Sports Apparel Market Size & Share Analysis, Growth Forecast Report 2024-2032

The global sports apparel market share was valued at USD 203.26 billion in 2023 and is expected to be worth USD 211.57 billion in 2024. The industry is projected to be valued at USD 298.06 billion by 2032, recording a CAGR of 4.38% during the forecast period.

The market has registered steady growth in recent years due to factors, such as new product launches and rising participation in sports activities in countries, such as India, the U.S., and others. The growing preference for outdoor recreational activities among the young population has contributed significantly towards the sales of sports apparel. This aspect, along with rising health consciousness and growing inclination towards sports will accelerate the global sports apparel market growth.

Fortune Business Insights™ presents this information in a report titled, "Global Sports Apparel Market, 2024-2032."

𝐆𝐞𝐭 𝐀 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/sports-apparel-market-107401

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐌𝐞𝐧𝐭𝐢𝐨𝐧𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝗦𝗽𝗼𝗿𝘁𝘀 𝗔𝗽𝗽𝗮𝗿𝗲𝗹 𝗠𝗮𝗿𝗸𝗲𝘁 𝐑𝐞𝐩𝐨𝐫𝐭:

‣ Nike, Inc. (U.S.)
‣ Adidas AG (Germany)
‣ Puma SE (Germany)
‣ Lululemon Athletica, Inc. (Canada)
‣ Under Armour, Inc. (U.S.)
‣ Columbia Sportswear Company (U.S.)
‣ Asics Corporation (Japan)
‣ FILA Holdings Corp. (South Korea)
‣ Mizuno (Japan)
‣ LI Ning Company Limited (China)

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧: 𝗦𝗽𝗼𝗿𝘁𝘀 𝗔𝗽𝗽𝗮𝗿𝗲𝗹 𝗠𝗮𝗿𝗸𝗲𝘁

𝗧𝗼𝗽𝘀 & 𝗧-𝘀𝗵𝗶𝗿𝘁𝘀 𝗪𝗶𝘁𝗻𝗲𝘀𝘀 𝗦𝘁𝗿𝗼𝗻𝗴 𝗥𝗶𝘀𝗲 𝗶𝗻 𝗦𝗮𝗹𝗲𝘀, 𝗠𝗶𝗴𝗵𝘁 𝗙𝘂𝗲𝗹 𝗠𝗮𝗿𝗸𝗲𝘁 𝗚𝗿𝗼𝘄𝘁𝗵
Based on product, the global sports apparel market is divided into tops & t-shirts, trousers & tights, shorts, and others. The tops & t-shirts segments account for the largest market share and may register a strong CAGR during the forecast period. More women are taking part in athletics every year. More people are also participating in outdoor recreational activities. In addition, companies are introducing new top and t-shirt designs & collections. For example, in August 2022, luxury fashion brand H&M launched its new sportswear brand 'H&M Move'. The brand will cater to the ever-growing demand for active wear among consumers. The new lineup consists of functional tops, lightweight jackets, and a wide range of tights and bras, along with garments designed to train and run.

𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝗣𝗮𝗿𝘁𝗶𝗰𝗶𝗽𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗪𝗼𝗺𝗲𝗻 𝗶𝗻 𝗦𝗽𝗼𝗿𝘁𝘀 𝗮𝗻𝗱 𝗥𝗲𝗰𝗿𝗲𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗔𝗰𝘁𝗶𝘃𝗶𝘁𝗶𝗲𝘀 𝘁𝗼 𝗕𝗼𝗼𝘀𝘁 𝗦𝗽𝗼𝗿𝘁𝘀 𝗔𝗽𝗽𝗮𝗿𝗲𝗹 𝗔𝗱𝗼𝗽𝘁𝗶𝗼𝗻
Based on demography, the market is segmented into men, women, and kids. The women segment is predicted to account for a sizeable market share. The growing percentage of women participating in sports and other outdoor recreational activities will fuel the adoption of tights, sports tops, and other garments. Many companies are launching new products to cater to the new market space.

For instance, in August 2021, ONLY, one of the leading European fashion brands for women, entered the sports apparel segment with its new collection "Only Play". This launch was aimed at strengthening its position as a fashion-forward brand in the market by providing a wide range of products to meet the rising demand from millennial women. The collection includes tops, tights, tank tops, shorts, and other items with technical specialties, such as removable and non-removable padding, racerback style, functional pockets, and windproof breathability to offer stability and comfort to women while performing their daily activities.

𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝗖𝗵𝗮𝗶𝗻 𝗼𝗳 𝗥𝗲𝘁𝗮𝗶𝗹 𝗢𝘂𝘁𝗹𝗲𝘁𝘀 𝘁𝗼 𝗜𝗺𝗽𝗿𝗼𝘃𝗲 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗦𝗮𝗹𝗲𝘀
In terms of distribution channel, the industry is bifurcated into online and offline. The offline segment is expected to capture a larger share during the forecast timeline. Many reputed brands, such as Nike, Lululemon, Adidas, and more are opening their own retail outlets. For instance, as per Nike's 2022 annual report, the brand had 344 stores in the U.S. and 702 stores outside the country. These initiatives will spur the growth of offline distribution channels.

𝐀𝐬𝐤 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/sports-apparel-market-107401

𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞:
The report includes:
‣ Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
‣ Comprehensive insights into regional developments.
‣ List of major industry players.
‣ Key strategies adopted by the market players.
‣ Recent industry developments include product launches, partnerships, mergers, and acquisitions.

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬:

𝗖𝗼𝗺𝗳𝗼𝗿𝘁 𝗮𝗻𝗱 𝗕𝗿𝗲𝗮𝘁𝗵𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗢𝗳𝗳𝗲𝗿𝗲𝗱 𝗯𝘆 𝗦𝗽𝗼𝗿𝘁𝘀 𝗔𝗽𝗽𝗮𝗿𝗲𝗹 𝘁𝗼 𝗗𝗿𝗶𝘃𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁
Several companies are launching a wide range of sportswear materials that can absorb sweat and keep the person cool and dry. Fabrics, such as cotton, spandex, microfiber, nylon, polyester, and calico are popularly used to make this apparel as these fabrics can make workout sessions comfortable by supporting body movements with optimal elasticity. For instance, in September 2022, Nike unveiled its latest innovation in the materials used to manufacture apparel called "Forward", which is manufactured with the help of a new production process that uses lesser steps and consumes lesser energy. The material has a lower density as compared to that of woven or knitted, making it more comfortable for athletes and a suitable alternative for climate-conscious clients.

𝗙𝗹𝘂𝗰𝘁𝘂𝗮𝘁𝗶𝗻𝗴 𝗥𝗮𝘄 𝗠𝗮𝘁𝗲𝗿𝗶𝗮𝗹𝘀 𝗣𝗿𝗶𝗰𝗲𝘀 𝘁𝗼 𝗥𝗲𝘀𝘁𝗿𝗮𝗶𝗻 𝗠𝗮𝗿𝗸𝗲𝘁 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁
Yarns and other fabrics used to make sports apparel have a time-consuming production process. According to the United Nations Conference on Trade and Development, the production of textiles takes place in a few major countries, such as India, China, Bangladesh, Pakistan, Brazil, and Turkey. For example, the India Brand Equity Foundation (IBEF) stated that India was the largest cotton producer, manufacturing around 362.18 lakh bales during the cotton season of 2021-22. The production of cotton is seasonal and depends on natural factors, such as rainfall, humidity, solar radiation, and others. Furthermore, the production of synthetic fibers, such as nylon, rayon, and polyester uses crude oil in large quantities. These factors are anticipated to restrain the market progress.

𝐆𝐞𝐭 𝐚 𝐐𝐮𝐨𝐭𝐞 𝐍𝐨𝐰:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/sports-apparel-market-107401

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

𝗥𝗶𝘀𝗶𝗻𝗴 𝗜𝗻𝗳𝗹𝘂𝗲𝗻𝗰𝗲 𝗼𝗳 𝗦𝗽𝗼𝗿𝘁𝘀 𝘁𝗼 𝗕𝗼𝗼𝘀𝘁 𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝗻 𝗠𝗮𝗿𝗸𝗲𝘁 𝗚𝗿𝗼𝘄𝘁𝗵
The global sports apparel industry is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America accounted for the largest market share owing to the growing consumer base for these products in the U.S. The region is heavily influenced by sports, such as basketball, football, and baseball, which has contributed significantly to the market progress. Furthermore, introduction of new products by market players will also fuel the demand for sports apparel in this region. For instance, in July 2022, DRAKE'S NOCTA announced plans to launch its new basketball apparel collection in collaboration with Nike. The collection will include performance-based garments, such as workout hoodies, tees, shorts, and socks.

𝗔𝗣𝗔𝗖 𝗥𝗲𝗴𝗶𝗼𝗻 𝗪𝗶𝘁𝗻𝗲𝘀𝘀𝗲𝘀 𝗥𝗼𝗯𝘂𝘀𝘁 𝗣𝗮𝗿𝘁𝗶𝗰𝗶𝗽𝗮𝘁𝗶𝗼𝗻 𝗶𝗻 𝗦𝗽𝗼𝗿𝘁𝘀
The Asia Pacific region is also holding a sizeable share in the global sports apparel market. The region is noticing robust participation in sports. The influence of sports is also growing in countries, such as India, Bangladesh, China, Australia, and others. The introduction of new sports events will further boost the sales of sportswear products. For instance, in September 2022, the Basketball Federation of India (BFI) unveiled the Indian National Basketball League (INBL) 5×5, which will see Bengaluru, Chandigarh, Chennai, Delhi, Mumbai, and Kolkata play over three rounds before heading to the playoffs. Such developments will increase the global sports apparel market share.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:

Companies operating in the sports apparel market are innovating their existing product lineup with the help of new launches. They are also increasing their regional presence by introducing advanced technologies in their products. These organizations are partnering with sports events and leagues to widen its customer reach. For instance, in May 2022, Adidas teamed up with Balenciaga to introduce a new collection at the latter's resort 2023 runway show in New York. It was instantly made available to shop at Balenciaga's website. Furthermore, new technologies, such as layering styles and texture blocking will enhance the demand for high-tech sports clothing in the forecast period.

𝐑𝐞𝐚𝐝 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
Sportswear Market
https://www.fortunebusinessinsights.com/sportswear-market-102571

Sports Footwear Market
https://www.fortunebusinessinsights.com/sports-footwear-market-102216

Sports Optic Market
https://www.fortunebusinessinsights.com/sports-optic-market-106448

𝐊𝐞𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:
In January 2023, Lululemon announced the launch of its new e-commerce website 'Lazada' as the athletic wear brand moves to expand its presence across Asia Pacific. The launch is for the brand's flagship store on Lazmall. In addition, this is the brand's first e-commerce partnership in Asia.

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This release was published on openPR.