Football Sportswear Market Is Estimated To Reach $114,414.1 Million By 2027, Registering A CAGR Of 5.3% From 2021-2027, Says Allied Market Research
Rise in consumer spending on sports and recreational activities, surge in participation in football-related events, and increase in number of sportswomen drive the growth of the global football sportswear market. However, variations in raw material prices and availability of counterfeit products hinder the market growth. On the other hand, rise in preference for sports as a career option among youth and ever-increasing popularity of football create new opportunities in the coming years.
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Based on type, the footwear segment accounted for the largest market share, contributing to more than three-fifths of the global football sportswear market in 2019, and will maintain its lead position during the forecast period. This is due to massive popularity of football events, advancement in football footwear, and adoption of sports as a recreational activity. However, the apparel segment is projected to manifest a CAGR of 6.0% from 2021 to 2027.
Based on end user, the men segment accounted for the highest share in 2019, holding more than three-fifths of the global football sportswear market, and is projected to maintain its dominance in terms of revenue during the forecast period. This is attributed to massive men’s fan following of football and desire for fashion, quality, and style for different types of sportswear. However, the children segment is expected to witness the highest CAGR of 7.1% from 2021 to 2027. This is due to increase in admissions in football academics, surge in participation of children in sports activities in schools and colleges, and rise in interest of children in football.
○ Governments of several countries have imposed lockdown, due to which, sports stores were closed and online platforms stopped the delivery of sportswear. The demand for football sportswear reduced significantly.
○ To curb the spread of coronavirus, football leagues, competitions, and events have been either canceled or postponed. This affected the sales of apparel and footwear.
○ Several companies needed to halt production activities of sportswear during the lockdown due to lack of sufficient supply of raw materials and manpower in factories. The supply chain has been disrupted during the lockdown. The demand-supply gap would be narrowed down during post-lockdown.
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Based on region, Europe, followed by North America, held the highest market share in terms of revenue in 2019, accounting for nearly half of the global football sportswear market, and will maintain its dominance by 2027. This is attributed to huge popularity of football in the region, organization of huge events and competitions, and adoption of heavy exercise sports such as football and other recreational activities. However, Asia-Pacific is projected to portray the fastest CAGR of 6.7% during the forecast period, owing to celebrity endorsements, heavy promotion, and rise in demand for fashionable sports footwear and apparel.
Leading market players
• Adidas AG
• Asics Corporation
• Columbia Sportswear Company
• Fila Holding Corporation
• Lululemon Athletica, Inc.
• Nike, Inc.
• New Balance, Inc.
• Ralph Lauren Corporation
• Puma SE
• Under Armour, Inc.
Key findings of the study
♦ The football sportswear market was valued at $89,505.0 million in 2019, and is estimated to reach $114,414.1 million by 2027, growing at a CAGR of 5.3% during the forecast period.
♦ By type, the apparel segment is estimated to witness the fastest growth, registering a CAGR of 6.0% during the forecast period.
♦ In 2019, depending on end user, the men segment was valued at $55,330.0 million, accounting for 61.8% of the global football sportswear market share.
♦ In 2019, the UK was the most prominent market in Europe, and is projected to reach $7006.8 million by 2027, growing at a CAGR of 4.3% during the forecast period.
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