The global E-commerce Sports and Outdoor Market size is expected to reach USD 254.2 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 6.8% from 2021 to 2028. The market growth can be attributed to the growing demand for sports and outdoor products from developed countries.
One of the newest trends in the industry is the combination of athletic and casual designs for the development of fitness equipment, which is likely to deliver a significant push to the growth of the market. Growing urbanization, rising disposable income, and improving the standard of living are translating into a greater inclination towards sports to safeguard a healthy lifestyle. All these factors are expected to drive the market in the coming years.
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Moreover, various research and development programs have been introduced by manufacturers to improve the quality of these sport and outdoor products. Furthermore, young working-class people are mostly leading sedentary lifestyles that make this segment of the population more liable to a host of lifestyle diseases. In order to stay fit, they are involved in sports, which, in turn, is expected to drive the demand for these products in the near future.
The others type segment is projected to witness considerable growth during the forecast period. The others type segment consists of sport and outdoor items, swimming accessories, and winter sports gear. This growth is credited to the accumulative demand for these products in developed and cold regions, such as Europe and North America. The rising tourism industry may also propel the consumers to take part in snow sports including ski. Thus, all these factors are likely to drive the segment in the coming years.
Europe is anticipated to witness lucrative growth during the forecast period. The increasing demand for winter sports gear in this region is driving this market. This growth is accredited to the solid foothold of consumers partaking in skiing as a recreational activity in countries like the U.K. and Germany.
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E-commerce Sports & Outdoor Market Report Highlights:
• Asia Pacific is expected to expand at the fastest CAGR of 7.0% from 2021 to 2028 owing to the growing demand for sports and outdoor products from developing nations, such as China, Japan, and India
• The outdoor and sports clothing type segment held the largest revenue share of over 95.0% in 2020 owing to the rising demand for these products from developed regions
• North America dominated the market with over 30.0% share in 2020 owing to rising demand for outdoor and sports clothing products as a result of growing awareness regarding healthy lifestyle in this region
E-commerce Sports & Outdoor Market Segmentation
Million Insights has segmented the global e-commerce sports and outdoor market on the basis of type and region:
E-commerce Sports & Outdoor Type Outlook (Revenue, USD Million, 2017 – 2028)
E-commerce Sports & Outdoor Regional Outlook (Revenue, USD Million, 2017 – 2028)
List of Key Players of E-commerce Sports & Outdoor Market
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About Million Insights
Million Insights, is a market research and consulting company, provides syndicated as well as customized research reports and consulting services. We have a comprehensive marketplace, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
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