Sportswear market is booming globally, registering 5.1% CAGR by 2026: Allied Market Research
PORTLAND, Ore., November 5, 2020 / PRNewswire / – According to the report released by Allied Market Research, global sportswear is expected to reach $ 248.1 billion by 2026, with a CAGR of 5.1% by 2026. The report highlights key segments, market characteristics, best pockets of investment, growth by segmentation and competitive landscape.
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Shankar Bhandalkar, Research Team Leader, Consumer Goods at AMR, pointed out: “The affluent population of emerging economies has grown over the years and with it spending on purchases and specialty products such as top clothes. range or sportswear have increased.
According to the report, the US market dominated the market and is expected to maintain its dominance throughout the forecast period. Growing consumer spending on fitness clothing, a developed retail structure and celebrity brands are increasing the market growth in this province. On the other hand, China is expected to grow at the highest CAGR throughout the forecast period. This is attributed to the rapid improvement in infrastructure and changes in the purchasing behavior of people.
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The global sportswear market is analyzed across the end user and the distribution channel.
By end user, the market is categorized into children, men, and women. The men’s segment contributed to the highest income in the market, due to the higher participation of men in sports. At the same time, the female segment would represent the fastest CAGR throughout the forecast period. This is due to the growing population of female sports enthusiasts and the increased frequency of product launches.
By distribution channel, the global sportswear market is divided into e-commerce, supermarket / hypermarket, brand name stores and discount stores. The discount store segment contributed the highest market share. This is due to advantageous options such as discounts and pre-purchase trials as well as the benefit of instant gratification. On the other hand, the e-commerce segment is said to exhibit the fastest CAGR throughout the forecast period. This is due to the increase in internet penetration and online shopping.
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The Global Sportswear Market Report includes a comprehensive analysis of major market players such as Adidas AG, Nike, Inc., Puma SE, Under Armor, Inc., Ralph Lauren Corporation, Umbro Ltd., Fila, Inc, LululemonAthletica Incorporation, New Balance Athletic Shoe, Inc. and Columbia Sportswear Company.
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Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas. AMR offers its services in 11 verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverage, Energy & Electricity, semiconductors and electronics, automotive and transportation, ICT and media, aerospace and defense and BFSI.
We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Each of the data presented in the reports we publish is extracted through primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.
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