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Sports Luggage Market Growth, Trends, 2019-2025 | Industry Report

Sports Luggage Market Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619612  |  Published: April 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global sports luggage market size was accounted for USD 1.94 billion, in 2018. It is estimated to grow at a CAGR of 3.5% during the forecast period, 2019 to 2025. Rising spending on different sporting equipment that include luggage for various sports owing to rising participation and interest in different sporting activities as well as in professional sports is expected to propel the product demand over the forecast period.

Modern parents are conscious about growing health issues such as obesity in kids, which thereby influence them to involve their children in different sporting activities. Participating in different kinds of sports helps in boosting immunity and reducing obesity. Non-participants are 10 times more obese than participants. Hence, playing sports is beneficial for an individual to maintain a healthy lifestyle. According to Aspen Institute, in U.S., the percentage of overweight men and women are 35% and 39.5% respectively. Moreover, children with age group of 5 to 17 years are facing huge problems of obesity. This is expected to influence people to actively participate in different sporting activities, thereby proliferating the product demand over the forecast period.

China sports luggage market

Many people are choosing sports as their alternative career option owing to rising popularity of sports tourism. Moreover, rising number of tournaments and championships of different sports along with availability of multiple facilities across various developed as well as developing nations is anticipated to proliferate the product demand from 2019 to 2025. The National Golf Foundation reported that, approximately 36.0% of the total population in U.S. participated in golf out of which the number of young adults (age group: 18-39 years) is 24 million.

Increasing consumer expenditure on sporting goods coupled with rising disposable income levels are expected to fuel the market growth during the forthcoming years. Consumers prefer lightweight product that can sustain the weight of sporting equipment. However, fake products are highly affordable and easily available which is anticipated to restrain the market growth from 2019 to 2025.

Product Insights

Based on product, the market is further segmented into cricket, golf, racket, ball sports, hockey, and other such segments. In 2018, the segment of ball sports luggage held the largest share and is anticipated to maintain its leading position from 2019 to 2025 owing to increasing participation of youngsters and children in different ball sports such as volleyball, football, and basketball. According to the Australian Sports Commission, kids aged from 12-14 years widely participated in ball sports such as football, volleyball, and basketball. This is expected to propel the demand for sports luggage over the forecast period.

The segment of golf luggage accounted for the second-most position in terms of market share across the global sports luggage market and is projected to grow at the fastest CAGR of 3.3% from 2019 to 2025. Golf is one of the luxury sports played by niche consumer segments due to expensive sporting equipment including branded golf luggage. For instance, the participation of baby boomers in golf increased to 4.2 million in 2018 when compared to 2017. This is anticipated to further drive the demand for golf luggage.

Distribution Channel Insights

The segment of offline distribution channel held the largest revenue share in 2018. It is expected to maintain its leading position during the forthcoming years. Manufacturers of sporting equipment are trying to open large number of retail stores to expand their market share and serve the large consumer base. Moreover, these retail stores offer goods at discounted price and offer loyalty and club membership programs to their loyal customers. This is expected to have a positive impact on the sales of sports luggage through offline channel segment.

Global sports luggage market

The segment of online distribution channel is projected to grow at the highest CAGR of 4.6% from 2019 to 2025. Ease of accessibility and availability of wide range of products across the online retail stores is driving the growth. Moreover, manufacturers are launching their products across offline as well as online stores to expand their consumer reach and enhance their distribution network. Furthermore, doorstep delivery services, detail product information, consumer feedbacks and product review, easy payment options, and hassle free return policy are the factors expected to drive the product sales through online distribution channels. For example, one of the leading distributers of golf products, Acushnet Holdings Corp, offered their products through online golf store named My Titleist to promote direct-to-consumers product sales.

Regional Insights

In 2018, Asia Pacific dominated the market and is projected to maintain its dominance from 2019 to 2025 owing to rising expenditure on sporting goods along with increase in the buying power of consumers across the region. Moreover, increasing influence of Asian players performing spontaneously in various world tournaments such as Rio, Olympics, and Commonwealth Games is boosting the participation of youngsters and children in various sports. Children in this region are considering sports as a fruitful career option. Therefore these factors are expected to boost the growth of regional market over the forecast period.

In 2018, North America is estimated to be the second-most prominent market across the global sports luggage market owing to rising product demand and rising awareness about the benefits of participating in sports among the youngsters in this region. Furthermore, Central and South America is projected to grow at the fastest rate from 2019 to 2025.

Sports Luggage Market Share Insights

Presence of leading players such as Amer Sports; Adidas AG; PUMA SE; Nike, Inc.; Under Armour, Inc.; Yonex Co., Ltd; VF Corporation; Callaway Golf Company; Bridgestone Corporation; and Acushnet Holdings Corp has made the market highly competitive in nature. The leading companies focus on sponsoring with the best teams to create consumer awareness and brand promotion. Moreover, they are collaborating with celebrities to influence large consumer base and enhance their brand positioning. For example, Under Armour’s collaboration with wrestler Dwayne Johnson tops list of the best-matched celebrity endorsements. Furthermore, they are focusing on direct-to-consumers product sales strategy for business expansion. For example, one of the leading companies, Acushnet Holdings Corp, in 2018, introduced its website in U.K. to promote product sales through online distribution channel. It was exclusively launched for FootJoy which is one of the premium brands of golf shoes.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million & CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., U.K., Germany, Japan, China, Brazil, Saudi Arabia

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global sports luggage market report based on product, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Golf
    • Ball Sports
    • Racket Sports
    • Hockey
    • Cricket
    • Others

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Online
    • Offline

• 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 (MEA)
        • Saudi Arabia

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