India Sports Equipment Market 2024–2033

Reports Description

As per the current market research conducted by the CMI Team, the India Sports Equipment Market is expected to record a CAGR of 7.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 30,150.1 Million. By 2033, the valuation is anticipated to reach USD 56,369.2 Million.

The Indian sports equipment market is a dynamic industry characterized by a diverse range of products catering to various sports and fitness activities. With a burgeoning population increasingly inclined towards sports and fitness, the market witnesses robust growth driven by factors such as rising disposable incomes, urbanization, and government initiatives promoting sports participation.

Key players, both domestic and international, compete in offering innovative products, leveraging advancements in materials and technologies. The market is further fueled by the expansion of e-commerce platforms, making sports equipment more accessible to consumers across the country.

India Sports Equipment Market – Significant Growth Factors

The India Sports Equipment Market presents significant growth opportunities due to several factors:

• Rising Health Consciousness: Increasing awareness about the importance of health and fitness is driving demand for sports equipment as more Indians prioritize physical activity and sports participation to maintain a healthy lifestyle.

• Government Initiatives: Government initiatives such as the Fit India Movement and Khelo India program are promoting sports and fitness activities, stimulating demand for sports equipment and accessories across the country.

• Growing Disposable Income: With rising disposable incomes, consumers have greater purchasing power to invest in sports equipment, leading to increased spending on sporting goods and accessories.

• Expansion of Sports Infrastructure: The development of sports infrastructure, including stadiums, gyms, and fitness centers, is increasing accessibility to sports facilities, thereby driving demand for sports equipment among enthusiasts and athletes.

• E-commerce Expansion: The proliferation of e-commerce platforms presents opportunities for market expansion, allowing consumers from Tier 2 and Tier 3 cities to access a wide range of sports equipment and accessories conveniently.

• Innovation and Product Development: There is ample opportunity for innovation and product development in the sports equipment market, with scope for introducing technologically advanced products, eco-friendly materials, and customized solutions to meet the diverse needs of consumers.

• Emerging Sports Trends: The emergence of new sports and fitness trends, such as adventure sports, extreme fitness regimes, and niche sports leagues, presents opportunities for the sports equipment market to diversify its product offerings and cater to evolving consumer preferences, thereby expanding market reach and driving growth.

India Sports Equipment Market – Mergers and Acquisitions

The India Sports Equipment Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the India Sports Equipment Market include:

• In 2022, DICK’S Sporting Goods unveiled VRST, a new men’s athletic apparel brand tailored for the contemporary, active lifestyle. VRST caters to the on-the-go modern man, offering stylish and functional sportswear designed to enhance performance and comfort during daily activities.

• In 2022, JD Sports Group acquired an 80% stake in Deporvillage, an online retailer specializing in outdoor sporting equipment. Founders Xavier Pladellorens and Ángel Corcuera will retain a 0% stake. This acquisition expands JD Sports’ online presence and strengthens its position in the outdoor sports equipment market.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the India Sports Equipment Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

India Sports Equipment Market – Significant Threats

The India Sports Equipment Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Counterfeit Products: The proliferation of counterfeit sports equipment poses a significant threat to the Indian market, undermining the reputation of genuine brands and eroding consumer trust, while also impacting sales and revenue for legitimate manufacturers.

• Price Sensitivity: Indian consumers are often price-sensitive, seeking affordable alternatives to branded sports equipment. This poses a threat to premium brands, which may struggle to compete in a market where lower-priced alternatives are readily available.

• Competition from Unorganized Sector: The presence of a large unorganized sector in the Indian sports equipment market, comprising small-scale manufacturers and local vendors, intensifies competition and exerts downward pressure on prices, impacting profitability for organized players.

• Distribution Challenges: Inefficient distribution networks, particularly in rural and semi-urban areas, pose challenges for reaching a wider consumer base, limiting market penetration and growth potential for sports equipment manufacturers.

• Regulatory Compliance: Compliance with regulatory standards, including safety and quality certifications, can be challenging for manufacturers, especially smaller players. Non-compliance with regulations may result in legal repercussions, reputational damage, and loss of market share.

Category-Wise Insights:

By Product Type

• Balls: Balls are spherical objects used in various sports such as cricket, football, and basketball. In India, the demand for balls is driven by the popularity of cricket and football, with trends including the introduction of high-quality synthetic materials for improved durability and performance.

• Rackets: Rackets are used in sports like tennis, badminton, and squash. In India, the market for rackets is growing steadily, with trends favoring lightweight designs and advanced materials to enhance player performance and minimize fatigue.

• Clubs: Clubs are essential equipment in sports like golf. In India, the market for golf clubs is driven by the increasing popularity of golf among urban elites and corporate professionals. Trends include the adoption of innovative club designs and materials to improve accuracy and distance.

• Protective Gear: Protective gear includes helmets, pads, and guards worn by athletes to prevent injuries during sports activities. In India, the demand for protective gear is rising due to growing awareness about safety in sports, with trends focusing on lightweight and breathable designs for enhanced comfort and mobility.

• Athletic Footwear: Athletic footwear is crucial for performance and injury prevention in sports and fitness activities. In India, the market for athletic footwear is expanding rapidly, driven by the rise of fitness trends and increased participation in sports. Trends include the use of advanced cushioning technologies and sustainable materials to cater to eco-conscious consumers.

• Fitness Equipment: Fitness equipment encompasses a wide range of products such as treadmills, dumbbells, and resistance bands used for exercise and strength training. In India, the demand for fitness equipment is growing steadily, fueled by rising health consciousness and the popularity of home workouts. Trends include the development of smart, connected devices and compact, space-saving designs for urban dwellers.

• Others: This category includes sports apparel, accessories, and miscellaneous equipment such as goalposts, nets, and scoring boards. In India, the market for sports accessories is diverse, with trends reflecting fashion preferences and technological innovations in materials and designs to enhance performance and style.

By Sports Type

• Team Sports: Team sports equipment includes items like balls, jerseys, and protective gear used in sports like cricket, football, and basketball. In India, the demand for cricket equipment dominates this segment, with a trend towards lightweight and high-performance gear.

• Individual Sports: Individual sports equipment encompasses gear for sports such as tennis, badminton, and athletics. In India, there’s a growing demand for quality racquets, footwear, and apparel, driven by increased participation in these sports.

• Fitness and Training: Fitness and training equipment includes gym machines, weights, and accessories used for workouts and fitness regimes. In India, there’s a rising trend towards home fitness equipment, fueled by health consciousness and the popularity of home gyms.

• Outdoor Sports: Outdoor sports equipment covers gear for activities like hiking, camping, and trekking. In India, there’s a demand for durable and weather-resistant equipment, reflecting the country’s diverse terrain and growing interest in adventure sports.

• Water Sports: Water sports equipment includes gear for activities like swimming, surfing, and kayaking. In India, coastal regions and water bodies drive demand for swimming gear, while emerging interest in adventure sports fuels demand for surfing and kayaking equipment.

• Winter Sports: Winter sports equipment encompasses gear for activities like skiing, snowboarding, and ice skating. In India, the market for winter sports equipment is niche but growing, driven by increasing participation in snow sports in regions like Himachal Pradesh and Jammu & Kashmir.

• Others: The “Others” category includes niche sports equipment not covered in the above segments. This may include equipment for sports like golf, martial arts, and equestrian sports. In India, there’s a niche market for specialized equipment catering to enthusiasts of these sports.

By End User

• Professional: Professional athletes and sports organizations demand high-performance, specialized sports equipment tailored to their specific requirements, driving innovation and customization in the market.

• Amateur/Recreational: This segment comprises individuals engaging in sports and fitness activities for leisure and personal well-being, fueling demand for a wide range of affordable and user-friendly sports equipment and accessories.

• Institutional: Institutions such as schools, colleges, and sports clubs require durable, cost-effective sports equipment for organized sports programs and training activities, driving bulk purchases and long-term partnerships with suppliers.

• Individual Consumers: Individual consumers seek sports equipment that aligns with their personal preferences and fitness goals, driving demand for a diverse range of products catering to various sports and activities, including athletic footwear, apparel, and accessories, often influenced by brand reputation and affordability.

By Distribution Channel

• Offline: Offline distribution channels for sports equipment in India include specialty sports stores, department stores, and hypermarkets. While these channels offer a hands-on shopping experience, they face challenges such as limited reach in rural areas. Trends include the expansion of retail chains into Tier 2 and Tier 3 cities, experiential retail concepts, and partnerships with sports academies to drive footfall and enhance customer engagement.

• Online: Online distribution channels for sports equipment in India encompass e-commerce platforms, brand websites, and online marketplaces. These channels offer convenience, wide product variety, and access to exclusive deals. Trends include the growth of mobile shopping, the adoption of augmented reality for virtual try-ons, and the emergence of niche e-commerce platforms catering specifically to sports and fitness enthusiasts.

Report Scope

Competitive Landscape – India Sports Equipment Market

The India Sports Equipment Market is highly competitive, with a large number of manufacturers and retailers operating in the US. Some of the key players in the market include:

• Decathlon Sports India Pvt. Ltd.
• Adidas India Marketing Pvt. Ltd.
• Nike India Pvt. Ltd.
• Puma Sports India Pvt. Ltd.
• ASICS India Pvt. Ltd.
• Reebok India Company
• Yonex Sunrise India Pvt. Ltd.
• MRF Ltd. (MRF Sports Goods Division)
• SG Cricket (Sanspareils Greenlands Pvt. Ltd.)
• SS Industries (Sareen Sports Industries)
• Cosco India Ltd.
• Nivia Sports
• Head India Sports Pvt. Ltd.
• Wilson Sporting Goods Company India Pvt. Ltd.
• Li-Ning India Sports Goods Pvt. Ltd.
• Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New entrants in the Indian sports equipment market, such as Fitkit, have adopted innovation by introducing technologically advanced products catering to evolving consumer preferences. Fitkit, for instance, offers smart fitness gadgets and equipment integrated with digital platforms for personalized workouts.

Dominant players like Decathlon and Adidas dominate the market due to their extensive product portfolios, widespread retail presence, and strong brand recognition. These key players leverage their global supply chains, strategic partnerships with sports leagues, and aggressive marketing campaigns to maintain market dominance and capture a significant share of consumer demand.

The India Sports Equipment Market is segmented as follows:

By Product Type

• Balls
• Rackets
• Clubs
• Protective Gear
• Athletic Footwear
• Fitness Equipment
• Others

By Sport Type

• Team Sports
• Individual Sports
• Fitness and Training
• Outdoor Sports
• Water Sports
• Winter Sports
• Others

By End User

• Professional
• Amateur/Recreational
• Institutional
• Individual Consumers

By Distribution Channel

• Offline
• Online