About the Sports Industry in India
The Indian sports and fitness goods market is growing at 8.9%
and thus will cross 6 billion USD mark by 2026
The major drivers of the Indian industry are
Rising disposable incomes
Increasing population – especially younger population
Growing health awareness
The rising popularity of different sports
Increasing prevalence of lifestyle disorders and increased product demand from the younger population are also fuelling market growth.
The key market trend guiding the growth of the sports and fitness goods market includes
Advancements in manufacturing technologies to develop products like smart tennis racquets and others.
Increase in the number of gyms and fitness centers
Growing influence of social media on potential customers
Lack of awareness about quality equipment, need for customer education and poor consumer preference are some of the major challenges faced by the sports goods industry amongst others.