According to a recent study conducted by Fact.MR, the global sport accessories market is expected to grow at a steady CAGR from 2021 to 2031. According to MR’s analysis, the global market for sport accessories would generate almost US$ 95,000 million in revenue by the end of 2031.
Around the last few years, there has been a huge increase in demand for adventure sports all over the world. Several corporate and government organizations in developed economies, such as Australia, the United States, and the United Kingdom, are launching initiatives like the Women Festival of Cycling and the Challenge Ride Series 2021 to encourage people to use bicycles for adventure sports and transportation. Ball sports such as soccer, rugby, and cricket are experiencing a spike in popularity, as well as increased participation rates. These variables may have an impact on the global sport accessories market’s growth in the next years.
- Adidas AG
- NIKE Inc.
- PUMA SE
- Wolverine World Wide Inc.
- V.F. Corporation
- New Balance Inc.
- Apple Inc.
- ASCIS Corporation
- Everlast Worldwide Inc.
- Under Armour Inc.
- Decathlon S.A
are the key market participants profiled in Fact.MR’s report.
The European Union will lead the global market for sport accessories.
Over the next several years, Europe is likely to lead the worldwide sport accessories industry in terms of revenue. This is primarily due to the high level of interest in sports in the region.
Furthermore, the growing number of professional athletes in Europe is propelling the industry forward in the area. During the projection period, the markets in North America and Asia-Pacific except Japan (APEJ) are expected to rise at a rapid pace.
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