EUROPE SPORTING GOODS MARKET ANALYSIS

Market Challenges And Opportunities

Europe Sporting Goods Market: Growth Drivers

Increasing health awareness and disposable income in developing countries

The growth of the Europe sporting goods market is being driven by an increase in health awareness, an increase in disposable income in developing countries, and the popularity of physical fitness activities. Increased spending on sports training and development among children, as a result of increased awareness of the benefits of participating in sports activities such as increased concentration and problem-solving ability, fuels demand for the Europe sporting goods market. Furthermore, the changing paradigm of the educational system promotes the growth of the sports industry and related industries. Furthermore, the increase in sports education and sports training in academics has significantly increased awareness of sports and fitness. The major driver of the sports equipment and goods industry is the online retail platform. Most sports equipment and apparel manufacturing companies now have their web-based retail stores where users can obtain a wealth of information about the organization, such as the most recent product and company news, as well as financial information. For instance, in June 2021, JD Sports Fashion announced buying a majority stake in Spanish sports equipment pureplay. The retailer has made known that it plans to acquire 80% of the Catalan firm Deporvillage, which specializes in selling cycling, outdoors, and running gear. JD Sports Fashion, a subsidiary of Pentland Group Plc, is a multichannel retailer of sports and fashion goods.

Increased obesity prevalence and government initiatives to promote a healthy lifestyle

Increased obesity prevalence and increased health awareness drive the growth of the Europe sporting goods market. Furthermore, government initiatives to promote a healthy lifestyle fuel the rise in sports participation across the European region. On the contrary, improvements in lifestyle, an increase in the youth population, and an increase in per-capita income in European countries are expected to provide lucrative opportunities for the growth of the Europe sporting goods market. Sports and sports-related products have become more popular as a result of efforts made by various governments to promote sports, health, and fitness. However, the European Non-Governmental Sports Organization (ENGSO) is a non-profit group with a wide network of counterparts in other European sports organizations and governmental organizations that deal with sports either directly or indirectly. Due to this, ENGSO has been involved in a lot of activities over the past few decades. For instance, in February 2020, Nike, announced the transition of its Nike Brand business in Brazil, Argentina, Chile, and Uruguay to strategic distributor partnerships, allowing for a more profitable, capital-efficient, and value-added business model, which is boosting the demand for Europe sports goods.