Artificial intelligence (AI) in apparel design, size inclusivity and increasing female participation All high-potential trends
DUBLIN, July 20, 2022 /PRNewswire/ — The report “Global Sportswear Market: Analysis by Product Type, by End-User, by Distribution Channel, by Region Size and Trends with Impact of COVID-19 and Forecast to 2026” has been added to from ResearchAndMarkets.com offer.
Global Sportswear Market in 2021 was valued at US$178.73 billionand is likely to reach US$248.99 billion by 2026. Activewear has grown in popularity over the past few years. With top players promoting and carrying the best brands, sportswear can be found virtually anywhere.
There is a fundamental shift towards retail and online sales. The propensity of consumers to order sporting goods online has been boosted by the pandemic and this habit is here to stay.
Additionally, in recent years there has been an increase in the number of people interested in health and fitness, as well as an increase in the number of people going to gyms, where younger consumers not only want to be in shape, but also to look good. This factor has been and continues to increase the demand for sportswear globally. The sportswear market is expected to grow at a CAGR of 6.10% during the forecast period 2022-2026.
Market Segmentation Analysis:
By Product: The report divides the global sportswear market into four different segments based on product type: pants & tights, tops & t-shirts, surf & swimwear, and sweaters & hoodies. The pants and tights segment held approximately 40.4% of the global sportswear market in 2021, owing to the convenience and comfort of wearing sports pants and tights.
By End User: The market report has segmented the global sportswear market into three segments on the basis of end user: men, women and children. The men’s segment held around 50% of the activewear market share in 2021, owing to the growing number of men involved in various outdoor activities. The women’s segment is expected to grow at a CAGR of 6.6% for the period 2022-2026, driven by the growing number of sports designed specifically for women.
By Distribution Channel: The market report has segmented the global sportswear market into four segments on the basis of distribution channel: branded outlets, e-commerce, supermarkets/hypermarkets and discount stores. The e-commerce segment is the fastest growing segment with a CAGR of around 12.4% during the forecast period as e-commerce has helped sportswear and sportswear businesses to contact new customers and manage their product catalogs more efficiently. Nike and adidas have worked to dramatically increase retail and e-commerce as a percentage of total sales in recent years by limiting their wholesale exposure to only key strategic partners and investing heavily in their digital capabilities.
By Region: According to this report, the global market can be divided into five major regions: North America (United States, Canadaand Mexico), Europe (GermanyUK, Franceand Rest of Europe), Asia Pacific (China, Japan, Indiaand Rest of Asia Pacific), Latin Americaand the Middle East and Africa. North America held the bulk of 34% of the global market share in 2021, mainly due to increasing urban population, growing participation in different physical activities like cycling, hiking, yoga, gym, etc. .
Asia Pacific The sportswear industry is expected to grow at a significant rate due to the presence of more young people and brands leading a localized promotion strategy to move consumers from non-branded to branded products. In Asia Pacific, China has been one of the fastest growing markets in the sportswear industry.
- Generation Z income increase
- Growing influence of social media
- Growing penetration of e-commerce
- Rapid urbanization
- Increase health awareness among people
- Growing popularity of athleisure
- Competition from counterfeit stores
- degree of competition
- Increase in the use of Blockchain solutions
- Artificial intelligence (AI) in clothing design
- Growing demand for fashionable sportswear
- Increased participation of women
- Famous brand ambassadors for sportswear
- Blurring the line between fashion and yoga wear
- Technology for personalization and smart clothing
- More size inclusion
The report titled, “Global Sportswear Market: Analysis by Product Type, by End User, by Distribution Channel, by Region Size and Trends with Impact of COVID-19 and Forecast to 2026”, includes:
An in-depth analysis of the global sportswear market by value, by product type, by end-user, by distribution channel, by region, etc.
Main topics covered:
3. Global Market Analysis
4. Regional Market Analysis
5. Impact of COVID-19
6. Market dynamics
7. Competitive landscape
8. Company Profiles
- PUMA SE
- NIKE, Inc.
- Adidas S.A.
- Under Armour, Inc.
- Lululemon Athletica Inc.
- Columbia sportswear company
- Li Ning Company Ltd.
- Fila Holdings Corp. and subsidiaries
- ASICS Company
- V.F. Corporation
- Yonex Co., Ltd.
- New Balance Athletics Inc.
For more information about this report visit https://www.researchandmarkets.com/r/9kdmm1
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SOURCE Research and Markets