Sportswear Market Size, Share, Growth & Industry Report 2031

Report Description

The global sportswear market size was valued at nearly USD 182.22 Billion in 2022 and is anticipated to reach USD 323.90 Billion by 2031, expanding at a CAGR of 6.6% during the forecast period,  2023–2031. Sportswear refers to a broad category of fashion-oriented, comfortable apparel that is loosely based on clothing designed for participation in sports.

Sportswear refers to shoes, clothing, and accessories that are specifically designed for athletic apparel use. To suit different sports, it offers benefits such as specified functions, good thermal qualities, sustainability, comfort, specific fabric weight, and many other properties.

Get Free Sample Report

Swimwear can be made of a variety of materials and many of these clothing items are mostly water-resistant. Some advanced features are fixed with the clothing to allow them to flex with the body, while others have thermal properties to keep the athlete's body warm in cold weather and cool in hot weather.

Sportswear Market Trends, Drivers, Restraints, and Opportunities

• Improving products' ability to provide breathability and sweat-wicking as well as enhancements to physical activity are expected to boost the market growth.
• Growing number of women participating in multiple sports sectors acts as a key driver of the market growth.
• Consumers' growing health consciousness and growing need for comfortable yet fashionable clothes are propelling the market expansion.
• Rapidly changing fashion trends, advancements in sportswear manufacturing technologies, as well as the increased global desire for premium sportswear are driving the market growth.
• Rising number of counterfeit products in clothes, footwear, leather goods, and other categories along with the high prices of products are major challenges that can hamper the market growth.
• Increasing usage of smart sportswear for improving workout routines as these clothing provide real-time feedback and monitor performance present immense opportunities for the market.

Scope of Sportswear Market Report

The report on the global sportswear market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Sportswear Market Segment Insights

Type Segment Analysis

Based on product type, the sportswear industry is segregated into apparel, footwear, and wearables. The apparel segment is projected to hold a significant market share, owing to the high demand for products for a variety of sports such as basketball, football, tennis, and others.

Similarly, the growing popularity of using athletic apparel as fitness wear contributes to the rising consumption rate. The number of Gen Z and millennials going to the gym has increased dramatically, which is helping to boost sales of gym apparel like t-shirts and tops.

In addition, the production of high-quality materials to improve performance is moving the segment forward. Increased sports activities worldwide as well as growing knowledge for various fitness programs are driving the segment growth. Technological improvements such as fast-drying fabrics and t-shirts that can measure heart rate presents another key driver of the segment.

End-user Segment Analysis

On the basis of end-user, the market is segmented into children, men, and women. The men segment is anticipated to account for a substantial share of the market, due to increased male engagement in sports. A huge percentage of men normally participate in outdoor activities such as rock climbing, cycling, trekking, and other similar hobbies.

On the other hand, the women segment is expected to expand at a robust pace in the near future. The increased engagement of women in domestic professional sports and their growing concerns for fitness activities are key factors further driving the segment's growth.

The growing crossover between fashion and sports has resulted in an increase in the presence of fashionable athletic apparel, which is projected to further increase women's interest for sportswear.

Get Free Sample Report

Distribution Channel Segment

In terms of distribution channels, the sportswear market is bifurcated into retail stores and e-commerce stores. The retail stores segment is anticipated to register a substantial growth rate during the forecast period, owing to the growing number of popular athletic companies around the world.

Moreover, the number of retail stores is expanding due to the presence of a huge number of consumers who want to prevent shipping delays, mismatches, and hassles with returns and replacements.

Retail stores offer a diverse range of products and brands to expand consumers’ choices. Furthermore, such stores provide support from sales executives, which contributes to the segment's growth.

Regional Analysis

In terms of region, the sportswear market is classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to dominate the market, due to the presence of important industry actors such as Adidas and Nike, which have a large share of the North American sports apparel market in terms of sales.

The popularity of sports such as soccer and basketball as well as the increased health consciousness of a large number of the regional population present another key factor driving the market expansion. Moreover, improved living conditions and cheap manufacturing costs are driving regional market growth.

Get Free Sample Report