Outdoor Apparel Market To See Incredible Growth During 2021-2031
Transparency Market Research delivers key insights on the global outdoor apparel market. In terms of revenue, the global outdoor apparel market is estimated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global outdoor apparel market report.
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In this market report, TMR predicts that the global outdoor apparel market would be largely driven by factors such as rising participation in outdoor activities across the world. Moreover, rising disposable income and changing lifestyles are expected to boost the demand for outdoor apparel in the upcoming years.
The outdoor apparel market report covers product type, material, consumer group, price range, and distribution channel. In terms of product type, the market has been segmented into top wear, bottom wear, coveralls, and others; the material segment consists of natural and synthetic; the consumer group segment has been split into men, women, and kids. The price range segment has been categorized into high, medium, and low. The distribution channel comprises online and offline. Based on product type, top wear and bottom wear are the major segments of the global outdoor apparel market.
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The market share of bottom wear outdoor apparel is less than the top wear, although it is growing at a faster rate than top wear due to the growing demand for outdoor leggings and tights among women across the world, thus driving the outdoor apparel market.
In terms of material, the synthetic segment led the outdoor apparel market owing to its wide spread availability, whereas in the near future, natural fibers are likely to gain significant traction.
In terms of consumer group, the market size of the women's outdoor apparel is less than that of men's outdoor apparel. However, the women's outdoor apparel market is growing at a faster rate than men's outdoor apparel market, due to increasing participation of women in outdoor activities.
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Outdoor Apparel Market: Prominent Regions
Presently, North America and Europe account for major share of the market, as these regions are the traditional outdoor clothing markets. In these regions, consumers have a fondness for outdoor activities dominated by climbers and hikers, and the trend is expected to continue. The market in Asia Pacific is anticipated to grow rapidly during the forecast period. Increasing consumer awareness regarding healthy lifestyle, along with rising disposable income, especially in developing countries such as India and China, leads to rising participation in outdoor activities, which is expected to help the outdoor apparel market expand rapidly during the forecast period.
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In North America, the U.S. dominates the outdoor apparel market in the region. Outdoor top wear segment - jackets & hoodies are expanding faster than shirts & t-shirts. The growth of the top wear segment is driven by the increase in the sales of jackets & hoodies. The North Face (now owned by VF Corporation), a popular outdoor clothing jacket brand in the U.S. holds a significant share of the U.S. outdoor apparel market.
In the top wear segment, jackets & hoodies hold a smaller market share than shirts & t-shirts. In Europe, winter sports and snowboarding are significant outdoor activities, and the rising participation in these activities is increasing the demand for outdoor jackets & hoodies in the region.
Outdoor Apparel Market: Key Players
The competition landscape of the outdoor apparel market is moderately fragmented with leading players accounting for the majority of the revenue share. Key players operating in the global outdoor apparel market include Adidas AG, Columbia Sportswear Company, Hanesbrands Inc., VF Corporation, Hugo Boss AG, Mizuno Corporation, Nike Inc., PUMA S.E, Under Armour Inc., and Patagonia, Inc.
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