Bizizz Market Research has recently published a research report, “Sports Luggage Market by Sports Type (Cricket, Golf, Hockey, Rocket Sports, Ball Sports and Others), Distribution channel (Online and offline), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Sports Luggage Market was valued at US$ xx Bn in 2018 and it is anticipated to reach at market value of US$ 2.6 Bn by 2027, witnessing a CAGR of 3.3% during the forecast period. Key drivers of the market are technological developments in sports industry coupled with increased number of participation of sports activities by the individuals.
The growing population suffering from obesity has increased awareness about the benefits associated with the sports activities has stimulated the market of sports luggage. As per the sports and fitness industry association there is a reduction in the obesity faced population by a rising population involved in the sports activities. This has increased the contribution of the sports products manufacturers to impart advanced new technologies into them has propelled its market growth.
The Sports Luggage market is anticipated to register a CAGR of over 3.3% during the forecast period.
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By Distribution channel, Offline segment segment held a key share in Global Sports Luggage Market in 2018.
The market sales of sports luggage is mostly depended on the offline mode of distribution channels globally. It could be associated with the presence of the specialty stores that offers various products of sports with a superior’s quality and advantages. Moreover, the companies are planning to expand their global presence for taping the opportunities through retail outlets for catering different products had propelled sports luggage products in the market.
By Sports, Ball sports Segment of Global Sports Luggage Market Is Anticipated to Witness the Fastest CAGR during the Forecast Period.
An increase in the ball sports activities globally has propelled the sports luggage market in the recent years. The segment is the fastest growing market that has increased the contribution of ball sports segment in the recent years in its market.
Asia Pacific is anticipated to dominate the Global Sports Luggage Market during the Forecast Period.
The sports luggage market is leading in the Asia pacific region by an increasing number of participants in the sports activities in this region. The Asia Pacific region is exhibiting significant number of sports players is also raising in the recent years that is propelling the growth of sports luggage offerings in this region.
Global Sports Luggage market was highly fragmented among the number of local and global players. The completion is high in this industry by the presence of numerous players offering these sports luggage products in the market.
Prominent players operating in the Global Sports Luggage Market are: Adidas AG, Bridgestone Corporation, Amer Sports, VF Corporation, Acushnet Holdings Corp, Callaway Golf Company, Nike, Inc., Yonex Co., Ltd, PUMA SE, and Under Armour, Inc., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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