Sports Apparel Market to Exceed US$ 362.3 Bn by 2032 Amid Rising Demand for Trendy and Comfortable Sportswear

Sports Apparel Market to Gain 209 BPS as Sales of Trendy Tops & T-Shirts Increase at 6.7% CAGR Until 2032

In the latest report, Fact.MR provides in-depth insights into global sports apparel market for the upcoming decade. This study also highlights factors such as drivers, challenges, and opportunities creating lucrative growth prospects across various segments within the market including product type, end use, sales channel, and regions.

NEW YORK, April 12, 2022 /PRNewswire/ -- The global sports apparel market is poised to expand at a CAGR of 5.8% between 2022 and 2032. Overall sales in the sports apparel market are estimated to reach US$ 205.2 Bn in 2022.

Rising health consciousness is motivating people to engage in physical activities such as running, aerobics, yoga, swimming, and others. On account of this, to maintain a sporty look, sales of sports apparels are expected to increase over the forecast period.

Additionally, growing participation of women in sports and fitness activities is improving the demand for comfortable and fashionable sports apparel. This is likely to create prolific growth opportunities for the manufacturers.

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Moreover, key players are focusing on adopting new marketing strategies such as promotional marketing, advertising campaigns and celebrity brand endorsement for sports apparel. This is projected to push the demand in the market over the forthcoming years.

Subsequently, initiatives by government to encourage the participation in numerous sports activities is likely to increase the demand for athletic and comfortable sports apparel. To capitalize on this trend, several premium brands are promoting their active wear through social media to woo the consumers.

Consequently, demand for comfortable and fashionable active wear such as pastel colored yoga pants and others is surging through social media platforms. This is anticipated to spur the sales of sports apparel by 2.3x over the assessment period. 

Key Takeaways:

• North America is expected to hold around 26.2% of the overall sports apparel market share.
• East Asia sports apparel market is considered to be the most lucrative market, registering growth at a CAGR of 6.3% until 2032.
• Based on product type, the tops & T-shirts segment is projected to hold nearly 21.3% of the overall market share.
• In terms of end user, the women segment is projected to exhibit growth at 5.8% CAGR over the upcoming decade.
• Sales of hoodies & sweatshirts and jacket & vests are expected to increase at 6.3% CAGR and 5.8% CAGR, respectively.

Growth Drivers:

• Increasing demand for sports apparel with temperature control and moisture absorption material is estimated to create remunerative prospects for the market.
• Growing preference for versatile, trendy, and comfortable sports apparel is augmenting the sales of pastel colored pants & tights and hoodies & sweatshirts.

Restraints:

• Variation in the prices of raw materials used in the production of sports apparel is likely to hinder the growth in the market.
• Availability of counterfeit products similar to the original brands might restrain the sales, especially in India and China.

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Competitive Landscape:

Leading manufacturers operating in the global sports apparel market are concentrating on advancing their product line to cater to the growing demand for comfortable active wear. Meanwhile, some of manufacturers are using biodegradable materials to tackle growing recyclability issues as well as to gain competitive edge.

For instance,

• In 2021, PUMA unveiled athleisure collection for Royal Challenger Bangalore (RCB). The global brand introduced this new range in honor of its 3 years of partnership with RCB.
• In 2020, Kappa collaborated with Hyosung to introduce its new K-Spirit e-sports apparel collection at Tencent Global E-Sports Arena (TGA).

Key Companies Profiled by Fact.MR

• Nike Inc.
• Under Armour
• Adidas AG
• Sketchers USA
• Brooks
• Fila Korea
• Puma SE
• New Balance
• Asics
• Yonex

More Valuable Insights on Sports Apparel Market

Fact.MR in its latest study provides a comprehensive analysis on the global sports apparel market for the forecast period of 2022 to 2032. It also uncovers key factors spurring the sales of sports apparel market with detailed segmentation as follows:

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 and Africa (MEA)

Key Questions Covered in the Sports Apparel Market Report

• Who are the prominent manufacturers in the sport apparel market?
• Which region is anticipated to account for a maximum share in the global sport apparel market during 2022-2032?
• What is the estimated market size of sport apparel market in 2022?
• Which are the factors limiting the sales in the sport apparel market?
• What will be the market size of global sport apparel market during the forecast period (2022-2032)?
• What is the expected growth rate of the global sport apparel market until 2032?

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SOURCE Fact.MR