Performance Apparel Market

Performance Apparel Market Outlook (2023 to 2033)

The global performance apparel market experienced a year-on-year (YoY) growth rate of 6.1% in 2022 and a valuation of US$ 10.2 billion in 2022.

As new outdoor performance apparel brands enter the market in record numbers, they are introducing new combinations and technologies to stand out from the crowd and win over consumers. With that, the sector is set to continue on its growth trajectory.

Report Attributes	Details
Estimated Market value (2023E)	US$ 10.9 Billion
Forecasted Market Value (2033F)	US$ 21.5 Billion
Global Market Growth Rate (2023 to 2033)	CAGR 7.0%
North America Market Share (2023)	~31.2%
North America Growth Rate (2023 to 2033)	6.4% CAGR
US Growth Rate (2023 to 2033)	6.5% CAGR
Market Share of Top 5 Companies	~32.5%
Key Companies Profiled	Nike; Puma; Under Armour; Fila; Pearl Izumi; ADIDAS; REEBOK; Lululemon; New Balance; ASICS; Columbia Sportswear Co.

Consumption Analysis of Performance Apparel Market (2018 to 2022) Vs. Forecast Outlook (2023 to 2033)

Based on current research and analysis by Fact.MR - market research and competitive intelligence provider, the market for performance apparel grew with a CAGR of around 4.9% during the last five years.

Performance apparel, simply defined, is the garments that function or perform for a specific purpose. Such performance apparel aid athletes and active people to remain comfortable, keep cool, and dry through moisture management and other techniques.

Performance apparel shares the same attributes that help them meet the needs of the wearers, and their situation and mitigate the risks of the surrounding environment. There are numerous ways to make clothing functional. They may include adhering to certain fabrication guidelines, fabric and trim requirements, or chemical and fiber treatments for the fabric.

• Short Term (2023 to 2026): The rising inclination of people towards fitness activities and comfort during their fitness exercises will drive the market for performance apparel in short term.
• Medium Term (2025 to 2028): Rising demand for eco-friendly performance apparel will drive the market in the medium term as the manufacturers are still finding more ways to use organic raw materials in production.
• Long Term (2029 to 2033): Rising industries in the Asia Pacific region and overall industrial development coupled with rising sports activities will drive the market in long run.

Because of this, the demand for performance apparel which finds its usage across various end-use applications is poised to create an absolute dollar opportunity of US$ 10.6 billion by 2033.

According to the above image, illustrates the analysis of the overall market share of the performance apparel market based on region and application. Under the application segment, sportswear dominates with a 64.5% market share in 2023.

“Shifting Consumer Preference Towards Comfortable and Reliable Apparels To Bolster Sales”

The growth of the performance apparel industry is attributed to the shifts in the lifestyle of the majority of people in the contemporary era. Active sports such as athletics, ballooning, aerobics, hiking, windsurfing, running, swimming, cycling, mountaineering, snowboarding, sailing, parachuting, and skiing are preferred nowadays, over any other recreational activities.

With the rising hazards in the industries such as recycling industries, automotive, and others, due to the exposure to hazardous materials such as polluting wastes, chemicals, and others, and the growing risk events like terror attacks, fire, and others, performance apparel is gaining traction. The corporate wear sector is also growing with demands for more functional clothing.

“Rising demand for Green/Eco-Friendly Performance Apparel”

It is common knowledge that environmentally harmful chemicals and other techniques are used to create high-tech fabrics. However, modern consumers are more concerned about the environment. They desire both environmentally responsible and functional apparel.

They are unwilling to give up any of their qualities. In such a situation, the performance apparel industry has no choice but to be creative and offer such performance apparel that is also environmentally friendly.

Some of the apparel manufacturers have started showing interest in natural fibers such as bamboo, soy, and corn-based fibers or yams which are available in our country for the purpose. More innovative manufacturers have been experimenting with organic and recycled fabrics and many of them have come up with ½ Green Performance Apparel, ½ made of such fabrics.

Mostly, recycled polyester is used for this purpose. However, blends of organic cotton and recycled polyester are also used for making eco-friendly performance apparel.

Attributed to the aforementioned factors, especially, escalating performance apparel demand, the market is projected to grow 2.0 times by the end of 2033, growing at a CAGR of 7.0% from 2023 to 2033.

“Focus on Producing Eco-Friendly Apparel and Digitization of Sales”

Companies should focus on commercializing their product and investing in marketing efforts. Growing digital channels and the rising inclination of consumers towards online shopping is creating demand for manufacturers to focus on creating / or to be available with their products on various online platforms to reach a wider base of consumers.

Also, they should keep a check on using a maximum of organic materials for producing their performance apparel as consumers are getting more concerned with the environment with the passage of time. They are inclined towards using products that do not harm the environment in any way, neither at production nor at the disposal.

Country-Wise Analysis

What makes the US a Prominent Demand Generator of Performance Apparel?

Growing health awareness and rising interest in fitness activities like aerobics, running, swimming, and others, are driving the market growth. A highly organized retail structure on both online and offline ends is also making it easy for buyers to select from a wide available range of products. The high per capita income of people in the US is also making them spend more on fitness apparel as it is helping them create a style statement.

The US performance apparel market is anticipated to grow at a CAGR of 6.5%, and its valuation to become 2.0X its current valuation by 2033.

What makes China a Prominent Market for Driving the Consumption of Performance Apparel?

Changing lifestyles of people and growing inclination towards the usage of performance apparel in daily life is driving demand in the Chinese market.

China is the industrial hub supplying /exporting goods across the world. Rising demand for labor in factories after covid-19 pandemic and also their safety is creating a market for protective clothing performance apparel market.

The rising income of people and expenditure on quality activewear is also the key factor behind the rising demand for performance apparel.

China’s performance apparel market is anticipated to grow at a CAGR of 8.4%, and its valuation to become 2.2X its current valuation by 2033.

Category-Wise Analysis

Which Type of Performance Apparel is Poised to Remain Most Attractive in the Market?

Demand for protective clothing is rising for the last few years and is expected to continue at a rapid pace in the coming years. To introduce professionalism and safety for workers in factories, production facilities, and others, companies are now adopting the use of performance apparel for them.

After covid-19 pandemic, many industries are opening up and introducing measures for employee safety. Majorly companies from the power, mining, and chemical sector are driving the growth of protective clothing.

Pertaining to all the above factors, the demand for protective clothing performance apparel is poised to grow at a CAGR of 6.5% during the forecasted period of 2023 to 2033.

Why is Online Sales Segment for Performance Apparel Growing?

Many FMCG companies are going through a journey where they compete in a market that is facing a trend of direct-to-consumer start-ups. Due to the rising internet availability and the spread of the smartphone network, it is steadily becoming easy for customers to view, review, and select the product they want from the comfort of their homes.

Also, the availability of options like easy returns and attractive discounts is driving customers towards online shopping rather than visiting offline stores. This transformation has encouraged companies to adopt online channels for sales.

Out of the sales channel considered in the scope of the study, demand for performance apparel from the online channels is anticipated to grow at a higher CAGR of 7.7% during the forecast period of 2023 to 2033.

Competition Landscape

Nike, Puma, Under Armour, Fila, Pearl Izumi, ADIDAS, REEBOK, Lululemon, New Balance, ASICS, and Columbia Sportswear Co. is the major leading manufacturers in the performance apparel market.

The world’s leading manufacturers of performance apparel are using various innovative ways to reach directly to their end-user. Large-scale players are focusing to tap the emerging markets of developing economies which presents a lot of opportunities to raise the financial growth rate.

Fact.MR has given in-depth information about the various strategies used by the players in the performance apparel market along with their detailed overviews of sales analysis of performance apparel, and top performance apparel manufacturers, including SWOT analysis and sales generated from target performance apparel products of top performance apparel manufacturers positioned across geographies.

Segmentation of Performance Apparel Market

• By Product Type

  • Topwear
    • T-Shirts / Jerseys
    • Jackets / Sweatshirts
  • Bottomwear
    • Track Pants / Shorts
    • Socks
    • Shoes

• By Consumer Orientation

  • Male
  • Female
  • Unisex

• By Application

  • Sportswear
  • Protective Clothing
  • Dancing

• By Sales Channel

  • Offline
    • Speciality Stores
    • Modern Trade Channels
    • Independent Sports Outlet
    • Franchised Sports Outlet
  • Online
    • Brand / Company Owned Websites
    • E-Commerce Platforms

• By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South-East Asia & Oceania
  • Middle East & Africa