DUBLIN, June 11, 2021 /PRNewswire/ — The “Sportswear Market – Global Outlook and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The Global Sportswear Market is expected to grow at a CAGR of over 7% during 2020-2026
The demand for sportswear is expected to witness rapid growth due to the changing lifestyle and growing fitness trend. The sustainable sports apparel market is gaining high momentum and attracting a huge number of customers. The rising demand for athleisure wear is surging in India, China, Japan, and other APAC countries, as it provides benefits to the users.
Retailers such as Amazon are introducing athleisure wear, adding a new product to their portfolio. The ongoing sportswear market trends of athleisure wear are generating high revenues from the various brands. The increasing participation of women in sports activity creates lucrative opportunities for the players to grow in the sports apparel market. The changing perception of the people in the Middle Eastern countries about athletics products is driving the growth of the market.
H&M is collaborating with the Swedish Olympic team to expand its product line into athletic products. The advent of COVID-19 across regions is forcing the companies to work from home, encouraging people to involve more in fitness activities.
The UK government is taking steps to organize women’s sports, create awareness about the benefit of sports and fitness activities, and launching various campaigns and programs. With the increase in participation and government initiatives, the market for women’s sports and activewear will continue to grow YoY during the forecast period. Sportswear companies focus on marketing and sales, as this plays a significant role in enhancing their products’ visibility.
Sportswear Market Segmentation
The US is dominating the sportswear apparel and footwear segment and generating the highest market share globally. COVID-19 impacted the demand for athleisure wear as people adopted more of these products, as they are comfortable to wear while working from home. The demand for types of apparel depends upon the weather condition of the region.
Owing to the easy availability of raw materials, cheap labor, and low electricity cost, most of the sportswear brands such as Nike, Lululemon, and others are operating in APAC countries includes Vietnam, China, India, and more. Compression clothing is becoming popular in the sportswear apparel market. Top brands such as Nike have launched their ACG apparel collection, 85% of which is made up of 90% recycled materials.
Men contribute higher share in the global sportswear market compare to other end-user segments. The US is the leader in the men’s activewear market. More than 10 million men are involved across the globe performing yoga out of the total yoga practitioners. The women sportswear segment to witness substantial growth in the upcoming years. The age growth between 25-34 years contributing major share towards the market.
The huge preference for going out, socializing, seeing, and trying the product before buying is likely to keep the market share for offline sales of sportswear high. In Q2 2020, Nike added a new product to its portfolio in Melrose and New York, planning to expand to 150-200 small stores in North America, MEA, and Europe.
The increase in internet penetration is fueling the demand for the online distribution channel in the market. Smartphones are becoming a popular medium for the growth of e-commerce activities. Online distribution channels create lucrative opportunities for the players to expand their market presence worldwide by collaborating with other e-commerce channels or by creating their own websites.
The majority of the population has a great interest in sports. In 2019, Adidas planned to prioritize focus on various categories of sports on the local level. Adidas to adopt this strategy to become the best brand in the market. The rising popularity of football across all regions is boosting the demand for football shoes and apparel. Various brands are launching football shoes with several features benefiting the end-users while playing.
The presence of various international and local players is intensifying the competition in the global sportswear market. Some of the key vendors globally are Nike, Adidas, Under Armour, Lululemon, VF Corporation, Puma, Anta, Jockey International, and others. Players compete in terms of quality, variety, availability, price, and other factors.
New players are entering and catering to a niche segment and later expanding to different segments to gain traction in the market. Companies with high financial resources are enjoying several advantages over the players with less financial resources.
- Nike Inc.
- Puma SE
- Lululemon Athletica Inc
- Under Amour
- VF Corporation
- Anta Sports
Other Prominent Vendors
- Li Ning Group
- Ralph Lauren Corporation
- Columbia Sportswear Company
- New Balance
- Elite Sportswear
- JD Sports
- Outdoor Voices
- Formative Sports
- The Upside
- PE Nation
- Hoka One One
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7.1.1 Sustainable Sportswear: A Key Focus
7.1.2 High-Tech Sportswear
7.2 Raw Material Insights
7.2.1 Fibers And Yarns: Sportswear
7.3 Customer Behaviour Analysis
7.3.3 Attitude and Personality
7.4 Value Chain Analysis
7.4.1 Raw Material and Suppliers
7.4.3 Marketing & Sales
7.5 Profit Margin
7.6 Impact Of COVID-19
8 Market Opportunities & Trends
8.1 Rising Popularity of Athleisure Wear
8.2 Increasing Participation of Women In Sports and Fitness Activities
8.3 Rise in Demand For Sustainable Sportswear
9 Market Growth Enablers
9.1 Expanding Population of Health-Conscious Individuals
9.2 Growing Popularity of Outdoor Activities
9.3 Increasing Participation in Sports
10 Market Restraints
10.1 Easy Availability of Counterfeit Products
10.2 Fluctuation in Raw Material Prices
10.3 Low Penetration of Sportswear In Developing Countries
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.4 Footwear & Accessories
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
14 Distribution Channel
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
15 Activity Type
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3.1 Market Overview
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/ki6he6
Research and Markets
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