Sports Industry Growth Rate Surpasses GDP For Only Fourth Time in 15 Years, Despite Being Lowest Growth Since the Pandemic
(May 1, 2025) – The Sports & Fitness Industry Association (SFIA) has released the 2025 State of the Industry Report, highlighting 2.9% industry growth, favorable profitability trends, and an optimistic view on the future of the industry. The annual report features in-depth analysis of the trends and issues affecting the sports and fitness products business, including participation, economic performance, and the industry environment. Please note that the data for this report was collected in 2024, prior to the implementation of further tariffs.
The sporting goods industry experienced a 2.9% growth in 2024, surpassing the U.S. GDP growth rate of 2.8%. While this number is the industry’s lowest growth rate since the pandemic, this is just the fourth time in 15 years that the growth rate was higher than GDP, which still signifies a positive indicator of the strength and resiliency of the sports industry.
In 2024, 65% of companies reported increased profitability – the highest percentage the industry has seen in the past decade. This strong financial performance demonstrates the industry’s ability to adapt and thrive in a shifting economic environment.
At the time of the survey, 96% of industry executives rated the state of the industry as strong or average, with only 4.1% indicating it was weak – the lowest percentage in six years. The performance of the sporting goods industry highlights its enduring strength as a vital force in driving the economy. As for 2025 and beyond, 99% of executives expressed confidence in the future state of the industry at the time of the survey.
“The 2025 State of the Industry Report underscores the remarkable adaptability of the sports and fitness industry,” said Alex Kerman, Senior Director and Head of Research, SFIA. “Surpassing GDP growth and achieving record-high profitability levels, the industry continues to demonstrate that it can thrive as an economic powerhouse. The optimism expressed by industry executives for the future reflects the enduring strength and vitality of this sector, but does reflect sentiment prior to the 2025 tariff actions.”
In 2024, activity rates rose across all income levels, with lower-income groups growing at a faster pace. However, inequalities still exist, as 87.3% of individuals in the highest income group ($100k+) were active, compared to just 63.2% in the lowest income group (Under $25K). While progress has been made, significant disparities still persist.
Despite the strong performance of the industry, challenges remain as we move through 2025. The top concern for industry executives in 2024 was tariffs, which have already posed significant challenges and uncertainty for many sports and fitness companies and organizations as we head towards the second half of 2025. After tariffs, the concerns that followed included increasing market share, slower consumer spending, and inflation. Seven of the top eight concerns were tied to the economy, supply chain, or tariffs, most of which are influenced by government policies.
The State of the Industry Report is free to SFIA Members and is available to the public for purchase by clicking here for $750.
This report is provided free of charge to members of the media. If you are interested in a copy of this report or an interview with an SFIA representative, please contact Lisa Futterman at [email protected].
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ABOUT SFIA: The Sports & Fitness Industry Association (SFIA), the #1 source for sport and fitness research, is the leading global trade association of manufacturers, retailers, and marketers in the sports products and fitness industry. SFIA seeks to promote sports and fitness participation, as well as industry vitality through research, thought leadership, public affairs, industry affairs, and member services. For more information, please visit sfia.org.