March 24, 2021
Many startup entrepreneurs look forward to making a profit by manufacturing sporting products. Indeed, over the past several years, China’s Sports&Fitness Industry has received an encouraging result. Wavar, headquartered in Shijiazhuang, sticks to provide a wide range of products in the field of fitness and commits to being a professional fitness equipment manufacturer and exporter. And we can foresee a bright future in the following analysis.
In 2016, the whole scale of the fitness equipment market reached $56.5 billion, sales revenue was $22.78 billion, increased by over 10%, the export value was $16.17 billion. China was also the biggest supplier of sports products and equipment to Europe, accounting for 38% of the total importers of the Union. According to Statista from 2011 to 2016, the export value of China’s sporting goods has shown a relatively stable development in recent years. The year 2015 got another breakthrough, reaching $19.54 billion. (See table below)
China produced up to 60% in 2016, 53% in 2017 of the world’s fitness equipment. China’s suppliers are mostly located in the south-east coastal regions where they specialize in producing various goods for different sport usages such as playing sport, player equipment, and training equipment. Some of them are the biggest suppliers in the global fitness industry. They can provide both OEM and ODM, and deal with large and small volume orders required by customers. Due to the lower labor and plant costs, many overseas customers outsource in this country. What’s more, China’s superior logistics are really highlighted to support export trade. The mature supply chain by sea, air, and rail can assure a convenient and fast delivery to the destination, as well as with automated notifications to delays, disruptions, and quick response to any damage.
From 2010 to 2017, China’s Sports& Fitness market scale has widened steadily. (See table below)
China’s e-commerce has exploded in recent years. In order to support its development, China has constantly optimized platforms, logistics, payment channels, and introduced new regulations and laws to meet new demands of e-commerce fast development. To answer the call of the Chinese government, a special combination of the Internet and the industrial park has sprouted in many cities. The emerge is not only a need for China to optimize its economic model, but also stimulate its export and import trade effectively. In 2019, according to a report, under the hit of Covid-19, the total size of the e-commercial market reached $1.6 trillion, increasing by 16.6% compared with the year of 2018, and trading volume was $116 billion at home and abroad, the value of exporting sports and fitness equipment was $19.1 billion. For future development of e-commerce, it is also promising.
Back to the domestic environment, the number of gyms has surged from 500 in 2001 to about 500,000 by the end of 2019. Based on the above background analysis and combining digitization, the sports&fitness equipment industry will make new breakthroughs in the near future.