Reflective Sportswear Market to grow at a CAGR of 4.3% by 2027, Driven by advanced marketing strategies of leading competitors- Technavio

NEW YORK, Feb. 22, 2023 /PRNewswire/ -- According to Technavio, the reflective sportswear market is expected to grow by USD 333.51 million between 2022 and 2027. The market is estimated to grow at a CAGR of 4.3% during the forecast period. North America will account for 34% of the growth of the global market during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the reflective sportswear market was valued at USD 1,206.53 million. For more insights on the historic market data from 2017 to 2021 , request a sample report

Leading trends influencing the market 

• The better usage of raw materials and technology in manufacturing reflective sportswear is a key trend influencing the demand for improved sportswear, including reflective sportswear, as it provides a high level of security, which is one of the preferences factors by most consumers. 
• The rising number of female motorcycle riders is a major shift taking place in the motorcycle industry. 
• For instance, the women biker clubs in the US are Motor Maids, Hurricane Biker Girls, Leather and Lace, and others. The Women's International Motorcycle Association (WIMA) was started in 1950 by Louise Scherbyn. At present, it has 20 WIMA divisions with approximately 1,300 WIMA members worldwide.
• With the advent of eco-friendly sportswear, there is a growing demand for sustainable products among customers leading to the key competitors catering to this demand by increasingly focusing on manufacturing products that are recycled and can reduce negative effects on the environment.
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Reflective Sportswear Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on type, Product (Apparels, Footwear, and Others), Distribution Channel (Offline and Online), and Geography (North America, APAC, Europe, South America, and Middle East and Africa). 

• The apparels segment will account for a significant share of the market's growth during the forecast period. The reflective sports apparel includes t-shirts, tanks, hats, jackets, and vests, which are used for different sports activities, such as biking, cycling, climbing, and trekking. The segment is growing at a steady rate. Reflective sports footwear, which comes in different styles for both men and women is one of the significantly growing products among sports enthusiasts. The popularity of reflective sportswear in specialty retail stores drives the growth of the offline segment. For instance, Adidas, a major vendor in the global reflective sportswear market, operates more than 2,000 retail stores of its own and more than 14,000 mono-branded franchise stores. The availability of exclusive designer collections and private-label brands also offers a competitive advantage to the stores. The vendors in global reflective sportswear are opening new retail outlets in local and regional markets to increase their sales through the offline channel.

Geography Overview
By geography, the global reflective sportswear market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global reflective sportswear market.

• North America is estimated to contribute 34% to the growth of the global market during the forecast period. The region is a popular destination for several adventure sports activities that are pursued by both tourists and the local population. For instance, in 2021, the US experienced a significant increase in the sales of motorcycles and cycles. The Motorcycle Industry Council (MIC) also reported that the sales of high-performance motorcycles and off-roaders had increased significantly during the same time. The reflective sportswear market in APAC is expected to grow exponentially during the forecast period due to the increasing participation of the region in various sports events. Europe, with countries like the UK, France, Germany, Italy, Greece, Belgium, the UAE, the Netherlands, and Denmark is the third-largest segment in the global reflective sportswear market because of the greater adoption of several sports activities, both professional and recreational players including hard adventure sports, in the region.

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• Reflective Sportswear Market – Market Dynamics
  Key factor driving market growth
  The improved marketing strategies by key competitors are one of the most result-oriented and popular marketing strategies, which are applied by almost all key reflective sportswear manufacturers. 
• The key competitors use celebrity endorsement as one of their primary marketing tools, which often launch new product lines of international competitors, thus increasing their sales revenues. 
• Physical and mental fitness benefits associated with extreme sports like cycling, trekking, climbing, and caving sometimes require light runs and sprints, which result in weight loss.
• Therefore, because of the benefits of extreme sports, the demand for reflective sportswear is high and is expected to continue increasing during the forecast period.

Major challenges hindering market growth

• The presence of a large number of counterfeit products, priced at a much lower rate compared with branded products but lack in quality and durability will also lead to market fragmentation, which eventually might result in a lack of price standardization, an uneven competitive scenario, and market share erosion.  
• The fragmented nature of the market with the presence of many competitors ranging from multi-national companies (MNCs) to medium-sized and small-sized companies becomes difficult to identify differentiating factors between the product offerings of different competitors.
• The alarming decline in vendor profit margin on account of the rising prices of raw materials and the increased competition forces key market competitors to reduce the prices of the products, thereby reducing their profit margins.
• For instance, in 2012 PUMA's gross profit margin declined because of the rising prices of raw materials. In addition, cost-driven end-users prefer low-cost reflective sportswear rather than investing large amounts of money in global brands.

Driver, Trend & Challenges are the factor of market dynamics that states about consequences & sustainability of the businesses, find some insights from a  sample report!

What are the key data covered in this Reflective Sportswear Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Reflective Sportswear Market between 2023 and 2027
• Precise estimation of the size of the Reflective Sportswear Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Reflective Sportswear Market industry across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Reflective Sportswear Market vendors

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1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global reflective sportswear market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global reflective sportswear market 2017 - 2021 ($ million)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.3 Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Apparels - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Apparels - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Apparels - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Apparels - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Apparels - Year-over-year growth 2022-2027 (%)

• 6.4 Footwear - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Footwear - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Footwear - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Footwear - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Footwear - Year-over-year growth 2022-2027 (%)

• 6.5 Others - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 46: Market opportunity by Product ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 47: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 48: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 49: Chart on Comparison by Distribution Channel
• Exhibit 50: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 59: Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027 
• Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 adidas AG
• Exhibit 112: adidas AG - Overview
• Exhibit 113: adidas AG - Business segments
• Exhibit 114: adidas AG - Key news
• Exhibit 115: adidas AG - Key offerings
• Exhibit 116: adidas AG - Segment focus

• 12.4 ASICS Corp.
• Exhibit 117: ASICS Corp. - Overview
• Exhibit 118: ASICS Corp. - Business segments
• Exhibit 119: ASICS Corp. - Key news
• Exhibit 120: ASICS Corp. - Key offerings
• Exhibit 121: ASICS Corp. - Segment focus

• 12.5 Columbia Sportswear Co 
• Exhibit 122: Columbia Sportswear Co - Overview
• Exhibit 123: Columbia Sportswear Co - Business segments
• Exhibit 124: Columbia Sportswear Co - Key news
• Exhibit 125: Columbia Sportswear Co - Key offerings
• Exhibit 126: Columbia Sportswear Co - Segment focus

• 12.6 Hanesbrands Inc.
• Exhibit 127: Hanesbrands Inc. - Overview
• Exhibit 128: Hanesbrands Inc. - Business segments
• Exhibit 129: Hanesbrands Inc. - Key offerings
• Exhibit 130: Hanesbrands Inc. - Segment focus

• 12.7 Hey Reflecto
• Exhibit 131: Hey Reflecto - Overview
• Exhibit 132: Hey Reflecto - Product / Service
• Exhibit 133: Hey Reflecto - Key offerings

• 12.8 illumiNITE
• Exhibit 134: illumiNITE - Overview
• Exhibit 135: illumiNITE - Product / Service
• Exhibit 136: illumiNITE - Key offerings

• 12.9 New Balance Athletics Inc. 
• Exhibit 137: New Balance Athletics Inc. - Overview
• Exhibit 138: New Balance Athletics Inc. - Product / Service
• Exhibit 139: New Balance Athletics Inc. - Key offerings

• 12.10 Nike Inc.
• Exhibit 140: Nike Inc. - Overview
• Exhibit 141: Nike Inc. - Business segments
• Exhibit 142: Nike Inc. - Key news
• Exhibit 143: Nike Inc. - Key offerings
• Exhibit 144: Nike Inc. - Segment focus

• 12.11 Pactimo LLC
• Exhibit 145: Pactimo LLC - Overview
• Exhibit 146: Pactimo LLC - Product / Service
• Exhibit 147: Pactimo LLC - Key offerings

• 12.12 Pentland Brands Ltd
• Exhibit 148: Pentland Brands Ltd - Overview
• Exhibit 149: Pentland Brands Ltd - Product / Service
• Exhibit 150: Pentland Brands Ltd - Key offerings

• 12.13 PUMA SE
• Exhibit 151: PUMA SE - Overview
• Exhibit 152: PUMA SE - Business segments
• Exhibit 153: PUMA SE - Key news
• Exhibit 154: PUMA SE - Key offerings
• Exhibit 155: PUMA SE - Segment focus

• 12.14 PVH Corp.
• Exhibit 156: PVH Corp. - Overview
• Exhibit 157: PVH Corp. - Business segments
• Exhibit 158: PVH Corp. - Key offerings
• Exhibit 159: PVH Corp. - Segment focus

• 12.15 SHIMANO INC
• Exhibit 160: SHIMANO INC - Overview
• Exhibit 161: SHIMANO INC - Business segments
• Exhibit 162: SHIMANO INC - Key offerings
• Exhibit 163: SHIMANO INC - Segment focus

• 12.16 Under Armour Inc.
• Exhibit 164: Under Armour Inc. - Overview
• Exhibit 165: Under Armour Inc. - Business segments
• Exhibit 166: Under Armour Inc. - Key offerings
• Exhibit 167: Under Armour Inc. - Segment focus

• 12.17 Vista Outdoor Inc.
• Exhibit 168: Vista Outdoor Inc. - Overview
• Exhibit 169: Vista Outdoor Inc. - Business segments
• Exhibit 170: Vista Outdoor Inc. - Key offerings
• Exhibit 171: Vista Outdoor Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 172: Inclusions checklist
• Exhibit 173: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 174: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 175: Research methodology
• Exhibit 176: Validation techniques employed for market sizing
• Exhibit 177: Information sources

• 13.5 List of abbreviations 
• Exhibit 178: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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.

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