Sports Apparel Market

Global sports apparel market is forecast to witness a higher CAGR over the forecast period (2020-2027), owing to the growing health awareness and increasing government emphasis on encouraging sports activities in several nations.

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Key Drivers

With the growing health awareness, the inclination towards an active lifestyle and appear fit has increased, thus, encouraging consumers incorporate fitness and sports activities into their daily routine, stands to be one of the major factors fueling the sports apparel market. Moreover, the increasing involvement of women in domestic and professional fitness and sports activities will bolster the market growth. Accelerating disposable income levels, primarily across the emerging economies, changing lifestyles and consumer choices have stimulated the demand for durable and comfortable apparel. This emerging trend is projected to expand the expand the market growth. Moreover, aggressive marketing activities, celebrity endorsement, and brand positioning is strengthening the sports apparel market growth.

The increasing availability of sports apparel with remarkable features which include temperature control, moisture management, and other performance-enhancing characteristics to prevent discomfort and potential injury, has paved the way for market. Besides this, the surging demand for trendy and fashionable sports outfits and their growing prominence among children are projected to boost the Sports Apparel Market Share over the forecast period. However, the increasing cost of sports apparel because of the increasing investment in R&D might restrain the market growth. Further, the availability of counterfeit sports apparel industry is likely to obstruct the global market growth. For instance, according to the Organization for Economic Co-operation and Development in March 2019, the trade in counterfeit goods, including sportswear, was 3.3 percent of world trade.

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Gender Segment Analysis

Women segment is anticipated to witness a higher CAGR over the forecast period. The increasing participation of females in several sports activities which include athletics, basketball, and football is projected to boost the segment’s growth. For instance, as per the data published by Olympics.Org, in 2018, the female participation in Winter Olympic Games in Pyeongchang, South Korea was 41 percent. In addition, a drastic increase in female sporting events which include FIFA Women’s World Cup, ICC Women’s World Cup, Women’s FIH Hockey World Cup, and others have encouraged the demand for sports apparel among women. With the rising working women population, the emphasis towards a healthy lifestyle has increased, thus, inclining women towards women in sports activities. On the other hand, the men segment is expected to hold a larger share over the forecast period, primarily because of the increasing involvement of men in various outdoor activities, including cycling, rock climbing, and trekking.

Distribution Channel Segment Analysis

E-commerce is expected to hold a larger share during the forecast period, owing to the increasing penetration of smartphones and internet. The fast-paced lifestyle, expansion of e-commerce platform, and easy exchange and refund options are driving the segment’s growth. Also, E-commerce platforms offers an improved shopping experience to customers, which helps them make a comparison in real-time products and also provide easy availability of product, thus, saving their spare time, which is anticipated to strengthen the Sports Apparel Market Size.

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Regional Analysis

North America is anticipated to experience a higher CAGR during the forecast, owing to the growing health awareness among individuals, increasing involvement in sports activities, and casualization of office dress code. Moreover, the region is home to several leading players, like Nike and Adidas, which is fueling the sports apparel market growth. The flourishing recreational industry in this region has proliferated the demand for sports apparel in the region. For instance, according to the data released by Bureau of Economic Analysis, in 2019, the recreational activities in the United States recreational accounted for 2.2 percent of the current dollar GDP, which is nearlly USD 459.8 billion.

The accelerating per-capita income and growing emphasis of women on sports activities in Asia Pacific is projected to pave the way for regional growth. The increasing investment made by government in sports activities has bolstered the demand for product, propelling the regional growth. For example, as per the data published by Economic Times in February 2020, the Indian government allocated USD 401.6 million in its sports budget, depicting an increase of USD 7.103 million from 2019. Furthermore, the expansion of sports domains such as cricket has increased the number of individuals playing game professionally and as a hobby. Also, the data published in the Hindu in September 2019 stated that the Indian cricket league called Indian Premier League is valued at USD 6.8 billion and witness a growth rate of 7 percent. Other factors including improving living standards, inclination towards western brands, and lower production cost in emerging countries are projected to boost the regional expansion.

Top Market Players

The major players in the market include Adidas AG, Nike, Inc., Puma SE, Under Armour Inc, Ralph Lauren Corporation, Umbro International, Fila Holdings Corp., Lululemon Athletica Inc., New Balance Athletic Inc., and Columbia Sportswear Company.

Key Developments:

• • In 2022, Under Armour, Inc. approved the repurchase of USD 500 million of unpaid class C common shares of Under Armour effective immediately. The company stated that these share buyback programs offers an excellent opportunity to use cash and the shareholder value while sustaining their financial flexibility needed to continue with the investment in a significant higher growth areas.
  • In 2022, Puma launched a new mobile shopping application in India to improve digital offerings in the country. According to the German brand, the mobile shopping application was launched for quick access to its products.
  • In 2021, Adidas collaborated with Allbirds, a personal best for both brands, weighing 2.94kg CO2e, and is the result of a shared goal to create a high-performance shoe with no carbon footprint.
  • In 2021, The International sports brand PUMA introduced Royal Challenger Bangalore (RCB) athleisure range as part of its three-year collaboration deal, the company signed with the franchise in March 2021.
  • In 2021, Eastbay and Champs Sports introduced a new apparel line i.e., Eastbay Performance, which includes products like tops, tanks and tights, tees, jackets and shorts for training and fleece pants and hoodies casual wear.
  • In 2020, Kappa and Hyosung announced their strategic partnership to launch Kappa’s new K-Spirit e-sports apparel collection at the Tencent Global E-Sports Arena (TGA).
  • In 2019, Puma SE partnered with Cloud9, an escort brand, to create an apparel collection for gamers. The clothing is available on the swebsite of both the companies, which includes game pants and day shirts for league players. Tapping into the escort market helped Puma SE in expanding its customer base.
  • In 2019, Nike Inc., partnered with the League of Legends Pro League, e-sports competition in China. As per the deal, Nike Inc., is an official apparel provider for the league, which includes sneakers, clothing, and team jerseys.

The global sports apparel market has been segmented on the basis of by end user, distribution channel, and region. Based on end user, market segmented into children, men, and women. Based on distribution channel, market is segmented into e-commerce, supermarket/hypermarket, brand outlets, and discount stores. Based on region, market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.

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Key questions answered in this research report:

• • At what pace is global sports apparel market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in global sports apparel market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global sports apparel market?
  • Which end user generated maximum revenues in 2019 and identify the most promising end user during the forecast period?
  • What are the various distribution channels of global sports apparel market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By End User, By Distribution Channel, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Adidas AG, Nike, Inc., Puma SE, Under Armour Inc, Ralph Lauren Corporation, Umbro International, Fila Holdings Corp., Lululemon Athletica Inc., New Balance Athletic Inc., and Columbia Sportswear Company among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Sports Apparel Market by End User

• • Children
  • Men
  • Women

Global Sports Apparel Market by Distribution Channel

• • E-commerce
  • Supermarket/Hypermarket
  • Brand Outlets
  • Discount Stores

Global Sports Apparel Market by Region

• • North America Sports Apparel Market (Option 1: As a part of the free 25% customization)
    • By End User
    • By Distribution Channel
    • US Market All-Up
    • Canada Market All-Up
  • Europe Sports Apparel Market (Option 2: As a part of the free 25% customization)
    • By End User
    • By Distribution Channel
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Sports Apparel Market (Option 3: As a part of the free 25% customization)
    • By End User
    • By Distribution Channel
    • India Market All-Up
    • China Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Sports Apparel Market (Option 4: As a part of the free 25% customization)
    • By End User
    • By Distribution Channel
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Sports Apparel Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Adidas AG
  • Nike, Inc.
  • Puma SE
  • Under Armour Inc
  • Ralph Lauren Corporation
  • Umbro International
  • Fila Holdings Corp.
  • Lululemon Athletica Inc.
  • New Balance Athletic Inc.
  • Columbia Sportswear Company