Outdoor Clothing Market to Grow at 5.6% CAGR, Driven by Rising Outdoor Activities & Techwear Trends - Analysis by TMR

The outdoor clothing market has shown remarkable growth over the last decade, primarily driven by the increasing participation in outdoor activities and a growing consciousness towards health and fitness among consumers. The market's valuation of US$ 13.9 billion in 2021 is expected to surge to US$ 23.6 billion by the end of 2031, reflecting a steady CAGR of 5.6%. The rise in disposable incomes, coupled with the growing adoption of western lifestyles, particularly in emerging economies, is anticipated to fuel this growth further.

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Market Segmentation

The outdoor clothing market is segmented based on material, activity type, and distribution channel. In terms of material, the market is divided into natural and synthetic fibers. Natural fibers such as cotton, silk, wool, and jute are gaining popularity due to their comfort, sustainability, and versatility. Activity types include hiking, camping, mountaineering, cycling, and water sports, among others. Distribution channels encompass online and offline sales, with a significant shift towards eCommerce platforms, allowing companies to reach unexplored markets and diverse customer bases.

Regional Analysis

North America

North America dominated the global outdoor clothing market in 2021, with a valuation of approximately US$ 4.2 billion. The region's growth is driven by the high participation rates in outdoor recreational activities and significant consumer spending on fitness and wellness. The construction of hiking trails and the patronage by a large number of climbers have further bolstered the market. Consumers in the U.S., in particular, spent US$ 33.2 billion on fitness clubs, gyms, and related activities in 2021, underscoring the region's focus on sustainable and comfortable outdoor clothing.

Asia Pacific

Asia Pacific is the fastest-growing market for outdoor clothing, attributed to the increasing purchasing power of consumers in developing countries such as China, India, Japan, South Korea, Hong Kong, and Singapore. The willingness to invest in comfortable and high-performance outdoor clothing has attracted international brands to these markets. For instance, Timberland LLC has partnered with Myntra, an Indian eCommerce company, to sell its products online in India, tapping into the growing demand for outdoor apparel.

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Market Drivers and Challenges

Drivers

The primary drivers for the outdoor clothing market include the rising participation in outdoor activities and a growing awareness of health and fitness among consumers. The Outdoor Industry Association (OIA) reported that more than half of the U.S. population, approximately 160.7 million Americans, participate in outdoor recreational activities. The 2021 Outdoor Participation Trends Report revealed that 53% of Americans aged six and older engaged in at least one outdoor activity by 2020, the highest participation rate recorded.

Challenges

Despite the promising growth, the market faces challenges such as the proliferation of counterfeit outdoor clothing products, which leads to significant losses for both buyers and sellers. The fluctuating raw material prices and rapidly changing consumer preferences also pose challenges for manufacturers. The need for consumer education to identify genuine products and continuous innovation in product offerings are critical to overcoming these hurdles.

Market Trends

The emerging trend of techwear clothing is revolutionizing the outdoor clothing market. Modern consumers prefer stylish, waterproof, lightweight, and durable outdoor apparel that provides warmth even in extreme temperatures. Technological advancements, such as pressure technology that enhances muscle strength and oxygen supply, are being integrated into outdoor clothing. These garments can also create a microclimate by regulating temperature and moisture, enhancing comfort during outdoor activities.

Competitive Landscape

The global outdoor clothing market is highly fragmented, with a few key players holding significant market shares. Key players include Adidas AG, Columbia Sportswear Company, Hanesbrands Inc., VF Corporation, Hugo Boss AG, Mizuno Corporation, Nike Inc., Puma SE, Under Armour Inc., Patagonia, Inc., and Timberland LLC. VF Corporation, with its brand The North Face, holds a dominant position in the market and is expanding its presence in Asia Pacific. Columbia Sportswear and Nike Inc. are also notable players with substantial market shares.

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Future Outlook

The future of the outdoor clothing market looks promising, with continuous innovations and a focus on sustainable and eco-friendly products. Manufacturers are investing heavily in research and development to introduce new and improved outdoor apparel that meets the evolving needs of consumers. The rise in eCommerce activities and the increasing penetration of outdoor activities across the globe are expected to drive the market further.

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