Sports Luggage Market: Overview
As per a report published by the WHO in 2016, approximately 340 million children and adolescents in the age group 5 to 19 years were either overweight or obese. The rate of obesity has multiplied three times since 1975. And, the statistics is true on global level.
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Obesity and overweight are inviting factors to many health issues and diseases. Thus, to avoid this, for prevention, people are involving into some or other kind of physical activities.
In addition, parents are becoming concerned about health of their children and are motivating them to participate in sports activities. As per report published by Sports & Fitness Industry Association (SFIA), percentage of children with no physical activity is declining substantially in recent years.
Adoption of sports activities is one of the key factors contributing majorly to global sports luggage market.
The upcoming report on sports luggage market is a comprehensive analysis of the market. It provides insights about different factors contributing to the growth of global sports luggage market. The report also discusses regional segments and its role in penetrating the global sports luggage market over the course of forecast period (2019 and 2029).
Sports Luggage Market: Notable Development
Lately, the news of NBA teaming up with Louis Vuitton has flooded in the sports luggage market. As per the report, the luxury brand will be producing travel case for winning team of Larry O’Brien Trophy. Besides, a collection of accessories and clothes will also be gifted to the league, annually.
The collaboration will profit both the organizations mutually. For Louis Vuitton specifically, it is likely to attract new set of customers belonging to sports background. The brand will also be able to enhance its diversity by including sports culture in the product line.
Some of the key manufacturing companies in sports luggage Market are-
- Callaway Golf Company
- Under Armour
- Amer Sports
- Bridgestone Corporation
- Adidas AG
- Acushnet Holdings Corp
- VF Corporation
- Yonex Co.
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Sports Luggage Market: Key Trends
Active participation in sports by individuals of age groups is one significant trend anticipated to drive sports luggage market. Besides, sports tourism is helping to garner further revenue for sports luggage market. Demand for lightweight bags that can carry several sports equipment is increasing.
In addition, rising disposable income in various developing economies is one of the key factors facilitating adoption of sports as an activity. This factor is influencing sports luggage market substantially.
Introduction of various sports channel is helping in spreading awareness about sports. At the same time, it is boosting the adoption rate of sports activities, as it provides the chance of getting broadcasted. As a result, people are opting sports as a career options on a large scale.
On the other hand, easy availability of counterfeit products is affecting global sports luggage market. The counterfeit products are available at comparatively lower price. As a consequence, sale of branded products will be affected on large scale.
Sports Luggage Market: Regional Analysis
Registering the participation rate in sports and increasing sports tournament in Asia Pacific, the region is anticipated to be a leading contributor to the growth of sports luggage market. Rising disposable income of the population in the region is also acting as a fuelling factor. Demand for better sports luggage from consumers is presenting opportunities for manufacturers to strengthen their foothold in the regional market.
Government bodies are introducing regulatory norms to create suitable environment for sports. This is likely to create growth opportunities for sports luggage market in the duration of forecast period.
North America is likely to follow Asia Pacific. Growth in the market is attributed to increasing number of young participants in sports. South and Central America is anticipated to witness substantial growth in the course of forecast period.
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