Outdoor Apparel Market Recorded 4.52% of Y-O-Y Growth Rate in 2020 | adidas AG, ASICS Corp., Columbia Sportswear Co. to emerge as dominant players | Technavio

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According to the recent market study by Technavio, the Outdoor Apparel Market Share is expected to increase by USD 3.90 billion from 2019 to 2024, with an accelerated CAGR of 5%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

APAC will register the highest growth rate of 32% among the other regions. China is the key market for outdoor apparel in APAC. The market growth in APAC will be faster than the growth of the market in other regions.

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Vendor Insights-

The outdoor apparel market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to remain competitive in the market. Some vendors are engaged in M&As and others are focusing on launching new products.

adidas AG – The company offers a wide range of outdoor apparel. Nuvic Down Jacket and Terrex Stockhorn Hooded Fleece Jacket are some of the key products offered by the company.

ASICS Corp. – The company offers a wide range of outdoor apparel. Some of the key products offered by the company include Roc Spire Jacket Men and Astral Jacket Men.

Columbia Sportswear Co. – The company offers Women's Saturday Trail Stretch Pant and Men's PHG Ascender Softshell Jacket.

G-III Apparel Group Ltd. – The company offers Long Bay Outdoor Jacket and Waterman Paddle Long Sleeve Hooded Paddle Jacket.

Hanesbrands Inc. – The company offers a wide range of outdoor apparel. Some of the key products offered by the company include Champion X Wood Wood.

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Regional Market Outlook

The outdoor apparel market share growth in APAC will be significant during the forecast period. China is the key market for outdoor apparel in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

Factors such as the rising millennial population, increasing disposable income, and growing awareness about health and fitness among people will drive the growth of the outdoor apparel market in APAC during the forecast period.

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Latest Drivers & Trends Driving the Market-

• Outdoor Apparel Market Driver:
• Product innovation leading to portfolio extensions and product premiumization
  Vendors in the market are launching new products by innovating in terms of design, quality, and features. This is allowing them to expand their product lines for all age groups and various types of outdoor activities. The sale of such products is also on the rise with increasing purchasing power and the rising preference for innovative, comfortable, and lightweight apparel among consumers. All these factors are creating new growth opportunities in the market.
  
  
• Outdoor Apparel Market Trend:
• Growing tourism industry:
  The growth of the global tourism industry and the steady rise in disposable incomes have increased consumer participation in outdoor activities such as hiking and trekking. In addition, the growth in the number of international and domestic business, leisure, and sports tourists has increased the demand for both inbound and outbound tourism. This is evident in countries such as the US, the UK, and China that are experiencing a large influx of international tourists. With the increasing number of tourists, the demand for outdoor sports activities is on the rise, which is positively influencing the market growth.

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

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