USD 172.94 billion
Report ID: SQSG25K2007 | Region: Global | Published Date: October, 2022 | Pages: 157 | Tables: 89 | Figures: 84
Sportswear Market was valued at USD 172.94 billion in 2021 and it is expected to reach at USD 268.65 billion by 2028, with CAGR of 6.6% over the forecast period (2022-2028).
The sportswear market is likely to be driven by rising awareness about living a healthy lifestyle and the health advantages of fitness activities such as swimming, yoga, running, and aerobics. The growing popularity of sporting events such as the Soccer World Cup, Olympic Games, and Cricket World Cup is also propelling this sector forward. Rising incidences of work-related health conditions, such as stress and obesity, are encouraging more people to participate in sports and fitness activities, which is driving up demand for fashionable and comfortable sportswear. Furthermore, the growing popularity of multinational sportswear brands is increasing product demand. Rising disposable income levels, increased living conditions, and low manufacturing costs are the primary reasons driving these countries' market growth. Furthermore, India has a significant proportion of the textile industry, which is projected to drive market expansion.
US Sportswear Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 172.94 billion
To get more reports on the above market click here to Buy The Report
Global sportswear market is segmented based on product type, end user, distribution channel, and region. Based on product type, sportswear market is segmented into footwear, apparel, wearable. Based on end user, sportswear market is segmented into men, women, children. Based on distribution channel, sportswear market is segmented into e-commerce stores, retail stores. Based on region, sportswear market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa.
Sportswear Market Analysis by Product Type:
In 2021, the footwear product sector held the greatest sportswear market share and is expected to grow further due to rising product demand. Tennis, football, basketball, and other sports footwear, as well as casual shoes influenced by sports footwear, are examples of sports footwear. Companies like as Nike use cutting-edge technology in the creation of such footwear, such as foam blown polyurethane, which provides more cushioning to the shoes.
The clothes segment is predicted to grow at the fastest rate, with a CAGR of 10.7 percent. The primary reasons propelling the market are technological improvements such as fast-drying fabrics and t-shirts that can measure heart rate. Nike's new tights, for example, are constructed of fabric that regulates body temperature and increases circulation.
To get detailed analysis on other segments, Request For Sample Report
Based on region global sportswear market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. Asia-Pacific is the fastest-growing region in the global sports apparel market, owing to the increased percentage of young people in countries such as China and India. The growing taste for global brands, rising disposable income, and a desire to live a healthier lifestyle are projected to boost demand for sports apparel in the region. China, aided by government programs to encourage active engagement in sports, leads the region and has the potential to overtake the United States as the world's leading sportswear market in the future.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Sportswear Market Drivers
Sportswear Market Restraint
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The global sportswear market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key sportswear market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions
Top Players in the Global Sportswear Market
Sportswear Market Recent Developments
Growing Popularity of Smart Sportswear
Growing popularity of smart sportswear, which is designed to improve workout routines, monitor performance, and provide real-time feedback, represents a sportswear market growth opportunity. In January 2021, for example, a British start-up named Impulse announced the release of its riding shorts, which use Al technology to shape and stimulate riders' muscles by monitoring and sending feedback.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global sportswear market analysis, as health awareness, a desire to live an active lifestyle, and increased discretionary income grow, consumers are increasingly incorporating sports and fitness activities into their daily routine. Market dynamics have evolved as a result of greater participation, resulting in higher demand for sports apparel. Moreover, the increased interest in sports among men and women is likely to drive the growth of the sports apparel market. Athletic clothes can help you avoid sports injuries. Furthermore, the growing demand for attractive sports gear is likely to drive the sports apparel industry forward.
|Market size value in 2021||USD 172.94 billion|
|Market size value in 2028||USD 268.65 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Sportswear Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sportswear Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Sportswear Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Sportswear Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.SPEAK TO AN ANALYST
Get lifetime access to our reportsBasic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOW
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.
Product ID: SQSG25K2007