Sports Apparel Market Size, Share, Analysis, Segmentation, Industry Report | Valuates Reports

Sports Apparel Market

Due to the COVID-19 pandemic, the global Sports Apparel market size is estimated to be worth USD 276050 Million in 2022 and is forecast to a readjusted size of USD 365720 Million by 2028 with a CAGR of 4.8% during the review period. Key drivers of the sports apparel market include growing awareness of the benefits of sports and fitness activities. The increasing participation of men and women in several sporting events will fuel the growth of the sports apparel market during the forecast period.

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Trends Influencing the Global Sports Apparel Market

The growing interest in a fit lifestyle

The disposable income of consumers is increasing due to rapid economic growth. People are taking interest in many sports-related activities due to the need for maintaining a fit lifestyle. Any sort of physical activity has gained importance as governments and educational institutions are encouraging students to increase their participation in sports. There are several sports activities that suit the tastes and temperaments of different people that directly links to their identity and cultural preferences. People want to look good, athletic, and healthy. These factors will boost the growth of the sports apparel market during the forecast period.

Active participation from men and women

Boys and girls are taking a huge interest in sports. Women who are dedicatedly involved in several professional and domestic sporting events are expected to have high levels of confidence and self-esteem. With a positive body image and higher levels of psychological well-being, they are more likely to contribute actively to society. Casual joggers to professional athletes are investing in consumer sportswear for performance-enhancing properties like moisture absorption, and temperature control, for eliminating discomfort and potential injury. Moreover, critical life skills like team building, goal setting, and pursuing excellence in performance are necessary for surviving in a competitive workplace environment. Sports teach the importance of result-oriented behaviors. These factors will propel the demand for the sports apparel market in the coming years.

The emergence of fashionable sportswear

The crossover between sports and fashion is a trendy, versatile thing. It is convenient and can be worn for a variety of occasions. Athleisure is here to stay. Women are regularly wearing leggings, crop tops, and sports bras while men are donning sweatpants, hoodies, etc. The desire for all-purpose clothing is on the rise as it is breathable, provides comfort, and is ideal for intense sports and workouts. Consumers are adding these clothes to their regular wardrobe and pairing items with denim, formalwear, or dresses. Both older and younger people are gearing towards fitness and key retailers are taking advantage of this by introducing innovative products that match the style, function, and technicalities of consumer needs. This in turn will boost the growth of the sports apparel market during the forecast period.

Growing sports industry

The global sporting market is skyrocketing at a rapid pace. The interest in live sporting events is huge with professional leagues and college athletic events returning to normalcy. Fitness brands are collaborating with sports stars to advertise their products and clothing lines. These professional athletes are admired highly by fans for their amazing achievements. Their road to success inspires a bunch of young people. From collecting autographs to wearing the same clothing brand advertised by them consumers are ready to invest in high-quality sports apparel. Furthermore, with the advent of digitization and social media, the engagement levels of mega-events have increased manifold. Heavy sponsorships are pouring in from various sources and betting platforms have gained traction. AR and VR technologies are revolutionizing the entire viewing experience. These factors will surge the growth of the sports apparel market in the upcoming years.

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Sports Apparel Market Share

Based on type, the shirt segment is expected to dominate in the sports apparel market share with 37% penetration.

Based on the application, the professional athletic segment will maintain the lead in the sports apparel market share during the forecast period.

Based on region, Asia-Pacific will grow the highest in the sports apparel market share due to the presence of emerging economies like China, and India and a huge population base. The gradual shift towards a healthy and fit lifestyle.

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