PUBLISHER: Allied Market Research | PRODUCT CODE: 1140394
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140394
The global sports training market was valued at $11.00 billion in 2021, and is projected to reach $18.85 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031. North America was the highest revenue contributor and is estimated to reach $5,7 billion by 2031, with a CAGR of 4.2%.
In the past few years, there has been a considerable increase in the number of women participating in sports and fitness events. Women professionals have become conscious about their health, thus, they opt for fitness programs such as yoga or Zumba and visit fitness centers in order to remain physically fit. In addition, the women engagement in sports fitness have raised owing to the fitness and rising interest in sports activities which is directly boosting the sports training demand.
Sport training requires well equipped facilities and sound infrastructure playing the sport along with a certified trainer who was either a past player of the sport or is a specialist of the sport. The cost of admissions into such facilities can be very high, and the amount to be paid to the trainers is also high due to the level of expertise of the trainer. Many consumers, especially in the developing and underdeveloped countries in the world, belong to the middle and lower income groups and do not have enough money to spare for recreational activities or hobbies. They are unable to pay the high prices of sports training or facility costs, which make them unable to avail the training facilities. This inability of several consumers to pay the high costs for training and infrastructure benefits creates restrictions for market growth.
Various big brands are entering the untapped market where lack of availability of sports facilities and products is witnessed. These key players are setting up sports facilities, sports centers, and play grounds, and correspondingly promoting their products. Likewise, various organizations and NGOs are donating the sports equipment and apparel, building sports facilities, conducting free of cost sports competitions, and training the potential athletes free of cost. Moreover, developing interest of the youth in sports in order to remain fit is anticipated to offer potential opportunities to the market in the near future. These factors altogether significantly contribute towards the growth of the market in untapped regions.
The sports training market is segmented into form, sports type, application, medium, age group, and region. On the basis of form, the market is categorized into Academy/Coaching, therapy, Sports Analytics, and others. On the basis of sports type, it is divided into soccer, cricket, basketball and volleyball. By application, the market is segmented into women, men, and kids. On the basis of medium, the market is divided into online and offline. By age group, the market is divided into below 20, 21-35, 35 & above, and others. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, Australia & New Zealand, South Korea, India and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
By sports type, soccer segment was the highest contributor to the market, in 2021, and is estimated to grow at a CAGR of 5.3% during the forecast period. However, the volleyball segment is expected to witness higher growth rate during the forecast.
By Sports Type
By Form
By Application
By Age Group
By Medum
By Region