The Sports Apparel Market was valued at USD 18.27 Billion in 2022, and it is expected to reach USD 28.77 Billion by 2029, exhibiting a CAGR of 6.7% during the forecast period (2023-2029)
Sports Apparel Market Overview:
Maximize Market Research (MMR) conducts an in-depth analysis of the global Sports Apparel Market, examining each sector and taking into account both global and regional trends. The report ensures a balanced market overview by extensively covering the primary drivers and significant restraints. To offer readers a comprehensive understanding of the Sports Apparel Market, the report is organized into distinct sections, encompassing Products, Applications, Retailers, and Regions. Furthermore, the report provides long-term industry forecasts for the global Sports Apparel Market, allowing for informed decision-making.
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Sports Apparel Market Scope
This report provides an extensive analysis of the Sports Apparel Market, encompassing its presence at country, regional, and global levels. The regional analysis offers insights into the Sports Apparel Market's penetration, competitive landscape, and demand dynamics at the local, regional, and global scales. The data utilized in this analysis is obtained through a combination of primary and secondary research methods. The primary research methods involve surveys, telephonic interviews with industry specialists, market leaders, entrepreneurs, and marketing professionals. Secondary data, sourced from reliable and selected references, includes official databases from various organizations, industry journals, white papers, and annual reports, ensuring the reliability of the obtained insights.
Sports Apparel Market Dynamics:
The new standard and a battleground is athleisure. Athleisure was a huge trend prior to COVID-19, but the pandemic has helped to further blur the lines between work and play, and there is a rising acceptance of casual attire in previously more professional settings. Sports goods companies must rely on their innovation capabilities and market knowledge to compete in this more congested industry as fashion brands quickly enter this space. Athletic items need to have a clear value proposition, emphasise material and design innovation, and leverage sports DNA because the athleisure sector is extremely competitive. The physical activity gap is an opportunity to increase everyone's access to healthy lifestyles.
Segmentation:
The market is divided into Top Wear, Bottom Wear, and Support products based on Product Type. The market share leader and projected to reach USD 76.2 billion in 2022 is the Top Wear sector. Throughout the forecast period, this market segment is anticipated to expand at a CAGR of 5.2%. A major component influencing market demand is consumers' growing preference for top wear sports apparel over other top wears. T-shirts, sweatshirts, sports vests, sports hoodies, and other items make up the top wear category. With 34.7% of global sales in the Top Wear section coming from the United States in 2022, this country was the segment's largest regional market.
Men, Women, and Children are the market segments based on End-Use. The Men end-use segment now holds the biggest market share and is anticipated to surpass it by USD 129.3 billion throughout the forecast period. This market's expansion is related to both the increased participation of men in sports and physical activity and the growing popularity of sportswear due to its fashionable design and comfortable fit. During the projection period, the Women end-use sector is anticipated to expand at a CAGR of 7.19%. The market expansion of the sector is being driven by cultural shifts and the rising engagement of women in several sports, yoga, fitness centres, and other physical activities. In addition, women make up a larger percentage of runners than do men.
The market is divided into Online and Offline segments based on Distribution Channel. The Offline segment accounted for the greatest market share of xx% in 2022 and is anticipated to continue to dominate the market during the projected period by 87.98 billion. Because they sell goods from global brands like Adidas, Nike, and others, stores, hypermarkets, and specialised showrooms are becoming more and more well-liked, which is why the offline industry is expanding. Choices like discounts and free trials before purchases, as well as the advantage of instant gratification, are credited with the segment's rise. During the projection period, the Online segment is anticipated to experience the highest CAGR of 8.71%. increased online usage of smartphones and the internet
by Product
Top Wear
Bottom Wear
Support items
by End-use
Men
Women
Children
by Distribution Channel
Online
Offline
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Sports Apparel Market Key Players are:
1. Nike Inc.
2. Fila
3. Lululemon Athletica Inc.
4. New Balance
5. Under Armour Inc.
6. Columbia Sportswear Company
7. Puma Se
8. Adidas AG
9. Umbro
10. Ralph Lauren Corporation
11. Anta International Group Holdings Ltd.
12. Li Ning Company Limited
13. VF Corporation
14. Jockey
15. Lotto Spa
16. Everlast Worldwide, Inc.
17. Brooks Sports, Inc.
18. Diadora S.p.A.
19. Million Special Industries Co. Ltd.
Regional Analysis
The report offers a comprehensive analysis of the growth pattern of the global Sports Apparel Market, providing detailed insights into its trajectory. It focuses on the most influential regions in the Sports Apparel Market, including North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa, which collectively have a global impact. The forecast of the Sports Apparel Market for each country incorporates significant indicators such as consumption quantities, manufacturing sites and volumes, import-export analysis, price trend analysis, cost of raw materials, and value chain analysis. These indicators play a vital role in understanding the market dynamics and predicting its future trends.
Key Questions answered in the Sports Apparel Market Report are:
- What is the Sports Apparel Market?
- What is the forecast period of the Sports Apparel Market?
- What is the competitive scenario of the Sports Apparel Market?
- Which region held the largest market share in the Sports Apparel Market?
- What are the opportunities for the Sports Apparel Market?
- What are the restraining factors in the Sports Apparel Market?
- Who are the key players of the Sports Apparel Market?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth Drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis of Sports Apparel Market
- Landscape- Leading key players and other prominent key players.
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