Sportswear Market By Product Type (Apparel, Footwear, Accessories), By Distribution Channel (Retail Stores, Online Channel, Sports Events And Sponsorships), By Price Range (Premium, Mid-Range, Budget), By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Sportswear Market By Product Type (Apparel, Footwear, Accessories), By Distribution Channel (Retail Stores, Online Channel, Sports Events And Sponsorships), By Price Range (Premium, Mid-Range, Budget), By Geographic Scope And Forecast

Sportswear Market Valuation – 2024-2031

A significant expansion is being witnessed within the Sportswear Market, with projections indicating continued growth in the foreseeable future. The market was valued at USD 428.21 Billion in 2023 and is expected to expand to USD 725.55 Billion in 2031, growing rapidly at a CAGR of 6.82% from 2024 to 2031.

Hey, it's no surprise that the sportswear market is booming! People are really focused on health and fitness these days, and they want clothes that can keep up. Exercise is seen as super important for feeling good, so naturally, we're seeing a huge demand for sportswear that's comfy, works well, and looks great. Plus, let's be real, we have more money to spend now, and we're willing to invest in high-quality gear. And don't forget about athleisure! That stuff is everywhere because it's the perfect mix of sporty and casual. You can look good and feel comfy no matter what you're doing. Finally, more and more people are actually playing sports, whether they're super competitive or just having fun. That means we need specialized sportswear that helps us perform our best in whatever we're doing.

Sportswear MarketDefinition/ Overview

Sportswear, also known as activewear, is a category of clothing specifically designed to be worn during physical activity and exercise. It encompasses a wide range of garments, footwear, and accessories that prioritize comfort, functionality, and the enhancement of performance.

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To what extent is the athleisure trend influencing consumer spending on sportswear?

The athleisure craze? It's totally changing how we spend our money on Sportswear. Think about itworkout gear is now everyday wear, thanks to athleisure, so we're buying more sportswear than ever! These clothes aren't just for the gym anymore; you can wear them all day long, which makes you want to buy, buy, buy. Athleisure is all about being comfy and looking good, so you feel like you're getting a real bargain. That feeling makes us more likely to splurge on, say, a pair of leggings you can rock at the gym and wear out for coffee, unlike those old-school, gym-only clothes. You can even find cool options on sites like Example Sportswear.

The athleisure trend is associated with increased spending on core pieces within the sportswear category. Staples like leggings, joggers, hoodies, and sneakers become central components of a wardrobe. Consumers may be more willing to invest in these core pieces, expecting higher quality and durability for frequent wear. Finally, the athleisure trend benefits athletic brands associated with both performance and style. This perception can lead to consumers being more willing to spend a premium on sportswear from these brands, potentially to cultivate a desired image.

So, how do we figure out just how much this "athleisure" thing is affecting how much we spend on sportswear? Well, there are a few ways! We could look at sales data to see if sneaker and yoga pant sales went up after athleisure became a thing. Or, we could just ask people! Consumer surveys can tell us directly if athleisure is making them buy more (or less!) sportswear, and focus groups can give us the juicy details on why people choose certain brands. And of course, we can't forget about social media! Analyzing online conversations helps us understand what people are saying and how they really feel about the whole athleisure craze, and how that affects their spending.

By utilizing these research methods, researchers can quantify the degree to which the athleisure trend is influencing consumer spending on sportswear. This trend will likely continue to exert a significant influence on the market, potentially leading to an overall increase in sportswear spending due to its expanded use in everyday life.

What is the impact of environmental concerns on the production and consumption of sportswear?

Environmental concerns are significantly impacting the production and consumption of sportswear, manifesting in several key areas. The choice of materials and production processes are a major concern. A large portion of sportswear relies on synthetic fabrics like polyester, which are derived from fossil fuels and contribute to microplastic pollution through fiber shedding during washing. These microplastics pollute waterways and harm ecosystems. Additionally, the dyeing and finishing processes for sportswear often involve harmful chemicals that can contaminate water sources and pose health risks to factory workers. Manufacturing sportswear, particularly synthetic materials, can also be energy-intensive, contributing to greenhouse gas emissions.

The way we buy and throw away sportswear isn't exactly helping the planet either. This whole athleisure thing? It's great for sales, but it also makes us want to buy new stuff all the time, which means more clothes end up in the trash. Remember those microplastics from washing synthetic clothes? They're ending up in the ocean and messing with marine life. Plus, a lot of this synthetic gear is tough to recycle, so it just piles up in landfills. But hey, it's not all bad news! People are starting to use better stuff, like organic cotton, recycled polyester, and even bamboo, to make sportswear. They're also figuring out better ways to dye and finish clothes that are less harmful to the environment. And some brands are pushing for higher quality, longer-lasting clothes, so we don't have to buy as much. Even better, some companies are trying out RTM programs and new recycling ideas to give old sportswear a second life.

As environmental awareness grows, consumers are becoming increasingly conscious of the impact of their clothing choices. This presents an opportunity for the sportswear industry to embrace sustainable practices throughout the supply chain. By utilizing eco-friendly materials, cleaner production methods, and promoting responsible consumption habits, the sportswear industry can minimize its environmental footprint and cater to a growing segment of eco-conscious consumers.

Category-Wise Acumens

How Does the Sportswear Apparel Drive the Market Growth?

The apparel segment is estimated to dominate the market during the forecast period. Sports apparel is an essential component for participating in various sporting activities and fitness regimens. It offers functionality, comfort, and breathability, improving performance and reducing injuries. The sheer variety of sportswear, catering to various sports and exercise disciplines, accounts for a large market share.

The athleisure trend, which involves wearing sports apparel for casual or everyday activities, has greatly increased the sportswear apparel market. Consumers love the comfort and style provided by sportswear apparel, resulting in rising demand outside of typical athletic contexts.

Furthermore, Fabric technology advancements are resulting in sportswear with superior moisture-wicking, breathability, and temperature management capabilities. Additionally, features such as integrated pockets, luminous fabrics, and injury-avoidance aspects improve the utility and appeal of athletic clothes.

What are the Key Drivers Propelling the Mid-Price Range Sportswear in the Market?

The mid-range segment is estimated to dominate the Sportswear Market during the forecast period. Mid-range sportswear strikes an appropriate mix of features, functionality, and pricing. Consumers who are active but not professional athletes frequently find that mid-range solutions meet their needs. These items frequently combine performance-enhancing innovations while remaining less expensive than luxury brands.

The mid-range market has a diverse selection of brands and product lines that cater to various sports, activities, and styles. This enables users to select solutions that meet their requirements and tastes. Also, many well-known athletic brands fall into the mid-range category, giving buyers a sense of confidence and familiarity.

Furthermore, consumers are becoming more value-conscious, seeking products that provide good quality and usefulness at a fair price. Mid-range sportswear meets this requirement by offering critical performance attributes without the high cost associated with premium brands. This emphasis on value makes mid-range products especially appealing to casual exercisers and budget-conscious shoppers.

Gain Access to Sportswear Market Report Methodology

Country/Region-wise Acumens

What are the key factors influencing consumer purchasing decisions within the North American Sportswear Market?

Consumer purchasing decisions within the North American Sportswear Market are influenced by a complex interplay of several key factors. Brand loyalty plays a significant role. Established brands like Nike, Adidas, and Under Armour hold a strong position due to the positive associations consumers have with these brands. These associations can encompass quality, performance, and specific athletic identity, ultimately influencing purchasing decisions. Price remains a major consideration, especially in North America, where value for money is often emphasized. Consumers are likely to compare prices across brands and product categories to find the best deal that meets their needs.

It's not just about the price anymore; North American consumers are really digging performance features. Think moisture-wicking fabrics that keep you cool during a workout, or compression gear that supports your muscles. Some sportswear even has fancy stuff like integrated cooling! Plus, let's face it, style matters. Thanks to the athleisure trend, workout clothes are now everyday clothes. People want stuff that looks good and can go from the gym straight to grabbing coffee. More and more, folks are also thinking about the environment, looking for sustainable materials like recycled polyester and brands with ethical production practices. Of course, what you're doing in your sportswear is key too. Runners want light, breathable shoes, while hikers need footwear that's tough and waterproof. Really, it all comes down to a mix of things. You might be super loyal to a brand (brand loyalty), but you might also be willing to spend a little extra (price) to get something with cool tech (like integrated cooling) that looks amazing (aesthetics) and fits that whole athleisure vibe.

How is the e-commerce boom impacting the distribution landscape for sportswear in Asia Pacific, with the rise of online marketplaces and mobile shopping?

Wow, the way people in Asia Pacific are buying sportswear is changing big time! It's all thanks to the e-commerce explosion, especially with online marketplaces and shopping on our phones. Let's face it, online shopping is just so easy and convenient, and more and more people in Asia Pacific are jumping on board. Traditional brick-and-mortar stores are feeling the pinch as folks are increasingly buying their Nike and Adidas online. Big players like Alibaba, Tmall, and JD.com are offering tons of brands and products, often at super competitive prices, which is just fueling the fire. And with almost everyone having a smartphone and mobile internet access, shopping directly from your phone has become huge. It's super easy to browse, compare prices, and snag that new pair of running shoes all from your couch! That's really what's driving the whole e-commerce boom for sportswear.

Online marketplaces? They're a real game-changer! They help both the big names and the up-and-comers in sportswear reach more customers across Asia Pacific. This is especially great for smaller brands or those focused on niche audiences within the region. To keep up, sportswear brands are totally rethinking their marketing. Think social media blitzes, influencer partnerships, and super-targeted ads to connect with shoppers online. Plus, e-commerce gives brands access to a goldmine of customer data. They can then use this to make shopping way more personal with tailored recommendations – happy customers, happy brands! But it's not all sunshine and rainbows. Fake products are a real problem, and that can scare shoppers away. And let's not forget the headaches of getting products delivered on time and handling returns across such a huge region. Those are big challenges for sportswear retailers to tackle online.

The e-commerce boom has revolutionized the distribution landscape for sportswear in Asia Pacific. By leveraging online marketplaces, mobile shopping, and data-driven strategies, sportswear brands can expand their reach, personalize the shopping experience, and cater to the evolving needs of consumers in this dynamic region. However, addressing concerns about product authenticity and efficient logistics will be essential for sustained growth in the online Sportswear Market.

Competitive Landscape

The Sportswear Market thrives on a dynamic interplay between established giants, agile newcomers, and innovative material suppliers. This competitive arena compels brands to constantly push boundaries. Leading players differentiate themselves through cutting-edge design, strategic sponsorships, and a commitment to sustainable practices. Brands offering performance-enhancing apparel, stylish athleisure wear, and eco-friendly production processes are well-positioned for future success.

Some of the prominent players operating in the Sportswear Market include

Nike, Inc., Adidas AG, The Walt Disney Company, VF Corporation, ASICS Corporation, Puma SE, Anta Sports Products Limited, Li Ning Company Limited, Lululemon Athletica Inc., New Balance Athletics, Inc., Under Armour Inc., Li Ning Company Limited, and Fila Holding Corp.

Latest Developments

  • In May 2024, Under Armour launched its first apparel made with Neolast fiber, a sustainable alternative to elastane, created in collaboration with Celanese, a US specialty materials firm.
  • In May 2024, Adidas launched its SS24 Paris collection for clay season in Germany. The collection comprises an 8-piece range of core apparel to raise awareness of Adidas’ Move For The Planet campaign.
  • In May 2024, Under Armour partnered with golfer Kris Kim, who sported their latest golf apparel and UA Drive Pro footwear.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2018-2031

Growth Rate

CAGR of 6.82% from 2024 to 2031

Base Year for Valuation

2023

HISTORICAL PERIOD

2018-2022

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Product Type
  • Distribution Channel
  • Price Range
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

Nike, Inc., Adidas AG, The Walt Disney Company, VF Corporation, ASICS Corporation, Puma SE, Anta Sports Products Limited, Li Ning Company Limited, Lululemon Athletica Inc.

Customization

Report customization along with purchase available upon request

Sportswear Market, By Category

Product Type

  • Apparel
  • Footwear
  • Accessories

Distribution Channel

  • Retail Stores
  • Online Retail
  • Sports Events and Sponsorships

Price Range

  • Premium
  • Mid-Range
  • Budget

Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Research Methodology of Market Research

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