USD 170.94 billion
Global Sportswear Market Size, Share, Growth Analysis, By Product(Footwear, Apparel), By End users(Men, Women), By Distribution channel(E-commerce stores, retail stores) - Industry Forecast 2024-2031
Report ID:
SQSG25K2007 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|
Tables:
89 |
Figures:
76
Global Sportswear Market Insights
Global Sportswear Market size was valued at USD 170.94 billion in 2019 and is poised to grow from USD 182.22 billion in 2023 to USD 323.9 billion by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).
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.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Footwear
Fastest Growth
Footwear
Growth Rate
6.6% CAGR
Global Sportswear Market 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
Global Sportswear Market Size By Type 2021-2028 ($ Bn)
Global Sportswear Market Size By Type 2021-2028 (%)
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Global Sportswear Market Segmental Analysis
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.
Global Sportswear Market By Type 2021 (%), 2023 (%)
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Global Sportswear Market Regional Insights
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.
Global Sportswear Market By Geography, 2021-2028, 2024-2031
- Largest
- Fastest
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Global Sportswear Market Dynamics
Sportswear Market Drivers
- The growing health-conscious population, which is increasing the number of gym visits in many nations throughout the world, has contributed to the product's increased demand. For example, according to International Health, Racquet & Sports club Association figures, the United States has 39,570 gymnasiums in 2018, with over 6 billion visits. Furthermore, the growing popularity of fitness apps in electronic gadgets has prompted people to engage in fitness activities for the purpose of improving their health. For example, the World Economic Forum said in September 2020 that fitness applications had increased by 50% in the first half of 2020.
Sportswear Market Restraint
- Growing number of counterfeit products could stifle sportswear market growth. The growing prevalence of counterfeit products in footwear, clothes, leather goods, and other categories in many nations throughout the world is stifling industry growth. According to figures issued by the Organization for Economic Cooperation and Development in March 2019, counterfeit goods, including sportswear, account for 3.3 percent of global trade.
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Global Sportswear Market Competitive Landscape
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
- Nike, Inc.
- Adidas AG
- Under Armour, Inc.
- Puma SE
- VF Corporation (The North Face, Vans, Timberland, etc.)
- ASICS Corporation
- Columbia Sportswear Company
- New Balance, Inc.
- Skechers USA, Inc.
- Anta Sports Products Limited
- Li-Ning Company Limited
- Fila Korea Ltd.
- K-Swiss Inc.
- Reebok International Ltd.
- Brooks Sports Inc.
- Umbro International Ltd.
- Lotto Sport Italia S.p.A.
- Diadora Sport S.r.l.
- Ellesse Ltd.
- Errea Sport S.p.A.
Sportswear Market Recent Developments
- In February 2022, Armour, Inc. announced that it approved the repurchase of USD 500 million in outstanding class C common shares of Under Armour, effective immediately. The share buyback program, according to the corporation, provides an extraordinary chance to use capital and boost shareholder value while keeping the financial flexibility required to continue investing in significant higher growth sectors
- In June 2022, Puma launched a new mobile shopping application in India to expand its digital capabilities in the nation. The German company announced the creation of a mobile shopping application for easy access to its products.
Global Sportswear Key Market Trends
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.
Global Sportswear Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 170.94 billion |
| Market size value in 2031 | USD 323.9 billion |
| Growth Rate | 6.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Sportswear Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Sportswear Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
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.
Analyst Support
Customization Options
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.
Global Sportswear Market Report Snapshots
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