Sports Apparel Market – Global Industry Analysis and Forecast (2022-2029)

Sports Apparel Market was valued at USD 171.25 Billion in 2021, and it is expected to reach USD 287.70 Billion by 2029, exhibiting a CAGR of 6.7% during the forecast period (2022-2029)

Sports apparel, often known as sportswear or activewear, is clothing worn for physical activity or sport. For practical, comfort, or safety reasons, most sports and physical activities necessitate the use of sport-specific apparel. Sport-specific attire includes tracksuits, shorts, T-shirts, and polo shirts. Specialized gear includes swimsuits (for swimming), wet suits (for diving or surfing), ski suits (for skiing), and leotards (for gymnastics). Sports footwear includes trainers, football boots, riding boots, and ice skates. Sportswear is sometimes used as casual fashion apparel. As the economy and money develop, people are looking for the best pick among the various available brands. As a result, the sports products industry is always growing in reaction to product demand. Overall, the sports clothing business in India has significant commercial potential, notably in the areas of marketing, management/sponsorship, and selling and exporting sports goods.

The largest chances are related with the prospective reintroduction of huge sporting events, such as the Olympic and Paralympic Games, as well as the continued popularity of outdoor and home-based sports. Outdoor individual sports, home exercise, yoga, e-sports, and virtual racing are among the categories that are expected to stay popular over the forecast period. Fashionable sports gear is in high demand since it is adaptable, handy, trendy, and can be worn for a number of circumstances. This increased emphasis on style has been seized on by important companies in the market examined, who have produced novel, technologically sophisticated items that are both comfortable and functional to meet this demand, increasing their profitability. Another element driving market expansion is the need for attractive colour combinations in various sports activities. As conventional black and white hues are phased out, demand for pastel colours has spread beyond yoga clothes and into the greater sports gear business.

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Sports Apparel Market Dynamics
Change in Buying Behaviour Consumers after COVID-19 Pandemic
Athleisure is the new standard and a battleground. Before COVID-19, athleisure was a megatrend, but the pandemic has contributed to further blur the barriers between work and leisure, and there is a growing acceptance of relaxed clothes in formerly more formal circumstances. With fashion brands rapidly entering this area, sports goods companies must rely on their innovative skills and market understanding to compete in this more crowded arena. Athleisure is a highly competitive market, thus athletic products must have a clear value proposition as well as an emphasis on material innovation, design innovation, and leveraging of sports DNA. The physical activity gap is an opportunity to make healthy lifestyles more accessible to all.

Unfortunately, there is already a physical-activity difference connected to economic levels, with less-affluent households exercising less. The crisis will push more households into lower-income categories, widening the physical-activity disparity. As a result, the athletic goods business should embrace a multi-stakeholder strategy to combat physical inertia, particularly in underserved populations. Sporting items have seen some growth, owing to increasingly health-conscious buyers. Sustainability has become a more pressing consumer concern, and corporations have responded by creating more sustainable products, a trend intensified by the epidemic. The onus is now on businesses to ensure long-term supply networks. Because recycling is likely to be a bottleneck, companies must embrace novel concepts such as direct-to-consumer circularity.

Fitness and exercise communities that are digitally enabled take centre stage. Physical-distance and stay-at-home constraints drove a significant movement toward digital exercise during the last year. Traditional sports and exercise will not be completely replaced by digital fitness, but will be enhanced in a "bionic" hybrid paradigm. Digital exercises will remain popular in 2021 and beyond, especially when they include an interesting and inspirational aspect and allow remote exercise in a virtual communal context. The transition to direct to consumer is challenging and necessitates fundamental changes in firm structure, culture, experience, and knowledge. The advancement of web is pushing the business model change to direct to consumer. COVID-19-related shop closures accelerated the online growth curve, allowing several businesses to expand e-commerce and even direct-to-consumer sales. As a consequence, internet shopping has advanced significantly in the last year, and many first-time buyers will remain with their new habits. With internet penetration likely to stabilise at roughly 25% in 2021, which is six times greater than it was before the epidemic, brands and merchants must quickly adapt their business models. Brands must prioritise digital commerce and expedite direct to consumer initiatives, while retailers must provide smooth and integrated omnichannel experiences.

The change in marketing from assets to influencers represents a chance to make digital pay. Traditionally, digital marketing has concentrated on assets with high exposure (for example, club, league, or event sponsorships). With sporting events being cancelled, postponed, or performed in empty stadiums, and consumers spending more time online, participants in the athletic goods business must transition to digital. Furthermore, in order to increase visibility, credibility, and engagement, companies must increasingly collaborate directly with individual athletes as influencers, who have a considerably larger reach than events or groups. However, because athletes are role models and consumers want them to take a stand on issues that are important to them, companies must ensure that their communications are consistent with these values.
Sports Apparel Market Segment Analysis
Based on Product Type, the market is segmented into Top Wear, Bottom Wear, and Support items. The Top Wear segment captured the largest market share and estimated at the USD 76.2 billion in 2021. This segment is expected to grow at a CAGR of 5.2% during the forecast period. Growing preference for top wear sports apparel over other top wears is a key factor to drive the market demand. The top wear segment consists of t-shirts, sweatshirts, sports vests, sports hoodies, and others. The United States held the largest regional market for the Top Wear segment, accounting for 34.7% of the global sales in 2021.

Based on End-Use, the market is segmented into Men, Women, and Children. The Men end-use segment held the largest market share and is expected to grab the leading share of the market by USD 129.3 billion in the forecast period. This segment growth is attributed to the higher participation of men in sports and physical activities along with the rising popularity of sportswear, owing to their stylish appearance, and good comfort. The Women end-use segment is expected to grow at a CAGR of 7.19% during the forecast period. Culture changes and the growing participation of women in many sports, yoga, gym, and physical activities are driving the market growth of the segment. In addition, women have accounted for a higher proportion of runners than men, which is expected for the women segment to grow significantly during the forecast period.

Based on Distribution Channel, the market is segmented into Online and Offline. The Offline segment captured the largest market share of xx% in 2021 and is expected to grab the leading share of the market by 87.98 billion in the forecast period. The growth of the offline segment is attributed to the growing popularity of stores, hypermarkets, and specialized showrooms, as they offer products from international brands including Adidas, Nike, and others. The growth of the segment is attributed to choices such as discounts and trials before purchase as well as the benefit of immediate gratification boosting the market growth. The Online segment is expected to witness the highest CAGR of 8.71% during the forecast period. Increased use of the internet and smartphones for online shopping allows the consumer to compare products and prices drive the market growth.
Sports Apparel Market Regional Insights
North America accounted for xx% of the market in 2021 and is expected to grow at a CAGR of 6.58% during the forecast period. Growing health consciousness and the popularity of active lifestyles drive the need for sports apparel. In 2021, the US market is expected to be worth USD 62.4 billion. Other notable global markets include Japan and Canada, which are expected to increase at 3.2% and 3.3%, respectively, during the forecast period. Germany is expected to expand at a CAGR of around 3.9% in Europe.

During the forecast period, the Asia Pacific region is expected to have the highest CAGR of 6.73%. India and China have the fastest increasing young populations, with a combined population of 0.652 billion, fueling demand for sports goods. The growing desire to live healthier lifestyles, as well as increased disposable income, are likely to boost demand for sports apparel in the area. China dominated the Asia Pacific market and is expected to reach a market size of USD 32.6 billion by 2027, with a CAGR of 7.1% during the forecast period. China, as the leading country, is fueling regional market growth by encouraging the youth population to actively participate in sports, which is supported by several government initiatives, and growing appetite for foreign brands, as well as an increase in disposable income and a desire to live a better lifestyle, which are some of the major factors positively influencing market growth over the forecast period.
Research Methodology
Primary and secondary methods are used for collecting the data in the research report. The research process involves the investigation of various factors affecting the industry, such as government policy, market environment, competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and technical progress in related industries, as well as market risks, opportunities, market barriers, and challenges. All conceivable elements influencing the markets included in this research study have been considered, examined in depth, validated through primary research, and evaluated to provide the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalised, and the impact of inflation, economic downturns, regulatory & policy changes, and other variables is factored into the market forecast.

This data is combined and added with detailed inputs and analysis, and presented in the report. Extensive primary research was conducted to acquire information and verify and confirm the crucial numbers arrived at after comprehensive market engineering and calculations for market statistics; market size estimations; market forecasts; market breakdown; and data triangulation. Bottom-up technique is widely employed in the whole market engineering process, along with multiple data triangulation methodologies, to perform market estimation and forecasting for the overall market segments and sub-segments covered in this research.
Report Scope:
The Sports Apparel Market research report includes product categorization, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, and the most recent dynamic analysis, among other things. The study discusses the global market's drivers, opportunities, and limitations. It discusses the influence of various drivers, trends, and constraints on market demand during the forecast period. The research also outlines market potential on a global scale. The research includes the production time, base distribution, technical characteristics, research and development trends, technology sources, and raw material sources of significant Sports Apparel Market firms in terms of production bases and technologies. The more precise research also contains the key application areas of market and consumption, significant regions and consumption, major producers, distributors, raw material suppliers, equipment providers, and their contact information, as well as an analysis of the industry chain relationship. This report's study also contains product specifications, manufacturing processes, cost structure, and data information organised by area, technology, and application.
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Global Sports Apparel Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 171.25 Bn.


Forecast Period 2022 to 2029 CAGR:
6.7%
Market Size in 2029:
US $ 287.70 Bn.


 Segments Covered:
by Product
• Top Wear
• Bottom Wear
• Support items


by End-use
• Men
• Women
• Children


by Distribution Channel
• Online
• Offline



Sports Apparel Market by Region
• North America
• Europe
• Asia Pacific
• South America
• The Middle East and Africa
Sports Apparel Market Key Players
• Nike Inc.
• Fila
• Lululemon Athletica Inc.
• New Balance
• Under Armour Inc.
• Columbia Sportswear Company
• Puma Se
• Adidas AG
• Umbro
• Ralph Lauren Corporation
• Anta International Group Holdings Ltd.
• Li Ning Company Limited
• VF Corporation
• Jockey
• Lotto Spa
• Everlast Worldwide, Inc.
• Brooks Sports, Inc.
• Diadora S.p.A.
• Million Special Industries Co. Ltd.
Frequently Asked Questions:
1] What segments are covered in the Sports Apparel Market report?
Ans. The segments covered in the Sports Apparel Market report are based on Product Type, End-use, and Distribution Channel.

2] Which region is expected to hold the highest share in the Sports Apparel Market?
Ans. North America region is expected to hold the highest share in the Sports Apparel market.

3] What is the market size of the Sports Apparel Market by 2029?
Ans. The market size of the Sports Apparel Market by 2029 is US $ 287.70 Bn.

4] Who are the top key players in the Sports Apparel Market?
Ans. Nike Inc., Fila, Lululemon Athletica Inc., New Balance, Under Armour Inc., Columbia Sportswear Company, Puma Se, Adidas AG, Umbro, Ralph Lauren Corporation, Anta International Group Holdings Ltd., Li Ning Company Limited, VF Corporation, Jockey, Lotto Spa, Everlast Worldwide, Inc., Brooks Sports, Inc, and Diadora S.p.A.

5] What was the market size of the Sports Apparel Market in 2021?
Ans. The market size of the Sports Apparel Market in 2021 was US $ 171.25 Bn.