Press release
Sports Apparel Market Anticipated To Witness Robust Growth, Surpassing $282.42 Billion By 2029
Sports Apparel
What Is the Current Sports Apparel Market Size and Its Estimated Growth Rate?
The sports apparel market has grown significantly in recent years. It is expected to rise from $210.58 billion in 2024 to $223.92 billion in 2025, at a CAGR of 6.3%. The market's growth is attributed to increasing awareness around fitness and health, the athleisure trend, celebrity and influencer marketing, and the growth of online shopping platforms.
The sports apparel market is forecast to grow significantly, reaching $282.42 billion by 2029 at a CAGR of 6.0%. Contributing factors include ethical sourcing, growing digital personalization, expanding markets, wellness trends, and advancements in performance apparel. Trends include direct-to-consumer brand growth, inclusive marketing, sustainable product development, AR/VR usage, and fitness monitoring capabilities.
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How Are Emerging Segments Shaping the Sports Apparel Market Landscape?
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 Growth Factors Are Influencing Sports Apparel Market Expansion?
The rising popularity of sports and fitness activities is set to fuel the growth of the sports apparel market. Sports activities involve physical exertion, skill, and competition, often guided by specific rules. Their appeal is due to health benefits, social engagement, stress relief, personal development, entertainment, and media exposure. Sports apparel is crucial for boosting performance, comfort, and safety during these activities, enhancing the workout experience. In February 2023, the Sports & Fitness Industry Association (SFIA) reported that physical activity rates in the U.S. had increased for five consecutive years, with 77.6% of Americans participating in at least one physical activity in 2022. This trend supports the growth of the sports apparel market.
Who Are the Dominant Players Across Different Sports Apparel Market Segments?
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
What Trends Are Driving Growth in The Sports Apparel Market?
Leading companies in the sports apparel market are incorporating advanced technologies, such as foam innovations, to improve performance and cater to customer needs. These technologies involve using cutting-edge foam materials and manufacturing processes to produce lightweight, supportive, and protective gear for athletes. For example, Nike, a US-based footwear brand, introduced ReactX in July 2023, an advanced foam technology integrated into their InfinityRN 4 model running shoes. This updated foam provides higher energy return with a lower carbon footprint, marking a notable step toward sustainability and enhanced athletic performance.
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Which Geographic Regions Are Expected to Dominate the Sports Apparel Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Sports Apparel Market?
2. What is the CAGR expected in the Sports Apparel Market?
3. What Are the Key Innovations Transforming the Sports Apparel Industry?
4. Which Region Is Leading the Sports Apparel Market?
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