Sportswear Market

GMI Research analysis indicates that the Sportswear Market is slated to register a CAGR of 5.3% over the forecast period, till 2029.

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Market Dynamic

Key Drivers and Emerging Trends

High demand from professional athletes increased the adoption of sportswear, which is a major factor that is contributing to the growth of the global sportswear market size. Smart clothing is an emerging part of sportswear in which data analysis tools such as pattern recognition, machine learning, and statistical methodologies are making a significant impact on the players’ performance by offering effective scheduling of the workout and training, prevention of injury during heavy load sessions, etc. Furthermore, the rise in the use of electronic devices in day-to-day life is driving the growth of the global sportswear market size. For instance, according to “Avnet” which is the largest distributor of electronic devices across the globe, sportswear is being touted as the next big market move for IoT. Thus, the sector’s continuous adoption of IoT will substantially have led to the wider spectrum of the market.

Furthermore, increasing awareness about leading a healthy lifestyle and health benefits of fitness activities, such as swimming, yoga, running, and aerobics, are expected to drive the market. The increasing popularity of sports events, such as football league, Olympic games, and cricket world cup, is one of the emerging sportswear market trends that is propelling the growth of the sportswear market share.

Restraint in the Sportswear Market

As per the sportwear market analysis, fluctuating prices of raw materials used in making such clothing and the easy availability of counterfeit products are the major factors that is expected to hamper the growth of the sportswear market.

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Fibre – Segment Analysis

Based on the fibre, polyester segment is expected to grow at a higher CAGR in the global sportswear market over the forecast period. This is due to the advantages offered by the material, such as it has low moisture absorption, is non-allergic, and eliminates the growth of the bacteria. Companies like Nike, Inc. is offering polyester tracksuit, polyester, and other polyester fiber clothing.

Product – Segment Analysis

Based on the product, footwear is expected to dominate the global sportswear market over the forecast period. Sportswear comprises of shoes for tennis, football, basketball, and other sports along with casual shoes inspired by sports shoes. Companies like Nike are using high-end technology for the production of such footwear, such as using foam-blown polyurethane, which gives softness to the shoes, thus has lifted the sportswear market growth.

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Regional – Segment Analysis:

On the basis of the regional coverage, the North America is expected to grow at a higher CAGR in the global Sportswear market over the forecast period. The majority of the sportswear players have a strong presence in the U.S. For example, Nike, Under Armour, Fila, etc., has surged the growth of the sportswear market in the region. The high penetration of the sportswear market in the US stems from the increasing participation of the population in activities like yoga or running, as yoga has become very popular across the U.S. population.

Top Market Players

Some of the leading players operating in the market, include, Nike, Inc., Adidas, Columbia Sportswear Company, Fila, New Balance, Lululemon athletica, PUMA SE, RALPH LAUREN, Under Armour, Umbro, among others. 

Key Developments:

• • In 2019, Adidas launched limited Black & Grey and White & Light Grey colorway sports shoes, which were issued widely across the industry.

Segments covered in the Report:

The global sportswear market has been segmented based on fibre, product, and regions. Based on fibre, the market is segmented into polyester, polypropylene, nylon, cotton, and viscose rayon. Based on product, the market is segmented into apparel, footwear, wearable patches, and others. 

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Key questions answered in this research report:

• • At what pace is the global sportswear market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in sportswear 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 sportswear market?
  • Which fibre generated maximum revenues in 2021 and identify the most promising fibre during the forecast period?
  • What are the various product areas of global sportswear 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 Revenues (2021)	USD Million
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Fibre, By Product, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Nike, Inc., Adidas, Columbia Sportswear Company, Fila, New Balance, Lululemon athletica, PUMA SE, RALPH LAUREN, Under Armour, Umbro, 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 Sportswear Market by Fibre

• • Polyester
  • Polypropylene
  • Nylon
  • Cotton
  • Viscose Rayon

Global Sportswear Market by Product

• • Apparel
  • Footwear
  • Wearable Patches
  • Others

Global Sportswear Market by Region

• • North America Sportswear Market (Option 1: As a part of the free 25% customization)
    • By Fibre
    • By Product
    • US Market All-Up
    • Canada Market All-Up
  • Europe Sportswear Market (Option 2: As a part of the free 25% customization)
    • By Fibre
    • By Product
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Sportswear Market (Option 3: As a part of the free 25% customization)
    • By Fibre
    • By Product
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Sportswear Market (Option 4: As a part of the free 25% customization)
    • By Fibre
    • By Product
    • 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

Major Players Operating in the Sportswear (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Nike, Inc.
  • Adidas
  • Columbia Sportswear Company
  • Fila
  • New Balance
  • Lululemon athletica
  • PUMA SE
  • RALPH LAUREN
  • Under Armour
  • Umbro