2024 Global Market Report: Sports Apparel Industry Insights and Future Outlook
Sports Apparel Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Sports Apparel Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 20, 2024 /EINPresswire.com/ -- The global sports apparel market is projected to grow from $198.82 billion in 2023 to $210.58 billion in 2024, at a CAGR of 5.9%. The market is anticipated to reach $266.53 billion by 2028, driven by sustainability and ethical practices, digitalization and personalization, emerging markets, health and wellness trends, and innovation in performance wear.
Increasing Popularity of Sports and Fitness Activities Drives Market Growth
The increasing popularity of sports and fitness activities is a significant factor contributing to the growth of the sports apparel market. Sports apparel enhances the performance, comfort, and safety of athletes, making workouts more effective and enjoyable. According to the Topline Participation Report by the Sports & Fitness Industry Association (SFIA), physical activity rates in the United States increased for the fifth consecutive year in February 2023. With 77.6% of the American population participating in at least one physical activity in 2022, the trend of increasing sports and fitness activities is set to propel market growth further.
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Key Players and Market Trends
Major companies operating in the sports apparel market include Nike Inc., Adidas AG, The Gap Inc., Decathlon Group, and Kappa. These companies focus on developing and integrating innovative technologies, such as advanced foam technologies, into their products to enhance performance and serve customers better. For example, in July 2023, Nike unveiled ReactX, its latest advanced foam technology incorporated into the InfinityRN 4 model running shoes, offering higher energy return and a lower carbon footprint.
Trends: Rise of DTC Brands and Focus on Sustainability
The market is witnessing several significant trends, including the rise of direct-to-consumer (DTC) brands, a focus on inclusivity and diversity, the expansion of sustainable product lines, and the integration of augmented reality (AR) and virtual reality (VR) in products. Health monitoring and fitness tracking are also becoming increasingly popular, reflecting the growing consumer interest in health and wellness.
Segments:
• Product Type: Athletic Footwear, Sports Apparel, Accessories
• Distribution Channel: E-Commerce, Supermarket Or Hypermarket, Brand Outlets, Discount Stores
• End User: Children, Men, Women
Geographical Insights: Asia-Pacific Leading the Market
North America was the largest region in the sports apparel market in 2023. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period, offering significant growth opportunities due to its large population and increasing health awareness.
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Sports Apparel Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Sports Apparel Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sports apparel market size, sports apparel market drivers and trends, sports apparel market major players, competitors' revenues, market positioning, and market growth across geographies. The sports apparel market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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