stores market report provides in-depth analysis of the impact of COVID-19 on the global sporting goods, hobby, musical instrument, and book stores industry along with revised market numbers due to the effects of the coronavirus and the expected sporting goods, hobby, musical instrument, and book stores market growth numbers for 2022-2031. The global sporting goods, hobby, musical instrument, and book stores market size is expected to grow from $430. The global sporting goods, hobby, musical instrument, and book store market size is expected to grow to $641. TBRC’s report covers the sporting goods, hobby, musical instrument, and book stores market segments- 1) By Type: Sporting Goods Stores, Hobby, Toy, Game Stores, Musical Instrument and Supplies Stores, Others2) By Ownership: Retail Chain, Independent Retailer3) By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer StoreThe table of contents in TBRC’s sporting goods, hobby, musical instrument, and book stores market report includes:1.
Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Forecast To 2032 : Trends, Segmentation, Product Type, Technology And Key Players
Mallu Swetha 2023-02-27
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The Business Research Company’s Sporting Goods, Hobby, Musical Instrument, and Book Stores Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The Sporting Goods, Hobby, Musical Instrument, and Book Stores Global Market Report 2023 evaluates sporting goods, hobby, musical instrument, and book stores market size, growth rate, drivers, trends, and major companies. id=2183&type=smp The global sporting goods, hobby, musical instrument, and book stores market grew from $468. The sporting goods, hobby, musical instrument, and book stores market is expected to grow to $628. The sporting goods, hobby, musical instrument, and book stores market segments in the report are: 1) By Type: Sporting Goods Stores, Hobby, Toy, Game Stores, Musical Instrument And Supplies Stores, Other Sporting Goods, Hobby, Musical Instrument, Book Stores      2) By Ownership: Retail Chain, Independent Retailer        3) By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store Get More Information On The Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Report:https://www.