Press release
Global Sports Apparel Market to Reach $282.42 Billion by 2029, Growing at 5.98% CAGR
Sports Apparel
The increasing popularity of sports and fitness activities is expected to drive the growth of the sports apparel market. Sports and fitness activities, known for their physical, social, and mental benefits, are increasingly popular due to their health advantages and media influence. Sports apparel enhances athletes' performance, comfort, and safety during these activities. In February 2023, SFIA reported that 77.6% of Americans participated in physical activities in 2022, marking a 1.9% increase from the previous year. The growing interest in sports and fitness activities is driving the sports apparel market.
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What is the future CAGR of the sports apparel market, and how will it impact industry expansion?
The sports apparel market has grown significantly in recent years. It will increase from $210.58 billion in 2024 to $223.92 billion in 2025, reflecting a CAGR of 6.3%. This growth is attributed to fitness and health awareness, athleisure trends, celebrity endorsements, and the growth of e-commerce.
The sports apparel market is set to grow to $282.42 billion by 2029, at a CAGR of 6.0%. Growth is driven by sustainability and ethical practices, digitalization, emerging markets, health trends, and innovation in performance wear. Key trends are the rise of DTC brands, inclusivity, sustainable product lines, and the use of AR/VR and fitness tracking.
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What are the most significant trends transforming the sports apparel market today?
Companies in the sports apparel market are integrating innovative technologies like advanced foam to improve performance and customer satisfaction. Advanced foam technologies create lightweight, supportive garments for athletes. In July 2023, Nike introduced ReactX, a new foam technology incorporated into the InfinityRN 4 model running shoes. ReactX provides greater energy return and a reduced carbon footprint by at least 43%, while enhancing cushioning for a smoother run and catering to sustainability.
Which key market segments comprise the sports apparel market and drive its revenue growth?
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
Subsegments:
1) By Athletic Footwear: Running Shoes, Training Shoes, Sports-Specific Shoes (Soccer, Basketball, Tennis Shoes), Casual Sports Footwear
2) By Sports Apparel: Tops (T-shirts, Tank tops, Jerseys), Bottoms (Shorts, Sweatpants, Leggings), Outerwear (Jackets, Hoodies, Tracksuits), Sports Bras, Compression Wear
3) By Accessories: Sports Bags, Hats And Caps, Socks, Gloves, Headbands Or Visors, Knee Or Elbow Supports
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Which geographical regions are pioneering growth in the sports apparel 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.
Who are the leading players fueling growth in the sports apparel market?
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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What Is Covered In The Sports Apparel Global Market Report?
•Market Size Forecast: Examine the sports apparel market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the sports apparel market for a structured understanding.
•Key Players Overview: Analyze major players in the sports apparel market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the sports apparel market.
•Segment Contributions: Evaluate how different segments drive overall growth in the sports apparel market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the sports apparel market.
•Industry Challenges: Identify potential risks and obstacles affecting the sports apparel market.
•Competitive Landscape: Review strategic developments in the sports apparel market, including expansions, agreements, and new product launches.
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