What are the Historical Developments and Current Growth Metrics of the Sports Apparel Market?
The sports apparel market has seen considerable growth due to a variety of factors.
• The sports apparel market has experienced strong growth in recent years. It will expand from $210.58 billion in 2024 to $223.92 billion in 2025 at a CAGR of 6.3%.
This growth can be attributed to increased awareness about fitness and health, the athleisure trend, celebrity endorsements, influencer culture, and the continued growth of e-commerce.
What is the Forecasted Market Size and CAGR for the Sports Apparel Market?
The sports apparel market is expected to maintain its strong growth trajectory in upcoming years.
• The sports apparel market is projected to experience strong growth, reaching $282.42 billion by 2029, with a CAGR of 6.0%.
The growth drivers include sustainability, ethical practices, digitalization, emerging markets, and trends in health and wellness. Key trends in the forecast period include direct-to-consumer brands, inclusivity and diversity, expanded sustainable product lines, AR and VR integration, and fitness tracking.
What Key Factors and Trends Are Driving The Growth Sports Apparel Market?
The surge in interest in sports and fitness activities is anticipated to boost the sports apparel market's expansion. Sports activities, which require physical effort, skills, and competition, typically operate under specific rules and behavioural patterns. Their health advantages, socializing opportunities, stress relief, personal growth, entertainment, and media coverage contribute to the soaring popularity of sports and fitness activities. Sports apparel plays a crucial role in improving the performance, comfort, and safety of athletes during sports and fitness events, adding to a more gratifying and productive workout session. For example, the Sports & Fitness Industry Association (SFIA)'s Topline Participation Report in February 2023 revealed a five-year streak of rising physical activity rates in the United States. Additionally, in 2022, about 77.6% of the total American population or 236.9 million individuals participated in at least one physical activity during the year. Compared to 2021, there was a 1.9% upswing in overall activity participation rates. Thus, the growing interest in sports and fitness activities is fuelling the expansion of the sports apparel market.
What Are The Market Segments In The Sports Apparel Market?
The sports apparel market covered in this report is segmented –
1) By Product Type: Athletic Footwear, Sports Apparel, Accessories
2) By Distribution Channel: E-Commerce, Supermarket Or Hypermarket, Brand Outlets, Discount Stores
3) By End User: Children, Men, Women
Subsegments:
1) By Athletic Footwear: Running Shoes, Training Shoes, Sports-Specific Shoes (Soccer, Basketball, Tennis Shoes), Casual Sports Footwear
2) By Sports Apparel: Tops (T-shirts, Tank tops, Jerseys), Bottoms (Shorts, Sweatpants, Leggings), Outerwear (Jackets, Hoodies, Tracksuits), Sports Bras, Compression Wear
3) By Accessories: Sports Bags, Hats And Caps, Socks, Gloves, Headbands Or Visors, Knee Or Elbow Supports
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What Emerging Trends Are Influencing The Growth Of The Sports Apparel Market?
Leading sports apparel market players are incorporating advanced and innovative technologies like foam technology, to elevate the performance of their products and provide better service to their consumers. Foam technology involves the utilization of novel foam materials and production methods to fabricate garments that are featherweight, supportive, and safe for athletes. For example, in July 2023, Nike, an American footwear company, introduced ReactX, their latest development in foam technology. Nike has updated their InfinityRN 4 model running shoes with this new foam for increased energy return while reducing the carbon footprint compared to earlier models. This innovation marks a significant stride in Nike's dedication towards sustainability and performance in sports footwear. It caters to runner's requirement for supportive cushioning to enable a smooth run. ReactX aims to cut down on the carbon footprint of a pair of midsoles by minimum 43% due to less energy required during manufacturing while raising energy return by 13%.
Who Are the Key Players In The Sports Apparel Market?
Major companies operating in the sports apparel market are:
• Nike Inc.
• Adidas AG
• The Gap Inc.
• Decathlon Group
• Kappa
• VF Corporation
• Puma SE
• Anta Sports Products Limited
• Karhu Holding B.V.
• Skechers USA Inc.
• Ralph Lauren Corporation
• Lululemon Athletica Inc.
• Hanesbrands Inc.
• Under Armour Inc.
• New Balance Athletics Inc.
• ASICS Corporation
• The North Face Inc.
• Columbia Sportswear Company
• Wolverine World Wide Inc.
• Li Ning Company Limited
• Mizuno Corporation
• Brooks Sports Inc.
• Deckers Outdoor Corp.
• Fila Holdings Corp.
• Iconix International
• Reebok International Limited
• Umbro International Limited
What Are The Regional Insights Into The Sports Apparel Market?
North America was the largest region in the sports apparel market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports apparel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
