The ‘Indian Sports and Fitness Goods Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Indian sports and fitness goods market share, assessing the market on the basis of its segments like product type, fitness goods, cardiovascular training goods, end use, and region.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 4,678.22 million
- Forecast CAGR (2023-2028): 8.9%
- Forecast Market Size (2028): USD 7,802.77 million
In India, increasing prevalence of lifestyle conditions such as obesity, stroke, type 2 diabetes, and heart disease are leading to a rising focus on health, fitness, and sports, driving the Indian sports and fitness goods market growth. Growing consumer concerns about their health and the rising disposable incomes of consumers are increasing their interest in sports and fitness goods.
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Individuals with sedentary jobs, particularly in urban cities, are increasingly turning to gyms and fitness centres to stay fit and maintain their health. More gyms and fitness centres are opening up, along with the launch of different sports and fitness classes online and offline. Numerous institutes in India are encouraging individuals to actively engage in physical activities as the emphasis on fitness has increased in recent years.
Based on product type, the balls segment is witnessing significant growth in the sports and fitness goods market in India. Sports including squash, table tennis, cricket, hockey, basketball, tennis, dodge ball, bowling, football, volleyball, and handball, among others, are becoming more popular, which is driving the growth of the segment. The growth of the Indian sports and fitness goods market is also expected to be boosted by rising popularity of international sporting events, leading to a greater interest in playing sports.
Industry Definition and Major Segments
Sports goods are the equipment and clothing required to participate in a sport and that help lower the risk of accidents while participating in that sport. Meanwhile, fitness goods are a subset of sporting goods that are primarily utilised for exercise and fitness. People regularly use these goods because of their suitability for their designed application, resulting in greater safety and enjoyment.
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Based on product type, the market is segmented into:
- Fitness Goods
- Adventure Sports
- Golf Goods
On the basis of fitness goods, the market is bifurcated into:
- Cardiovascular Training Goods
- Strength Training Goods
By cardiovascular training goods, the market is categorised into:
- Stationary Bikes
- Rowing Machines
Based on end use, the market is segmented into:
- Health Clubs/Gyms
- Home Consumers
- Hotels and Corporate Offices
- Hospitals, Medical Centres, and Public Institutions
On the basis of region, the market is divided into:
- North India
- South India
- East India
- West and Central India
Indian Sports and Fitness Goods Market Trends
Social media is one of the key trends accelerating the Indian sports and fitness goods market growth. The rising popularity of various sports and fitness influencers is increasing the knowledge of the general public regarding specific sports and exercises, augmenting consumer interest. Sports and fitness product manufacturers can also communicate with their target audience directly through social media platforms like Facebook, Instagram, and Twitter, among others. Manufacturers can use social media platforms for advertising, which helps them to tell potential buyers about the features and specifications of their products.
Additionally, the Indian sports and fitness goods market is being driven by advancements in manufacturing technologies, with domestic as well as international companies using a variety of advanced machinery for specialised production processes. Advanced products include smart treadmills, smart tennis racquets, equipment for speed training, and fitness bracelets. The increasing accessibility of sporting and fitness equipment made by well-known multinational manufacturers is augmenting the sports and fitness goods market in India.
In addition, a significant portion of society, particularly the younger generation, are venturing into atypical fitness activities like kickboxing, Zumba, trekking, ice skating, and aerobics. Accordingly, the Indian sports and fitness goods market expansion is being fuelled by the rise in the number of specialised gyms and fitness centres, which has increased demand for sports and fitness goods nationwide.
Key Market Players
The major players in the Indian sports and fitness goods market report are Cosco (India) Limited, Bhalla International – Vinex, Nivia Sports Private Limited, and Sanspareils Greenlands Private Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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