Authored By: Sarah
11 Jul 2024

 Sports Apparel Market to grow by USD 99.75 billion between 2024-2028

According to a research report “ Sports Apparel Market” by End-user (Men, Women, Children) Distribution Channel (Offline, Online) Geography (North America, APAC, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 99.75 billion at a CAGR of  8.17% during the forecast period. In the dynamic sports apparel market, innovation is a critical differentiator. Premium-priced products result from advanced technical fabrications, groundbreaking designs, and cutting-edge development. Consumers seek innovative, top-tier items delivering superior performance. Market leaders, such as Nike Inc., leverage technology advancements, like moisture-wicking and breathable fabrics, to introduce sport-specific attire for basketball, football, rugby, trail running, golf, and more..

Browse market data tables, figures, and in-depth TOC on “Sports Apparel Market” by End-user (Men, Women, Children) Distribution Channel (Offline, Online) Geography (North America, APAC, Europe, South America, Middle East and Africa) Global Forecast to 2028.

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By End-user, the Men segment is projected to dominate the market size in 2024.

In the global sports apparel market, offline distribution channels dominated revenue generation in 2022. This segment encompasses sales of winter sports apparel through specialty stores, department stores, hypermarkets, and warehouse clubs. Market players strategically operate these physical stores based on geographical considerations, customer demographics, workforce availability, and logistical ease. Vendors such as Decathlon SE expand their market presence through both their retail stores and partnerships. As of April 2022, Decathlon SE boasted a global retail footprint of 1,747 stores in 60 countries. Specialty stores serve as key retail outlets, characterized by centralized management systems and standardized business practices.

By Distribution Channel, Offline  segment is expected to hold the largest market size for the year 2024.

In the global sports apparel market, the men's segment is projected to experience the fastest growth during the forecast period. Factors contributing to this expansion include the rising male participation in sports, economic recovery, and enhanced marketing strategies such as social media advertising. The men's segment benefits from a wider range of offerings, including athletic shorts and compression tights, which are not as extensively available for women. Market players can capitalize on untapped demand by intensifying marketing efforts and optimizing distribution channels. Notably, leading brands are introducing fashionable sports apparel specifically for men.

North America is forecasted to hold the largest market size by region in 2024.

The North American sports apparel market experiences significant growth due to the surge in sports participation, particularly in activities like basketball, rugby, walking, and running. Notable events, such as the Boston Marathon, Chicago Marathon, and New York City Marathon, attract a large millennial demographic. Beyond these activities, hockey, racket sports, basketball, rugby, lacrosse, racing, and football also drive demand. Market competitors respond to consumer health consciousness by introducing innovative products and expanding their revenue streams.

The Sports Apparel Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Adidas AG
  • Berkshire Hathaway Inc.
  • Columbia Sportswear Co.
  • Decathlon SA
  • Fila Holdings Corp.
  • Group Rossignol USA Inc.
  • Hanesbrands Inc.
  • K Swiss Inc.
  • Levi Strauss and Co.
  • Li Ning Co. Ltd.
  • lululemon athletica Inc.
  • Mizuno USA Inc.
  • New Balance Athletics Inc.
  • Nike Inc.
  • Ralph Lauren Corp.
  • Under Armour Inc.
  • VF Corp.
  • Yonex Co. Ltd.
  • ASICS Corp.
  • Iconix International
  • PUMA SE
.

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Research Analysis Overview

The sports apparel market encompasses a wide range of products, including athletic footwear, hats, socks, shoes, leggings, T-shirts, jerseys, and garments. This market caters to the needs of fitness enthusiasts, athletes, and individuals engaged in domestic and professional sports, as well as outdoor recreational activities. Key players in this market offer products for kids, women, and men, catering to various sports and physical activities such as yoga, running, and hiking. The market snapshot reflects a significant growth trend, driven by the increasing health consciousness and performance-oriented focus of consumers. Online platforms and offline stores serve as major distribution channels for these products. Alice and Olive, among other brands, offer a diverse range of sports apparel to meet the demands of this dynamic market.

Market Research Overview

The sports apparel market encompasses a wide range of products, including gloves, jackets, pants, and athletic footwear, catering to the needs of fitness enthusiasts, amateurs, and professional athletes. Brands strive to offer performance-enhancing features such as temperature regulation, compression technology, and moisture-wicking fabrics to provide an overall superior experience. Counterfeit products and brand imitations pose a challenge in the market, with e-commerce platforms like Alibaba and offline stores selling discounted items. Ethically produced and eco-friendly products are gaining popularity due to increasing awareness and sustainability concerns. The market snapshot includes various segments, including sporting goods stores, the accessories segment, and the sports apparel segment. Domestic and professional sports, as well as female participation, contribute significantly to the market's growth. Endorsements from sports celebrities like Raheem Sterling, Myles Garrett, and Ben Stubbington, and brand collaborations with influencers further boost sales. Unique products from emerging brands and established players like Adidas, Puma, and Nike, along with antimicrobial properties and ergonomic designs, cater to diverse consumer preferences. The market includes various garments, such as hats, socks, shoes, leggings, T-shirts, jerseys, and shorts, made from raw materials like polyester, rayon, nylon, and synthetic fibers, as well as cotton. The sports apparel market extends to various activities, including cycling, yoga, running, hiking, and other physical activities, reflecting the active lifestyle and health consciousness of consumers. Brands like Lululemon and Yonex offer a diverse range of products, catering to the needs of kids, women, and men. The outdoor industry association anticipates continued growth in the market due to the increasing popularity of outdoor recreational activities.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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