Dublin, Dec. 10, 2018 (GLOBE NEWSWIRE) -- The "Running Apparel Market - Segmented by Product Type (Men, Women, Unisex), by Apparel Type (Clothing, Shoes, Others) by Distribution Channel (Offline Channel, Online Channel) and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global running apparel market is has witnessed many new innovation with respect to technology. Changing preferences of consumers with regards to comfort and style have resulted in the increase in the demand for customized running shoes in the running apparels market.
With these key factors, the global running apparel market is expected to grow at a rate of 6.6% during the forecast period, 2018-2023.
Fabrics used for running apparel have been developing considerably in terms of their breathability, weight and smart designs so as to increase the performance of the runner in extreme conditions. Increase in government initiative in various countries to improve the sport participation has been driving the demand for running apparels. For instance, in 2018, the Government of Australia is planning to invest USD 230 million in sport and physical activity initiatives over next five years.
Market Dynamics
Underlying factors behind the growing interest of the key players to invest in R&D for the inclusion of innovation and technology in running apparels, especially for running shoes. Many vendors are focusing on innovative technology by improving user exercise in improving their playing and running skills.
For instance Under Armour launched its first smart shoe models in February 2017. These shoes provide runners with automatic tracking capabilities and insights on muscular fatigue. Demand for functional shoes and apparel, which provide comfort while exercising, is thus increasing.
Special edition running apparels are likely to gain prominence in the coming years with the continuous partnership of global brands with athletes and major football clubs.New technologies such as seamless garments developed over recent years, have proved to be the big step forward to improve the quality and performance of original synthetic fabrics.
Market Segmentation
There is a massive growth in the participation of women running these days which have a huge influence on the type and range of apparels, leading to rise in the popularity of women running apparels. Sweat and water proof running clothes is expected to drive the running apparels market for clothes over the forecast period.
Manufacture of key sports brands like Nike and Adidas are using eco-friendly products such as organic cotton, recycled rubber, plastic materials, and water-based adhesives. Offline channel dominates the running apparel market with a significant market share and it also expected to remain so over the forecast period.
Regional Segmentation
Asia-Pacific records the highest CAGR of 7% during the forecast period followed by South America and Middle-East and Africa by region. North America holds the highest market share with high prominence of the running apparels in the United States in the global running apparel market.
Countries like the United Kingdom, Germany and France have led to the growth of European running apparel market. Nike Inc. and Adidas Inc. dominate the sportswear market in Western Europe. Both the brands saw an exponential growth in the past five years leaving little room for the smaller and private labelled European brands in the running apparel market.
Competitive Landscape
The market is highly dominated by the key players such as Adidas Inc., Nike Inc., VF Corp, Under Armour, Gildan holding a considerable market share in the global running apparel market. Key players are highly investing on R&D activities for better comfort and quality of running apparels. This has led them to gain competitive advantage over other players in the global running apparel market.
Developments in the Market
- Gildan.com plans to expand the label's sales to the United Kingdom and then on to Europe, Canada and later Japan. This expansion is aimed at gaining higher sales revenue and reach USD 100 million by the end of 2018.
Key Topics Covered
1. Introduction
1.1 Scope of the Running Apparel Market
1.2 Study Assumptions
1.3 Research Phases
1.4 Study Deliverables
2. Running Apparel Market Insights
2.1 Running Apparel Market Overview
2.2 Running Apparel Market Trends
2.3 Industry Attractiveness - Porter's Five Force Analysis
3. Running Apparel Market Dynamics
3.1 Running Apparel Market Drivers
3.2 Running Apparel Market Restraints
3.3 Running Apparel Market Opportunities
4. Running Apparel Market Segmentation
4.1 By Product Type
4.1.1 Men
4.1.2 Women
4.1.3 Unisex
4.2 By Apparel Type
4.2.1 Clothing
4.2.2 Shoes
4.2.3 Others
4.3 By Distribution Channel
4.3.1 Offline Channel
4.3.2 Online Channel
5. Running Apparel Market - Regional Analysis
5.1 North America Running Apparel Market Size (2018-2023)
5.2 Europe Running Apparel Market Size (2018-2023)
5.3 Asia-Pacific Running Apparel Market Size (2018-2023)
5.4 South America Running Apparel Market Size (2018-2023
5.5 MEA (Middle East and Africa) Running Apparel Market Size (2018-2023)
6. Running Apparel Market - Competitive Landscape
6.1 Most Active Companies
6.2 Key Strategies Adopted
6.3 Running Apparel Market Share Analysis
7. Running Apparel Market - Company Profiles
7.1 Nike Inc.
7.2 Adidas Inc.
7.3 The North Face - a VF Company
7.4 Under Armour Inc.
7.5 Puma
7.6 Columbia Sportswear Company
7.7 Anta.com
7.8 ASICS America Corporation
7.9 Amer Sports
7.10 Gildan.com
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