Sports Apparel market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Sports Apparel market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Report Digest
Global Sports Apparel Market: Overview
Sports apparel are those clothes that are worn at the time of strenuous physical activities such as playing sports or during workout sessions. These apparels are made in a way that offers both agility and comfort while performing any physical movement. It is generally designed as per the certain requirements of sports. Sports apparels also comprise those clothes that are used for outdoor sports activities.
Rising consciousness about health and ever changing fashion trends are likely to propel growth of the global sports apparel market over the tenure of assessment. Varying consumer tastes have led to people going for comfortable yet durable apparels. This shift in consumer trend is likely to shoot up the demand for sports apparels in the years to come.
Innovation in the marketing activities together with creative brand positioning and advertising is likely to bode well for the overall development of the global sports apparel market in near future. Superior quality and augmented functionality of sports apparels are expected to support growth of the global sports apparel market. Furthermore, increased media coverage of various sports events is likely to bolster the demand for sports apparel in years to come.
The global sports apparel market has been segmented based on distribution channel, end user, and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.
Global Sports Apparel Market: Notable Developments
The global sports apparel market has witness some developments in the last few years. One of such markets developments is mentioned below:
- In August 2019, Nike Inc. announced that it has made an acquisition of a Boston-based Celect, Inc, a predictive analytics company. With this latest acquisition, Nike is observed to bolster its strategy of direct-to-consumer. With the integration of Celect’s technology into the apps and website of Nike, the giant sports apparel and shoe brand will be able to predict better about the styles of apparels and sneakers customers want. The company will also be in a position to predict from where they want it and when they want it. This acquisition is expected to boost the sales of sports apparels by Nike in near future.
Some of the key market players of the global Sports Apparel market are
- Gap Inc.
- Under Armour, Inc
- Adidas AG
- Nike, Inc.
- Billabong International Limited
- Blacks Leisure Group Plc
Global Sports Apparel Market: Growth Drivers
Rise in Health Consciousness to Fuel Growth of the Market
A rise in the levels of disposable income, particularly in the developing countries together with increased awareness about health awareness is estimated to exert positive influence on the overall global sports apparel market. Research on the development for bringing in newer fabrics with better properties together with apparels integrated with increased functionalities is expected to offer immense growth opportunities to the industry participants. There exists ample scope of growth for the market in the untapped markets of women and elderly sportswear segment.
With the increased interest in sports activities, the volume of sales of sports apparel is likely to rise. Racket sports, ball-related sports, baseball are some of the sporting activities that are witness a rise in the number of tournaments. This is expected to give the demand for sports apparels a boost. A rise in the number of sports tournaments is likely to bolster developments in the global sports apparel market over the years of projection.
However, high cost of sports apparel due to massive investments in the research and development activities is likely to impede the growth of the global sports apparel market. Furthermore, rise in the availability of several counterfeit products is estimated to pose challenge for the growth of the market in the projection period.
Global Sports Apparel Market: Regional Outlook
North America is likely to exert dominance over the global sports apparel market over the forecast tenure. Presence of several leading sports apparels company such as Nike Inc., Under Armour Inc. are anticipated to amplify growth of the regional market. Increased awareness about health is another factor that is likely to boost the regional market further over the forecast period.
Asia Pacific is expected to emerge as another promising country in the global sports apparel market. Rapid growth of the market in the region is ascribed to the rise in the disposable income of the people together with health consciousness. Furthermore, emergence of various sports events such as IPL, Badminton Asia Championships are expected to boost growth of the regional market.
The global sports apparel market is segmented as:
End User
- Children
- Men
- Women
Distribution Channel
- E-Commerce
- Supermarket/Hypermarkets
- Brand Outlets
- Discount Stores
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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