Sportswear Market Outlook
According to the report by Expert Market Research (EMR), the global sportswear market reached a value of nearly USD 313.22 billion in 2023. Aided by the emerging trend of athleisure wear and the rising popularity of sporting events, the market is projected to grow at a CAGR of 6.60% between 2024 and 2032 to reach a value of around USD 558.14 billion by 2032.
Sportswear refers to apparel and footwear designed for sports and physical activities. It includes a wide range of products such as athletic shoes, tracksuits, gym wear, swimwear, and sports bras, among others. The primary function of sportswear is to provide comfort, enhance performance, and protect athletes from injuries.
The global sportswear market growth is primarily driven by the increasing awareness of the health benefits of regular physical exercise. As more people engage in sports and fitness activities, the demand for appropriate sportswear has surged. This trend is further supported by the rising popularity of gym memberships and fitness programs, which has led to an increased demand for gym wear and training shoes.
Get a Free Sample Report with Table of Contents@ https://www.expertmarketresearch.com/reports/sportswear-market/requestsample
Another significant factor contributing to the market growth is the rising trend of athleisure, where sportswear is worn as casual wear. This trend has expanded the consumer base for sportswear, as it is no longer limited to athletes or fitness enthusiasts. Athleisure has become a fashion statement, leading to the development of stylish and versatile sportswear that can be worn for various occasions. This is one of the key sportswear market trends.
In addition, advancements in technology and materials have led to the development of innovative sportswear products. Features such as moisture-wicking, breathability, and lightweight designs have enhanced the performance and comfort of sportswear, attracting more consumers to invest in high-quality athletic apparel and footwear.
The global sportswear market expansion is also influenced by the growing popularity of sports events and leagues, which has led to an increase in the demand for team-specific sportswear and merchandise. Additionally, the endorsement of sportswear brands by celebrities and athletes has played a crucial role in shaping consumer preferences.
As the global sportswear market continues to evolve, several emerging trends and opportunities are shaping its future. One such trend is the increasing focus on sustainability and eco-friendly practices. Consumers are becoming more environmentally conscious, leading to a demand for sportswear made from sustainable materials, such as recycled polyester and organic cotton. Brands that prioritise sustainability in their products and operations are likely to gain a competitive edge in the market.
Another significant trend is the integration of technology into sportswear. Smart sportswear, equipped with sensors and wearable technology, is gaining popularity among athletes and fitness enthusiasts. These products can track performance metrics, monitor health indicators, and provide personalised feedback, enhancing the overall sports experience. As technology continues to advance, the development of innovative smart sportswear is expected to be a key growth area for the market in the forecast period.
Personalisation and customisation are also becoming increasingly important in the market. Consumers are seeking products that cater to their individual needs, preferences, and body types. Brands that offer customisable options, such as personalised fit, colour choices, and performance features, are likely to attract a more diverse customer base. This is expected to contribute to the global sportswear market expansion.
In addition, the rise of e-commerce and online shopping has promoted the sportswear market development. Consumers can easily browse and purchase a wide range of sportswear products from the comfort of their homes. Online retail channels offer convenience, variety, and competitive pricing, making them a popular choice for consumers. Brands that effectively leverage e-commerce platforms and digital marketing strategies are poised for success in the digital age.
Read Full Report with Table of Contents@ https://www.expertmarketresearch.com/reports/sportswear-market
However, the market faces challenges such as the presence of counterfeit products and fluctuating raw material prices, which can impact the quality and pricing of sportswear. To address these challenges, manufacturers are focusing on research and development to innovate and improve the quality of their products, as well as implementing stringent quality control measures.
In conclusion, the global sportswear market is poised for continued growth, driven by the increasing participation in sports and fitness activities, the rising trend of athleisure, and advancements in product technology and materials. As consumers become more health-conscious and fashion-forward, the demand for functional and stylish sportswear is expected to remain strong in the coming years.
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
About Us
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today’s competitive market.
Don’t miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation’s future success by acquiring one of our Expert Market Research reports today.
Media Contact:
Company Name: Claight Corporation
Contact Person: Eren smith, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com
Aus. Site: https://www.expertmarketresearch.com.au/
