Global Sports Apparel Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Sports Apparel market is estimated to witness a CAGR of 4.11% during the forecast period (2021 - 2026).

Key Highlights

• Rising health and self-consciousness, desire to lead active lifestyles and to appear fit, is encouraging consumers to incorporate sports and fitness activities into their daily routine. This increased participation has led to a change in market dynamics, leading to an increased demand for sports apparel.
• The rising participation of women in professional and domestic sports and fitness activities is expected to drive the market over the forecast period. The rising crossover between sports and fashion, which had led to an increased presence of fashionable sports apparel, which is expected to further fuel the interest of women.
• The availability of sports apparel with enhanced properties such as moisture management, temperature control, and other performance-boosting characteristics that prevent discomfort and potential injury, has captured the interest of consumers, who have been observed to be willing to pay more for such additional benefits.

Key Market Trends

Rising Demand for Fashionable Sports Apparel

The demand for fashionable sports apparel is on the rise as they are versatile, convenient, trendy, and can be worn for a variety of occasions. This increased emphasis on style has been capitalized by key players in the market studied, who have introduced innovative, technically advanced products which are both comfortable and practical, to cater to this demand, which has, in turn, increased their profitability.

Asia-Pacific is the Fastest Growing Market

Asia-Pacific is the fastest-growing region in the global athletic footwear market, owing to countries such as China and India which have a higher percentage of young population. The increasing appetite for foreign brands, and rising disposable income, coupled with the desire to lead improved lifestyles are expected to positively impact the demand for sports apparel in the region. China, backed by government initiatives to encourage active participation in sports, is leading the market in the region and has the potential to surpass the United States as the leading market worldwide in the future.

Competitive Landscape

Global Sports Apparel market is fragmented and comprises of a handful of large international and regional players. Some of the major players in the market are 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, Amer Sports Corporation, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support