Sporting Goods Industry - Statistics & Facts

Nike and other sports apparel retailers

It comes to no surprise that Nike, the American sports apparel manufacturer, is the most valuable sports business brand in the world. Just within its previous fiscal year, the Nike brand generated over 37 billion U.S. dollars, making it the leading athletic apparel, accessories, and footwear company in the world, based on sales. This was nearly double the value generated by ESPN, which ranked second. Furthermore, Nike was the leading sports apparel brand choice among U.S. consumers of all genders.

While Nike stands at the top of the hill, there are many other U.S. sports apparel and footwear retailers to consider, including but not limited to Big 5 Sporting Goods, Reebok, Under Armour, and Hibbett Sports. During its latest financial year, the Alabama-based Hibbett Sports generated net sales of close to one and a half billion U.S. dollars, the bulk of which was earned through footwear sales specifically.

Sporting goods market forecasts

As stated previously, the sporting goods market is a major industry across the globe, as well as in the United States, and it is one that is set to keep growing over the coming years. By 2024, for instance, the global sports apparel market is expected generate over 200 billion U.S. dollars’ worth of annual revenue. Similarly, sporting goods revenue is projected to grow significantly in the United States: after the trying year that was 2020 (due to the coronavirus pandemic) annual U.S. sports and swimwear market revenue is forecast to increase by approximately 40 billion U.S. dollars by 2025.

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