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A new industry report, entitled: the 2025 Global Report for the Sporting Goods Industry ‘The new balancing act: Turning uncertainty into opportunity has recently been released by the World Federation of the Sporting Goods Industry (WFSGI) and McKinsey & Company.
The fifth edition of the annual industry report offers an in-depth examination of the key trends shaping the global competitive landscape in sporting goods. It features insights from two proprietary surveys, market research and analysis, and interviews with executives of Colnago, Decathlon, Lululemon, On, TRX, and Victory Group.
The report identifies physical inactivity as a major untapped market – sporting goods players have an opportunity to take targeted action to empower sedentary consumers to increase their physical activity levels.
Report findings
Over the past year, the sporting goods industry has persevered through economic volatility, geopolitical tensions, and evolving consumer behaviour. Softening growth—projected to be 6% annually from 2024 to 2029—is compelling executives to focus equally on the top and bottom lines. Still, the report found that 44% of industry executives are feeling ‘optimistic’ or ‘rather optimistic’ about 2025, signalling their cautious confidence in seizing opportunities amid pervasive challenges.
“Amid an uncertain terrain, our analysis highlights evolving consumer behaviour and trends that offer growth opportunities for sporting goods brands,” said Alexander Thiel, Partner at McKinsey. “To thrive in 2025, executives should focus on balancing top-line and bottom-line growth, engaging diverse consumer segments, and integrating in-person and digital experiences.”
About the research
The report features insights and perspectives from several research efforts: WFSGI Sporting Goods Industry Executives Pulse Check, December 2024 – a survey of 50 sporting goods executives to gauge their overall sentiment on the state of the industry and the factors that will matter most.
McKinsey Sporting Goods Report Consumer Survey, December 2024 – a survey of more than 3,600 consumers across Germany, the United Kingdom, and the United States to explore their approach to physical activity, interaction with live sports and entertainment, and consumption of sportswear brands. Of this sample, we segmented 1,842 respondents who identified as active consumers to further understand this segment.
Additional research and analysis—including a review of publicly available sources (annual reports, company publications, and press releases) and financial analysis on publicly traded companies to evaluate their performance and market shares.
You can view the 2025 Sporting Goods Industry report online now.
McKinsey & Company and WFSGI will be hosting a webinar about the report on March 17th. We recently spoke to Michelle Smyth, Head of International Sports & Cycling, at the World Federation of the Sporting Goods Industry on the topic of global inactivity, linking to the report’s identification of physical inactivity as a major untapped market.
