The Indian sports and fitness goods market reached a value of US$ 3,621 Million in 2018. Sports goods refer to equipment and clothes that are required for participating in sports and preventing related injuries. On the other hand, fitness goods are a subset of sports goods, which are employed during workouts. These goods are widely utilized as they aid in maintaining overall fitness, improving flexibility, muscle strength, and cardiovascular and pulmonary health of an individual. In recent years, with the increasing focus on fitness, various institutions in India are encouraging people to actively participate in physical activities.
Due to the rising prevalence of lifestyle diseases, such as obesity, stroke, type 2 diabetes, heart disease and atherosclerosis, individuals in India have started focusing on their wellbeing. As a result, there is a rise in the number of gyms and fitness centers, which in turn is boosting the sales of sports and fitness goods in the country. Social media is acting as another catalyst in driving the growth of the market. Through social media channels, such as Facebook, Instagram and Twitter, sports and fitness product manufacturers are directly communicating with the audience. They are also using these platforms to advertise, thereby informing the potential customers about the specifications and functionalities of their products. Furthermore, the market is increasingly being driven by innovations in manufacturing technologies and domestic as well as international brands are offering a variety of advanced equipment. Some of these products include smart tennis racquets, speed training equipment, motorized treadmills and fitness bands. On account of these factors, IMARC Group expects the market value to reach US$ 6,054 Million by 2024, at a CAGR of 9.0% during the forecast period (2019-2024).
Breakup by Product Type:
At present, balls represent the most popular product type, owing to the growing popularity of sports, such as squash, hockey, cricket, tennis, bowling, table tennis, football, volleyball, basketball, dodge ball and handball. In addition to this, upcoming international sports events in India, such as Men’s and Women’s Hockey World League, and Women’s World T20, will further bolster the market growth.
Breakup by Fitness Goods:
Cardiovascular training goods account for the majority of the total market share as they help in increasing muscular endurance and improving the performance of the heart and lungs. This further aids in efficiently distributing the blood and oxygen to the rest of the body.
Breakup by Cardiovascular Training Goods:
Treadmills currently exhibit a clear dominance in the market as they provide an efficient aerobic workout that can be done without expert guidance.
Breakup by End-Use:
Health clubs/gyms hold the leading market share, owing to the high obesity rates and rising incidences of lifestyle diseases, which have increased the health consciousness among individuals.
On the geographical front, West and Central India represent the largest market. This can be attributed to the rapid urbanization and increasing per capita income in the region.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:
Key Questions Answered in This Report:
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