Sports Luggage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2029
As per a report published by the WHO in 2016, approximately 340 million children and adolescents in the age group 5 to 19 years were either overweight or obese. The rate of obesity has multiplied three times since 1975. And, the statistics is true on global level.
Obesity and overweight are inviting factors to many health issues and diseases. Thus, to avoid this, for prevention, people are involving into some or other kind of physical activities.
In addition, parents are becoming concerned about health of their children and are motivating them to participate in sports activities. As per report published by Sports & Fitness Industry Association (SFIA), percentage of children with no physical activity is declining substantially in recent years.
Adoption of sports activities is one of the key factors contributing majorly to global sports luggage market.
The upcoming report on sports luggage market is a comprehensive analysis of the market. It provides insights about different factors contributing to the growth of global sports luggage market. The report also discusses regional segments and its role in penetrating the global sports luggage market over the course of forecast period (2019 and 2029).
Lately, the news of NBA teaming up with Louis Vuitton has flooded in the sports luggage market. As per the report, the luxury brand will be producing travel case for winning team of Larry O’Brien Trophy. Besides, a collection of accessories and clothes will also be gifted to the league, annually.
The collaboration will profit both the organizations mutually. For Louis Vuitton specifically, it is likely to attract new set of customers belonging to sports background. The brand will also be able to enhance its diversity by including sports culture in the product line.
Some of the key manufacturing companies in sports luggage Market are-
Sports Luggage Market: Key Trends
Active participation in sports by individuals of age groups is one significant trend anticipated to drive sports luggage market. Besides, sports tourism is helping to garner further revenue for sports luggage market. Demand for lightweight bags that can carry several sports equipment is increasing.
In addition, rising disposable income in various developing economies is one of the key factors facilitating adoption of sports as an activity. This factor is influencing sports luggage market substantially.
Introduction of various sports channel is helping in spreading awareness about sports. At the same time, it is boosting the adoption rate of sports activities, as it provides the chance of getting broadcasted. As a result, people are opting sports as a career options on a large scale.
On the other hand, easy availability of counterfeit products is affecting global sports luggage market. The counterfeit products are available at comparatively lower price. As a consequence, sale of branded products will be affected on large scale.
Registering the participation rate in sports and increasing sports tournament in Asia Pacific, the region is anticipated to be a leading contributor to the growth of sports luggage market. Rising disposable income of the population in the region is also acting as a fuelling factor. Demand for better sports luggage from consumers is presenting opportunities for manufacturers to strengthen their foothold in the regional market.
Government bodies are introducing regulatory norms to create suitable environment for sports. This is likely to create growth opportunities for sports luggage market in the duration of forecast period.
North America is likely to follow Asia Pacific. Growth in the market is attributed to increasing number of young participants in sports. South and Central America is anticipated to witness substantial growth in the course of forecast period.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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