Activewear Market to Surpass $362.3 Billion by 2032 Amid Growing Demand for Fashionable and Comfortable Activewear

Sportswear market to gain 209 bps as sales of fashionable tops and t-shirts grow at a CAGR of 6.7% through 2032

In the latest report, Fact.MR provides detailed information on the global sportswear market for the next decade. This study also highlights factors such as drivers, challenges, and opportunities creating lucrative growth prospects in various market segments including product type, end-use, sales channel, and regions.

NEW YORK, April 12, 2022 /PRNewswire/ — The global sportswear market is poised to grow at a CAGR of 5.8% between 2022 and 2032. Overall sales in the sportswear market are expected to reach US$205.2 billion in 2022.

The growing health consciousness is motivating people to engage in physical activities such as running, aerobics, yoga, swimming and others. For this reason, in order to maintain a sporty look, sportswear sales are expected to increase over the forecast period.

Moreover, the increasing participation of women in sports and fitness activities is enhancing the demand for comfortable and fashionable sportswear. This is likely to create prolific growth opportunities for manufacturers.

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Moreover, the major players are focusing on adopting new marketing strategies such as promotional marketing, advertising campaigns and endorsement of celebrity brands for sportswear. This is expected to drive demand in the market over the next few years.

Subsequently, government initiatives to encourage participation in many sports activities are likely to increase the demand for athletic and comfortable sportswear. To capitalize on this trend, several high-end brands are promoting their sportswear via social media to appeal to consumers.

Hence, the demand for comfortable and fashionable sportswear such as yoga pants in pastel colors and others is increasing on social media platforms. This is expected to increase sportswear sales by 2.3 times over the assessment period.

Report attributes

Details

Base year value (2021A)

US$194.9 billion

Estimated annual value (2022E)

US$205.2 billion

Projected year value (2032F)

US$362.3 billion

World growth rate (2022-2032)

CAGR 5.8%

Key points to remember:

  • North America is expected to hold around 26.2% of the overall sportswear market share.
  • East Asia The sportswear market is considered the most lucrative market, registering growth at a CAGR of 6.3% through 2032.
  • Based on product type, the tops and t-shirts segment is expected to hold nearly 21.3% of the overall market share.
  • In terms of end user, the female segment is expected to grow at 5.8% CAGR over the next decade.
  • Sales of hoodies & sweatshirts and jackets & vests are expected to grow at a CAGR of 6.3% and a CAGR of 5.8%, respectively.

Growth drivers:

  • Growing demand for sportswear with temperature control and moisture absorbing material is estimated to create rewarding prospects for the market.
  • The growing preference for versatile, fashionable and comfortable sportswear is driving sales of pastel colored pants and tights, as well as hoodies and sweatshirts.

Constraints:

  • The variation in the prices of the raw materials used in the production of sportswear is likely to hamper the growth of the market.
  • The availability of counterfeit products similar to the original brands could limit sales, particularly in India and China.

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Competitive Landscape:

Major manufacturers operating in the global sportswear market are focusing on improving their product range to meet the growing demand for comfortable sportswear. Meanwhile, some manufacturers are using biodegradable materials to solve growing recyclability issues as well as gain a competitive edge.

For example,

  • In 2021, PUMA unveiled an athleisure collection for Royal Challenger Bangalore (RCB). The global brand has introduced this new range in honor of its 3 year partnership with RCB.
  • In 2020, Kappa collaborated with Hyosung to introduce its new K-Spirit e-sportswear collection at Tencent Global E-Sports Arena (TGA).

Top Companies Featured by Fact.MR

  • Nike Inc.
  • under protection
  • Adidas S.A.
  • Designers UNITED STATES
  • streams
  • Fila Korea
  • Puma SE
  • New balance
  • Asics
  • Yonex

More Valuable Insights into the Sportswear Market

Fact.MR in its latest study provides a comprehensive analysis of the Global Sportswear Market for the forecast period 2022 to 2032. It also reveals the key factors driving the Sportswear Market sales with detailed segmentation as follows :

By product type:

  • Tops and t-shirts
  • Hoodies & Sweatshirts
  • Jackets and vests
  • Shorts
  • Socks
  • Surfing and swimwear
  • Pants and tights
  • Others

By end use:

  • Men’s Sportswear
  • Women’s Sportswear
  • Children’s sportswear

By sales channel:

  • Online sales channel
    • Company-owned websites
    • E-commerce websites
  • Offline sales channel
    • Modern trade channels
    • Independent sports store
    • Franchised sports store
    • Specialty stores
    • Other sales channel

By region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East and Africa (SOUL)

Key questions answered in the Sportswear market report

  • Who are the major manufacturers in the sportswear market?
  • Which region is expected to account for maximum share of the global sportswear market in 2022-2032?
  • What is the estimated market size of the sportswear market in 2022?
  • What are the factors limiting sales in the sportswear market?
  • What will be the size of the global sportswear market during the forecast period (2022-2032)?
  • What is the expected growth rate of the global sportswear market up to 2032?

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About Fact.MR

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