Global Sportswear Market to Reach at USD 268.65 billion by 2028

The market is rapidly expanding as people become increasingly attracted to the product's ability to provide sweat wicking and breathability as well as physical activity augmentation. The product's ability to protect against extreme weather conditions, boost blood circulation, and avoid damage is helping to increase its popularity. The increasing involvement of people in fitness activities increases the consumption of the product as the urban population grows. According to World Bank.Org data, the worldwide urban population was estimated to reach 55.7 percent in 2019, up from 55.2 percent in 2018.

Asia Pacific is expected to have a significant sportswear market share. The increasing government investment in sports has resulted in an increase in demand for the product, which has had a substantial impact on market growth. For example, the Economic Times reported in February 2020 that the Indian government had committed USD 401.6 million in its sports budget, an increase of USD 7.103 million from the previous year.
Furthermore, the thriving growth of sports sectors such as cricket, which has resulted in a significant number of people playing the game professionally and as a hobby, has made an important impact.

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North America is the market leader, with a size of USD 72.82 billion in 2020. The robust growth of the recreational business in this region has resulted in increased product use. According to Bureau of Economic Analysis data, the recreational economy in the United States accounted for 2.2 percent of the current dollar GDP, or USD 459.8 billion, in 2019. Furthermore, the increased number of school children interested in sports has fueled demand for the product, which is anticipated to boost the consumption rate.
Europe is predicted to develop significantly as a result of increasing financing to reduce the inactive elderly population, which has resulted in the involvement of the aged population in physical activities. Furthermore, the fact that a big percentage of the European population engages in regular exercise has resulted in an increase in demand for the product. For example, according to data given by Play the Game.org in March 2018, 40% of European citizens exercise at least once a week.

South America is expected to increase significantly as the unemployment rate gradually declines, increasing the spending power of many individuals. For example, according to figures provided by the Youth Employment Decade in May 2019, the Brazilian unemployment rate fell by 11.6 percent in 2018. However, the growing urban population is increasing the consumption of the product, which is positively impacting market growth.

Read Market Research Report, "Global Sportswear Market by Product Type (Footwear, Apparel, Wearables), End User (Men, Women, Children), Distribution Channel (E-Commerce Stores, Retail Stores), and Region- Forecast and Analysis 2022-2028" by SkyQuest.

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The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.

What does this Report Deliver?
● Market Estimation for 20+ Countries
● Global Sportswear market demand by Region, Sub-Region, and Country
● Customization on Segments, Regions, and Company Profiles
● 100+ tables, 150+ Figures
● Global, Regional and Country specific Global Sportswear market Trends
● Comprehensive Mapping of Global Sportswear market Parameters
● Attractive Investment Proposition in the Global Sportswear market Industry
● Competitive Strategies Adopted by Global Sportswear market Key Players
● Drivers, Restraints, Opportunities, Challenges, and the impact on the Global Sportswear market Size
● Market growth rate till 2028
● Regulatory scenario, regional dynamics, and Global Sportswear market insights of leading countries in each region
● In-depth Market insights by Region and Country
● Market Segmentation Trend Analysis, Opportunities and Growth
● Porter's five force analysis to know the market's condition
● Pricing Analysis and Global Sportswear market Sales
● Parent market analysis
● Product portfolio benchmarking

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