Sports Apparel Market Outlook - 2026
The sports apparel market was valued at $167.7 billion in 2018 and is estimated to reach $248.1 billion by 2026, registering a CAGR of 5.1% from 2019 to 2026. In 2018, the men end user segment accounted for more than half of the share in the total sports apparel market, and is expected to grow at a CAGR of 4.6% throughout the forecast period. Sports apparel are clothes worn during strenuous physical activities such as during workout sessions or while playing sports. They are designed in a way that provides comfort and agility while performing physical movements. Sports apparel are made using breathable material that allows sweat to evaporate faster, helping the person wearing it remain fresh for longer. Polyester, microfiber, calico, and spandex are some of the most commonly used fabrics in the production of these clothing. Initially, the sports apparel was mostly worn by athletes but, with time, it became quite common with regular gym-goers and other non-athletes. The adoption of sports apparel has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly.
Sports apparel has been gaining traction in emerging market, owing to rise in the affluent population. Furthermore, growth in health awareness and increase in adoption of fitness activities such as aerobics, swimming, running, and yoga among consumers drive the market growth. Moreover, rise in participation of women in sports and fitness activities fuels the sports apparel market growth. In addition, aggressive advertisements and celebrity endorsement has also helped the sports apparel industry to pave its way toward growth. However, fluctuating prices of raw materials used in making such clothing and easy availability of counterfeit products act as the major restraint for this market. On the contrary, growth in demand for trendy and fashionable sports apparel and increase in popularity of sports apparel among children are anticipated to provide growth opportunities for the sports apparel market.
The sports apparel market has been segmented based on end user, distribution channel, and region. On the basis of end user, the market is divided into children, men, and women. Based on distribution channel, it is segmented into E-commerce, supermarket/hypermarket, brand outlets, and discount stores. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The Women segment would witness the fastest growth, registering a CAGR of 5.6% during the forecast.
E-commerce segment would witness the fastest growth, registering a CAGR of 5.9% during the forecast period.
Based on the sports apparel market forecast, the discount store was the most prominent segment accounting for the highest share in the sports apparel market. This can be attributed to options such as discounts and trial before purchase as well as the benefit of immediate gratification. However, the e-commerce segment is expected to witness the highest growth, owing to increase in penetration of internet and increased use of smartphones for online shopping as it allows the consumer to compare products in real time and make informed decisions.
Asia-Pacific is the largest market growing at a CAGR of 6.8% from 2019–2026.
By region, U.S. is the most prominent regional market. This can be attributed to the highly evolved retail structure and higher adoption of sports apparel due to aggressive advertising and celebrity brand endorsement. Moreover, higher expenditure of the consumers on fitness apparel due to it being considered a style statement also adds to the popularity of sports apparel in this region. However, China is expected to grow with the highest CAGR throughout the forecast period, owing to rapidly improving retail infrastructure and increasing disposable income of consumers in this region.
The players in the sports apparel market have adopted acquisition as their key development strategy to increase profitability, and to improve stance in the sports apparel market share. The key players have also relied on product launch to improve their product portfolio and stay relevant in the global market. The key players profiled in the report include Adidas AG, Nike, Inc., Puma SE, Under Armour, Inc., Ralph Lauren Corporation, Umbro Ltd., Fila, Inc, Lululemon Athletica Incorporation, New Balance Athletic Shoe, Inc., and Columbia Sportswear Company.
Key Benefits for Sports Apparel Market:
The report provides a quantitative analysis of the current sports apparel market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing opportunities.
Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis and the sports apparel market size and segmentation assists in determining the prevailing sports apparel market opportunities.
The major countries in each region are mapped according to their revenue contribution to the global sports apparel market.
The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.
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