Overview and Scope
Sports apparel refers to clothing worn for sports, physical exercise, and athletic activities. They are made from moisture-wicking fabrics to keep the wearer dry and comfortable during physical exertion. Sports apparel is designed to be lightweight and breathable to help athletes stay comfortable and perform at their best during exercise.
Sizing and Forecast
The sports apparel market size has grown strongly in recent years. It will grow from $198.82 billion in 2023 to $210.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to fitness and health awareness, athleisure trends, celebrity endorsements and influencer culture, and e-commerce growth.
The sports apparel market size is expected to see strong growth in the next few years. It will grow to $266.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to Sustainability and ethical practices, digitalization and personalization, emerging markets, health and wellness trends, and innovation in performance wear. Major trends in the forecast period include the rise of direct-to-consumer (DTC) brands, focus on inclusivity and diversity, expansion of sustainable product lines, integration of augmented reality (AR) and virtual reality (VR), health monitoring and fitness tracking.
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Segmentation & Regional Insights
The sports apparel market covered in this report is segmented –
1) By Product Type: Athletic Footwear, Sports Apparel, Accessories
2) By Distribution Channel: E-Commerce, Supermarket Or Hypermarket, Brand Outlets, Discount Stores
3) By End User: Children, Men, Women
North America was the largest region in the sports apparel market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports apparel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing popularity of sports and fitness activities is expected to propel the growth of the sports apparel market. Sports activities refer to physical activities that involve physical exertion, skill, and competition, often governed by rules and patterns of behavior. The popularity of sports and fitness activities is driven by their health benefits, social interaction opportunities, stress-relieving effects, personal development aspects, entertainment value, and media influence. Sports apparel plays a significant role in enhancing the performance, comfort, and safety of athletes during sports and fitness activities, contributing to a more enjoyable and effective workout experience. For instance, in February 2023, according to the Topline Participation Report by the Sports & Fitness Industry Association (SFIA), a US-based trade association of industry sports and fitness brands, the physical activity rates in the United States increased for a fifth consecutive year. Furthermore, in 2022, 77.6% of the entire American population, totaling 236.9 million individuals, participated in at least one physical activity throughout the year. The United States experienced a 1.9% increase from 2021 in overall participation rates. Therefore, the increasing popularity of sports and fitness activities is driving the growth of the sports apparel market.
Key Industry Players
Major companies operating in the sports apparel market are Nike Inc., Adidas AG, The Gap Inc., Decathlon Group, Kappa, VF Corporation, Puma SE, Anta Sports Products Limited, Karhu Holding B.V., Skechers USA Inc., Ralph Lauren Corporation, Lululemon Athletica Inc., Hanesbrands Inc., Under Armour Inc., New Balance Athletics Inc., ASICS Corporation, The North Face Inc., Columbia Sportswear Company, Wolverine World Wide Inc., Li Ning Company Limited, Mizuno Corporation, Brooks Sports Inc., Deckers Outdoor Corp., Fila Holdings Corp., Iconix International, Reebok International Limited, Umbro International Limited
The sports apparel market report table of contents includes:
1. Executive Summary
2. Sports Apparel Market Characteristics
3. Sports Apparel Market Trends And Strategies
4. Sports Apparel Market – Macro Economic Scenario
5. Global Sports Apparel Market Size and Growth
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32. Global Sports Apparel Market Competitive Benchmarking
33. Global Sports Apparel Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Sports Apparel Market
35. Sports Apparel Market Future Outlook and Potential Analysis
36. Appendix
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