Market Research Report
Global Sports Apparel Market Market - 2021-2028
|Global Sports Apparel Market Market - 2021-2028|
Published: July 30, 2021
Content info: 180 Pages
Delivery time: 2 business days
The global sports apparel market size was worth US$ XX billion in 2020 and is projected to show trajectorial growth by reaching up to US$ XX billion by 2028, growing at a CAGR of XX% between the forecast period (2021-2028).
Sports apparel is the clothing worn during strenuous athletic activities such as working out or participating in sports. They're made to give comfort and agility when a sportsperson is doing any physical activities. Sports clothing is made of breathable material that allows sweat to evaporate quickly, allowing the wearer to stay fresh for longer. These are made from various fabrics, including cotton, spandex, and have different properties depending on the type of sport or activity the consumer participates. Apart from this, polyester, calico, microfiber are some of the most commonly used fabrics in these clothing productions. Initially, athletes wore sportswear, but it has since become common among casual gym-goers and other non-athletes. Sports apparel has been widely adopted in developed countries such as the Canada, United States, and Germany, while developing countries such as China, Brazil, and India are rapidly catching up.
The growing interest of the population towards adopting different sports types as career choices creates huge opportunities for the sports apparel market to proliferate in the near future. Increasing investments by the key manufacturers towards aggressive advertisements and celebrity endorsement has also helped the sports apparel industry pave its way toward growth.
The growing interest of the population towards adopting different sports types as a career choice creates huge opportunities for the sports apparel market to proliferate in the near future.
As per recent studies, in 2018, the global sports market was worth approximately 471 billion U.S. dollars. In comparison, the market was valued at 324 billion U.S. dollars in 2011. The United States holds a 32.5 percent market share of the global sports market in the year 2018. Furthermore, the North American sports industry was worth approximately 71.06 billion dollars in 2018. By 2023, this number is projected to increase to $83.1 billion. The categories gate sales, broadcast rights, sponsorships, and merchandise make up the industry. Thus the growing number of sports markets in different regions of the globe is directly accelerating the growth of sports apparel in the recent times
Besides, over the forecast period, the market is expected to be driven by increasing female participation in professional and domestic sports and fitness activities. The growing convergence between sports and fashion has increased the availability of trendy sports apparel, which is expected to fuel the coming years' sports apparel market.
Increasing investments by the key manufacturers towards aggressive advertisements and celebrity endorsement has also helped the sports apparel industry pave its way toward growth.
An increase in sports participation among the general population and an increasing acceptance of sports apparel in everyday wear drive demand for sports apparel. Aside from athletes who purchase sports apparel to improve their athletic events, most customers purchase sports apparel for non-sporting activities. Advertising often aids in the sale of new goods to customers, allowing the product to be quickly and effectively sold in the industry. In the majority of commercials, psychology is used to influence audiences. A woman does not specifically attribute her wardrobe to a celebrity but is more likely to buy anything that is part of a pattern that can be traced back to a celebrity. Furthermore, various brands are advertising their product while bringing awareness about different topics, diseases, and concerns of society. For instance, fighting AIDS is always a priority, and H&M is blown away by every celebrity's passion and devotion, contributing to this collection.
For example, Adidas was swift to acknowledge the pandemic with a hyped film in March, accompanied by a full-scale campaign that has been looking forward to the sporting world's long-awaited return to normalcy with optimism. The Drum speaks with the brand's global head of brand communications to learn how the company pulled off a massive global push during a crisis.
The availability of sports apparel with enhanced properties and performance-boosting characteristics has captured the interest of consumers, thereby creating immense opportunities for sports apparel to build a bigger business in the forecast period.
Sportswear comes under two categories- Professional sportswear in which optimum physical performance is expected, the player's age range and gender are predetermined, the sportswear is likely to be worn for a short period, wearing frequency is predetermined. The climatic condition is approximately constant within the required sports field. Players' age and gender may vary widely, wearing time and use frequency may vary widely, and the climatic environment may vary widely. Leisure sportswear is designed for low to moderate physical activity. Sports apparel are also designed based on the weather condition under which the sport is performed. The product classification is done in this case as - (i) cold-weather products, (ii) moderate weather products, and (iii) hot weather products. Sports apparel can also be classified according to the sport in which the commodity would be used. In this case, sportswear products can be classified into various categories, including auto racing apparel, football apparel, basketball apparel, cycling apparel, martial arts apparel, skiing apparel, soccer apparel, and Yoga apparel.
Since the coronavirus outbreak globally, it has shown server impact on the sports apparel and textile market. Furthermore, several cities worldwide are under partial or complete lockdown to prevent the virus from spreading. It has had a negative effect on the fashion industry, leading to the closure of brands and design houses and the postponement of upcoming runway shows. Nike Inc., Ralph Lauren Corp., Adidas AG, PVH Corp., VF Corp., and The TJX Companies Inc. are among the major players studied in the global apparel industry. These businesses' sales and revenue production have been severely harmed due to the pandemic coronavirus outbreak, as these players were forced to close their stores due to lockdown.
The global sports apparel market is segmented on type of print, material, distribution channel, end-user and region.
The E-commerce segment is more likely to grow at the fastest pace in the near future as it offers various brand varieties at different ranges without stepping out of the home.
The global sports apparel market is segmented into supermarket/hypermarket, e-commerce, brand outlets, discount stores, etc. Out of the mentioned segments, discount stores are more likely to build the highest market share in recent times; this is due to associated benefits such as discounts and free trials before purchase and the value of instant gratification. However, the e-commerce segment is more likely to grow at the fastest pace in the near future as it offers various brand varieties at different ranges without stepping out of the home. The arrival of covid-19 leads to shifting customer preference offline to online purchasing, improving the e-commerce segment, particularly in sports apparel. Furthermore, penetration of the internet and increased use of smartphones for online shopping across the globe allow the consumer to compare products in real-time and make informed decisions, which is another factor triggering the demand for e-commerce compared to other segments.
The United States dominates North America due to increasing sports apparel production and consumption in the region
North America sports apparel market is dominated by the United States, where sports apparel production and consumption are rising. Because of rising health consciousness and the popularity of active lifestyles, the North American region is projected to grow faster withtin the forecast period. Due to merchandise product demand, the United States is leading the growth of the North American economy.
On the other side, due to the growing popularity of e-commerce, China is currently leading the sports apparel industry. The growing demand for international brands and rising disposable income, and a desire to live healthier lifestyles are expected to boost demand for sports apparel. China leads the market in the area and can overtake the United States as the world's leading market in the future, owing to government policies encouraging active involvement in sports. Because of the high demand for sports apparel in Europe, Germany dominates the market. Also, most of the advanced technology-based sports apparel is launched in the country.
The sports apparel market is highly competitive with local and global companies. Some of the key players contributing to the market's growth include ADIDAS AG, SKECHERS USA, INC, Nike, Inc, YONEX Co., Ltd, Columbia Sportswear Company, ASICS Corporation, FILA Luxembourg S.a.r.l, PUMA SE, Jockey, Brooks Sports, Inc and among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the global sports apparel market's growth. The key players are favoring partnership and acquisition as a growth strategy to build their business.
Overview: The company is the flagship brand of Portland, Oregon-based Columbia Sportswear Company. The company is known to create innovative footwear, apparel, accessories and equipment for outdoor enthusiasts since 1938. Columbia has grown into a global leader by channeling its passion for the outdoors and creative spirit into technology and performance goods that keep people safe, dry, cool, and healthy all year.
Omni-Heat Black Dot technology- The patent-pending Omni-Heat Black Dot technology comprises thousands of black dots on the exterior designed to help people warm smarter. Each multilayered dot is designed using aluminum and covered with a black coating to improve heat absorption from scattered or direct sunlight.
The global sports apparel market report would provide access to a 69 market data table, 68 figures and 265 pages.
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