According to the report by Expert Market Research (EMR), the global sportswear market is projected to grow at a CAGR of 6.60% between 2024 and 2032. Aided by the rising global emphasis on health, fitness, and the sports industry, the market is expected to grow significantly by 2032.
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Sportswear refers to clothing specifically designed for physical activities and sports. These apparels are manufactured to provide comfort, safety, and enhanced performance to users. The increasing adoption of an active lifestyle, coupled with growing participation in sports and fitness activities, is boosting the demand for sportswear globally.
As per the sportswear market analysis, the rise of global sports events such as the Olympics, FIFA World Cup, and various other regional tournaments have elevated the appeal of sportswear. Moreover, endorsements by athletes and celebrities, coupled with the increasing influence of sports culture, are propelling the market’s growth. Brands are leveraging this influence by collaborating with high-profile sports personalities to enhance their brand image and widen their consumer base.
Apart from the functional aspect of sportswear, which includes improved performance, injury prevention, and muscle compression, fashion and aesthetics have also become significant drivers for sportswear market growth. With the blurring lines between casual wear and sportswear, there’s a rising trend of athleisure where sportswear is being incorporated into daily fashion.
The proliferation of e-commerce platforms has also immensely benefited the sportswear industry. Consumers can now access a wide range of products from various brands at the click of a button, making purchasing decisions easier and more informed. Brands, on the other hand, are employing data analytics provided by these platforms to understand consumer preferences and design products accordingly which further propels the sportswear market demand. The ease of online shopping, combined with the increased variety, has further augmented the growth of the global sportswear market.
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Another significant driver for the sportswear market is technological advancement. The integration of smart technology into sportswear, such as moisture-wicking fabrics, temperature-controlled clothing, and wearable fitness devices, has revolutionised the industry. These innovations not only enhance performance but also provide real-time data to users about their health and activity levels and further enhance the value of the sportswear market size.
Sportswear Market Segmentation
The market can be divided based on product, end user, distribution channel, and region.
Market Breakup by Product
- Clothes
- Shoes
- Accessories
Market Breakup by End User
- Men
- Women
- Kids
Market Breakup by Distribution Channel
- Online
- Offline
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global sportswear market. Some of the major players explored in the report by Expert Market Research are as follows:
- Nike, inc.
- Adidas AG
- Puma SE
- Lululemon Athletica Inc.
- Under Armour Inc.
- ASICS Corporation
- FILA Holdings Corp.
- Columbia Sportswear Company
- Li Ning (China) Sports Goods Co., Ltd.
- ANTA Sports Products Limited
- Others
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