The sports equipment market is poised for substantial growth over the coming years, attributed to the growing trend among consumers of prioritising health and wellness since the outbreak of Covid-19.
Mr Kitti Charoenpornpanichkul, president of the Thailand Sporting Trade Association, said the domestic sports equipment market was valued at roughly 30 billion baht last year, far greater than the 25 billion baht recorded before the pandemic in 2019.
Sales of sports equipment in 2023 were driven by increasing consumer awareness regarding the importance of physical fitness and the adoption of active lifestyles since the outbreak of the pandemic, with sports shoes making up half the sales.
Mr Kitti said the value of the sports equipment market is expected to reach 32 billion baht this year, up 8%.
"The market will be driven by the increasing number of senior citizens participating in sports, recreation and leisure activities, and the growing number of youth academies," Mr Kitti said.
In addition, the increasing number of people arriving in the country for sports tourism activities resulted in an increase in spending on sports equipment.
"I believe if Thailand does not face an economic slowdown, the sports equipment market will grow by more than 8%," Mr Kitti said.
Mr Kitti said the trend for fitness following lockdown changed as people became more concerned about public health and safety, and sought convenient ways to keep active and maintain their health without needing to visit fitness centres or sports facilities, which further fuelled the demand for home sports equipment.
Fewer gym utilisation rates induce the fitness business operators to adjust their business models. Some reduce the amount of exercise equipment, which adds more space for personal or group training, Mr Kitti said.
Suzanne Hosley, chief executive of Fitness Innovations (Thailand) Ltd, an education and training centre for fitness professionals, said the fitness industry in the second half of this year would improve, with some areas surpassing the level recorded before the pandemic.
Fitness Innovations (Thailand) will host the Asia Fitness Conference 2024, an inspiring and educational event that provides updates on fitness knowledge, trends and innovations.
With the event expected to attract over 1,200 fitness enthusiasts, professionals and leading industry brands from over 30 countries, it will provide an opportunity for fitness professionals to enhance their professional skills and elevate fitness standards in Asean countries as well as providing opportunities to network with key industry personnel, fostering business development within the fitness industry.
The conference is scheduled to take place between Oct 18-21, 2024 at Bitec Bangna.