PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421643
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421643
The global sports luggage market size is expected to reach USD 3.92 billion by 2032, according to a new study by Polaris Market Research. The report "Sports Luggage Market Share, Size, Trends, Industry Analysis Report, By Sport (Golf, Ball Sports, Racket Sports, Hockey, Cricket, and Others); By Distribution Channel (Online, Offline); By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The significant increase in the prominence of outdoor sports due to several factors, including the emergence of health & wellness trends, the rising influence of social media and celebrity endorsement, and the growth in the number of international sports events, are major factors leading to demand and sales of sports luggage and driving the market growth. Additionally, with the rising focus of key companies on gaining a competitive edge or advantage, leading product manufacturers are developing more innovative products to cater to changing customer needs and demands, which in turn, positively influences the global market growth at a significant pace.
For instance, in April 2023, Wilson announced the launch of its new Gen Green Collection of sports equipment, which includes basketballs, volleyballs, and footballs featuring a trio of environmentally friendly materials. The new collection is developed with bi-based ethylene vinyl acetate foam made from sugarcane that produces two times less CO2 emissions.
Moreover, several new companies entering the market are embracing innovative technologies, materials, and features to make their product offerings distinct from their competitors and are also focusing on integrating smart features like GPS tracking and anti-theft mechanisms, that improve the functionality and convenience of products and boosting their popularity among wider customer base.
There has been a substantial proliferation of sports tourism due to the continuous expansion of sports facilities and the growing popularity of various international sporting events all over the world, which is likely to boost the demand for sports luggage to carry sports equipment conveniently while on the go.
The growing incorporation of advanced materials and manufacturing techniques has resulted in the development of sport luggage that is highly durable and weather-resistant and can also withstand rough handling and protect gear from rain, snow, or other environmental factors. It is likely to open up new growth avenues for the global market.
Polaris Market Research has segmented the sports luggage market report based on sport, distribution channel, and region: