2024 China Sports Goods Industry Prosperity Index Report

2024 China Sports Goods Industry Prosperity Index Report: Steady Growth with Significant Variations Among Segments

Recently, the China Sporting Goods Federation released the 2024 Sports Goods Industry Prosperity Index. The report indicates overall industry stability and strong optimism among entrepreneurs for the future.

Overall Industry Stability and Rising Confidence

In 2024, the Composite Prosperity Index stood at 143.8, within the "relatively prosperous" range (120-150). The Current Prosperity Index was 133.7, reflecting good business operations, while the Expected Prosperity Index surged to 150.5, signifying stronger optimism for 2025.

The Entrepreneurs' Confidence Index rose to 128.2, up 7.4 points from 2023, maintaining a "relatively confident" rating (120-150). Entrepreneurs have particularly positive expectations for policy environment improvements and increasing market demand.

Enterprise Scale: Large & Medium-sized Enterprises Lead, SMEs Show Resilience

• Large & Medium-sized Enterprises: Prosperity Index at 154.5 (Strong Prosperity), significantly higher than SMEs.

• Small & Micro Enterprises: Prosperity Index at 140.0 (Relatively Prosperous), highlighting market resilience despite limited resources.

Table 1: Prosperity Index by Enterprise Scale (2024)

SMEs exhibited strength in anticipated orders and employment indices (136.6 each), surpassing the industry average. However, SMEs lag in fixed asset investment with an Expected Investment Index of 121.4, significantly lower than large and medium enterprises (139.2).

Segment Variations: Fitness Equipment Dominates, Sports Flooring Faces Challenges

Fitness Equipment Segment:

• Prosperity Index: 152.9

• Entrepreneurs' Confidence Index: 141.8

• Key growth drivers: Continuous demand for home fitness equipment and recovering commercial gyms.

Sports Flooring & Equipment Segments:

• Sports Flooring Prosperity Index: 120.0; Confidence Index: 109.2, reflecting industry challenges.

• Sports Equipment Confidence Index: 100.0, indicating neutral outlook due to limited growth opportunities.

Ball Sports Products:

• Prosperity Index: 143.2

• Confidence Index: 128.4

• Stability driven by growing popularity of niche sports among younger demographics.

Detailed Indices by Segment

Table 2: Detailed Prosperity and Confidence Indices by Segment (2024)

Individual Indices: Orders & Employment Optimistic, Investment Uneven

Table 3: Expected Orders and Employment Indices (2024)

Large enterprises significantly outperform SMEs in expected orders:

• Large & Medium-sized: 149.0

• Small & Micro: 136.6

Table 4: Expected Fixed Asset Investment by Segment (2024)

Sports Flooring notably lags, reflecting pessimism about future investments and potential contraction.

Conclusion

Overall, the Chinese sports goods industry is experiencing steady growth with rising entrepreneurial optimism. However, significant disparities exist between different business scales and segments, necessitating strategic focus, particularly in investment and innovation.

Source: China Sporting Goods Federation