Upswing in Sports Participation Augmenting Growth of Sports Compression Clothing Market
Globally, cycling and running remain the most preferred outdoor activities, and participation in these activities has been observed to be rising in the recent years. High potential countries like China, India and South Korea among others have seen a significant uptick in sports and outdoor activity participation rates. Cycling and running has shown more than 3% annual increase with significant spending on sports compression clothing. These factors have positively impacted the sports compression clothing market, which is expected to grow at CAGR of around 6% during the forecast period.
Established Regions to Remain Investment Hot Spots for Sports Compression Clothing Manufacturers
North America and Europe account for more than 60% of demand for sports compression clothing. While new potential consumers in these regions remain low, the established demand for sports compression clothing has been one of the primary drivers for manufacturers to invest in quick returns. Domestic sports compression clothing manufacturers like Virus Performance, MudGear and Pacterra Athletics have shown focus on domestic demand to expand their brand presence in sports compression clothing market. As demand for sports compression clothing in other regions has been low, these established regions are expected to remain lucrative for mid-term investments.
Substantial Increase in Women Participants Driving Demand for Sports Compression Clothing
Women participation rate has seen a significant surge in sports like cycling, tennis, and triathlons among others. The annual increase in women participation has been estimated to be growing at nearly 1%. The growth of total women participants in sports has subsequently shown to increase the demand of supportive equipment like sports compression clothing. This uptick in demand for sports compression clothing has primarily shown focus on compression tops. Compression tops segment is expected to be the fastest growing product type in sports compression clothing market, and is expected to grow 1.9X times by 2029 from 2019.
Product Differentiation through Trademarked Fabrics Remains a Key Trend
Product differentiation remains the only strategy for sustaining in the sports compression clothing market. While multiple avenues are being explored for differing products, some companies in sports compression clothing market have developed trademarked fabrics. Virus Performance is one of the companies carrying multiple trademarked fabrics such as COOLJADE, BIOCERAMIC and COFFEE CHARCOAL. This product differentiation has facilitated the company to provide sports compression clothing according to consumer inclinations, and in turn increase their sales.
Companies Leveraging Online Retail to Boost Sports Compression Clothing Adoption
The sports compression clothing market is highly fragmented with top players controlling around 20% of revenue share. Under Armour and 2XU Pty. Ltd. are the market leaders in sports compression clothing market, while Wacoal, WOLACO, MudGear and Nike Inc. are some of the top competitors. Being in nascent stage of development, multiple players in the market have shown high reliance on domestic markets. To increase their reach, companies have been shown to make their products available through online retail. While some sports compression clothing manufacturers have been reliant on third party e-commerce, others have been focusing on increasing traffic and conversion rate of their proprietary sites.
- In 2019, Brooks Sports, Inc announced to pull out production bases for multiple products from China and establish these units in alternative countries. Focus of the company on Vietnam is expected to be high during upcoming years.
- In January 2018, Adidas AG entered the market of sports compression clothing with their new product line “Alphaskin”. The product line was launched in three different varieties Alphaskin 360, Alphaskin Tech and Alphaskin Sport.
- In 2018, WOLACO launched new products in their sports compression clothing line tailored for women. The company also established their showroom and office in New York City.
Global Sports Compression Clothing Market – Scope of the Report
The sports compression clothing market is anticipated to observe a significant growth in the forecast period of 2019 to 2029, according to a Fact.MR study. The study propounds key trends that are currently shaping the growth of the sports compression clothing market. This newly published and insightful report sheds light on the key dynamics, which are expected to transform the future of the sports compression clothing market. This, in turn, is creating flourishing avenues for prominent companies as well as emerging players associated with the manufacturing of sports compression clothing.
The sports compression clothing market study is a sinuous market intelligence on the key drivers, challenges, industry trends and opportunities, which is likely to influence growth trajectory of the sports compression clothing market. The report initially imparts an overview of the sports compression clothing market, considering current and future prospects in growth, to unveil attractive facets pertaining to the adoption of sports compression clothing across key regional markets.
An in-depth assessment on few of the sports compression clothing manufacturers offered in the report enables the report readers to gain detailed insights that are derived from sports compression clothing manufacturers across regional markets. A list of key companies operating in the sports compression clothing market provided in the report adds to the credibility to this exhaustive research study.
Global Sports Compression Clothing Market: Opportunity Analysis
The report offers a detailed study on different factors influencing demand, sales, and revenue generation in the sports compression clothing market around the world. The opportunity analysis included in the report is beneficial for readers to better understand opportunities in the sports apparel market, which in turn, is likely to trigger the adoption of sports compression clothing. An elaborated cost structure analysis provides the report with an innate completeness, and analysis offered on the cost structure involves all the regional markets incorporated.
A detailed forecast on the global sports compression clothing market has also been offered by experts, who have categorized market forecasts into a likely scenario, a conservative scenario, and an optimistic scenario regarding adoption and involvement of the global market during the forecast period. Analysis and assessment of price point by region has also been included in this study. The study also exerts details on aspects impacting strategies of manufacturers within the global sports compression clothing market.
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Global Sports Compression Clothing Market: Segmentation
Segmentation table of the global sports compression clothing market has been provided below on the basis of Product Type, Activity, Sales Channel and Region.
|
Product Type |
Activity |
Sales Channel |
Region |
|
Shirts |
Cycling |
Sports Variety Store |
North America |
|
Pants and Shorts |
Road Running |
Franchise Sports Store |
Latin America |
|
Sleeves |
Trail Running |
Online Retail |
Europe |
|
Socks |
Triathlon |
Others |
East Asia |
|
Tops |
Others |
|
South Asia |
|
Others |
|
|
Oceania |
|
|
|
|
Middle East and Africa |
Global Sports Compression Clothing Market: Analysis on Market Size Evaluation
Market valuation at the global and regional scale for the global sports compression clothing market is offered in terms of “US$ Mn” A Y-o-Y growth comparison on the key sports compression clothing market segments, along with the market attractiveness assessment quantifies insights delivered in the report. Metrics mentioned above are also tracked based on consumption across several regions where sports compression clothing is witnessing a growing demand.
Global Sports Compression Clothing Market: Scrutinized Assessment on Regional Segments
Weighted chapters have been included in the report on the global sports compression clothing market, which imparts a forecast on the regional markets recognizing the regional macros (business, economic and political environment outlook), which are expected to have an impact on the growth of the global sports compression clothing market in the near future.
Country-specific assessment on the demand for sports compression clothing has also been provided for each regional market, along with the market size valuation, price point assessment, price index, and impact analysis of key regional and country-wise dynamics. Y-o-Y growth projections have also been offered on all regional markets that are incorporated in the report.
Global Sports Compression Clothing Market: In-depth Analysis on Competitive Landscape
The report concludes with a weighted chapter on the competition landscape considering up-to-date and essential developments related to market players, who are predominantly engaging in the production and distribution of sports compression clothing, along with company’s strategies, identification, and analysis. Market share comparison and analysis of these market players offered in the report enables readers to devise strategies for their businesses.
The intensity mapping of the market players operating in the global sports compression clothing market provides readers with actionable intelligence, which helps in understanding the current market status and prospects determining the competition levels in the global sports compression clothing market.
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Sports Compression Clothing Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029