Winter Sporting Goods Industry Overview
The global winter sporting goods market size was valued at USD 369.9 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028.
The rising popularity of outdoor activities including snow sports among consumers, because of the growing awareness regarding these sports’ mental and physical benefits, is driving the winter sporting goods demand, thereby supporting this market’s growth. The growing consumer interest in nature-based sports that offer leisure, as well as competitiveness, has been promoting the demand for winter sports products including sleds and tubes.
Gather more insights about the market drivers, restrains and growth of the Global Winter Sporting Goods Market
The increasing concern among consumers for a healthy lifestyle coupled with the rising acceptance of various winter sports activities, such as skiing, snowboarding, cross-country skiing, sledding, and ice skating, especially in countries with cold weather like the U.S., Canada, Germany, Sweden, France, and Austria, has increased the popularity of winter sports. The growing popularity of several winter sports, including figure skating, bobsled, luge, and Alpine snowboarding in the Olympic Games, is also boosting the growth of the market for winter sporting goods.
Increasing women’s participation in various sports including winter sports is a major factor likely to boost this market’s growth. According to the British Broadcasting Corporation (BBC), the difference between the number of men and women participating in sports in England has dropped to 1.55 million in 2018 from 1.85 million in 2016. This gap is expected to reduce further over the upcoming years, which will have a positive impact on the demand for winter sporting goods.
The rising cases of lifestyle-related health issues, such as stress and obesity, are pushing an increasing number of people to engage in sports and fitness activities, which, in turn, is fueling the demand for comfortable and stylish winter sports goods, including sleds. Sledding is a popular winter activity that has witnessed an increase in the number of amateur and individual enthusiasts, as it a simple and easy sports activity to be engaged in during winters. Sledding is performed in a seated position on a special sled that is made of different kinds of materials like plastic, foam, as well as wood. The sport is among the most favorite winter pastimes among people engaging in a quality family outdoor sports activity.
The COVID-19 (coronavirus) outbreak that began in China during the first half of 2020 is likely to diminish the growth of the market for winter sporting goods. Many manufacturers in the market have been historically relying on the Chinese market for both finished products as well as raw materials used in the manufacturing of various types of winter sporting goods.
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- Snow Sports Apparel Market - The global snow sports apparel market size to be valued at USD 3.5 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% during the forecast period. Growing safety awareness among the winter sports players due to increasing occurrences of fatal accidents is projected to promote the usage of protective gear including shell tops.
- Sports Equipment Market - The global sports equipment market size was valued at USD 331.4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030. Continuous innovations and rapid technological advancements to keep pace with dynamic consumer preferences are driving the growth of the market.
Winter Sporting Goods Market Segmentation
Grand View Research has segmented the global winter sporting goods market on the basis of product, distribution channel, and region:
Winter Sporting Goods Product Outlook (Revenue, USD Million, 2016 - 2028)
Winter Sporting Goods Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
Winter Sporting Goods Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- Central South America
- Middle East Africa
Key Companies profiled:
Some prominent players in the global winter sporting goods market include
- Tube Pro, Inc.
- Airhead Sports Group
- L.L. Bean
- Agit Global, Inc.
- Bestway Inflatables Material Corp.
- Emsco Group
- Slippery Racer
- Franklin Sports Inc.
- Gizmo Riders
- Surf 9 LLC
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