Sports Luggage Market Set Foot On USD 2.47 Billion From 2019 TO 2025

Mar 24, 2020: 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.

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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.

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.

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

• 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

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Table of Contents

Chapter 1. Methodology and Scope

1.1. Market Segmentation & Scope

1.2. Market Definition

1.3. Information Procurement

1.3.1. Purchased Database

1.3.2. GVR’s Internal Database

1.3.3. Secondary Sources & Third-Party Perspectives

1.3.4. Primary Research

1.4. Information Analysis

1.4.1. Data Analysis Models

1.5. Market Formulation & Data Visualization

1.6. Data Validation & Publishing

Chapter 2. Executive Summary

2.1. Market Outlook

2.2. Segmental Outlook

2.3. Competitive Insights

Chapter 3. Sports Luggage Market Variables, Trends & Scope

3.1. Market Introduction

3.2. Penetration & Growth Prospect Mapping

3.3. Industry Value Chain Analysis

3.3.1. Sales/Retail Channel Analysis

3.3.2. Profit Margin Analysis

3.4. Market Dynamics

3.4.1. Market Driver Analysis

3.4.2. Market Restraint Analysis

3.4.3. Industry Challenges

3.4.4. Industry Opportunities

3.5. Business Environment Analysis

3.5.1. Industry Analysis – Porter’s

3.5.1.1. Supplier Power

3.5.1.2. Buyer Power

3.5.1.3. Substitution Threat

3.5.1.4. Threat from New Entrant

3.5.1.5. Competitive Rivalry

3.6. Roadmap of Sports Luggage Market

3.7. Market Entry Strategies

Continued……………

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