It will feature 450 booths across four sectors, including health and fitness, outdoor and leisure, sporting goods and facilities and sportswear.

The event is poised to play a pivotal role in the country's sports economy. Serving as a comprehensive platform, it will showcase the latest advancements in sports equipment, technology and services, attracting a diverse array of businesses, investors and sports enthusiasts from around the world.

People at a sport show in Vietnam

Seminars will be held within the framework of the exhibition, aiming to help businesses gather in-depth information from industry experts on market trends, sustainability and emerging technologies in the sports and entertainment industry as well as how to maintain a healthy lifestyle.

According to a report from Statista, the global sports equipment market generated a revenue of 43.72 billion USD in 2023. It is projected to grow at a compounded annual rate (CAGR) of 6.35% between 2024 and 2028, it said. Statista also indicated that the sports equipment market in Southeast Asia has a CAGR of 6.45%, surpassing the global average.

There are currently nearly 4,000 gym facilities, thousands of swimming pools and artificial turf fields in Vietnam. People are increasingly engaging in a variety of sports disciplines, spending more on equipment, attire and especially outdoor sports and recreational activities such as golf, cycling, rowing and adventure sports.

According to a report by Ken Research, from 2018 to 2023, the Vietnamese sports and fitness market experienced a CAGR of 19.5% in revenue. It is forecast that in 2024, the sports equipment market will grow by 2.9%.

These impressive figures highlight the growth potential of the industry in the next few years, thus, businesses need a platform to gauge consumer preferences, gain insights and foster collaboration to expand their market presence. The exhibition is expected to create a platform which enables businesses to solidify their position and enhance their brand visibility.

Source: VNA