You are correct that some writing guides advise hyphenation to clarify compound adjectives. That said, the hyphenation is often a guideline rather than a required practice, since in many cases the resulting phrase (health product industry, electric power industry) won't be misread.
For instance, APA acknowledges that many compounds don't need to be hyphenated:
In a temporary compound that is used as an adjective before a noun, use a hyphen if the term can be misread or if the term expresses a single thought (i.e., all words together modify the noun).
A temporary compound might be a nonce-formation used for a specific statement. In that case, the hyphenation would aid in preventing misreading:
- two-parent homes (distinguishes from two parent homes, that is, two homes)
However, since "health product" and "sports equipment" are well-known compounds, hyphenating them is not necessary.