Sports Luggage Market Size, Share & Trends Report

Sports Luggage Market Size, Share & Trends Analysis Report By Product (Golf, Ball Sports, Racket, Hockey, Cricket), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Jan, 2020
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-862-6
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 80

Report Overview

The global sports luggage market size was valued at USD 1.94 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 3.5% from 2019 to 2025. Growing interest and participation in different sports is anticipated to boost consumer expenditure on sporting goods, including sports luggage. This factor is expected to fuel market growth. Rising participation in professional sports is expected to encourage product demand in this market in the forthcoming years.

China sports luggage market size

Rising awareness among parents regarding child obesity as well as active involvement in promoting camaraderie and confidence among kids is expected to increase children’s involvement in sports. Sports participation significantly helps combat the obesity epidemic. The participants are likely to be one-tenth times less obese than non-participants. In the U.S., the participation of children in sports witnessed a significant rise. As per a study conducted by Aspen Institute, 35.0% of males and 39.5% of females in the U.S. are overweight. A high percentage of obesity among children from the age of 5 to 17 years is expected to drive participation in sports. As per the Sports & Fitness Industry Association (SFIA), the percentage of children with no physical activity has been dropping consistently. Such a rise in sports activities in the U.S. and other parts of the world indicates a significant growth opportunity for the market.

Also, growing sports tourism is increasing the popularity of sports along with increasing chances of getting broadcasted in many media channels. This factor is attracting many to opt for sports as a career option. Significant growth in sport tourism as a result of the expansion of sports facilities across the globe, coupled with the increasing number of sports tournaments, is expected to drive the demand for sports in the forthcoming years. As per the annual study done by The National Golf Foundation, golf participation in the U.S. was nearly 36.0%, out of which 24 million golfers are young adults, aged between 18 to 39 years. Over 15 million millennials are interested in taking up the game in the coming years.

Growing disposable income and sports expenditure are likely to propel the demand for sports luggage over the forecast period. Demand for lightweight bags that can carry several sports equipment is one of the major factors impacting consumers purchasing decisions. Whereas, the easy availability of counterfeit products is likely to create obstacles for market growth. Counterfeit products are priced at a much lower cost compared to the branded product's price, which is expected to impact the sales of the key players operating in the market.

Product Insights

By product, the sports luggage market is divided into golf, ball sports, racket, hockey, cricket, and other types of sports luggage. Ball sports accounted for the largest market share in 2018 and is estimated to be the fastest-growing segment over the forecasted period. The growing popularity of ball sports such as football, basketball, and volleyball is projected to boost the segment growth. As per the Australian Sports Commission, children from age group 12 to 14 years had the highest participation in ball sports - 27.4% in football, 22.1% in Australian football, 18.0% in Basketball, 17.4% in Cricket, and 11.5% in Tennis. This factor is anticipated to drive product demand in the near future.

Golf luggage held the second largest market share in 2018 and is estimated to register a CAGR of 3.3% over the forecasted period. Despite a smaller number of golf players compared to other sports, the segment is expected to witness significant growth, due to the higher price of luggage and the presence of branded products. Also, the increasing interest of consumers in golf as a leisure activity is supporting growth. In 2018, approximately 4.2 million baby boomers played golf, witnessing an increase from 3.6 million in 2017.

Distribution Channel Insights

On the basis of the distribution channel, the market has been segmented into offline and online. Offline is the largest segment and is expected to continue leading over the forecasted period. Sports good manufacturers are increasing the number of retail outlets as a part of the market expansion strategy. Retailers also offer product discounts on taking club memberships, which further influences the purchasing decision of consumers.

Global sports luggage market share

The online segment is anticipated to register the fastest CAGR of 4.6% over the forecast period. The growing e-commerce platforms and preference for online shopping have paved the way for consumers to have access to a wide range of product offerings. Many manufacturers are increasing their focus on e-tailing to generate more traction by implementing the direct-to-consumer process. For instance, Acushnet Holdings Corp, involved in the distribution of golf products, launched direct-to-consumer sales of golf gears via My Titleist online golf shop. With the help of this strategy, the company planned to expand its custom and special edition product offerings. As per the Federal Association of e-commerce and mail order (bevh), around 70% of the German sports goods retailers operating in e-tailing use several online channels to promote and sell their products. The online strategy has positively impacted the market growth.

Regional Insights

Asia Pacific was estimated to be the largest and fastest-growing regional segment in 2018 and is expected to continue leading over the forecast period, attributed to the rising participation in sports and increasing disposable income of the middle-class population. A rise in sports tournaments and an increasing number of participants in the region are other significant regional growth drivers. The strong performance of Asian players in Rio 2016 is likely to have a significant impact on various governments in the region to embrace sports and create a suitable environment to make sports popular. This is creating opportunities for manufacturers in the region to have a strong foothold on the market by providing better services and products as per consumer demand.

North America held the second-largest market share for sports luggage in 2018 and is estimated to maintain the position over the forecasted period. The growth is majorly supported by an increasing number of younger participants in sports. Central and South America region is also estimated to witness significant growth over the forecasted period.

Key Companies & Market Share Insights

The companies focus on sponsorships and partnerships with elite sports teams to gain a greater foothold and increase brand awareness among consumers. For instance, in 2019, Nike extended their technical partnership with Brighton and Hove Albion for three more years to supply playing and training kit for the men’s and women’s teams of the Premier League club.

In July 2018, Puma signed Europe’s three most prestigious teams, namely, A.C. Milan from Italy, Olympique de Marseille from France, and Borussia Mönchengladbach from Germany, to provide new kits from Puma Football Club.  In January 2016, Dwayne Johnson entered into a partnership with Under Armour and launched their first product with two limited-edition bags from Project Rock. These bags are unisex and resistant to water and abrasion.

Key players are also increasing their reach by implementing direct-to-consumer sales as a part of the expansion strategy. For instance, in 2018, Acushnet Holdings Corp launched an e-commerce website for FootJoy's luxury brand, FJ1857.com in U.K. and Japan, and launched eCommerce websites for Titleist golf gear. Some of the prominent players in the sports luggage market include:

  • Adidas AG

  • Amer Sports

  • Nike, Inc.

  • PUMA SE

  • Under Armour, Inc.

  • VF Corporation

  • Yonex Co., Ltd

  • Acushnet Holdings Corp

  • Bridgestone Corporation

  • Callaway Golf Company

Sports Luggage Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 2.07 billion

Revenue forecast in 2025

USD 2.47 billion

Growth Rate

CAGR of 3.5% from 2019 to 2025

Base year for estimation

2018

Historical data

2015 - 2017

Forecast period

2019 - 2025

Quantitative units

Revenue in USD million and CAGR from 2019 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; U.K.; Germany; Japan; China; Brazil; Saudi Arabia

Key companies profiled

Adidas AG; Amer Sports; Nike, Inc.; PUMA SE; Under Armour, Inc.; VF Corporation; Yonex Co., Ltd; Acushnet Holdings Corp; Bridgestone Corporation; Callaway Golf Company

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the sports luggage market report on the basis of product, distribution channel, and region:

  • Product Outlook (Revenue, USD Million, 2015 - 2025)

    • Golf

    • Ball Sports

    • Racket Sports

    • Hockey

    • Cricket

    • Others

  • Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

    • Online

    • Offline

  • Regional Outlook (Revenue, USD Million, 2015 - 2025)

    • North America

      • The U.S.

    • Europe

      • The U.K.

      • Germany

    • Asia Pacific

      • China

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

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