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Sports Apparel Market

Sports Apparel Market

Sports Apparel Market Analysis By Product Type (Tops & T-Shirts, Hoodies & Sweatshirts, Jackets & Vests, Shorts, Socks, Surf & Swimwear, Pants & Tights), By End User, Sales Channel And Regions – Global Market insights 2022 to 2032

Sports Apparel Market
FACT276MR
  • Apr-2022
  • List of Tables : 56
  • List of Figures : 94
  • 170 Pages
  • Sports

Global Sports Apparel Market Outlook

The global sports apparel market is estimated at USD 205.2 Billion in 2022 and is forecast to surpass USD 362.3 Billion by 2032, growing at a CAGR of 5.8% from 2022 to 2032.

Report Attributes

Details

Base Year Value (2021A)

USD 194.9 Billion

Estimated Year Value (2022E)

USD 205.2 Billion

Projected Year Value (2032F)

USD 362.3 Billion

Global Growth Rate (2022-2032)

 CAGR 5.8%

North America Market Share in 2021

~26%

North America Growth Rate (2022-2032)

CAGR ~5.9%

Collective Value Share (U.S, China, India) 2022: Top 3 Countries

~41%

Top 5 Companies Market Share in 2021

~19%

Key Companies Profiled

  • Nike Inc.
  • Adidas AG
  • Under Armour
  • Puma SE
  • Sketchers USA
  • New Balance
  • Asics
  • Brooks
  • Yonex
  • Fila Korea
  • Other Market Players

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2017-2021 Global Sports Apparel Market Outlook in Comparison to 2022-2032 Growth Forecast

The market for sports apparel is anticipated to spur significantly because of consumers getting motivated to opt for physical activities like yoga, aerobics, swimming, running etc. The aspiration to follow the up-to-date fashion trends and to maintain a sporty look is driving progresses in the sports apparel market.

Manufacturers in the sports apparel market are paying greater attention to the design, comfort, and innovation by them is creating lucrative opportunities for the brands to introduce attractive and stylish sports apparels. They are focusing on key marketing strategies like kit sponsorships, endorsements, etc. to stay competitive and differentiate them from the presence of other players in the market. All these factors are estimated to provide a gain of 209 BPS to the sports apparel market during the forecast years of 2022-2032.

In addition to this, the augmenting participation of women is sports and fitness activities, rising crossover between sports and fashion, coupled with the increased presence of fashionable sports apparel is likely to propel market demand and growth.

Fact.MR projects the sports apparel market is expected to witness exhibiting growth at 5.8% CAGR during 2022 and 2032 in comparison to a CAGR of 4.0% with which it grew from 2017 and 2021.

Augmenting Demand for Fashionable Sports Apparel

The demand for versatile, trendy, convenient, and fashionable sports apparel is on the rise which can be worn for a variety of occasions. The key players in the market are capitalizing on the trendy styles by introducing innovative, and technically advanced products which enhances the profitability of the manufacturers in the sports apparel market.

Moreover, the demand for fashionable color combination in numerous sports activities is being demanded greatly. Additionally, the demand for pastel colored yoga clothing is extended into athletic apparel industry because of white and black color being dumped by the consumers. Thus, these factors are likely to enhance market demand for sports apparel by 1/5th of current levels in coming years.

An Adaptive Approach to Modern-day Research Needs

Media Industry to Propel Market Growth

The key players in the sports apparel market are making use of media industry and are greatly spending on advertising and celebrity brand endorsements, to influence consumers to engage in sports and fitness activities. In addition to this, the collaboration of sportspersons with the premium brands are persuading customers to buy active wear. Thus, these creative business strategies and marketing are expected to fuel market growth by 2.3X over the assessment period of 2022-2032.

Factors Restraining Market Growth

The fluctuations in the prices of raw materials used in the production of sports apparel and the manufacturing of counterfeit products is a market restraining factor. Counterfeiting is very common in countries like India and China. In addition to this, the high initial costs of and investments in sports apparel market may act as a market deterrent factor and thereby restraining market growth by 0.4X during the forecast years.

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Region-wise Insights

Which region accounts for more enhanced demand for Sports Apparel Market?

North America sports apparel market accounts for the largest market share of 26.2%. The region is projected to register a CAGR of 5.9% during the forecast years. The highly evolved retail structure along with higher adoption of sports apparel owing to aggressive promotional and advertising campaigns, celebrity brand endorsement are making up to the popularity of the sports apparel. Moreover, the rise in participation of women in fitness and sports activities, is likely to support market growth in the region positively.

What is the market scenario in East Asia and South Asia & Oceania Sports Apparel Market?

The East Asia sports apparel market holds 20.9% of the overall market share and is projected to register CAGR of 6.3%. Whilst, South Asia & Oceania sports apparel market holds 20.2% market share and is likely to grow at a CAGR of 6.6% over the assessment period of 2022-2032.

The higher percentage of population present in countries like India and China and escalating appetite for foreign brands is to support market growth in these regions. More importantly, the rising disposable income of the consumers coupled with the thirst to improve their lifestyle along with the government initiatives encouraging sports participation are likely to positively impact the sports apparel market in coming years.

Sports apparel market forecast by Fact.MR

Category-wise Insights

Which product type holds dominant market share and is likely to show higher growth in Sports Apparel Market over the assessment period?

The sports apparel under product type is segmented into tops & T-shirts, jackets & vests, hoodies & sweatshirts, swimwear, shorts, socks etc. Amongst them, the tops & T-shirts dominates the market by holding 21.3% of the overall sports apparel market share. The segment is projected to grow at a CAGR of 6.7% during the forecast years.

Consumers inclining towards high comfort and fashionable apparels is supporting the market. The amateur sports players and professional athletes are unwilling to compromise on fashion and comfort, and are choosing from wider range of apparels meeting their requirements. All these factors are propelling market growth of the segment is coming years.

The next leading segments under the product type segment are hoodies & sweatshirt, and jackets & vests which holds 18.7% and 15.6% and they are projected to register CAGR of 6.3% and 5.8% over the assessment period.

Which end-use segment is estimated to support market growth in the Sports Apparel Market during the forecast period?

Under the end-use segment, the sports apparel market is segmented into men sports apparel, women sports apparel, and children sports apparel. Amongst them, the men sports apparel holds the largest market share of 41.3% of the overall market share and the segment is projected to register 6.3% CAGR in coming years. The growth is mainly attributed to the higher participation of men in sports.

However, the women end-user segment which holds 32.3% market share, growing at 5.8% CAGR is expected to register higher CAGR owing to the escalating participation of women in sports in coming years. The women sports apparel is growing at an exponential rate because of the government initiatives and the changing mindset of the consumers, thereby leading to significant growth. Whilst, the children sports apparel segment holds 26.4% market share, projected to register 5.4% over the assessment period of 2022-2032.

Competitive Landscape: Top Companies in Sports Apparel Market

The global sports apparel market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the manufacturing of sports apparel.

Fact.MR has provided detailed information about price points of key manufacturers in sports apparel market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

  1. PUMA, a global sports brand in 2021 launched athleisure range for Royal Challenger Bangalore (RCB). This was done as a part of strategic partnership of three years
  2. Eastbay and Champs Sports in 2021 launched Eastbay Performance, a new apparel line, including compression products like tanks and tights, tops, shorts, tees, jackets etc. for training and hoodies and fleece pants for casual wear
  3. Kappa and Hyosung in 2020 collaborated to launch new K-Spirit e-sports apparel collection of Kappa at TGA i.e. Tencent Global E-Sports Arena

Global Sports Apparel Market by Category

  • By Product Type, Global Sports Apparel Market is segmented as:

    • Tops & T-Shirts
    • Hoodies & Sweatshirts
    • Jackets & Vests
    • Shorts
    • Socks
    • Surf & Swimwear
    • Pants & Tights
    • Others
  • By End-Use, Global Sports Apparel Market is segmented as:

    • Men Sports Apparel
    • Women Sports Apparel
    • Children Sports Apparel
  • By Sales Channel, Global Sports Apparel Market is segmented as:

    • Online Sales Channel
      • Company Owned Websites
      • E-Commerce Websites
    • Offline Sales Channel
      • Modern Trade Channels
      • Independent Sports Outlet
      • Franchised Sports Outlet
      • Specialty Stores
      • Other Sales Channel
  • By Region, Global Sports Apparel Market is segmented as:

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

The global value of sports apparel market is estimated to be worth over USD 205.2 Billion in 2022.
The demand is anticipated to surpass USD 362.3 Billion by 2032 end.
During 2017-2021, global sports apparel market grew at 4.0% CAGR.
Some of the prominent players in sports apparel market are Nike Inc., Adidas AG, Under Armour, Puma SE, Sketchers USA, Brooks, Yonex, Fila Korea, etc.
North America tops the global sports apparel market accounting for 26.2% of global market share in 2022.
Tops & T-shirts sports apparel under the product type contributes 21.3% of market share in global sales of sports apparel.

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