Sports Apparel Market

According to Stratistics MRC, the Global Sports Apparel Market is accounted for $207.75 billion in 2023 and is expected to reach $317.26 billion by 2030 growing at a CAGR of 6.2% during the forecast period. The Sports Apparel Market is the industry involved in the design, manufacturing, and sale of clothing and accessories specifically tailored for sports and physical activities. These products are engineered to provide comfort, flexibility, and performance enhancements for athletes and fitness enthusiasts. Sports apparel includes items like athletic jerseys, workout leggings, sneakers, and sports bras. Its primary use is to optimize athletic performance and comfort during physical activities, ranging from professional sports competitions to recreational workouts, thereby catering to the diverse needs of athletes and active individuals.

According to the Physical Activity Council's 2022 Participation Report, over 54.9% of Americans aged six and older participated in individual or team sports in 2020.



Market Dynamics:

Driver:

Rising adoption for its comfort and breathability

Consumers increasingly prioritize comfort in their clothing choices, whether for sports or casual wear. Sports apparel, engineered with moisture-wicking fabrics, ventilation, and ergonomic designs, offers unparalleled comfort during physical activities. Additionally, the trend of athleisure wear has blurred the lines between sportswear and everyday attire, further boosting demand. As more individuals recognize the benefits of comfortable and breathable sportswear in active and leisure settings, the sports apparel market experiences substantial growth, catering to the evolving preferences and lifestyles of a diverse consumer base.

Restraint:

Fluctuating raw materials prices

Sportswear relies on various materials like synthetic fabrics, cotton, and elastane, whose prices can be volatile due to factors such as supply chain disruptions, weather conditions, and global economic fluctuations. These cost fluctuations can challenge manufacturers' ability to maintain stable pricing and profit margins, potentially leading to increased production costs. To mitigate this restraint, companies may need to diversify their sourcing strategies, invest in sustainable materials, and employ efficient supply chain management to adapt to changing raw material costs and maintain competitiveness in the sports apparel market.

Opportunity:

Rising desire to live an active lifestyle

With growing awareness of the benefits of physical fitness, more people are participating in sports, fitness routines, and outdoor activities. This trend fuels demand for sports apparel designed to enhance performance, comfort, and style. As individuals seek clothing that complements their active pursuits, sports apparel manufacturers can tap into this expanding market by offering innovative and versatile sportswear options. The opportunity lies in catering to the evolving needs and preferences of consumers who prioritize both fitness and fashion, driving continuous growth in the sports apparel industry.

Threat:

Commercializing fake sports apparel products

Counterfeit items not only infringe upon intellectual property rights but also compromise product quality, performance, and safety. Such fake products can mislead consumers into purchasing substandard and potentially harmful sportswear. Moreover, it erodes the trust consumers place in reputable brands, leading to brand dilution and revenue loss for legitimate manufacturers. To combat this threat, stringent anti-counterfeiting measures, including stricter regulations, enhanced authentication methods, and consumer education, are essential to protect both the industry's integrity and the safety of consumers.

Covid-19 Impact

The COVID-19 pandemic had a significant impact on the sports apparel market. The demand for sports apparel fell precipitously as a result of athletic events being postponed or cancelled as well as the closing of gyms and fitness facilities. Sales declines and supply chain interruptions impacted several sports clothing firms. However, there was a progressive recovery when constraints were loosened and people acclimated to at-home workouts and outside activities. Additionally, the industry was positively impacted by the trend toward athleisure clothing and the rise in popularity of virtual exercise platforms. To reach customers, businesses have to concentrate on e-commerce and digital marketing techniques. Overall, despite some early difficulties brought on by the pandemic, the sports gear sector proved resilient and adaptable to shifts in customer behavior.

The shorts segment is expected to be the largest during the forecast period

Shorts segment is anticipated to hold the largest market share during the forecast period. They are designed to provide athletes and fitness enthusiasts with comfortable and breathable lower-body clothing suitable for various sports and physical activities. Sports shorts come in various styles, including running shorts, basketball shorts, and compression shorts, tailored to specific athletic needs. They offer freedom of movement, moisture-wicking properties, and often incorporate features like pockets or reflective elements. Shorts are a versatile and essential component of sports apparel, ensuring optimal performance and comfort for athletes across different disciplines, from running and cycling to team sports like soccer and basketball.

The online sales channel segment is expected to have the highest CAGR during the forecast period

The online sales channel market is expected to experience rapid growth. This channel has gained immense popularity due to its convenience, extensive product variety, and accessibility to a global customer base. Shoppers can browse, compare, and purchase sports apparel items online, often with added features like user reviews, sizing guides, and personalized recommendations. Online sales channels offer the advantage of reaching a broader audience, enabling easy product discovery, and facilitating hassle-free transactions. It has revolutionized the sports apparel industry by enhancing the shopping experience and driving market growth in the digital age.

Region with largest share:

The largest region for Sports Apparel is anticipated to be North America during the forecast period because it characterized by a strong sports culture, a highly active population, and a robust sports industry. It encompasses major markets like the United States and Canada, where sports like American football, basketball, and baseball have a massive following. The demand for sports apparel is driven by professional leagues, collegiate sports, and fitness-conscious consumers. Notably, athleisure trends have been thriving, blurring the lines between sportswear and casual wear. North America is also a hub for sports apparel innovation, with leading brands and technological advancements, contributing significantly to the global sports apparel market.

Region with highest CAGR:

During the period of the forecast, Asia-Pacific is anticipated to have among the market's fastest growth rates, driven by its large and diverse population, increasing health consciousness, and growing sports participation. The region boasts a robust manufacturing base, making it a hub for sports apparel production. Popular sports such as cricket, football, and badminton fuel the demand for sportswear, while the rising popularity of fitness and wellness activities bolsters the athleisure trend. E-commerce and urbanization have further accelerated the market's growth, allowing consumers easy access to a wide range of sports apparel. As a result, Asia-Pacific represents a dynamic and rapidly expanding segment in the global sports apparel industry.



Key players in the market

Some of the key players profiled in the Sports Apparel Market include Adidas AG, ASICS, Brooks Sports, Inc., Columbia Sportswear Company, Diadora S.p.A., Everlast Worldwide, Inc., Fila Holdings Corp., Jockey, Li Ning Company Limited, Lotto Spa, Lululemon Athletica Inc., Million Special Industries Co. Ltd., New Balance Athletics Inc., Nike, Inc., Puma SE, Skechers, Umbro, Under Armour Inc., VF Corporation and Yonex.

Key Developments:

In April 2023, Lululemon announced the launch of its new e-commerce website ‘Lazada’ as the athletic wear brand moves to expand its presence across Asia Pacific. The launch is for the brand's flagship store on Lazmall. In addition, this is the brand’s first e-commerce partnership in Asia.

In December 2022, Adidas unveiled a new sportswear capsule collection. The new capsule collection features versatile pieces with minimalist aesthetics that are comfortable and can be worn throughout the day, and several are crafted partially from recycled materials. Some of the pieces include a women's rib dress, a men's classic tee paired with woven pants and a coach jacket, and a women's oversized hoodie with a rib crop top and biker shorts, among others.

In August 2022, Lululemon Athletica, a performance apparel brand based in Canada, launched its first overseas technology center in Bengaluru, India—its first such center outside the North American market. As a result, the company will be able to enhance its capabilities and infrastructure to support the growth of the company around the world.

Product Types Covered:
• Hoodies & Sweatshirts
• Jackets & Vests
• Pants & Tights
• Shorts
• Socks
• Surf & Swimwear
• Tops & T-Shirts
• Other Product Types

Sports Covered:
• Soccer
• Badminton
• Baseball
• Basketball
• Cricket
• Hockey
• Other Sports

Sales Channels Covered:
• Online Sales Channel
• Offline Sales Channel

End Users Covered:
• Children
• Men
• Women

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026 and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances