Sportswear Market Value To Reach $ 313.54 Billion By 2028 At 7.2% Global Growth Rate Over Forecast
MRC Stratistics Report, Sportswear Market Forecast to 2027 – Global Analysis Application, Key Players, Types, End User and by Geography
MARYLAND, GAITHERSBURG, USA, November 1, 2021 /EINPresswire.com/ – The global sportswear market is worth $ 179.77 billion in 2019 and is expected to reach $ 313.54 billion by 2027, with a 7.2% CAGR over the forecast period. . Some of the key factors propelling the market growth include growth in health awareness, increasing adoption of fitness activities such as aerobics, swimming, running and yoga among consumers, and increasing consumer affinity in emerging economies for health and fitness. However, fluctuations in the prices of raw materials used to make these garments are holding back the growth of the market.
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On the basis of geography, the Asia-Pacific market is expected to show significant growth during the forecast period, owing to the improvement in living standards and increase in disposable income, especially in China and India. The growing appetite for foreign brands and the increase in 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, leads the market in the region.
Some of the major players in the sportswear market include Puma SE, Under Armor, Inc., Umbro Ltd., Skechers USA, Lululemon Athletica Incorporation, Fila, Inc, Adidas AG, Nike, Inc., ASICS Corporation, New Balance Athletic Shoe , Inc., Ralph Lauren Corporation, Columbia Sportswear Company, Yonex Co., Ltd., Billabong International Limited, Li Ning Company Limited, VF Corporation, Jockey International and Everlast Worldwide Inc.
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