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Global Sports Apparel Market Overview:
The sports apparel market was valued at $167.7 Bn in the year 2018 & is projected to reach $XX Bn by 2026, registering a CAGR of 5.86 percent from 2019 to 2026. In the year 2018, the men end user segment accounted for more than half of the share in the global sports apparel market, & is estimated to grow at a CAGR of 4.75 percent during the forecast period. Sports apparel is clothes worn during physical activities like during workout sessions or while playing sports. They are designed in a way that offers comfort & agility while performing physical movements. Sports apparel are made using breathable material which allows sweat to vaporize faster, helping the person wearing it stay fresh for longer. Originally, the sports apparel was mostly worn by sportspersons but, with time, it became more common with regular gym-goers & other non-athletes. The acceptance of sports apparel has been quite high in mature regions like the United States, Canada, & Germany while developing countries like China, Brazil, & India are catching up quickly. Sports apparel has been gaining traction in developing market, due to increase in the affluent population. Furthermore, development in health awareness & increase in adoption of fitness activities like aerobics, swimming, running, & yoga among customers drive the market development. Moreover, growth in participation of women in sports & fitness activities fuels the sports apparel market development. In addition, aggressive advertisements & celebrity endorsement has also aided the sports apparel industry to pave its way toward development. However, changing prices of raw materials used in making such clothing & easy availability of counterfeit products act as the main restraint for this market. On the contrary, development in demand for trendy & fashionable sports apparel & increase in popularity of sports apparel among children are expected to provide development opportunities for the sports apparel market.
China
The structure of the Chinese Sports Apparel industry has transformed over time in terms of the business model and distribution platform. The development of the total GDP in the country, increasing income levels, & shift in consumption preferences of increasingly affluent customers has stimulated the demand for sportswear in the country. A combination of factors like government support & promotion of sporting programs for the community, hosting of international sports events; growing media exposure & rapid development of the economy have been the main drivers to sustain double-digit development for China’s sportswear market over the period of 2014-2019. The total market revenues of China Sports Equipment and Apparel have improved at a substantial CAGR of 6.97 percent over the forecast period, with revenues being registered at USD 35.92 Bn in the year 2019. Sports Apparel and shoes in China has been mainly led by the sports equipment which commanded a key share of ~60 percent in the total revenues of the sports equipment and apparel market in the year 2019. The Sports Equipment and Apparel market of China in the future is saw to augment at the CAGR of 6.97 percent during 2019-2026, with revenues are estimated to reach about USD XX Bn by 2026.
India
The Sports Apparel industry in India has saw phenomenal growth over the last seven years and has occupied a place of prominence in the Indian economy in terms of its massive potential for employment generation & export. India Sports Apparel market has significantly improved at a healthy CAGR of 8.07 percent during the period 2019-2026. Numerous factors, with a thriving middle-class population, a paradigm shift in customers’ attitude to health and fitness, a rise in the number of sports events and the development of organized retail are expected to drive the market over the forecast period. The Sports Apparel market revenues in the future are projected to augment at the CAGR of 8.07 percent during 2019-2026, reaching revenue to USD XX Bn by 2026.
Thailand:
Increasingly health-conscious Thai customers have become determined to engage in exercise, sports & other physical activities, & they put more effort into making some form of outdoor & indoor exercise a daily routine. In addition to traditionally popular sports in the country like boxing & kick volleyball, running (marathons), cycling & triathlons are among the activities which are becoming more popular, & there is a rising abundance of new technically improved performance footwear & apparel on offer in Thailand to meet customers’ needs. The offline segment to maintain its lead status throughout the forecast period Based on distribution channel, the offline segment accounted for more than three-fourths of the total sports apparel market in the year 2019, & is projected to maintain its lead status during the forecast period. Moreover, this segment would register the highest CAGR of 7.2 percent during the forecast period. This is owing to attractive offers available in the physical stores along with choice to try apparel on the spot.
At leisure & Casualization Trends Remain Relevant In the year 2020:
The at leisure trend was gaining momentum in Australia out of key changes in society prior to the rise of the pandemic, driven by Generation Z & millennials, with more casual attire accepted in offices & other workplaces & the rising participation in sports & fitness-driven lifestyles by males & females driving stronger demand for sports-inspired apparel & footwear which transcends sport & follows both fashion & casualization trends. Therefore, active wear has arrived the mainstream as a form of lifestyle clothing.
Fragmented Competitive Landscape with Nike Retaining Overall Leadership:
Nike reserved its total leadership of a fairly fragmented competitive landscape which saw smaller players under others hold the maximum total value share in the year 2020. Nike aids from its strength in sports footwear in addition to regaining its 2nd position within sports apparel to rank behind the dynamic lululemon athletica Australia Pty Ltd, which grew leadership of this category in the year 2020 from Kathmandu Holdings Ltd. The report covers Soccer, Basketball, Baseball, with detailed analysis Global Sports Apparel Market industry with the classifications of the market on the Sport, By Distribution Channel, End-User & region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players’ contribution in it. The report has profiled twelve key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced Plastic Type, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in five regions. The major country’s policies about manufacturing & Covid 19 impact on demand side are covered in the report.
Scope of the Global Sports Apparel Market: Inquire before buying
Global Sports Apparel Market, By Region
• North America: o US o Canada • Europe o UK o Germany o France o Spain o Italy o Sweden o CIS countries o Rest of Europe • APAC o China o India o South Korea o Japan o Australia o Rest of APAC o ASEAN Indonesia Malaysia Singapore Thailand Vietnam • Middle East & Africa o GCC Countries o South Africa o Rest of MEA • Latin America o Mexico o Brazil o Rest of Latin America
Global Sports Apparel Market Key Players
• Adidas AG • Nike, Inc. • Puma SE • Under Armour, Inc. • Lululemon Athletica • Columbia Sportswear Company • Anta International Group Holdings Ltd. • Li Ning Company Limited • VF Corporation.
