IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

INDUSTRY REPORT

Athletic & Sporting

Goods
Manufacturing in
the US
Nov 2024

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IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

About
IBISWorld
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IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Table Of Contents Standard

1. About............................................................ 5 Imports........................................................ 37
Codes............................................................5 Exports........................................................38
Definition....................................................... 5 5. Geographic Breakdown.............................. 40
Related Terms.............................................. 5 Key Takeaways...........................................40
What’s Included............................................ 5 Business Locations..................................... 41
Companies....................................................5 6. Competitive Forces.....................................50
Related Industries......................................... 6 Key Takeaways...........................................50
Additional Resources.................................... 6 Concentration..............................................50
2. At a Glance...................................................8 Barriers to Entry.......................................... 51
Key Takeaways.............................................8 Substitutes.................................................. 52
Products and Services.................................. 9 Buyer & Supplier Power..............................53
Major Players.............................................. 10 7. Companies................................................. 56
Key External Drivers................................... 11 Key Takeaways...........................................56
Industry Structure........................................11 Market Share.............................................. 57
SWOT......................................................... 12 Companies..................................................58
Executive Summary.................................... 12 8. External Environment................................. 67
3. Performance............................................... 14 Key Takeaways...........................................67
Highlights.................................................... 14 External Drivers.......................................... 67
Key Takeaways...........................................14 Regulation & Policy.....................................70
Performance Snapshot............................... 15 Assistance...................................................71
Outlook........................................................23 9. Financial Benchmarks................................ 73
Life Cycle.................................................... 25 Key Takeaways...........................................73
4. Products and Markets.................................27 Cost Structure............................................. 73
Key Takeaways...........................................27 Financial Ratios.......................................... 76
Products and Services................................ 28 Key Ratios...................................................81
Major Markets............................................. 32 10. Key Statistics............................................ 83
International Trade......................................34 Industry Data...............................................83

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

About
A quick definition of the industry, its
products and services, major
companies and other key identifiers
help you confirm you’re in the right
place.

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

1. About
https://my.ibisworld.com/us/en/industry/33992a/about

Codes
NAICS 2017 - USA 339920

NAICS 2022 - USA 339920

Definition
Establishments in this industry manufacture a range of sporting and athletic goods, including balls, bags,
clubs, gloves, skates, protective equipment, boards, fishing gear and other supplies. These finished
products are then marketed to wholesalers and retailers. Establishments that are engaged in the
manufacturing of athletic apparel and footwear are excluded from this industry.

Related Terms
SPORTS PARTICIPATION RATES
The number of consumers participating in regular physical activity as a share of the total population.

BABY BOOMERS
Consumers born between 1946 and 1964.

PERSONAL HEALTH INVESTMENT TODAY

A government program designed to educate families about the benefits of exercising and healthy eating.

What’s Included
 Manufacturing baseball, basketball, bowling, hockey and tennis equipment
 Manufacturing fishing, tackle and camping equipment
 Manufacturing playground equipment
 Manufacturing golf equipment

Companies
 Callaway Golf Co
 Nike, Inc.
 Landscape Structures Inc.
 Playcore Inc.

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Related Industries
Industries in the Same Sector
 Competitors:
o Gym & Exercise Equipment Manufacturing in the US

 Complementors:
o Toy, Doll & Game Manufacturing in the US
o Sporting Goods Wholesaling in the US
o Sporting Goods Stores in the US

International Industries
 Athletic & Sporting Goods Manufacturing in Canada
 Toy and Sporting Goods Manufacturing in Australia
 Sporting Goods Manufacturing in the UK

Additional Resources
 National Sporting Goods Association
 United States International Trade Commission
 Sports & Fitness Industry Association
 National Collegiate Athletic Association

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At a Glance
Evaluate key industry data and trends
and get an overview of important
report sections to use in meetings
and presentations.

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

2. At a Glance
https://my.ibisworld.com/us/en/industry/33992a/at-a-glance

Revenue Employees Businesses

$10.1bn 27,908 1,135

’19-’24 ↑ 0.1 % ’19-’24 ↓ 0.3 % ’19-’24 ↓ 1.3 %
’24-’29 ↑ 1.0 % ’24-’29 ↑ 0.6 % ’24-’29 ↓ 0.3 %

Profit Profit Margin Wages

$756.5m 7.5% $1.6bn

’19-’24 ↓ 0.4 % ’19-’24 ↓ 0.2 pp ’19-’24 ↓ 0.3 %
’24-’29 ↑ 0.6 %

Key Takeaways
Performance
 Consumer habits are a major driver of sales fluctuations. As people return to sports, demand has
surged despite macroeconomic challenges that might push consumers to delay equipment
purchases.
 Trade dynamics are reshaping the athletic goods industry. With the strong dollar and ongoing trade
issues, import penetration is slowing down, giving domestic producers a chance to be more
competitive.
 Sustainability is shaping the future of sports goods production. Manufacturers are pivoting towards
environmentally friendly materials to cut costs and reduce reliance on volatile raw materials like
plastic.

External Environment
 Safety standards are non-negotiable for manufacturers. Compliance with regulations like the
Consumer Product Safety Improvement Act is essential to avoid fines and recalls, ensuring
consumer trust and preventing injuries.
 Golf equipment must adhere to specific quality standards. The USGA and R&A set guidelines that
influence product design to ensure consistent play quality across various markets worldwide.
 Sports participation trends are driving equipment demand. As more people dive into activities like
hockey and scuba diving, manufacturers are seeing a boost in equipment sales.

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Products and Services

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Major Players

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Key External Drivers

Key External Drivers Impact

Participation in sports Positive

Demand from sporting goods stores Positive
Trade-weighted index Negative
Demand from department stores Positive
Import penetration into the manufacturing sector Negative

Industry Structure
Characteristic Level Trend

Concentration Low
Barriers To Entry Moderate Steady
Regulation and Policy Moderate Steady
Life Cycle Mature
Revenue Volatility High
Assistance Low Steady
Competition High Steady
Innovation Moderate

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SWOT

Strengths Weaknesses Opportunities Threats

Low Capital Low & Steady Level High Revenue Very Low
Requirements of Assistance Growth Revenue Growth
High Competition (2018-2023) (2005-2023)
High Volatility High Revenue Low Outlier
High Imports Growth Growth
Low Profit vs. Sector (2023-2028) Low Performance
Average Participation in Drivers
High Customer Class sports Demand from
Concentration department stores
High Product/Service
Concentration
Low Revenue per
Employee

Executive Summary
Slam dunk: Rising health consciousness will stimulate demand for athletic equipment
Athletic and sporting goods manufacturers have benefited from rising disposable income and robust
demand for sports equipment following social distancing orders. During the initial hit of the pandemic,
manufacturers experienced a dip in sales as social distancing requirements harmed sports participation
rates. Additionally, the amount of time consumers spend on technology has risen during the period, limiting
the amount of time individuals participate in activities that use sporting equipment like golf. However,
improving macroeconomic conditions and pent-up demand for sports as the economy reopened enabled
consumers to increase sports participation, resulting in large revenue gains in 2021. Although heightened
inflationary pressures, elevated consumer uncertainty and less time spent on leisure activities have led to
revenue losses in 2022 and 2024, these fall short of reversing the 2021 jump. As a result, revenue has
been growing at an estimated CAGR of 0.1% to $10.1 billion through the end of 2024, including a 0.6%
downward inching that year alone.
Domestic producers have faced significant competition from foreign manufacturers, as lower operating
costs overseas enable them to charge lower prices. A strong US dollar has made imported products
comparatively more affordable to buyers, appealing to a price-conscious market and making domestic
producers less profitable. These trends have encouraged many manufacturers to offshore manufacturing
capabilities to countries with lower wage requirements and fewer environmental regulations, causing
imports to satisfy more than 40.0% of domestic demand.
The expected depreciation of the dollar is likely to create opportunities for domestic producers to recover,
as it enables exports to grow as a share of revenue and causes import penetration to weaken. Consumers
are expected to become more health-conscious, supporting demand for athletic equipment. Preventative
care and promoting physical activity are vital components to ensuring that consumers live healthier
lifestyles; demand for manufacturers rises as consumers focus on improving their quality of life. Overall,
revenue is expected to grow at a CAGR of 1.0% to $10.6 billion through 2029.

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Performance
Track historical, current and forward-
looking trends in revenue, profit and
other performance indicators that
make or break an industry.

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3. Performance
https://my.ibisworld.com/us/en/industry/33992a/performance

Highlights

Revenue Employees Businesses

$10.1bn 27,908 1,135

2019-24 CAGR ↑ 0.1 % 2019-24 CAGR ↓ 0.3 % 2019-24 CAGR ↓ 1.3 %
2024-29 CAGR ↑ 1.0 % 2024-29 CAGR ↑ 0.6 % 2024-29 CAGR ↓ 0.3 %

Profit Profit Margin

$756.5m 7.5%
2019-24 CAGR ↓ 0.4 % 2019-24 CAGR ↓ 0.2 pp

Key Takeaways
 Consumer habits are a major driver of sales fluctuations. As people return to sports, demand
has surged despite macroeconomic challenges that might push consumers to delay equipment
purchases.
 Trade dynamics are reshaping the athletic goods industry. With the strong dollar and ongoing
trade issues, import penetration is slowing down, giving domestic producers a chance to be more
competitive.
 Sustainability is shaping the future of sports goods production. Manufacturers are pivoting
towards environmentally friendly materials to cut costs and reduce reliance on volatile raw materials
like plastic.

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IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Performance Snapshot

Revenue: ↑ 2019-24 Revenue CAGR +0.1%

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Employees: ↓ 2019-24 Employees CAGR -0.3%

Employees Employees per Business Revenue per Employee

27,908 25 $361k
’19-’24 ↓ 0.3 % ’19-’24 ↑ 1.0 % ’19-’24 ↑ 0.4 %
’24-’29 ↑ 0.6 % ’24-’29 ↑ 0.9 % ’24-’29 ↑ 0.4 %

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Businesses: ↓ 2019-24 Business CAGR -1.3%

Businesses Employees per Business Revenue per Business

1,135 25 $8.9m
’19-’24 ↓ 1.3 % ’19-’24 ↑ 1.0 % ’19-’24 ↑ 1.4 %
’24-’29 ↓ 0.3 % ’24-’29 ↑ 0.9 % ’24-’29 ↑ 1.3 %

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Profit: ↓ 2019-24 Profit CAGR -0.4%

Total Profit Profit Margin Profit per Business

$756.5m 7.5% $666.5k

’19-’24 ↓ 0.4 % ’19-’24 ↓ 0.2 pp

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Current Performance
What's driving current industry performance?

Trade plays a major role in the industry

 For athletic and sporting goods manufacturers, a favorable trade dynamic enabled manufacturers to
boost the importation of raw goods and expand the offshoring of production facilities in lower-wage
countries.
 The recent appreciation of the dollar has led to slower domestic revenue growth. A strong dollar
makes imported products comparatively more affordable domestically, making them more attractive
substitutes among more price-conscious buyers.
 Imports play a major role in this industry, satisfying more than 40.0% of domestic demand.
However, consumers' growing interest in safer equipment, heightened inflationary pressures
weakening sales and a strong dollar have led to weakening import penetration, although it remains
high.
 The ongoing trade war and tariffs placed on Chinese-produced athletic and sports equipment have
contributed to slowing import penetration and supporting domestic producers to become more
competitive.

Changes in consumer behavior impact sales

 Manufacturers' growth relies on consistent consumer demand and strong domestic macroeconomic
performance, two trends that suffered during the pandemic as consumer confidence fell and income
was allocated to more discretionary spending.
 Although demand for athletic and sporting goods grew as the economy began to reopen in 2021,
consumers' pent-up demand for group activities pushed many toward sports, making sales soar.
 Although consumers were quick to return to sports and other athletic activities, weakening
macroeconomic conditions, including rising interest rates, elevated inflation and weaker consumer
confidence, pushed consumers to postpone buying new equipment, contributing to revenue losses.

Shifting industry dynamics have created growth opportunities

 Manufacturers have become increasingly able to target niche, specialized markets by leveraging e-
commerce platforms. Producers serving these markets often face less competition, allowing for
higher profit and faster revenue growth.
 A popular cost-cutting practice is offshoring manufacturing capabilities to countries with lower
operating costs, often with less strict labor and environmental regulations. These operating
advantages enable foreign producers to offer lower selling prices.
 This trend has enhanced price-based competition domestically, contributing to weakening profit
while pushing many to focus on their business strategy and take advantage of growth in other
industry niches like e-commerce.
 As domestic buyers look for products that meet strict quality and safety standards, import
penetration has weakened. This shift in consumer behavior has supported demand for domestic
producers, driving revenue gains.

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The growing adoption of automated equipment improves production processes

 With athletic and sporting goods manufacturers benefiting from strong consumer and commercial
demand for their products, many producers have looked into expanding the proliferation of
automated equipment in an attempt to improve production efficiency.
 The growth of robotic processing automation technology enables more rapid production of athletic
goods and sporting accessories, many of which require significant attention to detail to ensure
quality standards and usage when bought by customers.
 Since inflation has exacerbated the cost of many raw materials and heightened broader operational
costs, manufacturers have been forced to upgrade their existing facilities to develop higher-quality
equipment for customers.

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What influences industry volatility?

Import competition and consumer preferences enhances volatility

 Manufacturers' reliance on large-scale imports of goods and services, coupled with a broad
consumer outreach globally, creates a moderate level of volatility. Consistent dependence on
consumer sports participation can exacerbate volatility, as periods of economic uncertainty often
dampen sports participation, harming demand.
 Imported gear has become less popular among domestic buyers as consumers increasingly
prioritize buying higher-quality products. Many consumers consider domestic athletic and sporting
goods to be safer for users.

Technological advancements drive volatility in sporting goods manufacturing

 Technological advancements impact production processes as manufacturers face increasing
pressure to integrate new technologies into their product lines, which can lead to shifts in production
costs and timelines. These changes require manufacturers to constantly innovate to maintain their
competitive edge and align with consumer expectations.
 The increased focus on research and development demands substantial investment. While these
investments are crucial for innovation, they also introduce risks if the new products don't meet
market demands or fail to outperform competitors. Balancing R&D investment with risk management
becomes essential for sustainability in this sector.

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How do successful businesses overcome volatility?

Leverage economies of scale to lower unit costs
Athletic and sporting goods manufacturers can reduce unit costs by increasing production volume.
This helps manage volatility by maintaining competitive pricing and profitability, which is essential for
thriving in a fluctuating market environment.

Secure export markets

Diversifying into international markets stabilizes revenue streams for athletic and sporting goods
manufacturers. By reducing reliance on domestic demand, companies can mitigate the impact of
changing consumer preferences, supporting growth and resilience against volatility.

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Outlook ↑ 2024-29 Revenue CAGR +1.0%

What's driving the industry outlook?

Accelerating demand for sports participation will benefit industry growth

 As the domestic and global economies continue to recover, inflationary pressures are expected to
subside, driving demand for sports and other physical activity, driving a need for new equipment.
 Consumers are becoming increasingly health-conscious. This has not only boosted demand for
healthier food but has led to growth in sports participation, including activities like running and
kayaking. This trend is exemplified by an aging population and an active baby boomer generation.
 Manufacturers will look to cater their production toward these demographics and take advantage of
this industry niche, particularly as the obesity rate for adults is expected to reach 50.0% by 2030,
according to a study from the Centers for Disease Control (CDC).
 Direct demand from consumers is not the only demand stream benefiting manufacturers. Many
corporate customers looking to maintain lower healthcare costs will push for wellness programs that
involve investment into sporting goods equipment for their employees, benefiting sports equipment
production.

Evolving international markets will alter how producers operate

 Shifting international demand and prices abroad will affect how domestic manufacturers operate
and influence their rate of production across domestic and global trading markets.
 The expected depreciation of the US dollar is likely to boost exports as a share of revenue and
cause import penetration to slow down. A weak dollar encourages domestic producers to export
their goods and build production facilities in the United States, changing marginal costs for the
production process.
 Although exports are expected to gain traction in the domestic and global markets, domestic
manufacturers will continue to face significant competition from foreign manufacturers, as lower
operating costs overseas will continue to give them a price advantage. Similarly, the dependence on
foreign labor will continue to pose a challenge for domestic production facilities.

Shifting commercial trends are poised to boost the industry production process
 One of the key factors affecting how industry manufacturers will operate is a shift in commercial
trends that can potentially bolster the industry.
 The push on the consumer side toward a healthier lifestyle has added to favorable marketing
opportunities for the industry. Production contracts are increasingly aimed at manufacturing goods
for health-conscious consumers while moving away from traditional brick-and-mortar sales toward a
larger online presence.
 As brick-and-mortar stores continue to phase out in favor of e-commerce markets, sellers of sports
goods and athletic items in the industry will look to take advantage of this trend, which enables not
only a streamlined sales process between the store and the consumers, but also lowers operating
costs.

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Higher emphasis placed on sustainability will influence operators’ rate of growth

 Since athletic apparel and sporting goods production is heavily dependent on a variety of raw
materials, such as plastic and synthetic fibers, there will be a higher emphasis on producing
sustainable clothing that’s more environmentally friendly and a fiscally beneficial investment for
operators.
 With broader uncertainty in commodity prices stemming from high global inflation, the immediate
future will see operators looking to move toward more sustainable materials when crafting athletic
apparel and sporting goods like basketballs.
 By crafting goods that are made from environmentally friendlier sources, athletic apparel and
sporting goods operators can improve their production efficiency, while also minimizing their
dependence on historically volatile raw goods such as plastic, further improving their growth
prospects.

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Life Mature
Cycle

Why is the industry mature?

Contribution to GDP
Athletic and sporting goods manufacturers contribute have been lowering their contribution to GDP.
Revenue volatility limits manufacturers' ability to contribute to the economy despite revenue growing since
2019.

Market Saturation
The market is moderately saturated, with imported goods and equipment satisfying nearly half of domestic
demand and large brands like Nike accounting for a significant share of sales. However, a wide product
range and exclusivity deals prevent the market from becoming oversaturated.

Innovation
New product developments aim to ensure users' safety, with new gear focusing on lessening the impact of
tackles and hits. Advancements in safety and quality in equipment like helmets reflect ongoing innovation.

Consolidation
Consolidation activity has accelerated in response to growing competition from low-cost foreign producers,
like those in China and Vietnam. Producers looking to expand their product range often opt for mergers and
acquisitions to access other companies' patents.

Technology and Systems

Producers have been implementing new technologies, including automated equipment, to standardize the
production process and lower dependence on manual labor.

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Products and
Markets
Find out what the industry offers,
where trade is most concentrated and
which markets are buying and why.

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4. Products and Markets

https://my.ibisworld.com/us/en/industry/33992a/products-and-markets

Largest Market
Product Innovation
$4.8bn Moderate
Other equipment

Key Takeaways
 Inflation limits golf equipment sales. While golf participation increased, younger consumers faced
tighter budgets, leaving baby boomers as the primary customers and stalling potential growth.
 Schools drove a bounce-back in playground equipment demand. After pandemic-induced
closures, pent-up demand and federal funding helped fuel growth as schools reopened and
invested in new equipment.
 Sporting goods manufacturers thrive on vertical integration. By bypassing wholesalers and
retailers and connecting directly with consumers, these stores capitalize on growing sports
participation and keep pace with changing consumer trends. Major manufacturers like Nike largely
benefit from vertical integration.

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Products and Services

How are the industry’s products and services performing?

Golfing has been becoming a more popular activity

 The golf equipment product segment is composed of clubs, balls, gloves and other golf-related
equipment manufactured within the industry.
 Golfing became more popular in 2020, as many consumers considered it an activity that complied
with social distancing regulations and could be practiced safely, resulting in significant gains in 2021
as more courses opened.
 One of the most important factors that determine growth in this segment is the golf participation rate
from consumers. Data from the National Golf Foundation (NGF) shows that an additional 600,000
consumers participated in golf courses in 2021, highlighting the resiliency of this sector.
 Dampened demand from younger consumers following increased inflationary pressures has hurt the
golf equipment segment. With less discretionary income and leisure time available, demand for this
segment has primarily been fueled by the baby boomer generation, limiting growth potential.

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Returning to school fuels new demand for playground equipment

 The playground equipment segment is composed of swings and handlebars, among other
playground staples, produced by manufacturers and sold directly to schools and municipal
governments.
 As this segment is sanctioned primarily by schools and local government authorities, growth
depends on local economic stability. Sutdowns and social distancing measures in 2020 forced many
schools to close and move to remote conditions, dampening demand for playground equipment.
 A quick reopening, pent-up demand from schools for new equipment and additional funding
available from expansive federal stimulus programs helped this product segment to recover.

Rocky consumer demand causes stagnation for fishing tackle and equipment
 The fishing tackle and equipment segment is composed of fishing poles, tackle and outdoor
equipment like tents, sleeping bags and outdoor cooking materials. This segment represents a
significant outdoor leisure sector for the industry.
 Slow growth in consumers' participation in leisure and sports led to stagnating demand for fishing
products. However, the popularity and outdoor nature of these activities somewhat protected
manufacturers from pandemic-related losses.
 Fishing has remained a popular sporting activity in recent years, as many consumers have kept it as
a hobby. As more people continue to fish, this product segment will grow to account for a larger
share of revenue.

Consistent sports participation maintains strong demand for broader sports equipment
 Additional miscellaneous sports equipment not previously mentioned includes sports equipment for
various sports and activities. Some examples include billiards and pool equipment, bowling balls,
basketballs, footballs, surfboards, waterskies, water sports equipment, protective equipment,
baseball bats, softball bats, archery equipment, tennis equipment, winter sports equipment, among
many others.
 The broad coverage of products within this segment touches a variety of sports and physical
activities, making it the largest segment of the industry and the most popular among consumers.
 Demand for this segment is expected to continue growing as it accounts for multiple sports that are
highly popular among consumers, particularly as US consumers become increasingly health-
conscious.

What are innovations in industry products and services?

Automation cuts costs and enhances quality

 Many manufacturers have been adopting automated equipment for the production process. These
allow for increased efficiency and precision, resulting in consistent product quality. Technological
advancements help manufacturers stay competitive by optimizing production without sacrificing
quality or safety.
 By lowering reliance on manual labor, manufacturers can lower operational costs and improve
profit. Automated systems also help manage high wage expenses, a significant concern for the

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industry.
 By making the production process more efficient, manufacturers can lower per-unit production
costs, allowing them to offer more competitive prices. This shift towards automation highlights the
industry's commitment to cost-effective, high-quality production.

Innovations in athletic equipment prioritize safety and transparency

 The NFL's collaboration with Biocre signifies a movement towards better transparency in helmet
safety. By publishing helmet safety test results, the league sets a new standard for player
protection. This transparency drives demand for helmets meeting top safety criteria.
 Growing demand from major sports leagues for safer equipment pushes manufacturers to innovate.
Companies must place player safety at the forefront to succeed, encouraging the creation of
technologically advanced and safer sports gear.
 Professional sports leagues have been encouraging players to wear protective equipment, with one
of the latest pushes encouraging NFL players to adopt Guardian Caps, a patted helmet cover, into
their practice and game-day gear.

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What products or services do successful businesses offer?

Produce a differentiated product
Manufacturers can stand out in the athletic and sporting goods space by creating unique products
that appeal to specific athlete needs and preferences. Differentiation allows brands to capture niche
markets and foster brand loyalty among consumers.

Leverage product design, quality and brand strengths

In sports goods, functionality, durability and aesthetics are crucial in winning and retaining customers
who rely on high-performance gear. Offering high-quality designs and a strong brand identity ensures
consumer trust.

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Major Markets

What’s influencing demand from the industry’s markets?

Acceleration of e-commerce boosts online retailers

 This market segment is composed of sales to online retailers, which generate the largest share of
revenue.
 Companies participating in e-commerce have many advantages. Since transactions are conducted
online, these retailers exhibit less overhead and administrative costs, which benefits the stores and
the consumers as well, as it enables lower prices. Consumers are also increasingly favoring these
retailers, as having an online platform enables them to compare products and consider consumer
reviews.
 The pandemic exacerbated this trend, as many consumers moved to online retail to preserve their
health, safety and time, highlighting how evolving consumer trends play a huge role in influencing
growth in this market segment.
 Moving forward, larger traditional companies like Nike will continue to accelerate their online
footprint and appeal to these consumers, particularly as e-commerce activity will remain elevated
following the pandemic.

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Strong distribution infrastructure benefits sporting goods stores

 The sporting goods stores market segment is composed of sporting goods retailers that sell directly
to consumers.
 One of the most popular markets for the industry, sporting goods stores have maintained strong
growth over the past five years, as persistent consumer demand and strong sports participation
rates have fueled growth in this market.
 The acceleration of stronger distribution networks that have enabled sporting goods stores like Nike
to bypass wholesalers and incorporate retail operations has added to the growth trajectory for this
markets segment.
 With the addition of retailing, sports goods stores will have an opportunity to reach consumers
directly while maintaining consistent contact with manufacturers on the latest trends and
preferences from consumers.

Popularity among consumers fuels growth for warehouse clubs

 The warehouse clubs segment is composed of sales generated from large warehouse clubs like
Costco, BJ's and Sam's Club.
 As consumers increasingly favor larger warehouse clubs that offer lucrative benefits, convenience,
favorable memberships and competitive prices, manufacturers have taken note, with the market
segment accounting for a large portion of revenue.
 Exclusivity to certain products is another advantage warehouse clubs possess, as certain sports
products and athletic apparel can only be purchased at these locations, siphoning demand from
specific consumer niches toward this market.

Evolving market trends lower demand for department stores

 This market segment is composed of sales generated from department stores such as Macy's and
JCPenney.
 Although department stores offer a wide selection of goods, demand has remained low for this
market as consumers have shifted their demand toward alternative markets like sporting goods
stores and online retailers.
 Strong consumer participation in sports enabled broader growth throughout the industry and
alleviated some of the losses incurred during the pandemic.

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International Trade

Total Imports Total Exports Trade Balance

$7.0bn $1.4bn Net Importer

’19-’24 ↓ 1.2 % ’19-’24 ↓ 2.1 % ↓ Deficit: $-5.6bn
’24-’29 ↓ 0.6 % ’24-’29 ↑ 1.8 %

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IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

International Trade Imports

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International Trade Exports

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Imports

High Decreasing

What are the industry’s import trends?

Imports satisfy a significant portion of domestic demand

 Imports account for more than 40.0% of domestic demand, portraying the globalized nature of the
industry. Producers based in countries like China and Vietnam often benefit from lower operating
expenses, enabling them to set more competitive prices.
 As the industry faces moderate concentration and a wide niche of consumers, any advantage in
cutting production costs bodes well for manufacturers looking to manage operating costs, even as
global volatility remains high.
 The recent appreciation of the dollar created opportunities for foreign producers to enter and grow in
the US market. Despite these favorable trends, heightened inflationary pressures and rising
demand for high-quality equipment have caused import penetration to weaken.

Tariffs on Chinese equipment support domestic manufacturers

 Elevated operating costs in the United States have pushed many producers to move manufacturing
capabilities overseas as a cost-saving measure, benefiting from fewer wage and environmental
requirements. This practice allowed them to become more profitable and competitive in the
domestic market.
 The ongoing trade war with China has impacted these manufacturers, as higher tariffs on some
sporting goods have contributed to Chinese products accounting for a smaller share of imports and
overall import penetration to weaken.

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Exports

Moderate Decreasing

What are the industry’s export trends?

The growing appeal of international markets boosts exports

 As sports participation continues to grow worldwide, many domestic manufacturers have considered
foreign markets an appealing opportunity to expand their consumer outreach, enabling exports to
grow as a share of revenue.
 In addition to broad consumer audiences for sports like soccer and basketball, international markets
offer industry manufacturers an opportunity to diversify their consumer base, particularly as the
industry faces heightened competition from less-expensive foreign brands.

Unfavorable global macroeconomic conditions harm export activity

 As profit remains tight, manufacturers have looked at increasing their global outreach, particularly
as online and e-commerce trends have accelerated in popularity. However, prominent competition
and unfavorable global macroeconomic conditions have caused exports to weaken as a share of
revenue.
 The appreciation of the US dollar in recent years has contributed to slower export growth. However,
the expected depreciation of the dollar will make domestic gear more affordable internationally,
driving export growth over the coming years.

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Geographic
Breakdown
Discover where business activity is
most concentrated in this industry
and what’s driving these trends.

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5. Geographic Breakdown
https://my.ibisworld.com/us/en/industry/33992a/geographic-breakdown

Key Takeaways
 The West, especially California, is a hotspot for sporting goods manufacturing. With its large
population and favorable weather, businesses can efficiently reach diverse consumers and reduce
shipping expenses.
 The Southeast's warm climate and strong consumer demand attract manufacturers. Regions
like Florida offer favorable conditions for year-round outdoor sports activities, protecting
manufacturers from seasonal fluctuations.
 The Rocky Mountains are perfect for winter sports manufacturers. Colder weather ensures
continuous demand for winter sports gear, allowing companies to focus on specialized equipment
for sports like skiing and snowboarding.

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IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Business Locations

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IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

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Percentage of total industry Establishments,Revenue,Wages,Employment in each region

State Establishments Establishments Revenue Revenue Wages Wages Employment Employment
Units % $m % $m % Units %

California 203 17.2 2,026.9 20.1 281.9 17.1 4,196 15.0

Utah 43 3.7 1,029.9 10.2 154.8 9.4 2,958 10.6
Florida 84 7.1 223.3 2.2 47.6 2.9 1,007 3.6
Massachusetts 25 2.1 861.0 8.5 190.8 11.6 2,737 9.8
Texas 76 6.5 280.3 2.8 46.5 2.8 1,151 4.1

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IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Illinois 39 3.3 809.4 8.0 108.2 6.6 1,468 5.3

Washington 53 4.5 441.9 4.4 86.4 5.2 1,333 4.8
Minnesota 45 3.8 577.7 5.7 81.6 5.0 1,391 5.0
Michigan 50 4.2 157.3 1.6 26.0 1.6 535 1.9
Arizona 24 2.0 427.5 4.2 100.5 6.1 1,464 5.2
Pennsylvania 47 4.0 333.5 3.3 63.1 3.8 1,171 4.2
Wisconsin 44 3.7 345.4 3.4 69.0 4.2 1,384 5.0
New York 43 3.7 146.2 1.4 37.0 2.2 668 2.4
Colorado 43 3.7 211.1 2.1 40.0 2.4 765 2.7
Ohio 31 2.6 218.0 2.2 57.1 3.5 1,074 3.8
Georgia 29 2.5 265.9 2.6 40.3 2.4 773 2.8
Vermont 10 0.8 245.3 2.4 39.9 2.4 429 1.5
Oregon 42 3.6 172.7 1.7 44.1 2.7 884 3.2
Missouri 24 2.0 217.8 2.2 41.5 2.5 893 3.2
North Carolina 33 2.8 103.0 1.0 31.9 1.9 557 2.0
Idaho 29 2.5 49.5 0.5 10.5 0.6 268 1.0
Alabama 19 1.6 204.9 2.0 38.6 2.3 694 2.5
Indiana 28 2.4 186.2 1.8 31.5 1.9 648 2.3
Virginia 14 1.2 171.0 1.7 32.0 1.9 506 1.8
Tennessee 22 1.9 147.6 1.5 22.6 1.4 396 1.4
Arkansas 17 1.4 136.6 1.4 22.4 1.4 531 1.9
Iowa 21 1.8 62.0 0.6 11.2 0.7 211 0.8
New Jersey 20 1.7 54.8 0.5 5.6 0.3 126 0.5
Nevada 17 1.4 99.8 1.0 25.2 1.5 325 1.2
Montana 19 1.6 108.9 1.1 15.4 0.9 368 1.3
Mississippi 10 0.8 40.4 0.4 17.7 1.1 395 1.4
Hawaii 17 1.4 7.6 0.1 1.9 0.1 50 0.2
South Carolina 16 1.4 93.2 0.9 8.4 0.5 148 0.5
Kentucky 14 1.2 91.9 0.9 13.3 0.8 334 1.2
Connecticut 16 1.4 50.7 0.5 10.3 0.6 163 0.6
Maine 8 0.7 33.4 0.3 7.8 0.5 221 0.8
Nebraska 15 1.3 42.2 0.4 9.4 0.6 163 0.6
Louisiana 14 1.2 33.5 0.3 8.4 0.5 206 0.7

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IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Rhode Island 6 0.5 30.6 0.3 6.4 0.4 173 0.6

Kansas 11 0.9 15.8 0.2 2.9 0.2 85 0.3
Maryland 10 0.8 9.8 0.1 1.9 0.1 44 0.2
Oklahoma 10 0.8 31.2 0.3 2.0 0.1 51 0.2
South Dakota 3 0.3 8.7 0.1 2.0 0.1 52 0.2
New Hampshire 5 0.4 12.5 0.1 1.7 0.1 34 0.1
Wyoming 5 0.4 2.8 0.0 0.4 0.0 15 0.1
North Dakota 3 0.3 6.8 0.1 1.2 0.1 23 0.1
New Mexico 3 0.3 1.9 0.0 0.4 0.0 16 0.1
Delaware 1 0.1 1.7 0.0 0.4 0.0 20 0.1
Alaska 2 0.2 2.1 0.0 0.3 0.0 10 0.0
West Virginia 1 0.1 1.2 0.0 0.2 0.0 9 0.0

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Where are industry businesses located?

Mostly favorable weather attracts producers to the West

 The West, particularly California, is home to the most athletic and sporting goods manufacturers.
This area's large population offers access to a diverse consumer base, making it an attractive
location for businesses seeking to maximize market reach and minimize shipping expenses.
 Proximity to major population centers helps manufacturers reduce logistical costs and support
efficiency. The accessibility to a broad segment of potential consumers enables companies to tailor
their offerings to diverse demographic needs.
 Cities like Los Angeles benefit from favorable environmental conditions, promoting a year-round
sports culture. This consistent demand for sporting goods encourages manufacturers to establish
operations in the region, taking advantage of the climate to sustain ongoing consumer engagement.

Booming consumer demand fuels growth in the Southeast

 Strong consumer demand and favorable weather in the Southeast attract manufacturers to the
region. Florida, in particular, offers consistently warm weather, ideal for outdoor activities. This
climate is essential for manufacturers whose products support year-round outdoor sports and
activities.
 The region's large population centers and compact geography facilitate logistical operations.
Proximity to major trade ports lowers shipping costs for finished goods, lowering operating expenses
and making producers more competitive.

A large manufacturing presence benefits the Great Lakes

 The Great Lakes region and its strong manufacturing base appeal to athletic and sporting goods
producers. States like Illinois offer ideal conditions for setting up production facilities because of
their established industrial infrastructure.
 The Great Lakes' extensive network of manufacturing facilities also ensures efficient supply chain
operations, facilitating collaboration and cost management for these businesses and supporting
production.
 The region's proximity to Canada, the largest export market for these goods, supports
manufacturers through lower transportation costs. This strategic location optimizes production and
export logistics, making it an attractive choice for producers.

Consistent winter presence sparks growth in the Rocky Mountains

 The Rocky Mountains region, known for its harsh and consistent winters, offers an ideal
environment for manufacturers focusing on producing athletic and sporting goods for winter sports.
Continuous demand for skiing and hockey equipment drives manufacturers to establish operations
here.
 Manufacturers benefit from a niche market in the Rocky Mountains' cold climate. The dependable
winter weather ensures ongoing demand for winter sports gear, allowing companies to focus on
producing specialized equipment that caters to skiing, snowboarding and other cold-weather
activities.

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IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

How do businesses use location to their advantage?

Operate in a location that is close to key suppliers
Being near key suppliers minimizes shipping costs and lead times, enabling a more
responsive production process. This proximity allows efficient manufacturing, which is
crucial in the fast-paced athletic and sporting goods market.

Operate in a location that is close to key markets

Basing operations near key markets reduces transportation time and costs, ensuring
quicker deliveries. This proximity enhances market responsiveness, helping companies
keep pace with evolving consumer demands and athletic and sporting goods trends.

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Competitive
Forces
Uncover challenges and benefits in
the operating environment, digging
into market share, buyer and supplier
power and key success factors for
operators.

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

6. Competitive Forces
https://my.ibisworld.com/us/en/industry/33992a/competitive-forces

Key Takeaways
 Domestic producers are finding a competitive edge. As import challenges grow, domestic
manufacturers are positioned well to meet demand with products that meet local safety standards
and focus on specific sports.
 Niche markets offer growth potential for new producers. By focusing on specific consumer
needs, emerging companies can create competitive advantages and expand within diverse product
segments.

Concentration

Low

What impacts the industry’s market share concentration?

Diverse product segmentation creates room for new producers

 Offering a wide product range gives manufacturers opportunities for new entrants to target specific
consumer niches and expand. By tailoring products to niche markets, new producers can carve out
a space to become more competitive.

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

 Regional preferences for different sports open avenues for new manufacturers to establish a
presence. By aligning production with local sports preferences, these entrants can grow their market
share.
 For larger companies, securing a majority market share becomes challenging because of the rising
costs of producing certain high-cost items, such as playground equipment, which can make
maintaining profitability difficult.

Exclusivity agreements influence market share concentration

 Exclusivity agreements are common in the athletic and sporting goods space, restricting certain
products to specific sellers and preventing other retailers from offering these items. This practice
influences market dynamics by fostering increased internal competition and limiting the ability of
new entrants to compete.
 Controlling a specific segment of sports product demand can lead to a consistent and secure share
of the market for established companies. This strategy can deter new competitors and reinforce the
market position of companies with strong brand recognition and existing customer loyalty.

How do successful businesses handle concentration?

Develop a wide and expanding product range
A diverse and growing product lineup captivates a broader audience and meets various athletic
needs. This strategy ensures customer retention and adaptability to market trends, vital for sustaining
success in a competitive market.

Undertake ongoing research and development on existing and new products

Continuous innovation keeps the product lineup fresh and competitive by enabling the creation of
cutting-edge offerings that cater to evolving consumer preferences, ensuring sustained relevance and
advantage in a fragmented industry.

Barriers to Entry

Moderate Steady

What challenges do potential industry entrants face?

Legal
 New manufacturers face significant legal barriers, particularly concerning intellectual property rights
and patents. New companies must carefully navigate these areas to avoid infringement issues and
potential lawsuits that can halt progress. Producers must also comply with environmental and labor
regulations.

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Start-up Costs
 New production facilities require substantial investments, including securing a facility, acquiring
equipment and hiring staff. Manufacturers must allocate significant resources toward recruiting
specialized personnel to drive research and development efforts.

Differentiation
 The market's low concentration and diverse product offerings create opportunities for new entrants.
Despite significant internal and external competition, a broad consumer base and various sports
streams offer manufacturers multiple avenues for capturing market share.

Labor Expenses
 The industry is labor-intensive, with high expenses associated with facility maintenance and paying
specialized research and development staff. Securing well-compensated, skilled employees to
develop new products results in high wage expenses.

How can potential entrants overcome barriers to entry?

Optimize operating capacity
Sporting goods manufacturers must streamline production to be cost-effective and
competitive. Efficient use of resources and machinery lowers operating costs and
drives output, making entering and thriving in this competitive market easier.

Develop strong technical product knowledge

Having in-depth expertise in product design and materials is essential as it enables
manufacturers to innovate and improve product quality, ensuring that their offerings
meet performance standards and customer expectations.

Substitutes

Moderate Increasing

What are substitutes for industry services?

Imports
 Foreign manufacturers, particularly from China and Taiwan, present a significant challenge to
domestic producers. These countries offer lower production and labor costs, allowing them to
charge lower prices and driving price-based competition domestically.

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IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

 Recent trade tensions with China and growing consumer health awareness have weakened import
penetration. The rising costs of imports and stringent domestic safety standards favor locally made
products, making domestic manufacturers more competitive.

How do successful businesses compete with substitutes?

Invest in research and development
Investing in R&D allows manufacturers to continuously improve product performance,
stay ahead of trends and efficiently respond to changing consumer preferences,
helping producers maintain a competitive edge over substitutes.

Establish brand names

Building a strong, recognizable brand fosters consumer trust and loyalty, making
customers less likely to switch to substitutes. A compelling brand story and consistent
quality encourage repeat purchases.

Buyer & Supplier Power

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

What power do buyers and suppliers have over the industry?

Buyers: Consumer preferences and continuous interest in sports fuels manufacturing demand

Moderate Increasing

 Consumer preferences drive demand for sporting goods. Regional variations across the country
push manufacturers to continuously adapt to shifting trends, as manufacturers rely on consumer
interest in sports and athletic activities.
 The rising influx of imported products offers buyers various alternatives, intensifying price
competition and adversely affecting domestic producers. Lower-cost international options can easily
replace local goods, pressuring local manufacturers to innovate or cut prices to remain competitive.
 Manufacturers secure contracts with major retailers to remain competitive, helping to ensure steady
demand. Strategic partnerships can protect domestic producers from fluctuating demand, somewhat
making them more competitive against international producers.

Suppliers: Limited alternatives and contracts boost supplier power

Moderate Increasing

 Manufacturers often enter contracts with suppliers to stabilize input costs and reduce financial risk.
These agreements limit producers' ability to switch suppliers during the contract term, strengthening
supplier power.
 Manufacturers face strict quality and safety standards for athletic goods. They must also ensure that
suppliers can meet high-volume purchases. Although upstream industries are fragmented, specific
safety requirements lead to fewer viable alternative suppliers, driving supplier power.

How do successful businesses manage buyer & supplier

power?
Develop a strong market profile
Creating a recognizable brand enhances customer loyalty and diminishes buyer power
by differentiating products from competitors. A strong brand also attracts suppliers
eager to associate with a well-regarded company, reducing supplier power.

Offer a competitively priced product

Offering competitive pricing attracts price-sensitive customers. By sourcing materials
cost-effectively and leveraging economies of scale, athletic goods producers can
negotiate better deals with suppliers, diminishing supplier power.

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Companies
Find out which companies hold the
most market share and how revenue,
profit and market share have shifted
over time for these leaders.

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

7. Companies
https://my.ibisworld.com/us/en/industry/33992a/companies

Key Takeaways
 Costly production impacts large companies' market share. As manufacturing expenses rise,
especially for high-cost items, it becomes harder for big players to maintain profitability and
dominate the market.
 Acquisitions have bolstered Topgolf Callaway Brands' market presence. Their purchase of
companies like OGIO, Travis Mathew and Jack Wolfskin and merging with Topgolf has diversified
their offerings and expanded consumer reach in active lifestyle and entertainment sectors.
 Nike has been increasingly growing its online presence. The company is focusing on
sustainable growth and market responsiveness through direct consumer engagement and
organizational restructuring.

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Market Share

Chart displays current year only in the PDF version of this report. You can view and download
chart for all other years associated with this industry on my.ibisworld.com.

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IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Companies
Company Market Share (%) Revenue ($m) Profit ($m) Profit Margin (%)
2024 2024 2024 2024

Callaway Golf Co 13.3 1,339.4 68.2 5.1

Nike, Inc. 13.3 1,339.4 68.2 5.1
Landscape Structures Inc. 2.0 198.8 14.9 7.5
Playcore Inc. 0.5 46.6 2.7 5.9

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Callaway Golf Co
Company Details

Industry Revenue (2024) $1.3bn

Industry Profit (2024) $68.2m
Total Employees (2024) 32,000
Industry Market Share (2024) 13.3%

Description
Callaway Golf Co is a public company headquartered in California with an estimated 32,000 employees. In
the US, the company has a notable market share in at least one industry: Athletic & Sporting Goods
Manufacturing, where they account for an estimated 12.8% of total industry revenue.

Brands and Trading Names

 Callaway Golf
 Jack Wolfskin
 Odyssey
 OGIO
 Topgolf Entertainment Group
 TravisMathew

Company’s Industry Revenue, Market Share, and Profit Margin Over Time
Year Industry Revenue ($ million) Market Share (%) Profit Margin (%)

2008 735 7.3 5.1

2009 604 7.3 5.1
2010 627 7.3 5.1
2011 647 7.3 5.1
2012 634 7.4 5.1
2013 641 7.4 5.1
2014 639 7.9 5.1
2015 633 8.1 5.1
2016 648 8.1 5.1
2017 749 9.4 7.5
2018 852 10.6 10.3
2019 979 11.7 7.8

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

2020 983 12.8 -6.6

2021 1229 13.3 6.5
2022 1407 14.8 6.4
2023 1388 14.0 5.5
2024 1339 13.3 5.1

What's impacting Callaway Golf Co's performance?

Topgolf Callaway Brands expands through acquisitions

 Topgolf Callaway Brands has reinforced its industry standing with strategic acquisitions. The 2017
OGIO and Travis Mathew purchase allowed them to venture into active lifestyle apparel, while the
2019 acquisition of Jack Wolfskin broadened their outdoor offerings. Their 2021 merger with
Topgolf, a leader in golf entertainment technology, marked a pivotal change, integrating
entertainment venues and innovative tools like Toptracer. These moves have diversified the
company's portfolio, aligning with its growth strategy and expanding consumer reach.

Innovation and technology drive golf equipment across

 Topgolf Callaway Brands has maintained its edge in the golf equipment sector by investing heavily
in innovation. By incorporating artificial intelligence in product design, innovative golf clubs and balls
offer tech-savvy solutions for all skill levels. Leveraging AI and diverse tech tools ensures their
products aren't just replications of traditional designs. This emphasis on cutting-edge technology
has helped retain its leadership status in a highly competitive market.

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Nike, Inc.
Company Details

Industry Revenue (2024) $1.3bn

Industry Profit (2024) $68.2m
Total Employees (2024) 79,400
Industry Market Share (2024) 13.3%

Description
Nike is a public company headquartered in Oregon with an estimated 79,400 employees. In the US, the
company has a notable market share in at least four industries: Athletic & Sporting Goods Manufacturing,
Footwear Wholesaling, Athletic Shoe Stores, Online Sporting Apparel Sales and Online Sporting Apparel
Sales. Their largest market share is in the Athletic Shoe Stores industry, where they account for an
estimated 48.2% of total industry revenue and are considered an All Star because they display stronger
market share, profit and revenue growth compared to their peers.

Brands and Trading Names

 Converse
 Exeter Brand Group
 Hurley international
 Nike Bauer Hockey

Other Industries
 Athletic Shoe Stores in the US
 Footwear Wholesaling in the US
 Online Sporting Apparel Sales in the US

Company’s Industry Revenue, Market Share, and Profit Margin Over Time
Year Industry Revenue ($ million) Market Share (%) Profit Margin (%)

2008 959 9.6 12.3

2009 789 9.5 12.3
2010 818 9.5 12.3
2011 845 9.5 12.3
2012 828 9.6 12.3
2013 837 9.6 12.3
2014 834 10.4 12.3

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2015 827 10.6 12.3

2016 847 10.6 12.3
2017 862 10.8 5.3
2018 867 10.7 10.3
2019 979 11.7 7.8
2020 983 12.8 -6.6
2021 1229 13.3 6.5
2022 1407 14.8 6.4
2023 1388 14.0 5.5
2024 1339 13.3 5.1

What's impacting Nike, Inc.'s performance?

Nike embraces digital shift and streamlines operations

 Nike has embraced digital transformation and streamlined its operations to stay competitive.
Investments in NIKE Direct operations, which include owned stores and digital sales, have been a
big focus. This has allowed Nike to reach consumers directly, cutting out middlemen. They’ve also
initiated an enterprise-wide restructuring to streamline the organization, resulting in a global
workforce reduction. These steps aim to realign resources, boost innovation and support long-term
growth.

Innovation and brand experience drive Nike's growth

 Nike has focused on innovation and delivering compelling brand experiences to maintain its market
leadership. Its "must-have" products have strengthened the brand, while investments in digital
platforms and touchpoints have deepened consumer connections. Offerings like the Jordan Brand
continue to bolster its portfolio. By continuously tapping into consumer insights and demand-sensing
technology, Nike honed its ability to predict and respond to consumer needs, reinforcing its unique
selling point of cutting-edge athletic products.

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Landscape Structures Inc.

Company Details

Industry Revenue (2024) $198.8m

Industry Profit (2024) $14.9m
Total Employees (2024) 550
Industry Market Share (2024) 2.0%

Description
Landscape Structures is a private company with an estimated 550 employees. In the US, the company has
a notable market share in at least one industry: Athletic & Sporting Goods Manufacturing, where they
account for an estimated 1.8% of total industry revenue.

Company’s Industry Revenue, Market Share, and Profit Margin Over Time
Year Industry Revenue ($ million) Market Share (%) Profit Margin (%)

2019 195 2.3 7.7

2020 191 2.5 3.7
2021 202 2.2 5.2
2022 199 2.1 7.5
2023 199 2.0 7.5
2024 199 2.0 7.5

What's impacting Landscape Structures Inc.'s performance?

Landscape continues to advance diversity and inclusivity at playgrounds

 In April 2022, Landscape announced the implementation of a Symbol Communication Sign to
expand inclusivity at playgrounds. The sign serves as a guide with pictures representing various
feelings, words and numbers that can help bring kids of different backgrounds together, with
additional input provided by experts in the Augmented and Alternative Communication (AAC) and
Inclusive Design organizations.

Product innovation boosts diverse consumer outreach for Landscape

 In February 2022, Landscape Structures Inc. (Landscape) announced the introduction of the Revi
Products stream. These products include the ReviRock Bouncer, ReviWheel Spinner and ReviWhirl
Spinner, with each product incorporating one sculptural form for three different play experiences.
Each product is geared for kids of different heights and enables different physical activities like
laying down, sitting or standing.

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

Playcore Inc.
Company Details

Industry Revenue (2024) $46.6m

Industry Profit (2024) $2.7m
Total Employees (2024) 2,000
Industry Market Share (2024) 0.5%

Description
Playcore is a public company headquartered in Wisconsin with an estimated 2,000 employees. In the US,
the company has a notable market share in at least three industries: Household Furniture Manufacturing,
Athletic & Sporting Goods Manufacturing, Playground & Park Equipment Manufacturing and Household
Furniture Manufacturing. Their largest market share is in the Playground & Park Equipment Manufacturing
industry, where they account for an estimated 17.8% of total industry revenue.

Brands and Trading Names

 AquaWorx
 Big Toys
 Colorado Time Systems
 Dero
 Everlast Climbing
 Fountain People
 Freenotes Harmony Park
 Frog Furnishings
 GameTime
 ICON Shelter Systems
 Play & Park Structures
 Playcraft Systems
 Porter Corp
 Power Systems
 Spectrum Aquatics
 UltraPlay
 UltraSite
 Water Odyssey
 Worlds of Wow

Other Industries
 Household Furniture Manufacturing in the US

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IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

 Playground & Park Equipment Manufacturing in the US

Company’s Industry Revenue, Market Share, and Profit Margin Over Time
Year Industry Revenue ($ million) Market Share (%) Profit Margin (%)

2016 39 0.5 5.9

2017 38 0.5 5.9
2018 37 0.5 5.9
2019 40 0.5 5.9
2020 40 0.5 5.9
2021 43 0.5 5.9
2022 47 0.5 5.9
2023 47 0.5 5.9
2024 47 0.5 5.9

You can view and download company details on my.ibisworld.com.

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External
Environment
Understand the demographic,
economic and regulatory factors
positively and negatively affecting the
industry.

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 IBISWorld | Athletic & Sporting Goods Manufacturing in the US Nov 2024

8. External Environment
https://my.ibisworld.com/us/en/industry/33992a/external-environment

Key Takeaways
 Safety standards are non-negotiable for manufacturers. Compliance with regulations like the
Consumer Product Safety Improvement Act is essential to avoid fines and recalls, ensuring
consumer trust and preventing injuries.
 Golf equipment must adhere to specific quality standards. The USGA and R&A set guidelines
that influence product design to ensure consistent play quality across various markets worldwide.
 Sports participation trends are driving equipment demand. As more people dive into activities
like hockey and scuba diving, manufacturers are seeing a boost in equipment sales.

External Drivers
What demographic and macroeconomic factors impact the industry?

Trends in sports participation influence demand for different types of sporting equipment. While a rise in the
number of consumers participating in sports supports demand for manufacturers, changing consumer
preferences for certain sports can also affect demand. As more consumers participate in equipment-
intensive sports, like hockey and scuba diving, revenue will reap the benefits of more equipment sales.
Rising participation in sports represents a potential opportunity for manufacturers.

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Sporting goods retailers are manufacturers' main market. While their level of specialization determines their
demand for sporting goods, many sports retailers still require a wide range of goods to meet changing
consumer needs and preferences. Many manufacturers choose to work directly with sports stores, enabling
them to meet changes in sporting trends.

Imports account for a significant portion of the industry's domestic demand, causing exchange rate
fluctuations to influence imports' share of the market. When the dollar strengthens, imported sporting goods
become relatively less costly for domestic consumers, which increases demand for foreign-made products.
On the other hand, a weakening dollar makes imported products comparatively more expensive in the
global market, supporting demand for US manufacturers both domestically and overseas.

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Industry manufacturers are key suppliers of sporting and athletic goods to department stores. Heightened
demand for sporting and athletic goods at the retail level bodes well for this industry, which is reflected in a
rise in the volume of product orders. Falling demand from department stores representing a potential threat
to the industry.

Domestic manufacturers of sporting and athletic goods have experienced increasing competition over the
past five years. Lower operating costs overseas have enabled import penetration to rise consistently. The
growth in the volume of sporting goods imported to the United States from foreign countries like China has
negatively affected profit and revenue.

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Regulation & Policy

Moderate Steady

What regulations impact the industry?

Product Safety Standards and Consumer Protection

Athletic and sporting goods manufacturers are subject to stringent safety regulations. The Consumer
Product Safety Improvement Act also restricts products for children under 12 and mandates tests for
hazardous substances. Non-compliance risks hefty fines and recalls, as seen with major toy brand
infractions. For example, helmets must comply with standards set by the Consumer Product Safety
Commission and undergo tests for durability and integrity. Compliance is crucial to prevent injuries, avoid
recalls and build consumer trust.

Quality Standards
Golf clubs and balls are governed by regulations from the US Golf Association (USGA) and the Royal and
Ancient Golf Club of St. Andrews (R&A). These standards ensure consistent play quality across
jurisdictions. Compliance with USGA guidelines is crucial in the United States, Canada, and Mexico; with
many global leagues following these regulations, R&A's rules influence product design in international
markets.

Environmental Regulations
The Clean Air Act and Clean Water Act set benchmarks for air and water quality in athletic goods
production. Manufacturing processes must limit emissions and pollutant discharge, pushing companies to
adopt eco-friendly practices. Manufacturers need to secure permits and manage waste efficiently, which
increases operational costs but enhances environmental responsibility.

Occupational Safety and Health Act

The Occupational Safety and Health Act (OSHA) mandates safety in manufacturing settings, including
those for sporting goods. Companies must limit noise and dust exposure and ensure safe machinery use.
Investing in improvements like ventilation and soundproofing makes athletic and sporting goods
manufacturing facilities a safer and more productive work environment.

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Assistance

Low Steady

What assistance is available to this industry?

Tariffs
To combat lower operating costs from overseas, the US government has implemented multiple tariffs.
Since manufacturers produce multiple athletic products, tariffs range from 0.0% to 5.6% for badminton
rackets. Tariffs vary based on the specific product and are higher for countries without trade relationships
with the United States.

Section 301
The US government imposed protectionary tariffs on Chinese manufacturers to further protect and promote
domestic production. Under Section 301 of the U.S. Trade Act of 1974, protective tariffs have been
implemented on a range of Chinese products, including skis, golf equipment and fishing products, among
other athletic and sporting goods. The additional 7.5% tariff aims to diminish foreign competition,
encouraging local production and fostering a healthier environment for domestic production.

National Association of Manufacturers (NAM)

NAM offers assistance to athletic and sporting goods manufacturers through advocacy, policy development
and workforce enhancement initiatives. NAM's lobbying efforts aim to secure favorable trade agreements
and tax policies to make domestic producers more competitive. Through workforce training programs, NAM
helps address skill gaps, ensuring that manufacturers have access to qualified personnel.

National Sporting Goods Association (NSGA)

The NSGA supports sporting goods manufacturers by providing industry news, research and insights on
new products to manufacturers, wholesalers and retailers. Educational programs and networking events
facilitate access to the global market. Furthermore, the NSGA advocates for policies that help businesses
perform competitively by ensuring favorable regulations, which fosters growth.

Sports and Fitness Industry Association (SFIA)

SFIA offers crucial support to the athletic and sporting goods manufacturing sector through research, trade
show organization and lobbying. By advocating for higher sports participation, SFIA helps expand market
opportunities. Its research offers insights into consumer trends, aiding companies in strategic decision-
making. Trade shows foster networking and business growth while lobbying ensures the industry's interests
are represented in policy discussions, enhancing overall competitiveness.

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Financial
Benchmarks
Understand average costs for
industry operators and compare
financial data against key ratios and
financial benchmarks broken down by
business size.

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9. Financial Benchmarks
https://my.ibisworld.com/us/en/industry/33992a/financial-benchmarks

Profit Margin Average Wage Largest Cost

7.5 % $59,091 Purchases

↑ Higher than sector ↓ Lower than sector 41.2% of Revenue

Key Takeaways
 The need for consistent innovation keeps wage costs high. Despite the push for automation,
skilled labor is crucial for research and development, pushing companies to offer competitive
salaries to attract and retain talent.
 Purchase costs are climbing because of volatile input prices. Supply chain disruptions and
global inflation are driving up the cost of inputs, leaving manufacturers unable to pass these hikes
on to price-sensitive consumers.

Cost Structure

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Chart displays current year only in the PDF version of this report. You can view and download
chart for all other years associated with this industry on my.ibisworld.com.

What trends impact industry costs?

Rising operating expenses weaken profit

 The consistently high costs of producing sporting goods and athletic apparel dampened industry
profitability, particularly as supply chain disruptions, ongoing socio-political conflicts and changes in
demand slowed down production.
 Prominent competition from foreign manufacturers also affected profitability. Heightened price-
based competition prevents producers from efficiently passing down cost increases to buyers,
driving purchase costs higher and squeezing profit.
 Unfavorable macroeconomic conditions in recent years, largely during the initial hit of the pandemic,
caused manufacturers' profit to shrink amid lower demand for contact sports gear. However, profit
bounced back as sports participation jumped amid the economy reopening and consumers feeling
more confident.

Innovation needs lead to high wage costs

 Heavy investment in automated production processes and technologies has boosted operational
efficiencies, causing wage costs to inch downward. Despite this, most current production facilities
continue to require physical labor to produce sporting goods and athletic apparel.
 Research and development efforts require highly skilled employees. Since new product
development is the industry's main driver, manufacturers must invest heavily in securing
knowledgeable workers and keeping wages high.

Input price volatility fuels high purchase expenses

 The largest costs for manufacturers are acquiring and maintaining favorable supplier contracts for
raw goods like plastic, leather, aluminum and many other commodities necessary in the production
process.
 Multiple factors have contributed to rising purchase costs. These include severe supply chain
disruptions, which are enhanced by global inflation, fractured shipping routes and volatile input
prices, making buying inputs comparatively more expensive.
 Producers often raise selling prices to minimize profit losses. However, heightened price sensitivity,
driven by significant import penetration, prevents manufacturers from charging higher prices and
pushes purchase costs higher.

Heightened transportation and administrative costs persist within the industry

 In addition to dealing with high purchase costs and persistent wage expenditures, manufacturers
must also contend with administrative, transportation and insurance costs. There has also been
additional emphasis on research and development expenditures.
 Many industry manufacturers have to invest capital to keep up with the latest consumer trends,
while also maintaining consistent shipping agreements and insurance policies on the production

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facilities themselves.

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Financial Ratios
Industry Multiples
Ratio 2018 2019 2020 2021 2022 3-Year 5-Year 10-Year

EBIT/Revenue 11.9 12.4 12.1 8.8 8.6 9.8 10.8 11.8

EBITDA/Revenue 16.3 17.1 16.6 12.7 12.3 13.9 15.0 16.3
Leverage Ratio 7.7 5.8 6.0 7.9 8.2 7.4 7.1 6.8

Industry Tax Structure

Ratio 2018 2019 2020 2021 2022 3-Year 5-Year 10-Year

Taxes Paid/Revenue 4.0 4.2 4.4 3.4 2.5 3.4 3.7 4.1

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Income Statement
Ratio 2018 2019 2020 2021 2022 3-Year 5-Year 10-Year

Total Revenue 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
Business receipts 94.2 94.0 93.6 57.7 61.4 70.9 80.2 87.0
Cost of goods 42.0 42.2 42.0 44.7 50.9 45.9 44.4 43.0
Gross Profit 58.0 57.8 58.0 55.3 49.1 54.1 55.6 57.0
Expenses
Salaries and wages 12.6 13.2 12.9 8.4 7.1 9.5 10.8 12.5
Advertising 2.7 2.9 2.9 2.1 1.5 2.2 2.4 2.8
Depreciation 2.9 2.9 3.3 2.9 2.5 2.9 2.9 3.0
Depletion 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Amortization 1.5 1.8 1.2 1.0 1.1 1.1 1.3 1.6
Rent paid 3.6 3.8 4.0 3.8 3.3 3.7 3.7 4.0
Repairs 0.4 0.3 0.2 0.3 0.2 0.3 0.3 0.3
Bad debts 1.6 2.3 2.2 1.8 1.3 1.8 1.8 2.0
Employee benefit programs 2.4 2.5 2.4 1.3 2.7 2.1 2.2 2.4
Compensation of officers 3.2 3.5 3.4 1.9 2.5 2.6 2.9 3.3
Taxes paid 4.0 4.2 4.4 3.4 2.5 3.4 3.7 4.1
Interest Income 2.8 3.2 3.6 3.5 1.8 3.0 3.0 3.2
Other Income
Royalties 2.9 3.3 3.3 0.3 0.3 1.3 2.0 2.8
Rent Income 0.1 0.2 0.1 0.2 0.2 0.1 0.1 0.2
Net Income 4.9 5.2 4.2 3.3 3.5 3.7 4.2 4.7

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Balance Sheet
Ratio 2018 2019 2020 2021 2022 3-Year 5-Year 10-Year

Assets
Cash and Equivalents 4.3 4.8 3.9 4.4 4.2 4.2 4.3 3.6
Notes and accounts receivable 32.2 34.3 32.4 18.0 17.6 22.7 26.9 24.4
Allowance for bad debts 0.4 0.4 0.3 0.7 0.6 0.5 0.5 0.5
Inventories 18.1 21.5 20.9 13.1 11.2 15.1 17.0 17.2
Other current assets 7.1 7.9 6.7 6.4 6.5 6.5 6.9 6.7
Other investments 10.7 11.6 15.2 8.5 9.6 11.1 11.1 10.2
Property, Plant and Equipment 20.0 14.4 12.7 19.6 18.6 17.0 17.1 18.8
Accumulated depreciation 5.0 16.4 16.4 5.0 4.6 8.6 9.5 10.0
Intangible assets (Amortizable) 29.9 3.1 21.7 28.5 27.8 26.0 22.2 23.2
Accumulated amortization 3.1 5.3 4.6 4.0 3.7 4.1 4.1 3.6
Other assets 0.2 0.3 5.9 2.6 2.7 3.7 2.3 2.5
Total assets 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
Accounts payable 16.3 22.3 11.4 11.3 10.9 11.2 14.5 13.7
Liabilities and Net Worth
Mort, notes, and bonds under 1 yr 23.4 27.8 28.6 14.5 13.6 18.9 21.6 22.3
Other current liabilities 7.8 12.2 11.4 10.5 10.4 10.8 10.4 8.8
Loans from shareholders 8.0 8.6 9.1 11.5 10.2 10.3 9.5 8.8
Mort, notes, bonds, 1 yr or more 37.4 35.4 28.3 18.0 20.3 22.2 27.9 33.8
Other liabilities 6.6 2.0 15.1 6.3 6.5 9.3 7.3 8.1
Total liabilities 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
Capital stock 1.3 3.6 3.9 3.0 3.1 3.4 3.0 3.2
Additional paid-in capital 22.9 24.4 21.5 25.1 25.0 23.9 23.8 19.8
Retained earnings, appropriated 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Retained earnings-unappropriated 12.4 16.2 14.9 11.6 12.3 12.9 13.5 13.4
Cost of treasury stock 10.2 10.5 9.7 5.5 6.4 7.2 8.5 8.7
Net worth 7.0 7.3 7.0 8.8 9.6 8.5 7.9 7.8

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Liquidity Ratios
Ratio 2018 2019 2020 2021 2022 3-Year 5-Year 10-Year

Current Ratio 1.4 1.2 1.3 1.3 1.3 1.3 1.3 1.3
Quick Ratio 1.0 0.9 0.9 0.9 0.9 0.9 0.9 0.9
Sales/Receivables 2.5 2.9 3.1 5.6 5.7 4.8 3.9 4.2
Days' Receivables 147.6 125.2 118.3 65.7 64.1 82.7 104.2 97.1
Days' Inventory 198.0 185.7 181.7 107.2 80.6 123.1 150.6 161.4
Inventory Turnover 1.8 2.0 2.0 3.4 4.5 3.3 2.8 2.5
Payables Turnover 2.0 1.9 3.7 3.9 4.7 4.1 3.2 3.2
Days' Payables 178.2 193.1 98.9 92.6 78.3 89.9 128.2 126.9
Sales/Working Capital 2.2 2.8 2.2 2.8 3.3 2.8 2.7 3.0

Coverage Ratios
Ratio 2018 2019 2020 2021 2022 3-Year 5-Year 10-Year

Interest Coverage 3.9 4.0 3.5 4.2 3.2 3.6 3.7 3.9
Debt Service Coverage Ratio 5.6 5.7 5.4 1.8 1.7 3.0 4.0 7.9

Leverage Ratios
Ratio 2018 2019 2020 2021 2022 3-Year 5-Year 10-Year

Fixed Assets/Net Worth 10.0 7.3 10.0 6.9 6.0 7.6 8.0 8.6
Debt/Net Worth 14.4 13.8 14.2 11.4 10.4 12.0 12.8 12.9
Tangible Net Worth 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1

Operating Ratios
Ratio 2018 2019 2020 2021 2022 3-Year 5-Year 10-Year

Return on Net Worth, % 136.2 171.2 172.4 100.6 89.7 120.9 134.0 140.6
Return on Assets, % 9.5 12.4 12.1 8.8 8.6 9.8 10.3 10.7
Sales/Total Assets 0.8 1.0 1.0 1.0 1.0 1.0 1.0 0.9
EBITDA/Revenue 16.3 17.1 16.6 12.7 12.3 13.9 15.0 16.3
EBIT/Revenue 11.9 12.4 12.1 8.8 8.6 9.8 10.8 11.8

Cash Flow & Debt Service Ratios (% of sales)

Ratio 2018 2019 2020 2021 2022 3-Year 5-Year 10-Year

Cash from Trading 64.0 51.1 67.6 48.7 50.9 55.8 56.5 58.3
Cash after Operations 39.0 30.8 44.6 31.6 36.0 37.4 36.4 35.6
Net Cash after Operations 35.0 24.5 40.9 27.8 34.5 34.4 32.6 31.1
Debt Service P&I Coverage 1.0 0.7 1.1 1.4 1.8 1.4 1.2 1.0

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Interest Coverage (Operating Cash) 11.4 7.9 11.7 13.2 12.9 12.6 11.4 10.3

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Key Ratios

Year Revenue Revenue Employees Employees Average Wages/ Estab. per IVA/ Imports/ Exports/
per per per Estab. per Ent. Wage Revenue Enterprise Revenue Demand Revenue
Employee Enterprise (Units) (Units) ($) (%) (Units) (%) (%) (%)
($) ($ Million)

2005 345,831 9.5 26.7 27.4 57,707 16.7 1.0 23.6 33.5 14.8
2006 380,685 10.1 25.8 26.7 59,560 15.6 1.0 22.0 34.6 14.7
2007 372,410 9.5 24.7 25.6 57,908 15.5 1.0 23.0 37.6 15.9
2008 377,325 10.0 25.5 26.5 58,857 15.6 1.0 20.0 37.1 16.4
2009 364,542 8.5 22.4 23.3 60,411 16.6 1.0 22.8 36.9 15.4
2010 392,945 8.7 21.4 22.1 62,787 16.0 1.0 23.7 39.1 15.0
2011 412,984 8.9 20.8 21.5 61,741 14.9 1.0 21.6 39.2 14.1
2012 373,016 8.8 22.7 23.6 60,225 16.1 1.0 23.0 43.3 16.5
2013 398,790 8.6 20.8 21.5 63,533 15.9 1.0 24.3 42.9 15.8
2014 389,949 8.2 20.4 21.1 60,764 15.6 1.0 24.0 44.9 16.4
2015 379,289 8.0 20.5 21.2 62,219 16.4 1.0 24.3 46.9 15.5
2016 394,424 8.3 20.2 21.0 64,966 16.5 1.0 24.2 44.2 14.6
2017 344,574 7.9 22.1 23.0 61,001 17.7 1.0 22.9 45.9 15.3
2018 345,268 8.0 22.2 23.0 58,695 17.0 1.0 25.9 46.6 15.5
2019 354,185 8.3 22.5 23.4 58,961 16.6 1.0 25.8 46.7 15.4
2020 346,692 7.8 21.6 22.5 57,853 16.7 1.0 21.9 48.1 14.7
2021 367,253 8.9 23.4 24.3 59,286 16.1 1.0 22.9 52.7 16.1
2022 362,035 8.8 23.3 24.2 59,116 16.3 1.0 25.3 55.1 17.1
2023 362,710 8.9 23.6 24.4 59,135 16.3 1.0 25.3 45.4 14.4
2024 361,409 8.9 23.7 24.6 59,091 16.4 1.0 25.4 44.7 13.8
2025 363,313 9.0 23.9 24.8 59,154 16.3 1.0 25.3 44.4 13.9
2026 365,642 9.2 24.1 25.1 59,230 16.2 1.0 25.3 43.8 14.1
2027 367,083 9.3 24.3 25.3 59,278 16.1 1.0 25.2 43.5 14.2
2028 367,635 9.4 24.5 25.5 59,295 16.1 1.0 25.2 43.2 14.3
2029 368,995 9.5 24.6 25.7 59,338 16.1 1.0 25.2 42.9 14.4
2030 369,469 9.5 24.7 25.8 59,353 16.1 1.0 25.2 42.8 14.4
*Figures are inflation adjusted to 2024

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Key Statistics
Discover 14 years of historical,
current and forward-looking industry
performance data in table format.

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10. Key Statistics

https://my.ibisworld.com/us/en/industry/33992a/key-statistics

Industry Data
Values
Year Revenue IVA Establishments Enterprises Employment Exports Imports Wages
($ Million) ($ Million) (Units) (Units) (Units) ($ Million) ($ Million) ($ Million)

2005 15,300.3 3,608.8 1,660 1,613 44,242 2,268.3 6,569.6 2,553.1

2006 15,914.2 3,508.4 1,622 1,568 41,804 2,333.3 7,188.0 2,489.8
2007 14,759.4 3,402.0 1,607 1,548 39,632 2,339.4 7,473.0 2,295.0
2008 14,178.7 2,835.6 1,471 1,417 37,577 2,324.9 6,978.9 2,211.7
2009 11,650.0 2,653.0 1,429 1,373 31,958 1,791.2 5,765.5 1,930.6
2010 11,984.8 2,837.8 1,427 1,377 30,500 1,799.7 6,552.9 1,915.0
2011 12,168.2 2,634.3 1,415 1,370 29,464 1,715.5 6,725.1 1,819.1
2012 11,495.2 2,649.1 1,355 1,305 30,817 1,895.5 7,334.9 1,856.0
2013 11,428.1 2,780.6 1,379 1,330 28,657 1,804.8 7,243.4 1,820.7
2014 10,419.8 2,499.0 1,312 1,266 26,721 1,706.2 7,094.3 1,623.7
2015 10,031.4 2,438.1 1,290 1,248 26,448 1,553.2 7,483.5 1,645.6
2016 10,173.8 2,459.1 1,275 1,230 25,794 1,487.9 6,883.4 1,675.7
2017 9,972.7 2,284.0 1,312 1,261 28,942 1,520.9 7,160.3 1,765.5
2018 9,853.3 2,552.0 1,288 1,239 28,538 1,526.2 7,269.0 1,675.0
2019 10,032.3 2,586.0 1,260 1,212 28,325 1,546.8 7,441.7 1,670.1
2020 9,121.1 1,993.5 1,220 1,171 26,309 1,342.1 7,223.2 1,522.0
2021 10,492.4 2,397.8 1,219 1,174 28,570 1,690.4 9,810.5 1,693.8
2022 10,074.0 2,550.7 1,192 1,150 27,826 1,722.5 10,269.1 1,645.0
2023 10,150.4 2,568.1 1,188 1,145 27,985 1,463.5 7,230.8 1,654.9
2024 10,086.2 2,558.0 1,178 1,135 27,908 1,394.4 7,021.7 1,649.1
2025 10,168.4 2,572.0 1,171 1,127 27,988 1,415.8 6,980.3 1,655.6
2026 10,311.1 2,604.5 1,169 1,123 28,200 1,455.5 6,889.2 1,670.3
2027 10,399.1 2,623.9 1,165 1,119 28,329 1,477.7 6,859.0 1,679.3
2028 10,495.6 2,647.2 1,165 1,118 28,549 1,501.5 6,832.3 1,692.8
2029 10,592.0 2,668.7 1,165 1,117 28,705 1,525.8 6,803.4 1,703.3
2030 10,650.3 2,682.6 1,165 1,117 28,826 1,537.8 6,809.8 1,710.9

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*Figures are inflation adjusted to 2024

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Annual Change
Year Revenue IVA Establishments Enterprises Employment Exports Imports Wages
% % % % % % % %

2005 N/A N/A N/A N/A N/A N/A N/A N/A

2006 4.0 -2.8 -2.3 -2.8 -5.5 2.9 9.4 -2.5
2007 -7.3 -3.0 -0.9 -1.3 -5.2 0.3 4.0 -7.8
2008 -3.9 -16.7 -8.5 -8.5 -5.2 -0.6 -6.6 -3.6
2009 -17.8 -6.4 -2.9 -3.1 -15.0 -23.0 -17.4 -12.7
2010 2.9 7.0 -0.1 0.3 -4.6 0.5 13.7 -0.8
2011 1.5 -7.2 -0.8 -0.5 -3.4 -4.7 2.6 -5.0
2012 -5.5 0.6 -4.2 -4.7 4.6 10.5 9.1 2.0
2013 -0.6 5.0 1.8 1.9 -7.0 -4.8 -1.2 -1.9
2014 -8.8 -10.1 -4.9 -4.8 -6.8 -5.5 -2.1 -10.8
2015 -3.7 -2.4 -1.7 -1.4 -1.0 -9.0 5.5 1.3
2016 1.4 0.9 -1.2 -1.4 -2.5 -4.2 -8.0 1.8
2017 -2.0 -7.1 2.9 2.5 12.2 2.2 4.0 5.4
2018 -1.2 11.7 -1.8 -1.7 -1.4 0.4 1.5 -5.1
2019 1.8 1.3 -2.2 -2.2 -0.7 1.3 2.4 -0.3
2020 -9.1 -22.9 -3.2 -3.4 -7.1 -13.2 -2.9 -8.9
2021 15.0 20.3 -0.1 0.3 8.6 25.9 35.8 11.3
2022 -4.0 6.4 -2.2 -2.0 -2.6 1.9 4.7 -2.9
2023 0.8 0.7 -0.3 -0.4 0.6 -15.0 -29.6 0.6
2024 -0.6 -0.4 -0.8 -0.9 -0.3 -4.7 -2.9 -0.3
2025 0.8 0.5 -0.6 -0.7 0.3 1.5 -0.6 0.4
2026 1.4 1.3 -0.2 -0.4 0.8 2.8 -1.3 0.9
2027 0.9 0.7 -0.3 -0.4 0.5 1.5 -0.4 0.5
2028 0.9 0.9 0.0 -0.1 0.8 1.6 -0.4 0.8
2029 0.9 0.8 0.0 -0.1 0.5 1.6 -0.4 0.6
2030 0.6 0.5 0.0 0.0 0.4 0.8 0.1 0.4

*Figures are inflation adjusted to 2024

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