The Business Research Company's Sporting Goods, Hobby, Musical Instrument, and Book Stores Global Market Report 2024 – Market Size, Trends, And Forecast 2033
The sporting goods, hobby, musical instrument, and book stores market has experienced significant growth in recent years. It is projected to expand from $505.28 billion in 2023 to $540.79 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.0%. This growth during the historical period can be credited to favorable economic conditions, the rise of e-commerce and online sales, increased interest in education and entertainment, and a growing number of hobby enthusiasts.
What Are the Market Size Estimates for the Global Sporting Goods, Hobby, Musical Instrument, and Book Stores Market and Its Expected Growth Rate?
The sporting goods, hobby, musical instrument, and book stores market is projected to experience robust growth in the coming years, reaching $695.64 billion by 2028 at a compound annual growth rate (CAGR) of 6.5%. This growth during the forecast period is expected to be driven by health and wellness trends, the rise of DIY and home improvement activities, an aging population, and increased event-based sales.
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What Are The Primary Growth Drivers Of The Sporting Goods, Hobby, Musical Instrument, and Book Stores Market?
The expansion of e-commerce is anticipated to drive the sporting goods, hobby, musical instrument, and bookstore market in the future. E-commerce involves the buying and selling of goods and services online through devices such as computers, tablets, smartphones, and other connected devices. Products ranging from sporting goods to musical instruments and books are available on online platforms, providing consumers with convenient access to a wide selection of items.
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Who Are The Top Market Players Contributing To The Growth Of The Sporting Goods, Hobby, Musical Instrument, and Book Stores Market?
Key players in the sporting goods, hobby, musical instrument, and book stores market include Decathlon SA, Dick's Sporting Goods Inc., Frasers Group plc, BPS Direct LLC, Guitar Center Inc., Canadian Tire Corporation Limited, Recreational Equipment Inc, Sportsman's Warehouse, Hibbett Sports Inc., Thomann GmbH, Barnes & Noble Inc., Books-A-Million Inc., Half Price Books Inc., Sam Ash Music Corp., Music & Arts Center, Academy Sports + Outdoors, Cabela's Inc., Recreational Equipment Inc., Big 5 Sporting Goods Corp., Modell's Sporting Goods Inc., Dunham's Athleisure Corporation.
What Emerging Trends Are Affecting The Size Of The Sporting Goods, Hobby, Musical Instrument, and Book Stores Market?
Leading companies in the sporting goods, hobby, musical instrument, and bookstore market are concentrating on opening stores that provide customers with a unique athletic experience to boost their revenue. A concept store is a type of retail outlet that not only sells products but also delivers an immersive customer experience, often focused around a particular brand or theme.
How Is the Global Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Segmented?
1) By Type: Sporting Goods Stores, Hobby, Toy, Game Stores, Musical Instrument And Supplies Stores, Other Sporting Goods, Hobby, Musical Instrument, Book Stores
2) By Ownership: Retail Chain, Independent Retailer
3) By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store
Geographical Analysis: Western Europe Emerges as the Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Leader
Western Europe was the largest region in the market in 2023. Asia-Pacific was the second-largest region in the market. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Is The Definition And Overview Of The Sporting Goods, Hobby, Musical Instrument, and Book Stores Market?
Sporting goods, hobby, musical instrument, and book stores are retail outlets that sell a variety of products, including new toys, games, crafts, pottery items, books, bicycles and bicycle parts, camping gear, exercise and fitness equipment, athletic uniforms, specialty sports footwear, and other sporting goods, equipment, and accessories.
The Sporting Goods, Hobby, Musical Instrument, and Book Stores Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Sporting Goods, Hobby, Musical Instrument, and Book Stores Market Report: Trends, Opportunities, Strategies, and More
The Sporting Goods, Hobby, Musical Instrument, and Book Stores Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into sporting goods, hobby, musical instrument, and book stores market size, sporting goods, hobby, musical instrument, and book stores market drivers and trends, sporting goods, hobby, musical instrument, and book stores competitors' revenues, and sporting goods, hobby, musical instrument, and book stores market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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