Sports Apparel Market to reach USD 287.70 Bn by 2029, Technological Advancements and Growth Opportunities

Pune 10, May 2023: The global Sports Apparel Market was valued at USD 171.25 Bn in 2021 and is expected to reach USD 287.70 Bn by 2029, exhibiting a CAGR of 6.7 percent during the forecast period (2022-2029), according to a new report by MMR.

Sports Apparel Market Report Scope and Research Methodology

Sports apparel, also known as sportswear or activewear, refers to clothing worn for physical activity or sport. The market includes a range of sport-specific apparel such as tracksuits, shorts, T-shirts, polo shirts, swimsuits, wet suits, ski suits, leotards, and sports footwear like trainers, football boots, riding boots, and ice skates. The sports clothing business has significant commercial potential, especially in the areas of marketing, management/sponsorship, and selling and exporting sports goods.

The change in marketing from assets to influencers represents a chance to make digital pay. With sporting events being cancelled, postponed, or performed in empty stadiums, and consumers spending more time online, participants in the athletic goods business must transition to digital. Furthermore, in order to increase visibility, credibility, and engagement, companies must increasingly collaborate directly with individual athletes as influencers, who have a considerably larger reach than events or groups.

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Sports Apparel Market Dynamics

The report analyzes the drivers and restraints of the Sports Apparel Market, with the largest chances being related to the prospective reintroduction of huge sporting events such as the Olympic and Paralympic Games, as well as the continued popularity of outdoor and home-based sports. Outdoor individual sports, home exercise, yoga, e-sports, and virtual racing are among the categories that are expected to stay popular over the forecast period.

Athleisure is the new standard and a battleground. Before COVID-19, athleisure was a megatrend, but the pandemic has contributed to further blur the barriers between work and leisure, and there is a growing acceptance of relaxed clothes in formerly more formal circumstances. With fashion brands rapidly entering this area, sports goods companies must rely on their innovative skills and market understanding to compete in this more crowded arena.

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Sports Apparel Market Regional Insights

The report also states that fitness and exercise communities that are digitally enabled take center stage. Physical-distance and stay-at-home constraints drove a significant movement toward digital exercise during the last year. The transition to direct to consumer is challenging and necessitates fundamental changes in firm structure, culture, experience, and knowledge. The advancement of web is pushing the business model change to direct to consumer. COVID-19-related shop closures accelerated the online growth curve, allowing several businesses to expand e-commerce and even direct-to-consumer sales.

Sports Apparel Market Segmentation

By Product:

• Top Wear
• Bottom Wear
• Support items

By End-use:

• Men
• Women
• Children

By Distribution Channel:

• Online
• Offline

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Sports Apparel Market Key Competitors include:

• Nike Inc.
• Fila
• Lululemon Athletica Inc.
• New Balance
• Under Armour Inc.
• Columbia Sportswear Company
• Puma Se
• Adidas AG
• Umbro
• Ralph Lauren Corporation
• Anta International Group Holdings Ltd.
• Li Ning Company Limited
• VF Corporation
• Jockey
• Lotto Spa
• Everlast Worldwide, Inc.
• Brooks Sports, Inc.
• Diadora S.p.A.
• Million Special Industries Co. Ltd.

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Table of Content for Sports Apparel Market:

Global Sports Apparel Market: Research Methodology

Global Sports Apparel Market: Executive Summary

Market Overview and Definitions
Introduction to Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry

Global Sports Apparel Market: Competitive Analysis

MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact

Global Sports Apparel Market Segmentation

Global Market, by Product (2021-2029)
Global Market, by End-use (2021-2029)
Global Market, by Distribution Channel (2021-2029)

Regional Sports Apparel Market (2021-2029)

Regional Market, by Product (2021-2029)
Regional Market, by End-use (2021-2029)
Regional Market, by Distribution Channel (2021-2029)
Regional Market, by Country (2021-2029)

Company Profile: Key players

Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments

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Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product, End-use and Distribution Channel
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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