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EUROPE SPORTING GOODS MARKET ANALYSIS

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EUROPE SPORTING GOODS MARKET ANALYSIS

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker   Europe Sporting Goods Market 2017–2027  Sporting goods are also referred to as sporting equipment which includes nets,               balls, and protective gear like helmets. They can be classified into those           requirements which are used as protective gear or those which are used to play           sports. They are gaining traction because of the evolving sports industry which           is raising demand for sports preventing equipment in order to prevent injuries.           Sporting’s equipment can be found in departmental stores. Football, tennis,             racket sports, and bike sports are some of the major sports instruments that             can be used to play sports.                                                                                              The Europe sporting goods market is projected to surpass US$ 220 billion by             the end of 2027, in terms of revenue, growing at CAGR of 6.5% during the               forecast period (2019 to 2027).                                 

  2. Drivers  The growing prevalence of obesity in Europe fueling the demand for           fitness-related sports equipment is expected to foster the market growth of         sporting goods. The latest data (2015–2017) from the WHO Childhood Obesity           Surveillance Initiative (COSI) show that southern European countries have the         highest rate of child obesity. In Cyprus, Greece, Italy, Malta, San Marino, and             Spain, approximately 1 in 5 boys (ranging from 18% to 21%) are obese.             Therefore, the rising obesity rate in the region is propelling demand for             fitness-related goods, which in turn propelling the market growth of sporting           goods.                                                                                                        The growing focus of government countries in Europe to promote various           sporting activities in the region in order to encourage people to participate in             sports activities and improve the quality of life is projected to propel the growth           of the sports goods industry. According to the Coherent Market Insights,           European Committee on Culture and Education states that sport is an integral           part of an individual’s life and helps in the integration of people across cultures,                 ethnicities, and borders.                                                                                    Among countries, Rest of the Europe dominated the ​Europe sporting goods             market in 2018, reporting 60% market share in terms of revenue, followed by             Germany and France, respectively..                                       

  3.   Figure 1. Europe Sporting Goods Market, Revenue Share (%), By Country,  2018    Market Restraints  The growing trend of consolidation in the Europe market due to the presence of             a large number of players in the market-leading to little space for new entrants,               due to a strong entry barrier is expected to hinder the market growth of Europe               sporting goods. Moreover, difficulty in the entry of foreign players across few           European countries such as Germany and France, the region is expected to           experience a downward shift in terms of revenue generation over the forecast             timeframe which is expected to restrict the market growth.                                                                                        Unpredictable and harsh weather conditions due to global warming and other         environmental condition in the region is a key factor expected to play a         significant role in hindering the growth of the Europe sporting goods market.           Moreover, the availability of counterfeit products coupled with the high cost of         some sports goods is further anticipated to restrict the growth of Europe           sporting goods over the forecast timeframe.                                                                             

  4. Market Opportunities  The rising collaboration of fashion and sports is projected to offer potential           growth opportunities over the forecast timeframe. According to the Coherent           Market Insights analysis, at present major sports brands such as Nike and           Adidas are focusing on developing fashionable sportswear to increase their           consumer base, as demand for fashionable workout wear is increasing amongst           health-conscious consumers in countries across the region. Therefore,       increasing the collaboration between sports and fashion is propelling the         growth of Europe sporting goods.                                                                                    The growing textile industry in Europe is expected to foster the market growth               of Europe sporting goods over the forecast timeframe. According to the             Euractiv, the value of UK textiles is worth almost US$ 9.8 billion to the economy               and France ranks 3rd in the EU total textile turnover. Moreover, Spain is the 2nd                 largest exporter of clothes in Europe. Therefore, the growing textile industry in             Europe is projected to foster market growth over the forecast period.                                                                   Figure 2. Europe Sporting Goods Market – Opportunity Analysis    Market Trends  Growing partnerships among various sports associations across Europe with         sporting goods manufacturers in Europe in order to fuel sales of various         sporting goods such as apparel and shoes are expected to foster the market             growth of Europe sporting goods market over the forecast period. For instance,           in early October 2016, Nike, Inc. announced plans to partner with Chelsea                                                                              

  5. Football Club in order to supply basic kits and apparel. Therefore, growing such               partnerships is gaining traction in the market which is expected to fuel the             market growth.                            Increasing focus of manufacturers to expand their distribution channel for           sporting goods is gaining traction in the market and this is expected to propel             the growth of Europe sporting goods market. For instance, in February 2020,             Nike, Inc. announced that it is transitioning its Nike Brand business in Brazil,             Argentina, Chile and Uruguay to strategic distributor partnerships, enabling a           more profitable, capital-efficient and value-accretive business model.                                                                Figure 3. Europe Sporting Goods Market, Revenue Share (%), By Country,  2018    On the basis of product type, in 2018, football accounted the largest market                 share of 26% in terms of revenue, followed by team sports and tennis,               respectively.                                 

  6. Figure 4. Europe Sporting Goods Market – Value Chain Analysis    Competitive Section  Key players active in the Europe sporting goods market are Adidas AG, Nike,             Inc., Under Armour, Inc., PUMA SE, Amer Sports, Odlo, Hammer Sports, Polar             Electro, KETTLER, and WaterRower                            1. Request Sample Report 2. Download PDF Brochure 3. Request Customization 4. Talk to Analyst

  7. Reference https://www.coherentmarketinsights.com/market-insight/europe-sporting-goods-mark et-3473 About Us: Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. What we provide: •​Customized Market Research Services •​Industry Analysis Services •​Business Consulting Services •​Market Intelligence Services •​Long term Engagement Model •​Country Specific Analysis Contact Us: Mr. Shah

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