Sportswear Market Size to Reach Revenues of around USD 544 Billion by 2026 - Arizton

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May 20, 2021, 09:00 ET

CHICAGO, May 20, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global sportswear market report.

The global sportswear market is expected to grow at a CAGR of over 7% during the period 2020−2026.

Key Highlights Offered in the Report:

North America is expected to have the largest market share during the forecast period.
APAC is expected to grow at the fastest growth rate of around 9% during the forecast period. Various Asia Pacific countries such as India, China, and others are witnessing an increase in demand for sportswear due to rising disposable income.
The women sportswear segment is expected to have the fastest growth rate of over 7% and the men segment is expected to have the largest market share by 2026.
Many vendors are increasing their presence in globally through licensing. For instance, Page Industries is the licensee of Jockey for operations in India.
The market for gym wear is expected to witness considerable growth during the forecast period as individuals worldwide are becoming increasingly conscious about their fitness levels.
The demand for sportswear through online channels is increasing due to the rising internet penetration worldwide. Moreover, the number of smartphone users is rapidly growing, contributing to the success of the online sales of sportswear.
The US is dominating the market for sports apparel and footwear with the highest share globally.
During the COVID-19 outbreak, the emergence of the work from home culture enabled people to adopt more comfortable and casual clothing, contributing to a rise in demand for athleisure wear worldwide.

Key Offerings:

Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product, end-user, distribution channel, activity type, and geography
Competitive Landscape – 10 key vendors and 29 other vendors

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Sportswear Market – Segmentation

The US is dominating the sportswear apparel and footwear segment and generating the highest market share globally. COVID-19 impacted the demand for athleisure wear as people adopted more of these products, as they are comfortable to wear while working from home. The demand for types of apparel depends upon the weather condition of the region.
Men contribute higher share in the global sportswear market compare to other end-user segments. The US is the leader in the men's activewear market. More than 10 million men are involved across the globe performing yoga out of the total yoga practitioners. The women sportswear segment to witness substantial growth in the upcoming years. The age growth between 25-34 years contributing major share towards the market.
The huge preference for going out, socializing, seeing, and trying the product before buying is likely to keep the market share for offline sales of sportswear high. In Q2 2020, Nike added a new product to its portfolio in Melrose and New York, planning to expand to 150-200 small stores in North America, MEA, and Europe.

Sportswear Market by Product Type

Apparel
Footwear & Accessories

Sportswear Market by End-User

Men
Women
Kids

Sportswear Market by Distribution Channel

Online
Offline

Sportswear Market by Activity Type

Swimming
Gym
Yoga
Sports

Sportswear Market – Dynamics

Many vendors use a variety of synthetic fibers, such as nylon and polyester, to manufacture sportswear. Although these raw materials used in sportswear offer functional benefits, such as light weight, moisture management, and flexibility, they pose a significant threat to the environment. Synthetic fabrics shed a lot of microfibers while washing and do not last long if used regularly. Hence, many customers are shifting from such sportswear to sustainable sportswear. Sustainable sportswear is manufactured using raw materials such as organic cotton, recycled plastic, organic bamboo, and other natural fibers that are not harmful to the environment. Consequently, the demand for sustainable sportswear is expected to witness considerable growth during the forecast period.

Key Drivers and Trends fueling Market Growth:

Rising Popularity of Athleisure Wear
Increasing Participation of Women in Sports and Fitness Activities
Expanding Population of Health-conscious Individuals
Growing Popularity of Outdoor Activities

Sportswear Market – Geography

Factors such as growing awareness of the benefits of a healthy lifestyle, increasing internet penetration, rising participation in outdoor activities are driving the sportswear market in the in North America. The US accounts for the largest share of the sportswear market in this region, followed by Canada. Some of the leading sportswear brands in the region are Nike, Lululemon, and Columbia. COVID-19 has resulted in a slowdown of the sportswear market in Q1 and Q2 of 2020 due to the shutdown of all the public spaces, fitness centers (includes yoga, gym, Zumba, and others), production facilities, and labor shortages. Furthermore, all the sports events were either postponed or canceled. However, there was a slight rise in the sportswear market in Q3 and Q4 of 2020 due to an increase in demand for comfortable clothes, as a majority of the population were working from home and many fitness enthusiasts engaged in at-home workouts. There was a rise in demand for sportswear such as fleece hoodies, stretchy pants, shorts, yoga bottoms, and others.

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Segmentation by Geography

North America

US
Canada

APAC

China
India
Japan
Australia
South Korea

Europe

Germany
UK
France
Spain
Italy

Latin America

Mexico
Brazil
Rest of Latin America

Middle East & Africa

Turkey
Saudi Arabia
UAE
South Africa

Major Vendors

Nike Inc.
Adidas
Puma
Lululemon Athletica
Under Armour
Asics
Hanes
Jockey
VF Corporation
Anta Sports

Other Prominent Vendors

Li Ning Group
Ralph Lauren Corporation
Umbro
Columbia Sportswear Company
New Balance
Enerskin
Obermeyer
Volcom
Patagonia
Elite Sportswear
Decathlon
Alo
Gymshark
JD Sports
Castore
Contra
HRX
Varley
Outdoor Voices
Redesign
Marmot
Trespass
Montbell
Stretchery
Formative Sports
The Upside
PE Nation
Diadora
Hoka One One

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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SOURCE Arizton Advisory & Intelligence