13 September 2023, Mumbai
India's market for sports equipment, footwear, and apparel is expected to grow from around $27.89 billion in 2022 to $40.64 billion in 2027, with a strong Compound Annual Growth Rate (CAGR) of 7.82 percent.
There are several factors behind this impressive growth trend.
Increased awareness of sports and fitness
Many urban residents who used to be couch potatoes have started to adopt healthier lifestyles.
The rise of organized community activities and sporting events across the country has boosted the demand for sports and fitness products.
Easy availability of online retail platforms
Indian consumers have been exposed to stylish athleisure wear and accessories that offer both fashion and comfort.
Preference for athleisure wear over traditional clothing
Indians have started to mix athleisure wear with formal clothing, especially when it comes to footwear.
Conclusion
The sports equipment, footwear, and apparel market in India is expected to continue to grow in the coming years.
Increased awareness of sports and fitness
The increased awareness of sports and fitness among Indians is one of the key factors driving the growth of the sports equipment, footwear, and apparel market.
This is due to a number of factors, including the growing popularity of fitness activities such as yoga, running, and cycling, as well as the increasing number of organized sporting events in the country.
Easy availability of online retail platforms
The easy availability of online retail platforms has also made it easier for Indian consumers to access a wide range of sports equipment, footwear, and apparel. This has led to increased competition among retailers, which has helped to drive down prices and improve the quality of products.
Preference for athleisure wear over traditional clothing
In recent years, there has been a growing preference for athleisure wear among Indians.
This is due to the fact that athleisure wear is both stylish and comfortable, making it suitable for both casual and formal wear.
This trend is expected to continue in the coming years, as more and more Indians adopt a healthier lifestyle.
