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Sports Protective Equipment Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global sports protective equipment market size was valued at USD 8.53 billion in 2022 and is projected to grow at a CAGR of 8.2% from 2023 to 2030. The rising popularity of various outdoor and indoor sports and the growing awareness regarding the safety of sports players are the major driving factors for the market. Furthermore, the increasing number of organized sports leagues and the rising participation of people in sporting activities are also expected to ramp up the demand for these products.
The rising product launches by market participants to cater to the growing demand of consumers is likely to result in the growth of the market. For instance, in April 2021, Mizuno USA, Inc. launched a new line of protective sports products to offer additional protection on the court and in the field. The products include a full-face shield, an arm shield, a chest protector, and a leg guard. These products are designed to provide players with additional protection during sports activities.
The increasing demand for protective sports gear such as helmets, mouth guards, and shin guards is also expected to drive the market. Manufacturers are now focusing on developing products with improved features to enhance the performance of the players. For instance, in June 2021, Under Armour, Inc. launched a new line of protective sports gear, including the UA Iso-Chill technology which is designed to keep the head cool during long periods of play.
In addition, the increasing penetration of smart technologies in protective sports equipment is likely to boost the market growth. For instance, in June 2021, Skyshot Sports launched the world’s first smart helmet with integrated sensors and a mobile application. The helmet is designed to provide real-time data to improve the performance of athletes and reduce the risk of injuries. Furthermore, the rising trend of customized protective sports products is expected to drive the market in the coming years.
The growing popularity of extreme sports such as skateboarding and mountain biking is also expected to fuel the growth of the market. The rising demand for protective sports apparel for extreme sports activities is likely to support the market growth. Additionally, the increasing number of corporate sponsorships and investments in sports is expected to create further opportunities for the market.
Product Insights
The helmets segment held the largest market share of over 40% in 2020. The growing popularity of various sports such as football, hockey, and motor sports is driving the demand for helmets. Moreover, increasing awareness among consumers regarding the safety of players and the introduction of various protective equipment in the market are some of the key factors driving the growth of the helmets segment. According to an article published by the International Journal of Science and Research (IJSR), in February 2020, the global sports helmet market will reach USD 11.7 billion by 2024.
The protective eyewear segment is anticipated to witness the fastest CAGR of 7.5% over the forecast period. The increasing demand for protective eyewear due to its potential to minimize the risk of eye injuries while playing sports is driving its adoption. Moreover, the introduction of new types of protective eyewear such as prescription sports protective eyewear is boosting the growth of the segment. According to an article published by Vision Monday, in October 2020, the protective eyewear market is expected to reach USD 10.4 billion by 2030.
Distribution Channel Insights
The retail stores segment accounted for the largest market share of over 39.1% in 2022. The growth of the segment is mainly driven by the increasing availability of sports protective equipment products across various retail stores. For instance, in 2019, DICK’S Sporting Goods Inc. opened its largest store in the US in the Georgetown neighborhood of Washington, DC. The store offers a wide range of sports-related products such as footwear, apparel, team sports equipment, outdoor gear, hunting & fishing, and racquet sports. Furthermore, customers prefer retail stores as they can touch, feel, and select the product of their choice.
The online segment is anticipated to expand at the highest CAGR of 11.6% over the forecast period. The growth of the segment is mainly driven by the availability of sports protective equipment products on various online platforms. For instance, in 2019, Amazon launched a store dedicated to sports protective equipment. The store offers a wide range of sports protective equipment such as helmets, gloves, pads, guards, and apparel. Furthermore, the e-commerce platform enables customers to purchase the product of their choice with a few clicks and offers discounts, cashback, and coupons, which attracts more customers.
Type Insights
The helmets segment is estimated to account for the largest revenue share of over 41.2% in the year 2022. This is attributed to the increasing awareness about the importance of protective equipment in sports activities and growing participation in adventure sports. In addition, the growing popularity of sports such as football, baseball, and cycling among the younger generation is expected to drive the demand for helmets. Moreover, innovative product launches such as the EYECAN designed by the Australian company, Skunk Werks, is anticipated to boost the market growth in the forecast period.
The protective clothing segment is estimated to expand at the highest CAGR of 8.0% over the forecast period. This can be attributed to the increasing emphasis on safety by players and the use of protective clothing in adventure sports such as skydiving and mountain biking. Moreover, the growing preference for stylish and comfortable protective clothing is also expected to be a key driver of the market. For instance, in April 2021, Under Armour, Inc. launched its new line of protective clothing, called “Protection”, which is designed to offer superior protection and comfort to the athletes.
Regional Insights
Europe is expected to dominate the market and is projected to have a market share of over 34.2% by 2022. This growth can be attributed to the increasing popularity of sports such as football, rugby, hockey, athletics, and cricket in the region. Additionally, the presence of prominent sporting events in the region is further driving the demand for sports protective equipment products. For instance, in June 2021, the UEFA EURO 2020 tournament was held in 12 cities throughout Europe, leading to an increase in demand for protective gear.
North America is expected to be the second-largest market and is projected to be valued at USD 2.6 billion by 2022. The presence of prominent players in the region is a major factor driving the market. For instance, in June 2021, Nike unveiled its new ‘Vapor Edge Pro 360’ cleats, designed to provide superior support and protection to the feet of football players.
Financial Projections
In this part of the sports protective equipment business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections, capital requirements, and breakeven analysis for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a sports protective equipment business comes from the sale of protective gear, such as helmets, padding, and other protective apparel. Here you will find a list with a description of each of them and other possible sources of profit such as custom orders, discounts, and endorsements.
Projecting Expenses
In this section, all the regular expenses related to keeping the sports protective equipment business running will be described. The list of operating expenses includes web hosting, payroll, marketing and advertising, inventory, shipping and handling, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the sports protective equipment market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In September 2022, Nike Inc. launched a new line of protective gear for football players, including helmets, shoulder pads, and leg guards.
– In October 2022, Adidas AG launched a new line of protective gear for basketball players, including helmets, elbow pads, and knee pads.
– In November 2022, Puma launched the Pro-X series of protective gear for cricket, including helmets, chest pads, and leg pads.
Some of the prominent players in the sports protective equipment market include:
– Nike Inc.
– Adidas AG
– Puma
– Under Armour Inc.
– Easton-Bell Sports, Inc.
– Bauer Hockey, Inc.
– Franklin Sports, Inc.
– McDavid, Inc.
– Riddell, Inc.
– Xenith, LLC.
Global Sports Protective Equipment Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global sports protective equipment market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Helmets
– Goggles
– Mouth Guards
– Shin/Knee Pads
– Protective Apparel
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Main Drivers of the Sports Protective Equipment Market?
[A]: The increasing participation in various sports activities, rising awareness about the importance of safety and protective gear, and the growth in the number of organized sports events are the main drivers of the sports protective equipment market. Furthermore, the increasing popularity of adventure sports, technological advancements, and the rising disposable income of people across the globe are also driving the market growth.
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation has played a vital role in the sports protective equipment market. Manufacturers are continuously introducing innovative and improved products to meet the growing demand from consumers. For instance, manufacturers are increasingly focusing on manufacturing products that offer enhanced comfort, breathability, and flexibility.
[Q]: Who are the Key Players in the Sports Protective Equipment Market?
[A]: Some of the key players in the sports protective equipment market include Nike, Inc., The Adidas Group, Under Armour, Inc., Puma SE, Amer Sports Corporation, and ASICS Corporation.
[Q]: What are the Major Regional Segments of the Sports Protective Equipment Market?
[A]: The global market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, based on region. North America is expected to be the largest market due to the presence of numerous sports leagues in the region. Asia Pacific is also expected to be a major contributor to the market due to the rising awareness about safety and protective gear in the region.
[Q]: What are the Future Trends of the Sports Protective Equipment Market?
[A]: The trend of personalization is expected to become more prominent in the sports protective equipment market. Manufacturers are increasingly focusing on customized products that can offer enhanced comfort, protection, and style. In addition, rising demand for eco-friendly products is expected to be a major trend in the market in the coming years.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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