Valley Cottage, NY -- (SBWire) -- 05/02/2019 --Kids' Sports Equipment and Accessories: General Market Outlook
Gripping a considerable market size in the global sports equipment and accessories industry, the kids' sports equipment and accessories market is growing sustainably since the past few years. The key factors positively influencing the global market include increasing popularity of ball sports among kids, innovation of kids' sports apparel and accessories, and booming acceptance of ecommerce retailing.
However, throughout the forecast period 2016-2026, the market is estimated to thrive at a single digit CAGR, owing to a few strong restraints. While the U.S. will continue to be the largest market, ball sports is expected to be get the largest sales opportunities to the market, over 2016-2026.
The report covers exhaustive analysis on:
Kid's Sports Equipment and Accessories Market Segments
Kid's Sports Equipment and Accessories Market Dynamics
Kid's Sports Equipment and Accessories Market Size, 2012 - 2014
Kid's Sports Equipment and Accessories Market Size & Forecast 2016 to 2026
Supply & Demand Value Chain
Kid's Sports Equipment and Accessories Market Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Kid's Sports Equipment and Accessories Market Drivers and Restraints
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Major Restraints to Market Growth
Tightening Sports Budgets of High Schools
Around 25% of public high schools in the U.S. are on a low sports budget and if the scenario continues, there is a possibility of not organising any sports or athletics tournaments by them, through 2020. The U.S. being the largest market for kids' sports equipment and accessories, it is expected to hold a major descending impact on the market sales.
Expensive prices
According to a research by "USA Families in Sports Lab" conducted in 2014, the average annual family financial investment in youth sports was around 2% of the average family's gross annual income. Some affluent parents also invest over 10% of their gross annual income in their kids' sports equipment and accessories. Growing costs might play a growth restraint for market in the U.S. as well as most of the developing nations.
Popularity of Online/Video Games
Children today are tech-savvy and more inclined toward playing online or video games at a particular age. This tendency is a major restraint if continues.
Kids' Sports Equipment and Accessories Market: Segmentation
FMI's research report on the global kids' sports equipment and accessories market provides a 10-year forecast, segmenting the market based on the type of sport, equipment and accessories, age group, price, distribution channel, and geographical region.
On the basis of the type of sports, the market is segmented as outdoor sports, indoor sports, and fitness sports. Outdoor sports is further sub-segmented into soccer, cricket, baseball, netball, tennis, badminton, and others. Indoor sports are also sub-segmented into table tennis, carom, air hokey, and others.
Based on the fitness equipment and accessories, the market can be segmented into machines, bench, light weight dumbbells, and others.
According to the age group of kids, the sports equipment and accessories market is segmented into two groups, including 6 to 9 years old and 10 to 12 years old. 6 to 9 year old segment has more involvement of parents in buying a product whereas 10 to 12 years old segment has lesser involvement of parents in buying a product. This has led sports equipment and accessories manufacturers to develop such products, which cater to the demand for 6 to 9 year old segment.
By price, the market is segmented into low, medium, and high price segments. Most of the small level unorganised players offer low level pricing of kids' sports equipment and accessories, resulting in increased competitiveness in the global market.
On the basis of distribution channel, the market segmentation includes offline market and online retailing market. The former is further categorised into exclusive stores, sports equipment stores, and others.
The market is geographically segmented into seven key regions, including North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA).
Market Trends Forecast
Cricket bats are high in demand, anticipated to capture a big market by 2026.
The use of an integrated sensor in cricket equipment that can measure the performance of an athlete, is an emerging trend in cricket.
The demand for eco-friendly skateboarding equipment is an ongoing trend, expected to continue over the forecast period.
Youth sports tourism, which was not even a part of the world's sports strategy and planning till the past decade, is currently a growing trend in many national governments. It alone forms a US$ 7 Bn market in the U.S. travel industry.
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Key Players in the Market
Some of the key international players in the global kids' sports equipment and accessories market are Nike Inc., JD Sports Fashion Plc., Adidas A.G., PUMA S.E., and Cabela's Inc.
The demand for skateboarding footwear and apparel market is growing since the past few years. Owing to this popularity, major industry players, including Adidas and Nike have started leading the skateboarding footwear market.
Global Market for Kids Sports Equipment and Accessories to Offer Lucrative Growth Prospects for Manufacturers
Future Market Insights has announced the addition of the “Kids Sports Equipment And Accessories Market: Global Industry Analysis and Opportunity Assessment, 2016-2026" report to their offering