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Home ➤ Consumer Goods ➤ Sports| Fitness and Leisure ➤ Sports Wear Market
Sports Wear Market

Sports Wear Market

Published date: Aug 2022 • Formats:
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  • Home ➤ Consumer Goods ➤ Sports| Fitness and Leisure ➤ Sports Wear Market

Global Sportswear Market By Product Type (Shoes and Clothes), By Distribution Channel (Online and Retail), By End User (Men, Women, and Kids), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

  • Published date: Aug 2022
  • Report ID: 41081
  • Number of Pages: 297
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
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    Report Overview

    The Global Sportswear Market size is expected to be worth around USD 356 billion by 2032 from USD 185.9 billion in 2022, growing at a CAGR of 6.9% during the forecast period 2022 to 2032.

    Sportswear is in high demand not only because of widely-liked games like hockey and cricket but also because of other physical health pursuits like yoga and the gym, as well as outdoor leisure pursuits like skiing. This has led to the market having items that are specialized to meet the various needs of customers participating in a variety of activities. Running shoes are different from basketball shoes, which are different from football shoes. Ice hockey apparel is different from hockey t-shirts because both are created to meet the specific criteria for temperature regulation.

    Global Sportswear Market by type

    Driving Factors

    This market is driven by Technological Advancements

    From 2023 to 2032, the clothing industry is anticipated to experience the highest CAGR, at 10.7%. The segment is driven primarily by technological advancements like t-shirts that monitor heart rate and materials that dry quickly. For instance, Nike’s newest line of tights is made of fabric, which helps regulate body temperature and increases blood flow.

    Restraints Factors

    Expansion of the Counterfeit Markets Is Big Restraint For the Sportswear Market

    The largest obstacle to the industry’s expansion has been the expansion of the counterfeit market and the variety of internet methods used to distribute them globally. Many consumers purchase counterfeit goods because they are typically much cheaper than authentic ones. In 2018, one of the costliest crimes committed in the world was counterfeiting, according to Forbes. More money is spent each year on counterfeit and pirated goods than on drugs and human trafficking combined (US$ 1.7 trillion). It is anticipated to be valued US$ 2.8 trillion and eliminate at least 5.4 million jobs by 2022.

    COVID-19 Impact Analysis

    The Coronavirus outbreak has had a severe impact on the global retail industry, as lockdowns and restrictions on consumer store occupancy caused sales to decline. Business Wire reported in April 2020 that Columbia Sportswear Company’s first-quarter revenue had decreased by 13% as a result of Covid-19; they also attribute this reduction to delays in shipping goods due to precautionary measures taken. Furthermore, research from Economic Times published in February 2021 indicates a global decrease in the maritime trade of 4.1% as a result of this crisis in 2020.

    Type Analysis

    In 2022, the shoe product category had the largest share of the market and will continue to grow as product demand continues to rise. Shoes for sports like football, tennis, basketball, and others are known as sports footwear. Casual shoes are also included in this category. When making these kinds of shoes, high-end technology like foam-blown polyurethane, which gives the shoes more cushioning, is used by companies like Adidas.

    From 2023 to 2032, the clothing industry is anticipated to experience the highest CAGR, at 10.7%. The segment is driven primarily by technological advancements like t-shirts that monitor heart rate and materials that dry quickly. For instance, Nike’s newest line of tights is made of fabric, which helps regulate body temperature and increases blood flow.

    Distribution Channel Analysis

    Specialized Showrooms and Hypermarkets Are Driving Retail Segment Market Share

    By distribution channel, Markets are divided into Online and Retail segments. The Retail segment accounted for the greatest market share in 2022 and is anticipated to hold the top spot in the market during the projected period. Because they sell goods from global brands like Puma, Nike, Adidas, and others, stores, specialized showrooms, and hypermarkets are becoming increasingly well-liked, which is why the offline market is expanding. Choices like discounts and free trials before purchases, as well as the advantage of instant gratification, are credited with the segment’s rise. During the projection period, the Online segment is anticipated to experience the highest CAGR of 8.71%. Increased usage of smartphones and the internet for online shopping enables consumers to compare products and prices, propelling this market growth.

    End-User Analysis

    The Increased Participation of Men in Sports and Physical Activity dominates This Segment

    This market is segmented into Men, Women, and Kids. The Men sub-segment holds the biggest market share. This market’s expansion is related to the increased participation of men in sports and physical activity and the growing popularity of sportswear due to its fashionable design and comfortable fit. During the projection period, the Women’s sub-segment sector is anticipated to expand at a CAGR of 7.19%.

    Global Sportswear Market End-User

    Cultural shifts and the rising engagement of women in several sports, yoga, fitness centers, and other physical activities are driving the market expansion of the category. In addition, there are more women than males who run. Thus, it is anticipated that the female market will expand dramatically over the coming years.

    Key Market Segments:

    Based on Type

    • Shoes
    • Clothes

    Based on Distribution Channel

    • Online
    • Retail

    Based on End-User

    • Men
    • Women
    • Kids

    Growth Opportunity

    Reintroduction of Major Sporting Events, Such as The Olympic and Paralympic Games, and the Continued Popularity of Outdoor and Home-Based Sports

    People are looking for the best brands as the economy and money develop. Thus, the sports products industry is always growing in response to product demand. The sports clothing business has considerable commercial potential in sponsorship, marketing, exporting, and selling sports goods.

    The potential reintroduction of major sporting events, such as the Olympic and Paralympic Games, and the continued popularity of outdoor and home-based sports are the most likely causes. Individual sports played outside, home exercise, yoga, e-sports, and virtual racing are a few of the categories that are expected to continue gaining popularity over the forecast period. Because it can be worn in a variety of situations and is versatile, useful, and fashionable, fashionable sports gear is in high demand.

    Important companies in the examined market have capitalized on this increased emphasis on style by developing novel, technologically advanced products that are both comfortable and useful to meet this demand and boost profitability. The requirement for appealing color combinations in a variety of sports activities is another factor driving market expansion. Demand for pastel colors has expanded beyond yoga clothing into the larger sports gear industry as traditional black, and white hues are gradually being phased out.

    Latest Trends

    Recent Sports Fashion Trends May Be Attributed to the Athleisure Movement, A Bright Spot In The Sportswear Market

    Most recent sports fashion trends may be attributed to the athleisure movement, a bright spot in the sportswear market. Young consumers drive the trend because they want to be active and healthy. While athletic retailers like Adidas, Nike, and Puma are typically connected to sports retail, high-end and mainstream companies are starting to use this strategy. For example, Asos, H&M, Zara, and Topshop have created lines with a particular department for their athleisure brand. Sportswear with enhanced characteristics, such as temperature regulation, moisture management, and other performance-enhancing qualities that reduce potential harm and pain, is in demand from consumers and can command a higher price.

    Regional Analysis

    North America was the largest regional market in 2022 and is expected to maintain dominance over the forecast period due to the presence of key industry participants, such as Adidas and Nike, which have the largest share in the North American market in terms of sales of sports apparel. The popularity of sports, such as soccer and basketball, along with rising health consciousness, is projected to boost this market growth.

    Global Sportswear Market Analysis By Region

    Asia Pacific is estimated to register the fastest CAGR of 11.0% from 2023 to 2032. Improved standards of living, low manufacturing costs, and increasing disposable income levels in developing countries are the key factors propelling the Region’s growth.

    Key Regions and Countries Covered in this report:

    • North America
      • The US
      • Canada
      • Mexico
    • Western Europe
      • Germany
      • France
      • The UK
      • Spain
      • Italy
      • Portugal
      • Ireland
      • Austria
      • Switzerland
      • Benelux
      • Nordic
      • Rest of Western Europe
    • Eastern Europe
      • Russia
      • Poland
      • The Czech Republic
      • Greece
      • Rest of Eastern Europe
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Australia & New Zealand
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
      • Vietnam
      • Rest of APAC
    • Latin America
      • Brazil
      • Colombia
      • Chile
      • Argentina
      • Costa Rica
      • Rest of Latin America
    • Middle East & Africa
      • Algeria
      • Egypt
      • Israel
      • Kuwait
      • Nigeria
      • Saudi Arabia
      • South Africa
      • Turkey
      • United Arab Emirates
      • Rest of MEA

    Market Share & Key Players Analysis:

    Adidas AG, Nike, Inc., Umbro Ltd., Puma SE, LI-NING Company Ltd., Columbia Sportswear Company, and Anta Sports Products Ltd. are among the market leaders. Mergers and acquisitions and the creation and launch of new products are examples of strategic initiatives businesses take to gain a competitive advantage in the market.

    Top Key Players in Sportswear Market

    • Nike Inc.
    • Adidas
    • Puma SE
    • Lululemon Athletica Inc.
    • Under Armour Inc.
    • Umbro
    • Columbia Sportswear Company
    • Anta Sports
    • Li Ning Group
    • Other Key Players

    Recent Developments:

    • Sep 27, 2022- Columbia Sportswear and Dude Perfect announce Multi-Season Partnership.
    • Aug 4, 2022- The introduction of Nike and Adidas’ eagerly awaited high-fashion collaborations with Jacquemus and Gucci.

    Report Scope:

    Report Features Description
    Market Value (2022) US$ 185.9 Bn
    Forecast Revenue (2032) US$ 356 Bn
    CAGR (2023-2032) 6.9%
    Base Year for Estimation 2022
    Historic Period 2016-2022
    Forecast Period 2023-2032
    Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments
    Segments Covered By Product Type- Shoes and Clothes; By Distribution channel- online and Retail; By End-User- Men, Women, and Kids
    Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA
    Competitive Landscape Nike Inc., Adidas, Lululemon Athletica Inc., Under Armour Inc., Umbro, Columbia Sportswear Company, Anta Sports, Li Ning Group.
    Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)

    Frequently Asked Questions (FAQ)

    What is the projected CAGR at which the Sportswear Market is expected to grow at?

    The Sportswear Market is expected to grow at a CAGR of 6.7% (2023-2032).

    What is the size of the Sportswear Market in 2023?

    The Current Transducer Market size is USD 182.9 billion in 2023.

    Which region is more appealing for vendors employed in the Sportswear Market?

    Asia Pacific is estimated to register the fastest CAGR of 11.0% from 2023 to 2032.

    Name the key business areas for the Sportswear Market.

    The US, Canada, China, India, Brazil, South Africa, Singapore, Indonesia, Portugal, etc., are leading key areas of operation for the Sportswear Market.

    List the segments encompassed in this report on the Sportswear Market?

    Market.US has segmented the Sportswear Market by geography (North America, Europe, APAC, South America, And Middle East and South Africa). The market has been segmented by type Shoes and Clothes. By Distribution Channel online and Retail. By End-User Men, Women and Kids.

    Sports Wear Market
    Sports Wear Market
    Published date: Aug 2022 • Formats:
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  • ondemand_videoVideos
    • Nike Inc.
    • Adidas
    • Puma SE
    • Lululemon Athletica Inc.
    • Under Armour Inc.
    • Umbro
    • Columbia Sportswear Company
    • Anta Sports
    • Li Ning Group
    • Other Key Players
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