Sportswear Industry Revenue, Competitive Landscape and Trend Outlook 2022 – Exclusive Report by Mordor Intelligence
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The global sportswear market is estimated to witness a CAGR above 7% during the forecast period (2022-2027). Asia-Pacific is the fastest growing region in the global sportswear market, thanks to countries like China and India having a higher percentage of young population.
Overview of the sportswear market
The global sportswear market is estimated to witness a CAGR above 7% during the forecast period (2022-2027). Improved health and self-awareness, the desire to lead an active lifestyle and look fit are encouraging consumers to incorporate sports and fitness activities into their daily routine. The increasing participation of women in professional and household sports and fitness activities is expected to drive the market over the forecast period. The availability of sportswear with improved properties such as moisture management, temperature control and other performance-enhancing features that prevent discomfort and potential injury, has sparked the interest of consumers, who have been observed to be willing to pay more for these added benefits. .
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Sportswear Market – Geographic Overview
Asia-Pacific is the fastest growing region in the global sportswear market, thanks to countries like China and India having a higher percentage of young population. Growing appetite for foreign brands and increasing disposable income, coupled with the desire to lead improved lifestyles, are expected to have a positive impact on the demand for sportswear in the region. China, supported by government initiatives to encourage active participation in sports, is the market leader in the region and has the potential to overtake the United States as the top global market in the future.
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Growth of smart fabrics for the sports and fitness market
- With continuous technological advancements in nanotechnology and micro-fabrication technologies, miniaturization has been made possible in various electronic components, making components, such as smart sensors, small and economical, which is the origin of fabrics smart for sport and fitness.
- 3D printing production processes and the production of nanomaterials by nanodimensional solutions have the potential to solve all production problems and will also help create efficient production technology for smart fabrics.
- The new emerging segment of wearable devices, the e-textiles or smart fabrics segment, has changed the way these devices are worn now. Smart fabrics incorporate biometric sensors, mini-computers, circuits or metal wires for different functionalities. These fabrics can be customized accordingly to meet almost any requirement of a sports athlete or any fitness enthusiast.
Recent developments in the sportswear market
- In September 2021, global sports brand PUMA launched the Royal Challenger Bangalore (RCB) athletics range as part of its three-year strategic partnership agreement the company signed with the franchise in March 2021.
- In September 2021, Eastbay and Champs Sports announced the launch of a new clothing line, namely Eastbay Performance. The line includes compression products including tops, tank tops and tights, t-shirts, jackets and shorts for training, and fleece pants and hoodies for casual wear.
Reports and Related Links
List of Sportswear Market Key Players
- Adidas S.A.
- Nike, Inc.
- Puma SE
- Under Armour, Inc.
- Lululemon Athletica
- Columbia sportswear company
- Anta International Group Holdings Ltd.
- Li Ning Company Limited
- VF Company
Mordor Intelligence has segmented the global sportswear market on the basis of sport, end-user, distribution channel and geography:
- Sports (Market Size & Revenue Based Forecast (Million USD, 2016-2027)
- End User (Market Size & Revenue Based Forecast (Million USD, 2016-2027)
- Distribution Channel (Market Size & Revenue Based Forecast (USD Million), 2016-2027)
- Specialty stores
- Online retail stores
- Other distribution channels
- Geography (Market Size & Revenue Based Forecast (Million USD, 2016-2027)
- North America
- United States
- Rest of North America
- Asia Pacific
- Rest of Asia-Pacific
- The rest of Europe
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of the Middle East and Africa
- North America
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