According to a new market research report by MarketsandMarkets, the sports protective gear market has grown considerably in 2021. It is projected to grow from US$5.3 billion in 2022 to US$7.1 billion by 2027, at a compound annual growth rate (CAGR) of 6.0 percent. The 212-page report is titled “Sports Protective Gear Market by Type (Helmets, Shin Guards, Knee Pads), Sports Type (Soccer, Skating, Cycling), Area of Protection, Distribution Channel (Exclusive Stores, Multi-retail Stores, E-commerce Portals), and Region - Global Forecast to 2027.” Growth during the forecast period will be driven by factors such as the increasing consumer awareness regarding health and fitness, boosted during the past two years by the Covid-19 pandemic, and the increase in the number of international and national sports events.
By geography, the Asia-Pacific was the largest market for sports protective gears in terms of value and volume in 2021, with China accounting for the largest share in the region, followed by India. North America is estimated to be the fastest-growing region during the 2022-2027 period, with growing demand primarily driven by the economies of the U.S. and Canada, suggests the report.
By type, helmets are expected to be the fastest-growing segment, with growth attributed to the increasing demand from professionals engaged in sports such as skiing, cycling, skating, and others. The soccer segment is projected to record the highest growth in the sports protective gear market during the forecast period by type of sport. Finally, by area of protection, the head & face segment is expected to grow with the highest CAGR in the sports protective gear market during the 2022-2027 period.
