D. Tighe
Research expert covering consumer behavior, sporting goods retail, and the global toy industry.
As is the case for many industries, the United States plays a leading role in the sports apparel, footwear, and equipment market, as it generates several billion dollars every single month. Sporting goods store sales in the United States alone amounted to roughly 64.5 billion U.S. dollars in the year 2022. “Sporting goods” encompass many different kinds of products, including, but not limited to athletic footwear, exercise equipment, licensed sports merchandise, and athletic apparel.
When it comes to retail stores, there are several large U.S. sports apparel and footwear retailers to consider, including Big 5 Sporting Goods, Hibbett Sports, Dick's, and Bass Pro. During its latest financial year, the Alabama-based Hibbett Sports generated net sales of just over 1.7 billion U.S. dollars, the bulk of which was earned through footwear sales.
Leading manufacturers and retailers
It comes to no surprise that Nike, the American sports apparel and footwear manufacturer, is the most valuable sports business brand in the world. Just within its previous fiscal year, the Nike brand generated over 50 billion U.S. dollars, making it the leading athletic apparel, accessories, and footwear company in the world, based on sales. This was more than double the value generated by Adidas, which ranked second. Moreover, the vast majority of consumers in the United States are aware of Nike's existence, with more than 60 percent of surveyed online shoppers saying they also liked the brand.When it comes to retail stores, there are several large U.S. sports apparel and footwear retailers to consider, including Big 5 Sporting Goods, Hibbett Sports, Dick's, and Bass Pro. During its latest financial year, the Alabama-based Hibbett Sports generated net sales of just over 1.7 billion U.S. dollars, the bulk of which was earned through footwear sales.
The future of the sporting goods market
As stated previously, the sporting goods market is a major industry across the globe and it is one that is set to keep growing over the coming years. By 2030, for instance, the global sports apparel market is expected to exceed 290 billion U.S. dollars in annual revenue. Similarly, sporting goods revenue in the U.S. is projected to grow in the coming years: after the trying year that was 2020 (due to the coronavirus pandemic) and the impact of the Russia-Ukraine war in 2022 annual U.S. sports and swimwear market revenue is forecast to reach about 90 billion U.S. dollars by 2028.
