Sports Apparel Market Is Poised To Flourish At A 6.9% CAGR By 2033

In FY 2023, the sports apparel market reached a valuation of US$ 207 Billion. Furthermore, across the 2023-2033 period of assessment, growth is expected to accelerate at a whopping 6.9% CAGR, reaching US$ 400 Billion.

The growing engagement of women in amateur and professional sports and fitness activities is expected to boost the market. The growing convergence between fashion and sports, which has resulted in an expanded availability of trendy Sports Apparel, is expected to boost females’ enthusiasm even further. People are hunting for the ideal option from the many available brands as the economy and money expand. As a consequence, the sports products business is always expanding in response to product demand.

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Key Takeaways from the Market Study

  • As of 2023, Fact.MR expects the sports apparel industry to be valued at US$ 207 Billion
  • From 2023 to 2033, the sports apparel industry is poised to flourish at a 6.9% CAGR
  • By 2033, the sports apparel landscape is slated to reach a valuation of US$ 400 Billion
  • By end-user, the men segment is expected to dominate the market during the forecast period.
  • As per Fact.MR’s projections, the market for Sports Appareling the UK will likely expand at a 6.3% CAGR
  • China is poised to yield a CAGR of 6.5% with respect to Sports Appareling 2033

Competitive landscape:

The sports apparel market is highly fragmented, with numerous major worldwide and regional companies. Some of the market’s significant participants include. Companies are boosting their efforts in R&D and marketing, as well as expanding their distribution networks, in order to maintain their market position. Furthermore, they are pursuing competitive tactics by spending more in the development of new goods and technology for sports apparel production.

Key market players in the global sports apparel market are:

Nike Inc.
Adidas AG
Under Armour
Puma SE
Sketchers USA
Brooks
Yonex
Fila Korea

Recent Developments :

  • In May 2022, Puma teamed with Sonee Sports, a Maldives-based sports and leisure marketplace, to introduce the brand in the island country. Through this collaboration, the brand will be able to extend its offline retail presence and explore new avenues of distribution in the new market, such as e-commerce, sports clubs, and other distribution channels.

Key Segments Covered:

·         By Product Type :

  • Tops & T-Shirts
  • Hoodies & Sweatshirts
  • Jackets & Vests
  • Shorts
  • Socks
  • Surf & Swimwear
  • Pants & Tights
  • Others

·         By End Use :

  • Men Sports Apparel
  • Women Sports Apparel
  • Children Sports Apparel

·         By Sales Channel :

  • Online Sales Channel
    • Company Owned Websites
    • E-Commerce Websites
  • Offline Sales Channel
    • Modern Trade Channels
    • Independent Sports Outlet
    • Franchised Sports Outlet
    • Specialty Stores
    • Other Sales Channel

·         By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Afr

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Market Drivers Fueling Growth

Several factors have fueled the exponential growth of the sports apparel market:

  1. Active Lifestyles: The shift towards healthier lifestyles and increased awareness of physical fitness has driven demand for sports apparel that can seamlessly transition from workouts to everyday wear.
  2. Athleisure Trend: Athleisure, the fusion of athletic and leisurewear, has reshaped the sports apparel landscape. Consumers seek comfortable and stylish options that can be worn in various settings, blurring the lines between gym wear and casual wear.
  3. Celebrity Endorsements: Athletes and celebrities endorsing sports apparel brands have influenced consumer perceptions and purchasing decisions. These endorsements contribute to brand loyalty and the aspirational aspect of sports apparel.
  4. Technological Innovations: Advances in textile technology have revolutionized sports apparel, introducing moisture-wicking fabrics, temperature regulation, UV protection, and compression wear that enhance both performance and comfort.
  5. E-Commerce Boom: The rise of e-commerce platforms has expanded the reach of sports apparel brands. Consumers can now access a wide range of options and make purchases conveniently, driving the market's growth.

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