The latest market report published by Acute Market Reports “Global Sports Protective Equipment Market - Growth, Future Prospects, Competitive Analysis, and Forecast, 2021 - 2029” the sports protective equipment market is expanding at a CAGR of 5.1% from 2021 to 2029.
Browse the full report Sports Protective Equipment Market - Growth, Future Prospects, Competitive Analysis, and Forecast, 2021 – 2029 at https://www.acutemarketreports.com/report/sports-protective-equipment-market
Market Insights
Protective equipment is designed specifically for the sports activities involved. The use of protective equipment helps to promote athlete safety and well-being. Sports protective equipment has undergone substantial design and technological advancement over the past few decades resulting in an impressive reduction in mortality and morbidity among athletes. Many sports have rules that govern compulsory equipment, while other athletes choose to wear certain protective equipment for their safety. Based on the type of product the sports protective equipment market is segmented as follows: helmets & other headgear, protective eyewear, face protection & mouth-guards, and pads, guards, chest protectors & gloves. Pads, guards, chest protectors & gloves held the largest share in the global sports protective equipment market and are expected to hold the leadership position throughout the forecast period. A growing initiative of sport association to develop and mandate these basic protective gears are acting as driving factors for the growth of the sports protective equipment market. On the basis of area of protection, the sports protective equipment market is segmented into head & face, trunk and thorax, upper extremity, and lower extremity. The Head & face segment continues to dominate the market, as it is made mandatory to wear headgear in particular sports to avoid fatal injury, and is expected to lead the market throughout the forecast period. The sport protective equipment market segmented based on distribution channels such as specialty retail stores, multi-retail stores, and online stores, and others. Among all the distribution channels, the specialty retail channel dominates the market. Specialty retail channel is the traditional channel for buying the sport product, thus generating maximum revenue. With the advent in technology, the emergence of a tech-savvy consumer base, usage of smartphones, and user-friendly apps available in the market, an online store is witnessing higher growth and anticipated to continue during the forecast period.
In 2020, North America formed the largest market for sports protective equipment market. The factors driving the North American sports protective equipment market are continuous rise in youth participation in sports activities. Moreover, initiatives taken by sports communities and associations further motivate the sports personnel have to actively participate in the sports activities. Hence, North America being an organized market for sports protective equipment due to better government initiatives, high disposable income to invest in the purchase of sports protective gear is the major factor for the growth and dominance of North America in the global sports protective equipment market. Asia-Pacific is the fastest-growing market for sports protective equipment in the world. The rising penetration of professional-level sports in the region is the major factor driving the market.
Market Competition Assessment:
The sports protective equipment market is observed as the most competitive market comprising a large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Nike, Inc., Adidas AG, Under Armour, Inc. Puma SE, Asics Corporation, Amer Sports Corporation, and others.
Key Market Movements:
