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Casual Sportswear Market | Key Player - LI-NING Company Ltd, Lululemon Athletica , Columbia Sportswear , Fila, Inc
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COVID-19 scenario analysis:
During COVID-19, many industries were suffering from economic crises; spread of corona virus diseases has led to adverse effect on global casual sportswear market. To control spread of corona virus, Nation-wide lockdown was imposed by government resulted in huge disruption in supply chain of raw material and disordering of production cycle of global casual sportswear market. Restraints were imposed by government on several retail stores, brand stores and specialty store resulted into great decline in demand of casual sportswear and led to adverse effect of sales of casual sportswear. E-commerce has played significant role uplifting supply casual sportswear. Even after removal of restraints people are hesitating and avoiding in store purchase to control spread of Wuhan virus.
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Now a day, peoples are more concerned about their health and becoming health conscious resulting into rise in number of sports activities such as walking, gym activities, athletics, swimming and other sports games. Sport activities are fun and also help to maintain healthy mental conditions and reduce stress of daily life. Rise in significance of sports among peoples and increase in number of sports activities is key driver in growth of global casual sportswear market.
In last few years, interest of women's in sports participation has increased, even in schools more and more girls are participating in sports activities as helps to live healthy and fit life. Rise in number of female participation in different sports activities is creating a new demand of female sportswear. Rise in demand of sportswear by females is key factor in growth global casual sportswear market.
Majority of sportswear brand are using aggressive marketing strategy for their brand promotion and to increase their brand visibility, in last few years many companies has hired sport figure and celebrities to boost the sales figure of their brands. Brand endorsement by sports figure, athlete and celebrities has great impact on sale, as they have huge fan base that influence demand of people. Rise in adaptation of aggressive marketing strategy by key players and brand endorsement by celebrities is a prominent factor in growth of global casual sportswear market.
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Market Trends-
Rise in trend of sports club culture and fitness activities
In recent years, significance of sports has increased among people and many people have taken it as opportunity and started opening sports clubs & gyms, these sports clubs and gyms offers professional training for sports and gym activities that helps to achieve excellence in particular sports. Professional sports trainers always advise to put on sportswear during workouts as it helps to prevention of cramps and injuries as well as it helps to improve performance of individuals. Rise in trend of sports club culture and fitness activities is significant factor in growth of global casual sportswear market.
Rise in number of brands launches by celebrities
In last few years, many celebrities and sports persons has launched their own brands such as HRX by Hritikh Roshan and WROGN & ONE8 by Virat Kholi. These branded sports wears are gaining prominence among peoples, as these brands are launched by theirs favorite sports person and celebrities. Celebrities and sports figure have their own fan base and fame that is influencing demand of customers and attracting towards their own brand. Rise in number of brands by athletes/sports figure and celebrities are one of the major factors that are boosting growth of global casual sportswear market.
Key benefits of the report:
This study presents the analytical depiction of the casual sportswear Industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the casual sportswear market share.
The current market is quantitatively analyzed from 2020 to 2028 to highlight casual sportswear market growth scenario.
Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed casual sportswear market analysis based on competitive intensity and how the competition will take shape in coming years.
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