The global sporting goods industry contributes an estimated $675 billion to GDP annually and supports 28 million jobs, according to a new economic impact assessment by the World Federation of the Sporting Goods Industry (WFSGI) and Oliver Wyman. Titled, The Industry that Moves the World, the report values the wider sports economy at $2.3 trillion, with the market projected to reach $3.7 trillion by 2030.

Apparel and technical innovation remain central to growth

The industry generates around $614 billion in annual revenue across value chains spanning 62 manufacturing countries and 210 consumer markets. Sports-related patent filings have increased at an average 7.6 per cent annually over the past decade, more than 70 per cent faster than overall patenting, highlighting continued investment in technical products, materials and performance solutions.

Trade costs put pressure on global supply chains

The report identifies trade policy as a key industry concern. Sporting goods face an average applied tariff of 14.1 per cent, compared with 5.2 per cent across traded goods, reflecting the multi-country sourcing of technical materials, components and finished products. The industry generated an estimated $120 billion in direct tax revenue annually, rising to about $230 billion when supply-chain and wage effects are included.

WFSGI is the global trade association representing sporting goods brands, manufacturers, retailers and related organisations. Its membership covers companies accounting for about 70% of global sporting goods turnover. Founded in 1978, the federation works across business, policy and sport, with its current agenda focused on industry growth, physical activity and responsible business.