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, Oct. 2, 2023 /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

Company Offering:

• 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.

• Impactful driver- Product premiumization due to the introduction of more innovative sports apparel
• Key Trend – Technological advancements in sports apparel
• Major Challenges – Volatile raw material prices

 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

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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 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Distribution Channel

7 Market Segmentation by End-User

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio