Changing and Improving lifestyle with the rising fashion trends are the major drivers that are increasing the market growth at a rapid speed.
According to the current analysis of Introspective Market Research, the global Sports Apparel market was valued at USD 171.98 Billion in 2019 and is expected to reach USD 243.59 Billion by the year 2026, at a CAGR of 5.15%.
Increased health conscious and comfortable lifestyle of the people has improved the market share for the Sports apparel market. Changing lifestyle and the standardization in the country has increased the market size from 2020. People are more opting for the durable and comfortable clothes. The manufacturing companies are noticing the change in the lifestyle patterns and are coming up with new innovations and creative ideas which are attracting a lot of audience for the market. The marketing strategies and the improved campaigns and endorsements are one of the driving factors that is propelling the growth of the market.
According to the analyst, the improving lifestyle and the fitness trend that is going in the social media has influenced a lot of target audience, mainly the younger generation. This strategy and the brand positioning are helping the market to grow rapidly and will continue to grow in the forecast period. Increased functionality and the extreme participation in sports due to a lot of promotion in the social media is rapidly growing in the industry which is impacting the market size. Growing awareness in the women and their development in sports is expected to bring more market for the sports apparel in the forecast period. Increasing disposable income for the people and the emerging economies of the countries are also the growth factors for the Sports Apparel Market. The industry giants are initiating new ways for creative and innovative sports clothing with supreme quality which are helping the market to prosper at a larger scale.
The Global Sports Apparel market is segmented by Product Type (Hoodies & Sweatshirts, Tops & T-Shirts, Jackets & Vests, Shorts, Socks, Surf & Swimwear, Pants & Tights, and Others), by Distribution Channel Type (Online Stores, Supermarkets/Hypermarkets, Retail Stores, Brand Outlets, Discounted Stores), by Sports (Soccer, Basketball, Baseball and Others), by End-User (Children, Men and Women). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest:
- High Cost for the better-quality apparel from the luxurious key brands are expected to hamper the growth of the market.
- Huge investments in the research and development because of the high cost are hindering the growth of the market.
- The women segment as the end-user has a promising growth in the forecast period from the regions like North-America and Asia-Pacific.
- The United States and India are the major producer and consumer for the Sports Apparel Market due to the younger generation’s more interest and investment in fitness and sports.
Key Participants include Adidas AG, Nike, Inc., Puma SE, Under Armour, Inc., Ralph Lauren Corporation, Umbro Ltd., Fila, Inc, Lululemon Athletica Incorporation, New Balance Athletic Shoe, Inc., Decathlon, Amer Sports Corporation, Billabong International Limited, Everlast Worldwide Inc., GAP Inc., Jockey International, Lotto Sport, Columbia Sportswear Company and many others.
For this report, Introspective Market Research have segmented the Global Sports Apparel markets market on the basis of Region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM