Global Sportswear Market will be worth ~$365 Billion by 2027

According to Mobility Foresights, the global Sportswear Market size is ~$304 Billion in 2022 growing at a CAGR of 3.7% during the forecast period 2022 to 2027.

| Source: Mobility Foresights Mobility Foresights

Bangalore, Aug. 01, 2022 (GLOBE NEWSWIRE) --

Report Summary

The global sportswear market is expected to show robust growth, sustained by multiple demand levers, as consumers get attracted by the variety of options now available in the market across price points. The rising participation of the urban population in fitness activities post COVID will further escalate consumption of sportswear.

The volume growth in Asian sportswear market will be led by Vietnam, India and China.

The market is led by North American and European companies like Nike, which is the global leader in sportswear with 15% market share, followed by Adidas and Puma at  8% and 2% respectively. But going forward, with the rise of Asian companies like Anta, Li-Ning and Xtep from China and ASICS from Japan, the competitive landscape is very much likely to change.

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Key findings

  • The future growth of the athletic footwear industry will be in  the women footwear segment, due to increased participation of women in sports and fitness activities
  •  
  • Since the pandemic, ~50% of U.K consumers have done home workouts and purchased fitness items. Sports clothing and equipment businesses have benefited from the trend, and workout products saw 50% growth in sales in 2021.
  • Marketing Expense is a significant part of the operating expenses across all the sportswear manufacturers and contains various forms such as, Advertisements, Celebrity partnerships, Brands ambassadors, Events, etc.
  • Polyester and fabric prices were expected to increase due to shortage in production following China’s lockdown in Q1-2022, however, a faster recovery by Chinese MMF manufacturers has resulted in smaller fluctuations in price.

Market trends and opportunities

  • Due to COVID. fitness industry has adopted hybrid business model, which essentially is a combination of limited on-premise and online classes resulting in further demand creation in sportswear market
  • Sportswear companies are now looking to use more sustainable raw materials. In 2021-22, more than 60 percent of all Adidas products will be made with sustainable materials like recycled polyester or sustainably grown cotton.
  • Majority of the companies at present, are collaborating with various Content creators, Athletes, influencers, etc and sponsor major sports events like the FIFA, Winter Olympics, etc. as part of their marketing campaign along with regular advertisements across the board.
  • The athleisure trend's widespread popularity has attracted premium companies such as Dior, Louis Vuitton, Givenchy, and Alexander McQueen. These high-end manufacturers have given the gym classic a more designer makeover, combining materials, patterns, and texture.
  • Nike is willing to unify investments in data and analytics, demand sensing, insight gathering, inventory management and other areas against an end-to-end technology foundation to accelerate digital transformation

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Market Segmentation

By Product Type

  • Footwear
  • Apparel
  • Accessories

By Distribution Channel

  • Retail
  • E- Commerce

By Geography

  • China
  • US
  • Europe
  • Asia(Ex-China)
  • ROW

Related Reports

Europe sportswear market

UK Sportswear market

Activewear market in Australia

COMPANIES PROFILED

  • Nike International
  • Adidas AG
  • Puma SE
  • Under Armour Incorporated
  • Columbia Sportwear Company
  • Anta International Group holdings
  • Li Ning Company Limited
  • VF Corporation
  • Lululemon Atheletica
  • High Sierra

About Us
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