The Sporting Goods, Hobby, Musical Instrument, and Book Stores Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Sporting Goods, Hobby, Musical Instrument, and Book Stores Global Market Report 2024, The sporting goods, hobby, musical instrument, and book stores market size has grown strongly in recent years. It will grow from $505.28 billion in 2023 to $540.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to economic conditions, e-commerce and online sales, education and entertainment, hobby enthusiasts.
The sporting goods, hobby, musical instrument, and book stores market size is expected to see strong growth in the next few years. It will grow to $695.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to health and wellness trends, diy and home improvement, aging population, event-based sales. Major trends in the forecast period include healthcare and therapy applications, innovative products, digital entertainment and learning, educational technology integration, sustainability and eco-friendliness.
The sporting goods, hobby, musical instrument, and book stores market is expected to benefit from steady economic growth forecasted for many developed and developing countries. According to International Monetary Fund, the global GDP growth was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, foreign direct investments in the end-user markets, thereby driving the market during the forecast period.
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The sporting goods, hobby, musical instrument, and book stores market covered in this report is 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
The sporting goods, hobby, musical instrument, and book stores market report table of contents includes:
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