Press release
Compression Sportswear Market to reach USD 6.59 billion by 2028 | Industry Top Companies, Size, Share, Latest Trends, Qualitative Insights and Forecast by 2028
The lockdown announced by the government agencies has led to reduced sports activities leading to shunted growth. Moreover, limited availability of workforce and decreased demand is hampering the growth prospects of several sport apparel manufacturers. However, the situation post-pandemic is likely to favor the market growth with the resumption of international sporting events by implying the stringent regulations and social distancing norms set by the government to contain the spread of the novel coronavirus.
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Market Segmentation:
On the basis of type, the global market for compression sportswear is categorized into tops, bottoms, socks, bra, and others. Based on gender analysis, the market is classified into men, women, kids, and unisex. Moreover, On the basis of the distribution channel, the market is bifurcated into online and offline. Lastly, on the basis of region, the market is segregated into Asia-Pacific, North America, Latin America, Europe, and the Middle East and Africa.
What does the Report Provide?
The market report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point Analysis and PESTEL to obtain information about the current trends and industry developments that will drive the market growth in the forthcoming years.
DRIVING FACTORS
Rising Women Participation to Propel Market Growth
Sports has been known to be male-dominated for a brief period. However, active government support and initiatives to break the gender stereotypes have led to the increasing participation of women athletes worldwide. According to the International Olympic Committee (IOC), around 40% of athletes are women. The rising number for women participation is expected to drive the demand for compression leggings, bra, and socks. These apparels aid in drastically reducing swelling and prevents ligament injuries in women sportspersons. Therefore, this is expected to bode well for the global compression sportswear market growth during the forecast period.
Further Report Findings:
Asia-Pacific stood at USD 1.35 billion in 2020 and is expected to hold the largest global compression sportswear market share in terms of revenue in the forthcoming years. This is attributable to the presence of several regional manufacturers in countries such as China and India.
The market in Latin America is expected to showcase significant growth backed by the rising sports industry and the growing incidence of age-related muscular problems between 2021 and 2028.
Europe is expected to experience exponential growth during the forecast period. This is ascribable to factors such the increasing participation of men and women in sporting events that is likely to boost the adoption of advanced compression sportswear in the region.
Based on gender analysis, the men segment is expected to experience considerable growth backed by the high number of men participating in sports and other endurance activities across the globe. The segment held a market share of about 3% and 58.0% in 2020 globally and in China, respectively.
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COMPETITIVE LANDSCAPE
Partnerships between Key Market Players to Maintain Their Dominance
The market is experiencing healthy competition amongst the companies that are focusing on partnering with other companies to expand their compression sportswear portfolio to cater to the growing demand from several sportspersons that prefer comfortable fit. Moreover, other key players are striving to maintain their presence by adopting strategies such as merger and acquisition, collaboration, and facility expansion that will bode well for the growth of the market.
Industry Development:
February 2021 - Adidas AG announced the launch of a new sportswear collection, Formotion. The company reports that the design finds its inspiration in shapewear that features graded zonal compression to ensure perfect fit for women’s irrespective of their distinctive shape.
List of the Companies Profiled in the Global Market:
Nike, Inc. (United States)
Adidas AG (Germany)
Under Armour, Inc. (United States)
PUMA SE (Germany)
Superdry (United Kingdom)
ASICS Corporation (Japan)
FILA Korea (South Korea)
Columbia Sportswear Company (United States)
YONEX Co., Ltd. (Japan)
PVH Corp. (Speedo International) (United States)
2XU (United States)
lululemon athletica (Canada)
A4 Sportswear (United States)
Augusta Sportswear (United States)
BV SPORT (France)
Compressport (Switzerland)
Craft (United States)
CW-X (United States)
Medi (CEP) (Germany)
Zensah (United States)
Pacterra Athletics (United States)
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