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Sports Luggage Market is Estimated to Value USD 2.47 Billion By 2025 | Grand View Research, Inc.

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Sports Luggage Market is Estimated to Value USD 2.47 Billion By 2025 | Grand View Research, Inc.

January 09
18:20 2020
Sports Luggage Market is Estimated to Value USD 2.47 Billion By 2025 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,The global sports luggage market size was valued at USD 1.94 billion in 2018 and is expected to expand at a CAGR of 3.5% over the forecast period.

According to a report, “Sports Luggage Market Size, Share & Trends Analysis Report By Product (Golf, Ball Sports, Racket, Hockey, Cricket), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc, The global sports luggage market size was valued at USD 2.47 billion in 2025, expanding at a CAGR of 3.5% over the forecast period, according to Grand View Research, Inc. Rising interest and participation in sports is the primary factor driving the demand. Growing obesity epidemic, especially in young generation is boosting participation in sports. Moreover, factors such as growing sports tourism along with increasing interest to get broadcasted in various media channels are anticipated to drive the market growth.

As per a study conducted by Aspen Institute, 35.0% males and 39.5% females in U.S. are overweight. High percentage of obesity among children from the age 5 to 17 years is expected to drive the participation in sports. As per Sports & Fitness Industry Association (SFIA) the percentage of children with no physical activity has been dropping consistently. Such rise in sports activities in U.S. and other parts of the world indicates a significant growth opportunity for the sports luggage market.

Some of the major players operating in the sports luggage market are Adidas AG; Amer Sports; Nike, Inc.; PUMA SE; Under Armour, Inc.; VF Corporation; Yonex Co., Ltd; Acushnet Holdings Corp; Bridgestone Corporation; and Callaway Golf Company

Increasing sports expenditure owing to rising disposable income is likely to boost the demand for sports luggage over the forecasted period. Also, the companies focus on sponsorships and partnerships to gain traction, which is a major factor for driving the market. For instance, in 2019, Nike extended their technical partnership with Brighton and Hove Albion for three more years to supply playing and training kit to the men’s and women’s teams in the Premier League. In January 2016, Dwayne Johnson entered into a partnership with Under Armour and launched their first product with two limited-edition bags from Project Rock. These bags are unisex and resistant to water and abrasion.

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Asia Pacific held the largest share of the global market for sports luggage. Growing popularity of ball sports, such as football, basketball, and volleyball is projected to drive the demand for ball sports luggage. As per the Australian Sports Commission, children from age group 12 to 14 years had the highest participation in ball sports – 27.4% in football, 22.1% in Australian football, 18.0% in Basketball, 17.4% in Cricket, and 11.5% in Tennis. This factor is anticipated to drive the product demand in near future.

The golf luggage is also estimated to witness significant growth over the forecasted period. According to the Participation Report published by the National Golf Foundation, in 2018, approximately 4.2 million baby boomers played golf, an increase from 3.6 million in 2017. North America held the second largest market share in 2018 and is estimated to remain consistent over the forecasted period owing to increase in number of youth participants in sports and recreational activities.

China sports luggage market

Further key findings from the report suggest:

  • Ball sports segment is projected to ascend at the fastest CAGR of over 4% during the forecast period, owing to increasing interest as well as participation in golf

  • Online distribution channel is estimated to expand at the fastest CAGR of 4.6% over the forecasted period

  • Asia Pacific is estimated to be the largest and fastest growing market for sports luggage over the forecast period, owing to rising participation in sports along with increasing disposable income of the middle-class

Distribution Channel Insights

On the basis of distribution channel, the market has been segmented into offline and online. Offline is the largest segment and is expected to continue leading over the forecasted period. Sports good manufacturers are increasing number of retail outlets as a part of market expansion strategy. Retailers also offer product discounts on taking club memberships, which further influences the purchasing decision of consumers.

Global sports luggage market

Online segment is anticipated to register the fastest CAGR of 4.6% over the forecast period. The growing e-commerce platforms and preference for online shopping have paved way for the consumers to have access to wide range of products offering. Many manufactures are increasing their focus on e-tailing to generate more traction by implementing direct-to-consumers process. For instance, Acushnet Holdings Corp, involved in distribution of golf products launched direct-to-consumers sales of golf gears via My Titleist online golf shop. With the help of this strategy, the company planned to expand their custom and special edition product offerings. As per the Federal Association of e-commerce and mail order (bevh), around 70% of the German sports goods retailers operating in e-tailing, use several online channels to promote and sell their products. The online strategy positively impacted the market growth.

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Grand View Research has segmented the global sports Luggage market on the basis of product, distribution channel and region:

Sports Luggage Product Outlook (Revenue, USD Million, 2015 – 2025)

  • Golf

  • Ball Sports

  • Racket Sports

  • Hockey

  • Cricket

  • Others

Sports Luggage Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)

  • Online

  • Offline

Sports Luggage Regional Outlook (Revenue, USD Million, 2015 – 2025)

  • North America

    • U.S.

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • Japan

  • Central & South America

    • Brazil

  • Middle east & Africa

    • Saudi Arabia

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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