Sports Apparel Market Outlook 2031
The global sports apparel market size was USD 230.60 Billion in 2031 and is estimated to reach USD 389.59 Billion by 2031 expand at a robust CAGR 6% during the forecast period, between 2023 to 2031. Sports apparel, often known as fitness wear, is the clothes worn while participating in fitness activities such as aerobics, weight training, swimming, jogging, and yoga.
They are made to give agility and comfort while doing physical motions. Sports clothing is constructed of breathable material, which helps sweat to escape faster, allowing the person wearing it to stay fresh for long time. Polyester, microfiber, spandex, and calico are some of the most frequent materials utilized in the manufacture of these garments. Initially, sports gear was largely worn by athletes, but it has since become popular with other non-athletes and regular gym-goers.
Sports Apparel Market Trends, Drivers, Restraints, and Opportunities:
- Increased use of fitness activities such as swimming, gym, aerobics, yoga, and running is projected to drive the market.
- Rising participation of women in fitness and sports activities fuels the sports clothing market.
- Educational institutes and government are encouraging kids to participate in sporting activities, which is fueling the market.
- Aggressive advertising and celebrity endorsements have boosted the sports apparel market.
- Desire to keep an athletic appearance while following the current fashion trends is driving the sportswear market.
- Rising disposable income is expected to drive the market.
- Fluctuating pricing of raw materials used to make garments, as well as the accessible availability of counterfeit goods, are the key barriers for the market.
- High initial investment and prices of sports gear are the primary limitations for the market expansion.
- Growth in demand for attractive and stylish sports apparel, as well as an increase in the popularity of sports apparel among youngsters, is expected to create opportunities for the sports apparel market.
Scope of the Sports Apparel Market Report:
The report on the sports apparel market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Sports Apparel Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Products (Pants & Tights, Surf & Swimwear, Sweaters & Hoodies, and Tops & T-shirts), Distribution Channels (Brand Outlets, Discount Stores, E-commerce, and Supermarket/Hypermarket), End-Users (Men, Women, and Children)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Adidas AG; New Balance; Under Armour, Inc; FILA Inc.; Columbia Sportswear Company; Ralph Lauren Corporation; Nike, Inc.; PUMA SE; Lululemon Athletica Inc.; and Umbro
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Sports Apparel Market Segment Insights:
The tops & t-shirts segment is projected to hold significant market share
Based on products, the sports apparel market can be segmented into pants & tights, surf & swimwear, sweaters & hoodies, and tops & t-shirts. The tops & t-shirts segment is projected to hold significant market share. The number of Gen Z people and millennial coming to the gym has expanded enormously, which is contributing to increasing sales of t-shirts and tops. Furthermore, the manufacture of high-quality fabrics to boost performance is propelling the segment.
The discount stores segment is anticipated to account for a substantial share
On the basis of distribution channels, the market can be fragmented into brand outlets, discount stores, e-commerce, and supermarket/hypermarket. The discount stores segment is anticipated to account for a substantial share, due to alternatives like trials before purchase and discounts, as well as the benefit of instant satisfaction.
The e-commerce segment is projected to expand at a rapid pace during the forecast period, owing to increased usage of smartphones for online shopping and growing internet penetration, which allows consumers to compare products in real-time and make informed selections.
The men segment is estimated to hold major market share
In terms of end-users, the sports apparel market can be segregated into men, women, and children. The men segment is estimated to hold major market share, due to increased male engagement in sports. The women segment expands at a robust pace in the coming years. The increased engagement of women in domestic and professional sports and fitness activities is estimated to drive the segment.
The growing crossover between fashion and sports has resulted in an increasing presence of fashionable sports apparel, which is projected to increase women's interest.
North America is expected to dominate the market
In terms of regions, the market is classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to dominate the market, owing to highly evolved retail system and increased acceptance of sports apparel as a result of aggressive advertising and celebrity brand endorsement. Furthermore, increased consumer spending on fitness apparel as a fashion statement contributes to the appeal of sportswear in the region.
Segments
By Products
- Pants & Tights
- Surf & Swimwear
- Sweaters & Hoodies
- Tops & T-shirts
By Distribution Channels
- Brand Outlets
- Discount Stores
- E-commerce
- Supermarket/Hypermarket
By End-Users
By Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
By Key Players
- Adidas AG
- New Balance
- Under Armour, Inc
- FILA Inc.
- Columbia Sportswear Company
- Ralph Lauren Corporation
- Nike, Inc.
- PUMA SE
- Lululemon Athletica Inc.
- Umbro
Competitive Landscape
Key players in the sports apparel market include Adidas AG; New Balance; Under Armour, Inc; FILA Inc.; Columbia Sportswear Company; Ralph Lauren Corporation; Nike, Inc.; PUMA SE; Lululemon Athletica Inc.; and Umbro.
These players are widely engaged in several business development activities including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.
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