Sports Apparel Market Size, Share, Industry Analysis, Segments And Forecast To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Sports Apparel Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $266.53 billion In 2028 At A CAGR Of 6.1% :

The sports apparel market size has grown strongly in recent years. It will grow from $198.82 billion in 2023 to $210.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to fitness and health awareness, athleisure trends, celebrity endorsements and influencer culture, and e-commerce growth.

The sports apparel market size is expected to see strong growth in the next few years. It will grow to $266.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to Sustainability and ethical practices, digitalization and personalization, emerging markets, health and wellness trends, and innovation in performance wear. Major trends in the forecast period include the rise of direct-to-consumer (DTC) brands, focus on inclusivity and diversity, expansion of sustainable product lines, integration of augmented reality (AR) and virtual reality (VR), health monitoring and fitness tracking.

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Sports Apparel Market Major Segments
The sports apparel market covered in this report is segmented -

1) By Product Type: Athletic Footwear, Sports Apparel, Accessories
2) By Distribution Channel: E-Commerce, Supermarket Or Hypermarket, Brand Outlets, Discount Stores
3) By End User: Children, Men, Women

Key Driver - The Role Of Sports And Fitness Activities In Driving The Sports Apparel Market

The increasing popularity of sports and fitness activities is expected to propel the growth of the sports apparel market. Sports activities refer to physical activities that involve physical exertion, skill, and competition, often governed by rules and patterns of behavior. The popularity of sports and fitness activities is driven by their health benefits, social interaction opportunities, stress-relieving effects, personal development aspects, entertainment value, and media influence. Sports apparel plays a significant role in enhancing the performance, comfort, and safety of athletes during sports and fitness activities, contributing to a more enjoyable and effective workout experience. For instance, in February 2023, according to the Topline Participation Report by the Sports & Fitness Industry Association (SFIA), a US-based trade association of industry sports and fitness brands, the physical activity rates in the United States increased for a fifth consecutive year. Furthermore, in 2022, 77.6% of the entire American population, totaling 236.9 million individuals, participated in at least one physical activity throughout the year. The United States experienced a 1.9% increase from 2021 in overall participation rates. Therefore, the increasing popularity of sports and fitness activities is driving the growth of the sports apparel market.

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Prominent Trend - Advancing Sustainability And Performance In Athletic Footwear

Major companies operating in the sports apparel market are developing and integrating innovative technologies, such as advanced foam technologies, into their sports apparel to enhance their performance and better serve customers. Advanced foam technologies involve the use of innovative foam materials and manufacturing processes to create lightweight, supportive, and protective garments for athletes. For instance, in July 2023, Nike, a US-based footwear company, unveiled ReactX, its newest installment of advanced foam technology. Nike has incorporated the updated foam into its InfinityRN 4 model running shoes to provide a higher energy return with a lower carbon footprint compared to its predecessors. This release marked a significant advancement in Nike's commitment to sustainability and performance in athletic footwear, catering to the needs of runners seeking supportive cushioning for a smooth run. ReactX is designed to reduce a pair of midsoles' carbon footprint by at least 43% through reduced energy in the production process while increasing energy return by 13%.

Sports Apparel Market Players
Major companies operating in the sports apparel market are Nike Inc., Adidas AG, The Gap Inc., Decathlon Group, Kappa, VF Corporation, Puma SE, Anta Sports Products Limited, Karhu Holding B.V., Skechers USA Inc., Ralph Lauren Corporation, Lululemon Athletica Inc., Hanesbrands Inc., Under Armour Inc., New Balance Athletics Inc., ASICS Corporation, The North Face Inc., Columbia Sportswear Company, Wolverine World Wide Inc., Li Ning Company Limited, Mizuno Corporation, Brooks Sports Inc., Deckers Outdoor Corp., Fila Holdings Corp., Iconix International, Reebok International Limited, Umbro International Limited

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Largest And Fastest Growing Region In The Market
North America was the largest region in the sports apparel market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports apparel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Sports Apparel Market Report Structure
3. Sports Apparel Market Trends And Strategies
4. Sports Apparel Market - Macro Economic Scenario
5. Sports Apparel Market Size And Growth
…..
27. Sports Apparel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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