The Sports & Leisure Equipment segment in India registered Market value of USD 7,645.29 Millions in 2024
The indicator recorded a historical growth (CAGR) of 9.96% 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 India (2018 - 2026, USD Millions)
Sports & Leisure Equipment Segment in India
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 Indian sports equipment retail market experienced prolific growth during the historic period, which was offset by a decline in market value during 2020. Weak growth is expected in 2021, with strong growth scheduled to return over the remaining 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 COVID-19 pandemic had a strong influence on sports equipment sales during 2020. Store closures during periods of lockdown as well as social distancing restrictions preventing professional and amateur team sports from taking place had a negative impact during 2020. On the other hand, the closure of gyms and sporting facilities stimulated an increase in demand for home sports equipment.
Competitive landscape
The Indian sports retail market experienced healthy growth in 2020. The market consists of global sports brands Nike and Adidas, as well as one of the largest global sports equipment retailers, Decathlon, which is headquartered in France but has a significant presence in India. Competition is emerging from Berlin-based SIGNA Sports United, which has experienced significant growth in the online pureplay market, particularly in 2020, when the global pandemic accelerated online sales. 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 such as V2 Retail Limited, sports brands and equipment manufacturers, and e-commerce companies such as Flipkart and Amazon. 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 Indian sports equipment retail market.
Who are the leading players?
Decathlon S.A.
V2 Retail Limited
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China
Germany
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