Outdoor Apparel Market to Record a CAGR of 5.3%, Growing Tourism Industry to be a Key Trend - Technavio

NEW YORK, Sept. 2, 2022 /PRNewswire/ -- One of the key trends in the outdoor apparel market is the growing tourism industry. The increase in personal disposable incomes and the growth of the tourism industry have raised participation in outdoor activities such as hiking and trekking. This, in turn, has increased the demand for outdoor apparel. The growth of inbound and outbound tourism is driven by the rise in the number of international and domestic business, leisure, and sports tourists. These factors will support the market growth during the forecast period.

The outdoor apparel market size is expected to grow by USD 4.40 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 5.3% during the forecast period, according to Technavio.

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Outdoor Apparel Market: Major Segmentation

The outdoor apparel market is segmented by distribution channel (offline and online) and geography (North America, Europe, APAC, South America, and the Middle East and Africa).

By distribution channel, the offline segment will generate maximum revenue in the outdoor apparel market owing to factors such as the adoption of new business and retail strategies, such as pricing and wide assortments by retailers, as well as business expansion. Consumers prefer purchasing outdoor apparel from department stores owing to the availability of a wide range of products and the presence of expert customer service personnel.

In terms of geography, APAC will present significant opportunities for market vendors owing to the factors such as The rising millennial population, increasing disposable income, and growing awareness about health and fitness among people. Moreover, market growth in this region will be faster than the growth of the market in other regions. China and India are the key countries for the outdoor apparel market in APAC.

Outdoor Apparel Market: Major Growth Drivers

Product innovation leading to portfolio extensions and product premiumization is driving the growth of the market. Manufacturers are introducing outdoor apparel that has innovative designs, quality, and features. The rise in purchasing power, along with the increasing preference for innovative, comfortable, and lightweight outdoor apparel, is driving the sales of such products. Product premiumization is leading to an increase in the sales of outdoor apparel. Moreover, premiumization helps manufacturers in improving customer engagement with their brands and products, which will drive market growth.

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Outdoor Apparel Market: Key Vendor Offerings

• adidas AG - The company offers Adicolor classic high shine track jacket, which comes with two way full zip with a stand-up collar, made with recycled content generated from production waste, and available in variable sizes based on client requirements.
• ASICS Corp. - The company offers Men's Readyset Jacket Lam, which features soft, stretchy woven fabric with water resistance, designed to help maintain a dry body during running or jogging.
• Columbia Sportswear Co. - The company offers Men Cascade Ridege II Hooded Soiftshell Jacket, which comes with water-resistant fabric and an adjustable cuff and hem for extra protection.

Outdoor Apparel Market: Reasons to Buy Our Report

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist outdoor apparel market growth during the next five years
• Estimation of the outdoor apparel market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the outdoor apparel market across North America, Europe, APAC, South America, and the Middle East and Africa
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of outdoor apparel market vendors

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
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Website: www.technavio.com/

SOURCE Technavio

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