Sports Apparel Market size is to grow by USD 75.6 billion from 2022 to 2027, The market is fragmented due to the presence of prominent companies like Adidas AG, ASICS Corp. and Berkshire Hathaway Inc., and many more, Technavio

NEW YORK, March 7, 2024 /PRNewswire/ — The sports apparel market size is estimated to grow by USD 75.6 billion from 2022 to 2027, growing at a CAGR of 6.82%. The sports apparel market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer sports apparel market are Adidas AG, ASICS Corp., Berkshire Hathaway Inc., Columbia Sportswear Co., Decathlon SA, Fila Holdings Corp., Group Rossignol USA Inc., Hanesbrands Inc., Iconix International, K Swiss Inc., Levi Strauss and Co., Li Ning Co. Ltd., lululemon athletica Inc., Mizuno USA Inc., New Balance Athletics Inc., Nike Inc., PUMA SE, Ralph Lauren Corp., Under Armour Inc., VF Corp., and Yonex Co. Ltd. 

The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying

Key Company:

• ASICS Corp. – The company offers sports apparel such as Nagino Run Unitard, Nagano 4in run short, and Nagino seamless tight.
• Adidas AG – The company offers sports apparel such as Lift Your Mind tee, Lift Your Mind windbreaker, and city escape graphic tee.
• Berkshire Hathaway Inc. – The company offers sports apparel such as men’s essential 1902 graphic tee, men’s cotton performance t-shirts, and men’s basic jersey cotton shorts.

For details on companies and their offerings – Buy the report!

By Geography, the market is classified as North America, APAC, Europe, South America, Middle East and Africa. North America will have the largest share of the market.

• North America is estimated to contribute 37% to the growth of the global market during the forecast period. Increasing people’s participation in sports, such as basketball and rugby, is one of the major factors that has led to an important growth rate in the sportswear market in North America. North America’s popular marathon races are also well known. The Boston, Chicago, and New York City marathons are some of the most popular. In addition, America is famous for other popular sports such as hockey, racket sports, basketball, rugby, lacrosse, racing, and football. Consequently, several players have been incentivized to introduce new product lines as a result of rising consumer participation in sporting activities. Hence, these factors are expected to drive market growth in the region during the forecast period.

Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.

 Market Segmentation

• By Distribution Channel, the market is classified into offline and online. The offline is estimated to witness significant growth during the forecast period. Retail sales of winter sportswear through specialty shops, department stores, hypermarkets, and warehouse clubs are included in the offline segment. Geographical location, customer segments, staff availability, and the ease of inventory transport are some major parameters to be considered to operate these retail stores. The growth of the segment is driven mainly by specialty shops, as they offer increased product visibility, a more pleasant shopping experience, and many products at competitive prices that help market players increase their customer base. Hence, these factors are expected to drive segment growth during the forecast period.

Technavio Research experts have provided more insights on the market share of segments – View a Sample Report

Analyst Review

The sports apparel market is a dynamic sector within the broader realm of clothing and accessories, catering to a diverse range of consumers, from athletes to fitness enthusiasts. Within this domain, garments such as jerseys, shorts, t-shirts, and leggings are crafted with precision using lightweight and breathable materials. These fabrics are engineered to possess moisture-wicking properties, ensuring body temperature regulation and enhanced comfort during intense workouts. Incorporating compression technology and stretchability, these ergonomic designs not only boost performance but also allow for self-expression through team colors, logos, and personal style.

Professional athletes and amateurs alike seek apparel that augments their overall sporting experience, aligning with consumer preferences for athleisure wear that seamlessly transitions from gym to street. With the rising focus on health & fitness and an active lifestyle, there has been a notable change in consumer demands towards technologically advanced apparel, including moisture-wicking fabrics, enhanced compression technology, and superior temperature regulation.

Moreover, consumers are increasingly drawn to apparel with antimicrobial properties, emphasizing both performance and comfort while fostering hygiene. Influencer marketing and brand collaborations with social media influencers, professional athletes, and celebrities amplify brand visibility and desirability, intensifying competition between established players and emerging brands.

Innovation and R&D drive the creation of unique products, opening avenues for growth opportunities in both e-commerce and virtual fitness platforms catering to activities like yoga, cycling, and running. As sustainability takes center stage, there’s a notable shift towards eco-friendly and ethically produced products, prompting scrutiny of manufacturing processes and appealing to conscious consumers.

Distribution channels vary from brand outlets to discount stores, with e-commerce emerging as a dominant force. The market witnesses mergers, acquisitions, and collaborations, reshaping buyer-supplier dynamics and market segments. Amidst these current trends and estimations, the dynamics of the sports apparel market continue to evolve, finding new application areas while meeting the ever-changing needs of consumers worldwide.

View a Sample Report

Market Overview

The sports apparel industry continues to thrive, catering not only to athletes but also to fitness enthusiasts worldwide. With a focus on performance and style, clothing brands offer a plethora of options, from jerseys to shorts and T-shirts, appealing to diverse preferences. Accessories complement the ensemble, enhancing both functionality and fashion. Garments designed for various sports activities are meticulously crafted, meeting the demands of rigorous training and competition. Key players in the market constantly innovate, integrating advanced materials and technologies to enhance athletic performance. As the market expands, the competition intensifies, driving brands to continuously elevate their offerings to meet the evolving needs of consumers.

View a Sample Report

Related Reports:

The US – Running Apparel and Footwear Market size is estimated to grow at a CAGR of 7.15% between 2022 and 2027. The market size is forecast to increase by USD 11.86 billion.

The licensed sports merchandise market size is estimated to grow by USD 7,579.21 million between 2022 and 2027. The market is accelerating at a CAGR of 4.7%.

TOC:
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact US:

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio