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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Market Summary:
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