Companies such as Nike, Inc (US) and Adidas AG (Germany) are the Leading Players in the Sports Protective Gear Market
The global sports protective gear market was valued at USD 5.0 billion in 2021 and is projected to reach USD 7.1 billion in 2027, at a CAGR of 6.0% from 2022 to 2027. The global market for sports protective gear is driven by basic factors such as growth in consumer awareness regarding health and fitness, prominence of national and international sporting events and increase in participation of women in sports events. Over the last couple of years, distribution of sporting goods has shifted from traditional channels to e-commerce platform and online applications.
Companies such as Nike, Inc (US), Adidas AG (Germany), PUMA SE (Germany), Under Armour, Inc (US), ASICS Corporation (Japan), Mizuno Corporation (Japan), Vista Outdoor (US), fall under the winners’ category. These are leading players in the sports protective gear market, globally. These players have adopted the strategies of expansions, agreements, contracts, partnerships, acquisitions, and collaborations, to fulfill the rising demand for sports protective gears on the regional as well as global levels.
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In February,2022, Adidas AG announced that it has formally completed the divestiture of Reebok to Authentic Brands Group (ABG) for a total consideration of up to USD 2.31 billion.
In September, 2021, Vista Outdoor has announced the acquisition of Foresight Sports. This acquisition is consider to increase the outdoor product portfolio of Vista Outdoor.
In January, 2020, Xenith has launched its first helmet with RHEON technology named as Shadow XR. The technology is consider to provide soft cushioning for frequent lower-speed impacts, and strengthen protection against high-speed impacts.
In December, 2018, Nike, Inc. has launched communitive shin pads, which have vibration motor. The vibration motor sends instructions through the vibrations; for example, the vibrations of different intensities, and in different locations in the shin pad may be related to an instruction of movement in a forward, backward, rightward, or leftward direction.
Related Reports:
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
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