A New Wave of Fitness Oriented People Are Causing a Positive Growth in The Global Sports Apparel Market

Allied Market Research has published an in-depth report on the sports apparel market for the duration of 2015 to 2020. The report chalks out the details of the key market factors, the market segmentation on the basis of the end user, mode of sale, and the geographical sphere of target. The global sports apparel market is expected to register $184.6 billion by the end of 2020. A CAGR of 4.3% is registered during the entire forecast period of 2015–2020.

It contains a well-researched segment on the market overview which mentions the market definition and scope, key findings, market share analysis, the Porter’s Five Forces analysis, drivers, and the opportunities that are accompanied by restraints. The men’s section of sports apparel is financially dominating with a 52% share of the market revenue. Women’s entry into fitness regimes is witnessing a gradual rise. To meet their demands, a compound annual growth rate of 5.7% is registered solely in the women’s segment. The tech-savvy customers are moving on to the online mode of shopping. This phenomenon was responsible for a remarkable market share starting from 2014. The online segment is currently contributing with a CAGR of 9.5% during the forecast period.

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The market has been thoroughly analyzed on the basis of Porter’s Five Forces analysis. As per the results, the report broaches about the bargaining power of the buyers and suppliers. The key market players have an upper hand over the buyers since new entrants cannot easily gain access to this premium market. This has also reduced the number of substitutes available. However, the market leaders face stiff competition from the major shareholders.

The market dynamics give a detailed information on the drivers that lead to sales, opportunities, and drawbacks that accompany the segment. The fitness conscious consumer, rise in disposable income, and the need to be a part of the trendy population is responsible for a boost in sales. However, the need to curb counterfeit products has been a major restraint. Spurious products may tarnish the brand image. Besides this, women participation in sports is viewed as a plus point for the key players.

There is a detailed overview of each of the geographical segment. These are North America, Europe, Asia-Pacific, and LAMEA. According to it, North America is currently leading in the sports apparel retail market while Asia-Pacific is following suit with the highest growth rate to its credit. This is due to the net disposable income contributed from India, China, and the U.S.A.

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The key market players profiled in the report are Adidas AG, Nike Inc., Puma SE, Under Armour Inc., Ralph Lauren Corporation, Umbro Ltd., Fila Inc, Columbia Sportswear Company, New Balance Athletic Shoe Inc., and, Lululemon Athletica Incorporation. The report outlines each of their business performance in the market along with their strategies that are required to capture the growing sector.

The key points to be noted in this report for the global sports apparel market:

• The in-depth analysis of the driving factors includes the restraints affect the global sports apparel market.
• Important qualitative and quantities data mentioned, enables the key players analyze the global market situation.
• SWOT analysis aids the stakeholders study the internal environment for strategy formulation.
• The men’s segment will consistently dominate the market throughout the forecast period.
• Despite online boom, the retail store sport segment will grow at a CAGR of 3.1% during the forecast period.
• Primary and secondary research intelligence have compiled the business tactics followed by the major market players across target geographies.

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