Online Sports Retailing Market is estimated to be worth of USD 354.20 Billion by 2033
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Online Sports Retailing Market Overview
Published Via 11Press: Online sports retailing is a quickly growing field of online commerce. With the prevalence of online shopping, more and more people are buying their favorite sports gear from the comfort of their own home or office. This new form of retailing has opened up a world of possibility for those looking to purchase anything from running shoes and golf clubs to yoga mats and fitness apparel.
According to recent market.us estimates, the global online sports retailing market size was valued at over USD 136.56 bn in 2023 and is expected to reach USD 354.20 bn by 2033, at a CAGR of 10%.
The online sports retailing market is a rapidly growing industry that offers an array of opportunities for both businesses and consumers alike. The growth in this sector has been driven by the increasing demand for sporting goods, apparel, footwear, and equipment from athletes, fitness enthusiasts, and recreational shoppers. As more people embrace technology to shop online and seek convenience while doing so, the growth potential of this market is immense.
The vast number of products available to be sold through online sports retailing makes it attractive to vendors of all sizes. From small specialty stores with niche items to larger conglomerates that offer a wide range of merchandise; the options are ample and varied.
The increasing popularity of sports, fitness activities, and outdoor activities has led to a rise in demand for sports products. The convenience and ease of online shopping have made it a preferred channel for consumers to buy sports products. The online sports retailing market has been witnessing several key trends, such as the increasing use of artificial intelligence (AI) and virtual reality (VR) technologies, personalization of shopping experience, and the rise of social media marketing.
Key Takeaways
- Sports apparel is the largest segment of the market and is expected to continue to dominate the market during the forecast period.
- The market growth can be attributed to the increasing demand for sports equipment, apparel, and footwear among men, women, and children.
- The Asia-Pacific region is expected to witness the highest growth rate due to increasing adoption of sports activities and growing e-commerce industry in countries such as China and India.
- North America is expected to dominate the market during the forecast period owing to high disposable income and rising demand for sporting goods in countries such as Canada and U.S.
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Regional Snapshot
North America
- The increasing popularity of sports and fitness activities, the growing trend of athleisure wear, and the presence of major players such as Nike and Adidas are the key factors driving the market in this region.
- The United States is the largest market for online sports retailing in North America.
Europe
- The market is driven by factors such as the growing trend of fitness and outdoor activities, the increasing adoption of e-commerce platforms, and the presence of major players such as Decathlon and JD Sports.
- The United Kingdom, Germany, and France are the largest markets for online sports retailing in Europe.
Asia-Pacific
- The Asia-Pacific region is expected to witness the highest growth rate during the forecast period, with China and India leading the market.
- The market is driven by factors such as the increasing adoption of sports activities, the rising e-commerce industry, and the growing trend of athleisure wear.
- China is the largest market for online sports retailing in Asia-Pacific, followed by India and Japan.
Drivers
- The increasing popularity of sports and fitness activities among people.
- The convenience and ease of online shopping, coupled with the rising use of smartphones and internet.
- The increasing number of e-commerce platforms and online marketplaces offering sports products.
Restraints
- The challenges associated with maintaining the quality of products and customer experience in online retailing.
- The rising competition among e-commerce players and local sports stores.
Opportunities
- The increasing use of AI and VR technologies for enhancing the shopping experience.
- The growing trend of personalized shopping experiences and social media marketing.
Challenges
- Maintaining the quality of products and ensuring timely delivery.
- Addressing the concerns related to data privacy and security.
Recent Developments
- In July 2021, Flipkart, an Indian e-commerce company, announced the launch of an online store dedicated to sports and fitness products.
- In August 2021, Amazon launched a new program called “Advantage – Just for Prime” in India, offering exclusive deals on sports products for Amazon Prime members.
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Market Segmentation
By Product type
- Sports Equipment
- Sports Apparel
- Sports Footwear
- Other
By application
- Men
- Women
- Children
Top: Biggest Companies
- Nike
- Adidas
- PUMA
- Under Armour
- MIZUNO
- Academy Sports + Outdoors
- Amazon.com
- Alibaba.com
- DICK’s Sporting Goods
- Walmart
- ASICS
- Columbia Sportwear
Report Scope
| Report Attribute | Details |
| The market size value in 2023 | USD 136.56 bn in 2023 |
| Revenue forecast by 2032 | USD 354.20 bn |
| Growth Rate | CAGR of 10% |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World |
| Historical Years | 2017-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
| Long-Term Projected Year | 2032 |
Contact
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