Sports Luggage Market Size, Share, Global Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Sports Luggage Market


The global sports luggage market size was valued at USD 1.94 billion in 2018 and is expected to expand at a CAGR of 3.5% over the forecast period. Growing interest and participation in different sports is anticipated to boost the consumer expenditure on sporting goods, including sports luggage. This factor is expected to fuel the market growth. Rising participation in professional sports is expected to encourage product demand in this market in the forthcoming years.

Rising awareness among parents regarding child obesity as well as active involvement in promoting camaraderie and confidence among kids is expected to increase children involvement in sports. Sports participation significantly helps combat the obesity epidemic. The participants are likely to be one-tenth times less obese than non-participants. In U.S., the participation of children in sports witnessed a significant rise. 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 market.

Also, growing sports tourism is increasing popularity of sports along with increasing chances of getting broadcasted in many media channels. This factor is attracting many to opt sports as a career option. Significant growth in sport tourism as a result of expansion of sports facilities across the globe, coupled with increasing number of sports tournaments, is expected to drive the demand for sports in the forthcoming years.As per the annual study done by The National Golf Foundation, the golf participation in U.S. was nearly 36.0%, out of which 24 million golfers are young adults, aged between 18 to 39 years. Over 15 million millennials are interested in taking up the game in the coming years.

Growing disposable income and sports expenditure, is likely to propel the demand for sports luggage over the forecast period. Demand for lightweight bags that can carry several sports equipment is one of the major factors impacting consumers purchasing decision. Whereas, easy availability of counterfeit products is likely to create obstacles for market growth. Counterfeit products are priced at much lower cost compared to the branded products price, which is expected to impact the sales of the key players operating in the market.

Product Insights of Sports Luggage Market

By product, the sports luggage market is divided into golf, ball sports, racket, hockey, cricket, and other types of sports luggage. Ball sports accounted for the largest market share in 2018 and is estimated to be the fastest growing segment over the forecasted period. Growing popularity of ball sports, such as football, basketball, and volleyball is projected to boost the segment growth. 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.

Golf luggage is held the second largest market share in 2018 and is estimated to register a CAGR of 3.3% over the forecasted period. Despite a smaller number of golf players compared to other sports, the segment is expected to witness significant growth, due to higher price of luggage and presence of branded products. Also, increasing interest of consumers in golf as a leisure activity is supporting the growth. In 2018, approximately 4.2 million baby boomers played golf, witnessing an increase from 3.6 million in 2017.

Distribution Channel Insights

On the basis of distribution channel, the market has been segmented into offline and online. Offline is the largest segment and is expected to continue leading over the forecasted period. Sports good manufacturers are increasing number of retail outlets as a part of market expansion strategy. Retailers also offer product discounts on taking club memberships, which further influences the purchasing decision of consumers.

Online segment is anticipated to register the fastest CAGR of 4.6% over the forecast period. The growing e-commerce platforms and preference for online shopping have paved way for the consumers to have access to wide range of products offering. Many manufactures are increasing their focus on e-tailing to generate more traction by implementing direct-to-consumers process. For instance, Acushnet Holdings Corp, involved in distribution of golf products launched direct-to-consumers sales of golf gears via My Titleist online golf shop. With the help of this strategy, the company planned to expand their custom and special edition product offerings. As per the Federal Association of e-commerce and mail order (bevh), around 70% of the German sports goods retailers operating in e-tailing, use several online channels to promote and sell their products. The online strategy positively impacted the market growth.

Regional Insights of Sports Luggage Market

Asia Pacific was estimated to be the largest and fastest regional segment in 2018 and is expected to continue leading over the forecast period, attributed to the rising participation in sports and increasing disposable income of the middle-class population. A rise in sports tournaments and increasing number of participants in the region are other significant regional growth drivers. Strong performance of Asian players in Rio 2016 is likely to have a significant impact on various governments in the region to embrace sports and create a suitable environment to make sports popular. This is creating opportunities for manufacturers in the region to have a strong foothold on the market by providing better services and products as per consumer demand.

North America held the second largest market for sports luggage in 2018 and is estimated to be hold the same position over the forecasted period. The growth is majorly supported by increasing number of younger participants in sports. Central and South America is also estimated to witness significant growth over the forecasted period.

Market Share Insights of Sports Luggage Market

Some of the key market players 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. The companies focus on sponsorships and partnerships with elite sports teams to gain greater foothold and increase brand awareness among consumers. For instance, in 2019, Nike extended their technical partnership with Brighton and Hove Albion for three more years to supply playing and training kit for the mens and womens teams of Premier League clubs.

In July 2018, Puma signed Europes three most prestigious teams, namely, A.C. Milan from Italy, Olympique de Marseille from France, and Borussia Monchenglad-bach from Germany to provide new kits from Puma Football Club.  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.
Key players are also increasing their reach by implementing direct-to-consumers sales as a part of expansion strategy. For instance, in 2018, Acushnet Holdings Corp launched an e-commerce website for FootJoys luxury brand, FJ1857.com in U.K. and Japan, launched eCommerce websites for Titleist golf gear.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Sports Luggage Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the sports luggage market report on the basis of product, distribution channel, and region:

Product Outlook (Revenue, USD Million, 2019 - 2030)

  
Golf
  
Ball Sports
  
Racket Sports
  
Hockey
  
Cricket
  
Others

Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)

  
Online
  
Offline