May 27, 2024
Sports Apparel Market

The Sports Apparel Market was valued at USD 18.27 Billion in 2022, and it is expected to reach USD 28.77 Billion by 2029, exhibiting a CAGR of 6.7% during the forecast period (2023-2029)

Sports Apparel Market Overview:

This Sports Apparel Market study looks at current and emerging industry trends and dynamics in the global Sports Apparel Market. Porous Silicon Substrates Extensive Market forecasting for the major Market segments is carried out between 2021 and 2027. Extensive Sports Apparel Market analysis is carried out by closely monitoring key product positions and the main competitors in the Market framework. To understand the competitive landscape of the worldwide Sports Apparel Market, key players are profiled and their strategies are thoroughly evaluated. 

Market Scope:

The analysis contains a current examination of the present Sports Apparel Market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Sports Apparel Market environment. Increased demand for Porous Silicon Substrates is driving the Market. The Market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.

Sports Apparel Market Dynamics: 

The new standard and a battleground is athleisure. Athleisure was a huge trend prior to COVID-19, but the pandemic has helped to further blur the lines between work and play, and there is a rising acceptance of casual attire in previously more professional settings. Sports goods companies must rely on their innovation capabilities and market knowledge to compete in this more congested industry as fashion brands quickly enter this space. Athletic items need to have a clear value proposition, emphasise material and design innovation, and leverage sports DNA because the athleisure sector is extremely competitive. The physical activity gap is an opportunity to increase everyone’s access to healthy lifestyles.

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Segmentation:

by Product

Top Wear
Bottom Wear
Support items

The market is divided into Top Wear, Bottom Wear, and Support products based on Product Type. The market share leader and projected to reach USD 76.2 billion in 2022 is the Top Wear sector. Throughout the forecast period, this market segment is anticipated to expand at a CAGR of 5.2%. A major component influencing market demand is consumers’ growing preference for top wear sports apparel over other top wears. T-shirts, sweatshirts, sports vests, sports hoodies, and other items make up the top wear category. With 34.7% of global sales in the Top Wear section coming from the United States in 2022, this country was the segment’s largest regional market.

by End-use

Men
Women
Children

Men, Women, and Children are the market segments based on End-Use. The Men end-use segment now holds the biggest market share and is anticipated to surpass it by USD 129.3 billion throughout the forecast period. This market’s expansion is related to both the increased participation of men in sports and physical activity and the growing popularity of sportswear due to its fashionable design and comfortable fit. During the projection period, the Women end-use sector is anticipated to expand at a CAGR of 7.19%. The market expansion of the sector is being driven by cultural shifts and the rising engagement of women in several sports, yoga, fitness centres, and other physical activities. In addition, women make up a larger percentage of runners than do men.

by Distribution Channel

Online
Offline

The market is divided into Online and Offline segments based on Distribution Channel. The Offline segment accounted for the greatest market share of in 2022 and is anticipated to continue to dominate the market during the projected period by 87.98 billion. Because they sell goods from global brands like Adidas, Nike, and others, stores, hypermarkets, and specialised showrooms are becoming more and more well-liked, which is why the offline industry is expanding. Choices like discounts and free trials before purchases, as well as the advantage of instant gratification, are credited with the segment’s rise. During the projection period, the Online segment is anticipated to experience the highest CAGR of 8.71%. increased online usage of smartphones and the internet

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Key Players:

The Market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide Market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the Market’s major influencing factors, as well as complete company profiles of

1. Nike Inc.
2. Fila
3. Lululemon Athletica Inc.
4. New Balance
5. Under Armour Inc.
6. Columbia Sportswear Company
7. Puma Se
8. Adidas AG
9. Umbro
10. Ralph Lauren Corporation
11. Anta International Group Holdings Ltd.
12. Li Ning Company Limited
13. VF Corporation
14. Jockey
15. Lotto Spa
16. Everlast Worldwide, Inc.
17. Brooks Sports, Inc.
18. Diadora S.p.A.
19. Million Special Industries Co. Ltd.

Regional Analysis:

Individual Market influencing variables and changes in Market laws that impact present and future Market trends are also included in the regional segment of the Market study. Data points such as downstream and upstream value chain analysis, technology trends, Porter’s five forces analysis, and case studies are just a few of the indicators utilized to anticipate Market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.

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COVID-19 Impact Analysis on Sports Apparel Market:

The COVID-19 epidemic has had a significant impact on the global Porous Silicon Substrates industry. Porous Silicon Substrates Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Market to decelerate in 2020. The negative impact of COVID-19 on the Market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2021, owing to increased demand for Porous Silicon Substrates.

Key Questions Answered in the Sports Apparel Market Report are:

  • Which segment was responsible for the largest share in the Sports Apparel Market?
  • How was the competitive scenario of the Market in 2020?
  • Which are the key factors responsible for the Market growth?
  • Which region held the maximum share in the Sports Apparel Market in 2020?

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