Sportswear Industry: Global Market to reach US$ 108.7 Bn by the end of 2025 – QY Research, Inc.

LOS ANGELES, Feb. 26, 2019 (GLOBE NEWSWIRE) -- QY Research always committed to provide in-depth and best research reports to the readers to get thorough insights of the industries. Recently, the company has come up with a new report for the forecasted period of 7 years, i.e. during 2018-2025. According to this report titled, "Global Sportswear Industry Research Report, Growth Trends and Competitive Analysis 2018-2025", the market was valued at US$ 84.1 Bn in the year 2018 and is expected to touch a valuation of US$ 108.7 Bn by end of 2025, expanding at a sluggish CAGR of 3.3% during the projected period.

The combination of sportswear and fashion is the major trend in the sportswear market. The global market for sportswear is tremendously booming because of the rising participation in fitness and sports activities throughout the predicted period.

Global Sportswear Market: Trends and Restraints

With increasing demand for fashionable and trendy sportswear the manufacturers are launching innovative products to fulfil the need of the consumers. Some broadly known technologies such as insulators, microfibers, and Nano-technology are being used in the sportswear. These apparels nowadays are no more restricted to athletes and sportspersons, and are also popular among consumers who are interested into sports and adventurous activities.  

Rising awareness among consumers regarding health and fitness in developing economies and increasing per capita income is likely to make sportswear an attractive and flourishing market in the coming years. Moreover, the rising participation of women in sports and fitness activities, is driving the growth of the market.

However, the availability of low quality and counterfeit products hamper the growth of the market in the coming years.

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Global Sportswear Market: Segmental Analysis

The global sportswear market for sportswear is segmented into product type and application. On the basis of product type, the sportswear market is further segmented into Skirts, Hats, Under Clothing, and Upper Garment. Upper Garment is likely to hold a remarkable share in the years to come.

The application segment is sub-segmented into Amateur Sport and Professional Athletic. Amateur Sport is expected to hold the largest portion of the market during the forecasted period.

Global Sportswear Market: Competitive Landscape

Obermeyer, Nike, Montbell, Adidas, Volcom, UNDER ARMOUR, Burton, Puma, THE NORTH FACE, Columbia, Marmot, ASICS, and Patagonia are the leading players of the sportswear market. Key players are having a monopoly in the global market for sportswear over the anticipated period. 

Global Sportswear Market: Regional Analysis

Based on the geography, Asia Pacific is likely to register the largest market share due to the growing population and rising disposable income of the consumers. North America is also likely to witness significant growth due to the adoption of newer and advanced technologies, and also because of growing awareness among consumers regarding health and fitness activities.

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