As per the latest report by IMARC Group, titled “Indian Sports and Fitness Goods Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Indian sports and fitness goods market size reached US$ 3,621 Million in 2018. Participating in sports benefits the human body by improving its flexibility, muscle strength, and cardiovascular health. Since sports form an essential part of health and wellness, schools and colleges across India are encouraging students to adopt a healthy lifestyle by participating in various extracurricular activities and outdoor sports. In addition to this, the penetration of unconventional fitness activities like Zumba, aerobics, trekking, ice skating and kickboxing has further led a large section of the society, especially the young population, to incorporate these activities in their daily lives. Moreover, an increase in the number of gyms and fitness centers has also been witnessed, which has boosted the sales of sports and fitness goods across the country.
Indian Sports and Fitness Goods Market Trends:
Long working hours with minimal physical movement have increased the prevalence of diseases such as obesity, cardiovascular disorders and diabetes in India. Rising awareness among the masses regarding the risks posed by these lifestyle diseases and the benefits of a fitness routine has led them to actively participate in different sports as well as join gyms and health clubs. Apart from this, improving purchasing power of urban consumers have encouraged them to invest in their wellbeing. As a result, home gym stations are continually gaining popularity as they allow users to work out in the comfort of their own homes. Furthermore, rising public and private investments for infrastructure development is another major factor strengthening the growth of the market. For instance, housing societies are now providing free access to facilities like gyms, swimming pools, and courts to their residents, which is expected to impel the demand for sports and fitness goods. On account of these factors, the market value is anticipated to reach US$ 6,054 Million by 2024, growing at a CAGR of 9.0% during 2019-2024.
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- On the basis of the product type, the market has been categorized into balls, adventure sports, fitness goods, golf goods and other goods. At present, balls represent the most popular segment.
- Based on the fitness goods, cardiovascular training goods exhibit a clear dominance in the market, followed by strength training goods. Cardiovascular training goods are further categorized as treadmills, stationary bikes, rowing machines, ellipticals and others. Among these, treadmills account for the largest market share.
- Based on the end use, health clubs and gyms account for the majority of the total market share. Other major segments include home consumers; hotels and corporate offices; hospitals, medical centers and public institutions; and others.
- On the geographical front, the market has been segregated into North India, West and Central India, South India and East India. Currently, West and Central India hold the leading position in the market.
- The competitive landscape of the market has also been examined with the detailed profiles of the key players, which include Cosco (India) Limited, Nivia Sports Private Limited, Bhalla International, Sareen Sports Industries and Sansparelis Greenland Private Limited.
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