Basketball Apparel Market to grow by USD 5.93 billion from 2023 to 2028; 47 Brand LLC, Adidas AG, ANTA Sports Products Ltd. and more among key companies- Technavio

NEW YORK, Nov. 20, 2023 /PRNewswire/ — The basketball apparel market is estimated to grow by USD 5.93 billion from 2023 to 2028, growing at a CAGR of 6.45%. The basketball apparel market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer basketball apparel market are 47 Brand LLC, Adidas AG, ANTA Sports Products Ltd., ASICS Corp., Authentic Brands Group LLC, Berkshire Hathaway Inc., Decathlon SA, FILA Holdings Corp., Iconix International, Mcdavid, Mitchell and Ness Nostalgia Co., New Balance Athletics Inc., Nike Inc., POINT 3 Basketball, PUMA SE, Russell Brands LLC, SUNLIGHT SPORTS PTE LTD., Under Armour Inc., United Sports Brands, and Ballislife LLC.

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Company Offering:

• 47 Brand LLC – The company offers basketball apparel such as Franklin, Scrum, Lacer, Shortstop Hood and other apparel.
• Adidas AG – The company offers basketball apparel such as legend 3 stripes basketball shorts, Icon squad shorts, Trae HC hoodie, and others.
• ASICS Corp – The company offers basketball apparel such as Asics basketball shoes like Glide Nova FF3, GelhoopV15, Nova Flow 2 and others.
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By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America will have the largest share of the market.

• North America is estimated to account for 34% of the global market growth during the forecast period. The growth of the North American market is mainly driven by the increasing awareness of basketball as a healthy sport in the region. Compared to other regions, basketball is more popular in North America, and a majority of the population prefers it over football. Additionally, some of the most popular and influential basketball players in the world, including LeBron James, Michael Jordan, Kobe Bryant, and Kevin Durant are from the region.

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• Impactful driver- Introduction of various national and international basketball tournaments.
• Key Trend – Introduction of connected basketball apparel
• Major Challenges – The increase in the availability of counterfeit products 

 Market Segmentation

• The male segment is estimated to witness significant growth during the forecast period. This segment comprises a variety of basketball apparel such as shorts, hoodies, jerseys, tops, long-sleeve t-shirts, t-shirts, basketball pants, basketball tights, and more. Moreover, the popular male basketball tournaments include Basketball at the Summer Olympic Games, EuroBasket, FIBA Americas Championship, FIBA World Championship, and FIBA Oceania Championship.

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The racing apparel market share is expected to increase by USD 1.20 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.16%.

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Distribution Channel

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio