According to a series of new studies, South Africa’s sports goods industry is likely to face little to no growth over the next 5 years, missing out on the growth expected globally. The research was conducted across 48 countries by Acentric’s market-data partner, Global Research & Data Services (GR&DS) and covers the period 2015 to 2019.
“SA currently ranks 18th in terms of market size, out of the 48 countries measured. However SA’s future growth potential is expected to be close to 0% based on GR&DS analysis.” Says Craig Kolb, MD of Acentric, the Africa office of GR&DS.
Globally the sports good industry is forecast to reach 3.3% p.a.between 2005 and 2019. Between 2008 and 2014 the market increased with an average annual growth of 3.3%. Currently, gymnasium, athletics and physical exercise equipment accounts for 26.7% of the global demand while the remaining market share is divided between golf equipment (16.8%), fishing and hunting requisites and equipment (10.7%), ski equipment (5.7%), balls (5.3%), watersport equipment (5.1%), ice skates and roller skates (2.2%), sports gloves, mitts and mittens (2.0%), tennis equipment (1.8%), table tennis goods (1.0%), badminton and other rackets (0.9%) and other sports goods (22.0%).
Canada, China, Japan, the United Kingdom and the United States represent the largest sports good markets while the strongest annual growth is forecast to occur in Morocco (17.7%), Malaysia (7.6%), Ecuador (7.1%), Sri Lanka (6.3%) and the United States (5.7%).
Figure 1: Sports good market size compared to market growth in different countries
Based on in-house analysis and an advanced model which takes into consideration the actual market size, trends, forecast market growth, and changes in the market environment, the markets expected to have the largest potential are the USA, China, Morocco and Japan.
More detailed information is available in a range of sporting goods related reports available from the Acentric Global report store.