India Sports and Fitness Goods Market to Grow at 6.7% During 2023-2028, Impelled by Rising Health Consciousness

December 30, 2021 | Retail

According to the latest report by IMARC Group, titled "India Sports and Fitness Goods Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the India sports and fitness goods market reached a value of US$ 2,094.5 Million in 2022. Sports and fitness goods encompass various tools, materials, monitoring devices, gear, and apparel required for performing sports and fitness activities. Depending on the use, they can be divided into game and player goods. Some of the common products include balls, nets, racquets, sticks and bats, footwear, clothing, and training equipment. Sports and fitness goods are made by using comfortable and flexible materials that ensure workability, comfort, and desired functional performance. They are also worn to prevent sports-related injuries, thereby aiding the wearer in maintaining overall fitness. In addition to this, manufacturers are incorporating replicable technologies that protects the end-product against temperature fluctuations, ultraviolet (UV) light, and microbes, while blocking radiations.


India Sports and Fitness Goods Market Trends:

The increasing health consciousness and the shifting inclination toward physical fitness activities due to the rising prevalence of lifestyle diseases and continuous growth in disposable incomes are majorly driving the India sports and fitness goods market growth. In line with this, self-care is becoming a vital part of consumer health amid the coronavirus disease (COVID-19) pandemic, which has resulted in an increase in the demand for home gyms, fitness centers, and other fitness related activities. This is acting as a major growth-inducing factor. Additionally, rising investments by the Government of India (GoI) in infrastructure development, such as upgrading various existing stadiums, parks, clubs, school grounds, and health centers, are further facilitating the demand for sports and fitness goods across the country. Moreover, the advent of social media, along with continuous brand collaborations with fitness influencers to create awareness regarding the health benefits of an active lifestyle are also catalyzing the market growth. Rapid advancements in manufacturing technologies and the introduction of innovative product variants, such as smart tennis racquets, motorized treadmills, fitness bands, and clothing made from nano and microfibers with comfortable padding, are creating a positive outlook for the market. Besides this, manufacturers are putting their products through rigorous performance testing to ensure it can withstand its intended use, while complying with safety standards and requirements, which, in turn, is catalyzing the market growth. Looking forward, the market is expected to grow at a CAGR of 6.7% during 2023-2028.


Market Summary:

  • Based on the product type, the market has been divided into balls, fitness goods, adventure sports, golf goods, and other goods. At present, fitness goods represent the most popular product type.
  • On the basis of the fitness goods, the market has been bifurcated into cardiovascular and strength training goods. Amongst these, cardiovascular training goods account for the majority of the total market share.
  • Based on the cardiovascular training goods, the market has been categorized into treadmills, stationary bikes, rowing machines, ellipticals, and others. Treadmills currently exhibit a clear dominance in the market.
  • On the basis of the end-use, the market has been segmented into health clubs/gyms, home consumers, hotels and corporate offices, hospitals, medical centers, and public institutions, and others. Presently, health clubs/gyms hold the leading market share.
  • On the geographical front, West and Central India represent the largest market.
  • The competitive landscape of the market has been examined, with some of the key players being Cosco (India) Limited, Nivia Sports Private Limited (Freewill Sports Pvt. Ltd.), Bhalla International – Vinex Sports, Sareen Sports Industries, Sansparelis Greenland Private Limited.


Report Scope:
 

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Million
Segment Coverage Product Type, Fitness Goods, Cardiovascular Training Goods, End-Use, Region
Region Covered West and Central India, North India, South India, East India
Companies Covered Cosco (India) Limited, Nivia Sports Private Limited (Freewill Sports Pvt. Ltd.), Bhalla International – Vinex Sports, Sareen Sports Industries and Sansparelis Greenland Private Limited
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


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India Sports and Fitness Goods Market to Grow at 6.7% During 2023-2028, Impelled by Rising Health Consciousness
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