The key players have also relied on product launch to improve their product portfolio and stay relevant in the global market.
The players in the sports apparel market have adopted acquisition as their key development strategy to increase profitability, and to improve stance in the sports apparel market share. However, China is expected to grow with the highest CAGR throughout the forecast period, owing to rapidly improving retail infrastructure and increasing disposable income of consumers in this region.
Moreover, higher expenditure of the consumers on fitness apparel due to it being considered a style statement also adds to the popularity of sports apparel in this region.
This can be attributed to the highly evolved retail structure and higher adoption of sports apparel due to aggressive advertising and celebrity brand endorsement. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.īy region, U.S. Based on distribution channel, it is segmented into E-commerce, supermarket/hypermarket, brand outlets, and discount stores. On the basis of end user, the market is divided into children, men, and women. The sports apparel market has been segmented based on end user, distribution channel, and region. Get more information on this report : Request Sample Pages On the contrary, growth in demand for trendy and fashionable sports apparel and increase in popularity of sports apparel among children are anticipated to provide growth opportunities for the sports apparel market. However, fluctuating prices of raw materials used in making such clothing and easy availability of counterfeit products act as the major restraint for this market. In addition, aggressive advertisements and celebrity endorsement has also helped the sports apparel industry to pave its way toward growth. Moreover, rise in participation of women in sports and fitness activities fuels the sports apparel market growth. Furthermore, growth in health awareness and increase in adoption of fitness activities such as aerobics, swimming, running, and yoga among consumers drive the market growth. Sports apparel has been gaining traction in emerging market, owing to rise in the affluent population. The adoption of sports apparel has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly. Initially, the sports apparel was mostly worn by athletes but, with time, it became quite common with regular gym-goers and other non-athletes. Polyester, microfiber, calico, and spandex are some of the most commonly used fabrics in the production of these clothing. Sports apparel are made using breathable material that allows sweat to evaporate faster, helping the person wearing it remain fresh for longer. They are designed in a way that provides comfort and agility while performing physical movements. Sports apparel are clothes worn during strenuous physical activities such as during workout sessions or while playing sports. In 2018, the men end user segment accounted for more than half of the share in the total sports apparel market, and is expected to grow at a CAGR of 4.6% throughout the forecast period. The sports apparel market was valued at $167.7 billion in 2018 and is estimated to reach $248.1 billion by 2026, registering a CAGR of 5.1% from 2019 to 2026.
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