Portland, OR, June 21, 2021 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global athletic equipment and footwear industry was pegged at $224.7 billion in 2018, and is anticipated to garner $323.4 billion by 2025, manifesting a CAGR of 8.6% from 2021 to 2025.
Upgraded features in sportswear and footwear over the years drives the growth of the global athletic equipment and footwear market. However, the availability of counterfeit products impedes the growth to some extent. At the same time, easy availability of such products on online portals and increase in accessibility & convenience of purchasing these products through the internet presents lucrative opportunities in the industry.
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- The extended lockdowns, disrupted supply chain, suspended manufacturing activities, lack of raw materials, and several travel restrictions across the globe impacted the global athletic equipment and footwear market negatively.
- However, the global market is expected to recoup soon with relaxations on the current rules & regulations and with the rollout of mass vaccination programs.
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The global athletic equipment and footwear industry is studied across type and…