The Sports & Leisure Equipment segment in Japan registered Market value of USD 19,082.58 Millions in 2024
The indicator recorded a historical decline (CAGR) of 3.78% 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 Japan (2018 - 2026, USD Millions)
Sports & Leisure Equipment Segment in Japan
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 Japanese sports equipment retail market experienced moderate growth during the historic period. Weaker growth was recorded in 2020 but remained positive. A surge in market value is expected in 2021 before returning to the modest pace experienced in recent years over the rest of 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 saw in many countries have severely restricted sports participation, both at the amateur and professional level. What’s more, many countries have closed sports facilities including gyms, health clubs, tennis courts, and golf courses as lockdown restrictions are imposed. This significant curtailing of the end-use of sports equipment is likely to have a detrimental effect on this market in 2020 and perhaps beyond. On the other hand, end consumers who are not professional athletes, still require sports equipment to exercise at home; however, the demand would be relatively low, compared to demand from professional athletes.
Competitive Landscape
The Japanese sports retail market experienced healthy growth in 2020. The market consists of global sports brands Nike and Adidas, as well as large domestic sports brands including Mizuno and Globeride. 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, and e-commerce companies such as 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 Japanese sports equipment retail market.
Who are the leading players?
Mizuno Corporation
Globeride, Inc.
COVID-19 Impact
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China
Germany
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