Winter Sporting Goods Market Overview, Share, And Restraints By 2028

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Oct 25

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

U.S. winter sporting goods market size, by distribution channel, 2018 - 2028 (USD Million)

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.

Browse through Grand View Research's Clothing, Footwear & Accessories Industry Research Reports.

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Key Companies profiled:

Some prominent players in the global winter sporting goods market include