What is the global market size of Sportswear Market?

Global Sportswear Market size was valued at USD 170.94 billion in 2021 and is poised to grow from USD 182.22 billion in 2022 to USD 323.9 billion by 2030, growing at a CAGR of 6.6% in the forecast period (2023-2030).

What is the key market trend for Global Sportswear Market?

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.

Which region accounted for the largest share in Global Sportswear Market?

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.

Sportswear Market Size, Share, Growth Analysis, By Product(Footwear, Apparel, Wearables), By End users(Men, Women, Children), By Distribution channel(E-commerce stores, retail stores), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Sportswear Market?

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 '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.'

Report ID: SQSG25K2007 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 89 | Figures: 76

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.

Sportswear Market Report Snapshots

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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 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 '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.'

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.

Based on region 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 sports apparel market, owing to the increased percentage of young people in countries such as China and India. The growing taste for 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.

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Sportswear Market Size, Share, Growth Analysis, By Product(Footwear, Apparel, Wearables), By End users(Men, Women, Children), By Distribution channel(E-commerce stores, retail stores), By Region - Industry Forecast 2024-2031

Sportswear Market Dynamics

Sportswear Market Report Snapshots

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FAQs

What is the market size of Sportswear Market?

Who are the key vendors in the Sportswear Market?

What is the key driver of Sportswear Market?

What is the key market trend for Sportswear Market?

Which region accounted for the largest share in Sportswear Market?

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