Indian Sports and Fitness Goods Market to Grow at a CAGR of 8.9% During 2024-2032, Aided by Rising Health Consciousness Among Consumers

Consumers' increasing awareness of the importance of weight management and overall muscle health is aiding the Indian sports and fitness goods market growth. Cardiovascular training equipment and strength training products have helped fuel this expansion by empowering Indians to incorporate regular exercise into their daily routines. Jogging machines, elliptical trainers, exercise bikes and other cardio devices have enabled users to add low-impact aerobic activity and calorie-burning to their workouts.

The health club and gym segment comprise the largest portion of the market in India. As health and wellness become increasingly important to Indian consumers, more individuals are joining fitness facilities and centres. The growing focus on preventative healthcare has contributed to rising membership at gyms across the country.

Moreover, exercise machines, including treadmills, elliptical trainers, stationary bikes, rowing machines, and strength training equipment are in steady demand. Gyms and health clubs seek to offer members the latest technologies and tools to support diverse workout regimens and fitness goals.

In January 2023, Yonex Co. Ltd. (TYO: 7906), a leading manufacturer of sporting equipment, announced its plans to expand its manufacturing presence in India. The Japanese company was slated to begin selling carbon graphite racquets manufactured in India, with the goal of offering these products at more affordable price points to consumers. Yonex is a globally recognised brand known for producing high-quality carbon graphite sporting goods, including badminton and tennis racquets as well as golf clubs. By establishing local manufacturing operations in India, Yonex aims to leverage the country's skilled workforce and lower costs to strengthen its competitive position in key global markets.

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Market Breakup by Product Type, Fitness Goods, Cardiovascular Training Goods, End Use, and Region:

• On the basis of the product type, the market is divided into balls, fitness goods, adventure sports, and golf goods, among others.

• The market can be segmented based on fitness goods into cardiovascular training goods and strength training goods.

• On the basis of cardiovascular training goods, the market is classified into treadmills, stationary bikes, rowing machines, and ellipticals, among others.

• The market can be segmented based on end use into health clubs/gyms, home consumers, hotels and corporate offices, and hospitals, medical centres, and public institutions, among others.

• By region, the market can be divided into North India, South India, East India, and West and Central India.

Key Findings of the Report:

• There has been an increased focus on wellness and preventative healthcare among Indian citizens. Chronic conditions, including obesity, cardiovascular issues, diabetes and other lifestyle-related illnesses, have been on the rise. As individuals look to take a more proactive approach to their physical and mental health, the fitness industry has experienced substantial growth.

• More gyms and exercise facilities have opened to meet consumer demand for tools and resources supporting healthy living. This has corresponded with higher sales of sports and fitness products within the country. As health becomes a larger priority, the number of those exercising regularly and investing in their well-being is likely to continue expanding in the forecast period.

• One of the major factors driving the market growth is the introduction of favourable initiatives by the Indian government to promote health and wellness.

• Social media is proving to be another catalyst propelling the Indian sports and fitness goods market expansion. Through widely-used social networking platforms such as Facebook, Instagram, and Twitter, manufacturers of sports and exercise equipment are communicating directly with consumers. On these channels, companies advertise and promote their offerings by informing potential customers about product specifications, features, and functionality.

Key Offerings of the Report:

• The EMR report gives an overview of the Indian sports and fitness goods market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product types, fitness goods, cardiovascular training goods, end uses, and major regions of sports and fitness goods in India.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Indian sports and fitness goods market are Cosco (India) Limited, Bhalla International – Vinex, Nivia Sports Private Limited, and Sanspareils Greenlands Private Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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