2024 Newsletter
SFIA: Manufacturers’ Sales Grew 4.2 Percent
In another industry report, the Sports & Fitness Industry Association’s (SFIA) 2024 Manufacturers’ Sales by Category Report found that product sales in the sporting goods, fitness and related recreational markets grew 4.2 percent last year. The association’s annual report compares revenues from previous years and, for 2024 and, naturally, includes pickleball as a new product category.

In 2023, the sporting goods industry grew 4.2 percent compared to 2022, reaching $121.66 billion, according to the SFIA report, and grew 26.8 percent compared to 2019 pre-pandemic levels. From 2010 to 2020, the industry only surpassed a four percent annual growth rate once, witnessing 4.2 percent growth in 2021.

Among the highlights:

• Of course pickleball had the highest growth rate of categories covered in the SFIA report, followed by Team Sports and Snow Sports categories. Pickleball product sales increased 30.7 percent in 2023 versus 2022.

• The Team Sports category sales did well in 2023 compared to 2022, with sub-categories growing over seven percent. Football, Baseball/Softball and Basketball grew over 10 percent. Football products had the highest Team Sports category growth at 11.9 percent, followed by Basketball at 10.1 percent and Baseball/Softball at 10 percent. Volleyball was the next highest with 9.3 percent, and Ice Hockey with 7.3 percent.

• The SFIA reported that the total sports equipment category reached $32.969 billion in sales in 2023.

“It is encouraging to see so many sports categories doing well, not only on the participation side but also when it comes to equipment sales,“ says Tom Cove, SFIA president and CEO. “Maintaining an over four percent growth rate across all categories going into 2023, especially following a huge year in 2021, is a great sign and shows that Americans’ demand for sports and fitness equipment remains very strong.”

• In 2023, total Athletic Footwear increased 5.7 percent led by Fitness/Workout shoes at 17.5 percent, followed by Baseball at 10.6 percent and Running at 8.1 percent. Total Sports Apparel was up 2.9 percent compared to 2022. Team uniform categories increased, with the overall category growing 6.5 percent.