Singapore Sports and Fitness Goods Market Size, Analysis: By Product Type: Balls, Fitness Goods, Adventure Sports, Golf Goods, Others; By Fitness Goods: Cardiovascular Training Goods, Strength Training Goods; By End Use: Health Clubs/Gyms, Home Consumers, Hotels and Corporate Offices, Others; Competitive Landscape; 2024-2032

Singapore Sports and Fitness Goods Market Size

The sports and fitness goods market in Singapore is projected to grow at a CAGR of 4.8% between 2024 and 2032.

Singapore Sports and Fitness Goods Market Outlook

• As per the Economic Development Board in Singapore, till 2030, the annual disposable income is expected to grow at 5.3% CAGR which can offer favourable opportunities for an increase in Singapore sports and fitness goods market value.

• As per the Department of Statistics, as of 2023, 920,993 individuals belonged to the age range of 10 to 29.

• Direct healthcare costs attributable to physical inactivity in 2022, were over USD 48.5 million, as mentioned by the World Health Organisation.

Singapore Sports and Fitness Goods Market Growth

The Singapore market growth is popularly led by fitness goods such as athletic apparel and accessories and adventure sports equipment.

Fitness goods include gym machines (treadmills, weightlifting machines, etc.), workout clothes (moisture-wicking shirts, etc.), and footwear designed to support sports performance. With the emergence of home workouts, there has also been a surge in the popularity of smaller pieces of fitness equipment, such as yoga mats or resistance bands which also boosts the growth of the Singapore sports and fitness goods market.

Due to the rising focus towards health consciousness that can be associated with poor fitness levels, the sports and fitness goods industry is likely to witness growth in the domestic market. As of January 2022, Adidas Singapore announced the launch of its new brand “Centre” which is a mono-brand retail sports destination in the country.

Singapore Sports and Fitness Goods Market Trends

Notwithstanding Singapore's urban terrain, suppliers of adventure sports equipment can effectively cater to the needs of outdoors and adventure enthusiasts who require camping gear or hiking equipment, which contributes to the sports and fitness goods demand in Singapore. Furthermore, sports and fitness goods also serve adrenaline enthusiasts with a comprehensive range of products ranging from equipment to supplementary items like climbing ropes, helmets, and knee pads.

Recent Developments

As per the Singapore sports and fitness goods market analysis, Sport Singapore (SportSG) announced a ten-day Singapore Urban Sports & Fitness Festival for August 2024, which is expected to feature a variety of sports and fitness activities such as fitness racing and street dance that promote diversity in urban sports and bring together people from different communities.

Industry Outlook

As per the Singapore sports and fitness goods industry analysis, in a survey conducted by Sport Singapore (SportSG), around 74% of the survey participants stated that they participated in at least one sports activity in 2022, which is an improvement from the 72% participation in 2021. The top five sports and fitness activities among the participants were cycling, walking, jogging, swimming, and callisthenics.

Sports SG announced Sport Data Exchange Singapore, a data-sharing platform, in January 2024. This platform offers the data from the National Sport Participation Survey and can assist the sports participants, event organisers, and gym operators, among other crucial members of the sports ecosystem with better programs and offers. This platform can also be used by other industry players to contribute their own dataset, which can aid the sports sector, boost the demand for sports and fitness goods and increase the overall Singapore sports and fitness goods industry revenue.

Nike announced the opening of a sports store at 268 Orchard Road, Singapore, in January 2024. This sports hub features products from Nike and Jordan brands for men, women, and kids. Some of the popular products in its portfolio include fitness footwear and clothing that can aid the growth of the Singapore sports and fitness goods industry. This store is also expected to host fitness and wellness programs for the public with its specialised coaches and trainers.

As per the data from Semrush, Nike was the most visited website in Singapore in June 2024 with total visits of 969.83K, followed by Decathlon in second place with 616.71K and Adidas in third place with 321.21K visitors.  The rising number of visitors to the sports goods site can suggest an upward trend in the sales of sports and fitness equipment and can contribute positively to the Singapore sports and fitness goods market development.

The Growth of the Singapore Market Driven by Health Awareness and Government Initiatives

• Health Awareness: Rising health awareness and increasing emphasis on fitness and well-being drive the demand for sports and fitness goods.

• Government Initiatives: Government programs promoting sports participation and active lifestyles boost Singapore sports and fitness goods demand growth.

• Technology Integration: The integration of technology into fitness equipment and wearables enhances product appeal and functionality.

• Urban Lifestyle: The busy urban lifestyle and the need for convenient fitness solutions contribute to the market expansion.

Challenges Impacting the Growth of the Singapore Market Include High Competition and Supply Chain Disruptions

• High Competition: Intense competition from international brands and local manufacturers can impact market share and pricing strategies.

• High Costs: High costs of premium sports and fitness goods may limit their affordability for some consumers and affect Singapore sports and fitness goods demand forecast.

• Supply Chain Disruptions: Supply chain issues and import dependencies can affect the availability and pricing of sports and fitness goods.

Opportunities in the Singapore Market Driven by E-commerce and Niche Markets

• E-commerce Growth: The growth of e-commerce platforms provides opportunities for expanding the reach and sales of sports and fitness goods.

• Niche Markets: Catering to niche markets, such as specialized sports equipment and eco-friendly fitness products, can drive market differentiation.

• Corporate Wellness: As per the Singapore sports and fitness goods market dynamics and trends, increasing corporate wellness programs and initiatives provide opportunities for fitness product suppliers.

• Youth Engagement: Engaging the younger population through school programs and sports events can boost demand for sports goods.

Setbacks Faced by the Singapore Market Due to Economic Fluctuations and Changing Consumer Preferences

• Economic Fluctuations: Economic downturns can impact consumer spending on non-essential items like sports and fitness goods.

• Changing Preferences: Shifts in consumer preferences towards outdoor activities and home-based fitness solutions can affect traditional sports goods sales and Singapore sports and fitness goods market opportunities.

• Fast Fashion Impact: The fast fashion trend can lead to shorter product lifecycles and increased competition from non-specialized apparel brands.

• Counterfeit Products: The presence of counterfeit sports and fitness goods in the market can undermine consumer trust and brand reputation.

Key Players in the Singapore Market and Their Strategic Initiatives:

Decathlon

• Affordability: Focusing on providing affordable sports and fitness goods to cater to a wide range of consumers can increase Singapore sports and fitness goods market revenue.

• Innovation Hubs: Establishing innovation hubs to develop new and advanced sports equipment and technologies.

• E-commerce Expansion: Strengthening e-commerce platforms to enhance online sales and reach a broader customer base.

Nike, Inc.

• Brand Loyalty: Leveraging strong brand loyalty and extensive marketing campaigns to maintain market leadership is a crucial trend in Singapore sports and fitness goods market.

• Sustainable Products: Developing sustainable and eco-friendly sports products to appeal to environmentally conscious consumers.

• Digital Integration: Integrating digital technology into products and services, such as fitness apps and smart wearables.

Adidas AG

• Performance Focus: Emphasizing high-performance sports goods and apparel to cater to professional athletes and fitness enthusiasts.

• Collaborations: Collaborating with designers and celebrities to create limited-edition and high-demand products can boost the demand of Singapore sports and fitness goods market.

• Retail Experience: Enhancing the in-store and online retail experience through innovative store designs and customer engagement strategies.

Under Armour®, Inc.

• Technology Integration: Incorporating advanced technologies into sports apparel and footwear to improve performance and comfort.

• Youth Programs: Investing in youth sports programs and sponsorships to build brand awareness and loyalty among younger consumers can aid Singapore sports and fitness goods market expansion.

• Regional Expansion: Expanding its presence in regional markets through new store openings and partnerships.

Li-Ning Company Limited

• Brand Visibility and Marketing: Enhance brand visibility through high-profile sponsorships and localized marketing campaigns.

• Product Innovation and Development: Focus on R&D to introduce advanced sportswear and smart sports gear.

• Retail Expansion and Partnerships: Expand retail footprint via physical stores and e-commerce, and partner with local retailers to increase Singapore sports and fitness goods industry growth.

Yonex Co. Ltd.

• Product Differentiation: Emphasize high-quality badminton equipment with limited-edition products.

• Community Engagement and Sponsorships: Support local sports events and collaborate with schools to promote racket sports.

• Sustainability Initiatives: Implement eco-friendly manufacturing and engage in CSR activities.

Singapore Sports and Fitness Goods Industry Segmentations

Singapore Sports and Fitness Goods Industry Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Balls

• Fitness Goods

• Adventure Sports

• Golf Goods

• Others

Market Breakup by Fitness Goods

• Cardiovascular Training Goods 
  • Treadmills
  • Stationary Bikes
  • Rowing Machines
  • Ellipticals
  • Others
• Strength Training Goods

Market Breakup by End Use

• Health Clubs/Gyms

• Home Consumers

• Hotels and Corporate Offices

• Hospitals, Medical Centres, and Public Institutions

• Others

Singapore Sports and Fitness Goods Market Share

Strength training leads the sports and fitness goods market in Singapore, they consist of equipment and accessories which are designed to build muscle strength and improve muscular fitness. They encompass a diverse range of products ranging from free weights, and weight machines to resistance bands and kettlebells and cater to individuals at all levels of fitness.

Competitive Landscape

Major market players are expanding their outreach by investing in the integration of technology and customisation and personalization of products as consumers seek products tailored to their fitness preferences.

• Adidas AG

• Li Ning Co. Ltd.

• Yonex Co. Ltd.

• AIBI International Pte. Ltd.

• New Balance Athletics, Inc.

• BowFlex Inc.

• MERACH Inc.

• Others

Key Highlights of the Report

Singapore Sports and Fitness Goods Market Report Snapshots

Singapore Sports and Fitness Goods Market Size

Singapore Sports and Fitness Goods Market Growth

Singapore Sports and Fitness Goods Market Trends

Singapore Sports and Fitness Goods Market Share

Singapore Sports and Fitness Goods Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.