The global Sports Apparel market size is projected to reach approximately $ 251 Billion by 2030, at a CAGR of 5.3% from 2022 to 2030. Sports apparel are clothes that are worn while performing strenuous physical activities, which include workout sessions or playing any type of sport. They are designed in such a way that they offer agility as well as comfort while performing any physical activity and movement. Sports apparel is made of breathable fabric that allows sweat to evaporate quickly, thus allowing the wearer to remain fresh for a longer period. The fabrics which are generally used to make sports apparel are spandex, polyester, microfiber, and calico. Sports apparel was initially used by athletes but later on, it became very common among gym-goers and other non-athletes. Sports apparel has been highly adopted in mature regions including Germany, the US, and Canada, and developing countries such as India, China, and Brazil are also increasing their demand.
COVID-19 Impact Analysis
Due to the outbreak of the Coronavirus, there have been a lot of industry restrictions and lockdowns. As a result, customer store attendance has gone down and so have sales. For example, Business Wire had posted that Columbia Sportswear Company saw a 13% decrease in revenue this quarter due to the eruption of Covid-19. Furthermore, the waiting time for goods to be shipped also decreased sales. Citing data from the Economic Times, the data released in February 2021 shows that the pandemic reduced world maritime trade by 4.1 percent in 2020.
Market Dynamics
The factors driving the growth of the global Sports Apparel market include the increasingly affluent population in developing countries, a rise in health awareness, and the growing adoption of physical activities such as yoga, aerobics, swimming, and running. Furthermore, aggressive advertisements and celebrity endorsements, a surge in the number of women participating in sports and fitness activities, increasing demand for fashionable sports apparel as well as the growing popularity of sports apparel among kids are expected to further fuel the market growth.
Drivers:
⮚     Rising Demand for Fashionable and Trendy Sports Apparel
Over the years, there has been a trend of an increasing consciousness among modern consumers concerning their physical fitness as well as their appearance. As a result of this, consumers are increasingly motivated to try out different types of physical activities including yoga, cycling, Zumba, and running, among many others which significantly drive the demand for sports apparel. In addition to this, consumers also desire to maintain a sporty yet trendy and fashionable look while performing these activities. This further encourages sports apparel companies to produce items that will satisfy their customers’ demands and desires. Sports apparel brands are thus producing attractive and stylish sports apparel that complements their physical attributes. In recent years, the top players in the sports apparel market have been highly focusing on innovation in designing the apparel due to their growing role in improving the athlete’s overall performance. Therefore, the increasing demand for fashionable and trendy sports apparel is driving the market growth significantly.
Restraint:
Ø The Rise in Counterfeit Products may hinder growth in the market
Counterfeit goods in many categories, including footwear, clothing, and leather accessories have been growing rapidly over the past years. This has slowed down the growth of the market to a certain degree. For example, according to data from the Organization for Economic Co-operation and Development published in March 2019, the trade in counterfeit goods is 3.3% of world trade
Opportunity:
⮚     Aggressive Advertisement and Celebrity Endorsements
The top key players in the sports apparel market are constantly trying to improve and update their market strategies, in spite of the increasing popularity of sports apparel, as a result of intense market competition. In order to achieve sustainability and maintain their top position, sports apparel companies need to compete effectively in all areas. Endorsements and kit sponsorships are a large part of marketing strategies used by the majority of the companies. For instance, Nike Inc., one of the topmost sports apparel companies pays some of the top athletes in the world such as Cristiano Ronaldo, Neymar, LeBron James, and many others for endorsing the brand as well promoting their different sports products and apparel. Moreover, the major companies also sponsor uniform kits for many sports clubs and teams around the world. the aggressive advertisements thus help fuel the growth of the sports apparel market.
Segment Overview
By Product Type
Based on the Product Type, the Sports Apparel market is segmented based on Tops & T-shirts, Hoodies & Sweatshirts, Jackets & Vests, Shorts, Socks, Surf & Swimwear, and Pants & Tights. The Tops & T-shirts Segment is anticipated to account for the large market share. Over the years, the millennial, and Gen Z population participating at gyms has increased exponentially. As a result of this, there have been many increases in sales from t-shirts, to tops. With this comes an increased want for quality fabrics to improve performance.
By Distribution Channel
Based on Distribution Channel, the global Sports Apparel market has been divided into E-Commerce, Supermarket/ Hypermarket, Online Channel, Institutional Channel, Franchised Sports stores, Independent Sports stores, Modern Trade channels, Brand Outlets, and Discount stores. The E-Commerce segment is expected to hold the largest market share. A lot of businesses have started to sell their products, services, and content via e-commerce platforms. This is usually popular among people who are short on time in today’s society, as ordering products online saves them from having to travel to malls or shops.
By End-User
Based on End-User, the global Sports Apparel market has been divided into Children, Men, and Women. It is anticipated that the men segment will hold the greater proportion of the global market due to an increasing amount of men becoming involved in outdoor activities.
Global Sports Apparel Market Share, by Segmentation
Regional Analysis
Based on region, the global Sports Apparel market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to dominate the use of the Sports Apparel market followed by the Asia-Pacific and Europe regions.
North America Market
North America dominates the global sports apparel market which is attributed to the increasingly improved retail structure as well as a surge in adoption of sports apparel as a result of aggressive celebrity brand endorsement and advertising. In addition to this, increasing expenditure by consumers on sports apparel as it is considered a style statement further fuels the market growth in this region.
Asia-Pacific Market
The Asia Pacific is expected to witness the highest growth during the forecast period, owing to the highly evolving retail infrastructure along with the rising disposable income of consumers in the Asia Pacific region. China accounts for the highest demand due to increasing population growth in the country. Furthermore, changing lifestyles, rising disposable income, and increasing health awareness contribute to the growth of the sports apparel market in the region.
Competitive Landscape
The market comprises tier-1, tier-2, and local players. With their wide product portfolios, tier-1 and tier-2 players have a global reach. Because of their strategic innovations and broad regional presence, companies such as Adidas, Nike, Inc., Puma SE, Under Armour, Inc., Ralph Lauren, Umbro Ltd., Fila, Lululemon Athletica, New Balance, Columbia Sportswear Company, lead the global Sports Apparel business. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as growth, product releases, and alliances.
Prominent Players:
- Adidas
- Nike, Inc.
- Puma SE
- Under Armour, Inc.
- Ralph Lauren
- Umbro Ltd.
- Fila
- Lululemon Athletica
- New Balance
- Columbia Sportswear Company
In January 2020, Nike Inc. Developed a knee-length bodysuit for women to be used in tennis matches. This bodysuit is designed to keep players cool during tennis matches. This garment is informed by Atlas body-mapping in order to identify the areas that overheat quickly and is pieced together to increase breathability in those areas.
Scope of the Report
Global Sports Apparel Market, by Product Type
- Tops & T-shirts
- Hoodies & Sweatshirts
- Jackets & Vests
- Shorts
- Socks
- Surf & Swimwear
- Pants & Tights
Global Sports Apparel Market, by Distribution Channel
- E-Commerce
- Supermarket/ Hypermarket
- Online Channel
- Institutional Channel
- Franchised Sports Store
- Independent Sports Store
- Modern Trade Channel
- Brand Outlets
- Discount Stores
Global Sports Apparel Market, by End-Use
- Children
- Men
- Women
Global Sports Apparel Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia Pacific
- Rest of the World
| Parameters | Indicators |
|---|---|
| Market Size | 2030: $ 251 Billion |
| CAGR | 5.3% CAGR (2022-2030) |
| Base year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Segmentations | Product Type, Distribution Channel, End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, Middle East, Africa |
| Key Vendors | AAdidas, Nike, Inc., Puma SE, Under Armour, Inc., Ralph Lauren, Umbro Ltd., Fila, Lululemon Athletica, New Balance, Columbia Sportswear Company |
| Key Market Opportunities | Aggressive Advertisement and Celebrity Endorsements |
| Key Market Drivers | Rising Demand for Fashionable and Trendy Sports Apparel |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Sports Apparel market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Sports Apparel market historical market size for the year 2020, and forecast from 2021 to 2028
- Sports Apparel market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Sports Apparel market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
