The Sports & Leisure Equipment segment in Canada registered Market value of USD 9,627.02 Millions in 2024
The indicator recorded a historical growth (CAGR) of 1.47% between 2021 to 2024, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
The Market value of Sports & Leisure Equipment Segment in Canada (2018 - 2026, USD Millions)
Sports & Leisure Equipment Segment in Canada
Sports equipment Includes ball sports equipment, adventure sports equipment, fishing equipment, golf equipment, racket sports equipment, winter sports equipment, specialist footwear, and all other sports-dedicated equipment. Gym equipment is included; however, Smart Watches and Nutrition supplements are not. It excludes all B2B sales made to sports associations and clubs.
The Canadian sports equipment retail market experienced strong growth during the historic period, which was spearheaded by a surge in market value during 2020. The market is expected to cool down over the forecast period. The primary factors driving the sports equipment retail market are the country’s levels of sports participation and the financial power of end-users. When sports participation is high, then demand for sports equipment is high as well; however, due to the nature of the market, there comes a point where it becomes saturated and this is because consumers would already own sports equipment of some kind, making them unwilling to swap it for a new one. This is where consumers’ financial power comes into play, where consumers with high financial power would be more than willing to change their old sports equipment, such as old sports shoes for new ones or the next year’s edition, driving demand up. On the other hand, consumers with low financial power will hold on to their existing sports equipment for a longer period, offsetting that demand.
COVID-19 Impact
The 2020 global COVID-19 pandemic and accompanying lockdown measures have severely restricted sports participation both at the amateur and professional levels. In addition, sports facilities including gyms, health clubs, tennis courts, and golf courses have been closed. This significant curtailing of end-users of sports equipment (retail consumers) is likely to have a detrimental effect on this market in 2020. On the other hand, end-consumers who are not professional athletes still required exercise and the closure of gyms and discontinuation of team sports caused an increase in demand for home sports equipment and outdoor equipment, such as exercise bikes. A surge in home exercise equipment during the pandemic spearheaded an increase in market value during 2020.
Competitive landscape
The Canadian sports retail market experienced healthy growth in 2020. The market consists of four main leaders including global sports brands Nike and Adidas and local retailers Canadian Tire and Mountain Equipment. However, these companies still account for a relatively small percentage of the market value with leading players competing with other specialist sports equipment retailers, department stores, general retailers, sports brands, and equipment manufacturers. This highly fragmented market creates a highly competitive environment that is dynamic and brand-focused.
Market distribution
Other Specialist Retail form the leading distribution channel in the Canadian sports equipment retail market.
Who are the leading players?
Mountain Equipment Co-op
United States of America
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China
Germany
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