Sports Apparel Market is expected to reach USD 1926.10 Million by 2029, exhibiting a CAGR of 16.2% during the forecast period.

29.8.2023: Sports Apparel Market Report Scope and Research Methodology

Report Scope:

The comprehensive India Sports Apparel Market research report offers a detailed analysis of the market for the forecast period. It encompasses various segments, exploring essential industry trends and aspects. The report's focus is on providing stakeholders in the industry with a holistic view of the India Sports Apparel Market. From drivers and constraints to opportunities and challenges, the report paints a complete picture. It presents historical and current industry status, alongside projected market size and emerging trends. The research covers all facets of the industry, including an in-depth analysis of key players, market leaders, followers, and new entrants. The report also employs Porter's Five Forces and PESTLE analyses to evaluate competitive forces and external influences.

Research Methodology:

The research methodology involves a combination of secondary and primary research. Secondary research entails the extraction of segment characteristics, qualitative and quantitative data, and factors driving market growth from sources such as press releases, annual reports, government websites, and market research papers. Paid databases like Reuters, Bloomberg, and Hoovers contribute quantitative and qualitative data. Primary research validates secondary research, enhancing market sizing accuracy. The study adopts a bottom-up market sizing approach, considering both macro and micro perspectives to assess potential consumers, revenue, and current market. Additionally, micro-level segments are scrutinized for improved forecasting accuracy and granular insights.

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What are Sports Apparel Market Dynamics?

Market Drivers:

The India Sports Apparel Market has shown remarkable resilience even amid the ongoing global challenges posed by the COVID-19 pandemic. Industry executives have identified three key trends shaping the market - changes in customer behavior, digital transformation, and industry adaptation. Despite remote work arrangements, athleisure has gained traction, indicating a shift in traditional office attire preferences. Health awareness has propelled interest in sports and fitness, contributing to increased demand for sportswear. The surge in e-commerce, along with the rise of digital fitness solutions, has opened new avenues for sports apparel companies.

Market Restraints:

While the COVID-19 pandemic has had a lasting impact on various sectors, the sports apparel industry has shown remarkable resilience. However, challenges related to supply chain disruptions and shifting consumer priorities have impacted the market to some extent. Navigating these challenges has required strategic adaptation and innovation from industry players.

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Sports Apparel Market Segmentation?

The market is divided into track pants and tights, sports vests, T-shirts, sweatshirts and others based on product type. Sports t-shirts are anticipated to rule the market during the forecast period due to consumer preference. T-shirts are well-liked by the general people because of how comfortable they are. Furthermore, both early-morning joggers and professional athletes favour track trousers. Growing public health consciousness is driving the market as a whole. Before a few years ago, Indians were unaware of the kind of athletic footwear or clothing they wore for different activities like running, walking, playing tennis, etc. However, customers are becoming more aware of these specialised items today, and they are choosing to purchase them instead of the standard ones.

The market is divided into categories for women, men, and children based on end-user. The market in India for men's sportswear is the largest and is consistently growing, followed by the market for women, and a small amount is absorbed by the children's sector. The Indian sportswear market is dominated by men's apparel, then women's clothing, and lastly children's clothes. Due to shifting cultural norms and women's participation in sports like marathons, badminton, cricket, and other fitness pursuits, women's sportswear is the segment of the sportswear market that is expanding at the quickest rate. Previously, the majority of Indian sportswear was made for men. But in recent years, this has changed as a result of pay rises, lifestyle modifications, and an emphasis on welfare and health.

Who are Sports Apparel Market Key Players?

1. Adidas India Marketing Private Limited
2. Ralph Lauren Corporation
3. Puma Sports India Private Limited
4. Nike India Private Limited
5. Under Armour India Trading Private Limited
6. ASICS India Private Limited
7. Decathlon Sports India Pvt Ltd.
8. Shiv-Naresh Sports Private Limited
9. Skechers Retail India Private Limited
10. Cosco Sports
11. Nivia
12. Tyka
13. Sareen Sports
14. Alcis Sports
15. HRX

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Regional Insights:

India's sports apparel market is on a trajectory of substantial growth, with market value expected to reach USD 1926.10 Million by 2029. The market's projected CAGR of 16.2% underscores its potential as a lucrative sector. The thriving sports sectors, increased health consciousness, and government investments have played pivotal roles in this growth. As sports like cricket gain more attention, and fitness becomes a mainstream lifestyle choice, the demand for sports apparel is poised to surge. Additionally, the Indian Premier League's projected valuation of USD 6.8 billion with a growth rate of 7% is indicative of the market's strong foundation.

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
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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