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Global Sports Apparel Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Sport (Basketball, Soccer, Baseball and Others), End User (Women, Men and Children), Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Online Stores and Others) and Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) – Industry Analysis (2024 to 2029)

Published: March, 2023
ID: 12121
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Sports Apparel Market Size (2024 to 2029)

The global sports apparel market is expected to showcase a CAGR of 7.2% from 2024 to 2029 and the global market size is anticipated to be worth USD 710.7 billion by 2029 from USD 503.89 billion in 2024.

Sports apparel is the clothing worn while participating in sports and physical activities such as yoga, workouts in the gym, and others. Sports apparels are made up of specific fabric and specially designed for sports and physical activities. Sports apparel varies with different sports and is made from different materials as per the sport's requirement. Sports giants are extensively investing in the innovation and development of sports apparel to improve product quality. By using a variety of materials, companies are focusing on developing higher-quality fabrics with improved functionality. Various brands have recently launched athleisure sports apparel, which is becoming a market trend, and developments are going on with athleisure wear as consumers are more like such products. 

Global Sports Apparel Market Drivers:

The sports apparel market is one of the world's most globally linked industries, yet its volatile nature makes it difficult for brand owners to prosper in the face of severe industry competition. Due to the growing significance of enhancing athletes' overall performance levels, participants in the sports apparel market have begun to pay greater attention to innovation and development in the design of apparel. As a result of these factors, the sports apparel market is expected to rise.

Increasing awareness in people about personal health and fitness increases consumers' demand for sports apparel. Over the forecast period, the market is expected to be driven by increased women's engagement in various sports and fitness activities. Increased fashion in sports apparel will lead to market growth, especially among women. Consumers have shown a willingness to spend more on sports apparel with better features such as moisture control, temperature control, and other performance-enhancing characteristics that reduce pain and potential injury. Fashionable sports apparel is in high demand as it is multipurpose, convenient, fashionable, and can be worn for a variety of circumstances.

The interest of people to participate in various physical activities such as swimming, aerobics, yoga, and running has increased significantly in the last decade. Sales of sports apparel are predicted to skyrocket in the coming years and the desire to keep a sporty appearance and keep up with the newest fashion trends are contributing to the growth of the sports apparel market. The sports media sector spends a lot of money on advertising, celebrity brand ambassadors, and social media influencers, which has a big impact on getting people to exercise.

Global Sports Apparel Market Restraints:

Increasing fake products with well-known brand names are becoming restraints for market growth. Sports gear with large initial investments and costs can stifle worldwide growth. The high cost of sports apparel, growing grey market products, stringent government regulations to textile industries, increasing sustainable alternatives to traditional textile manufacturing, owing to their growing environmental consciousness and the negative consequences the fashion sector has on the environment are acting as major challenges for the market growth.

Impact of COVID-19 on the global sports apparel market:

In 2020, the worldwide sports apparel market was severely impacted by the COVID-19 epidemic, with most businesses reporting lower sales. Outdoor activities and home workouts both showed a surge in popularity. The COVID-19 pandemic affected the sports apparel market by various means it directly affected production due to a lack of labor force, and demand is also decreased due to economic disturbance of consumers. Supply chain management is also disrupted. The financial impact is also seen in businesses.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

7.2%

Segments Covered

Based on Sport, End-User, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Market Leaders Profiled

Adidas, Nike, Puma, Columbia Sportswear, Anta International Group Holdings Ltd., Under Armour, Lululemon Athletica, Li Ning Company Limited, VF Corporation, Amer Sports Corporation.

 

This research report on the global sports apparel market has been segmented and sub-segmented based on sport, end-user, distribution channel and region.

Global Sports Apparel Market - By Sport:

  • Basketball
  • Soccer
  • Baseball
  • Others

Based on sport, the soccer segment had the major share of the global market in 2023 and the domination of the soccer segment is likely to be seen throughout the forecast period. Factors such as the growing fanbase of football players and increased sales of soccer t-shirts are propelling the growth of the soccer segment in the global market. The widespread popularity of soccer, global soccer events such as the FIFA World Cup and the integration of soccer culture into fashion are boosting the growth rate of the soccer segment in the global market.

The basketball and baseball segments have accounted for a considerable share of the global market in 2023 and are predicted to grow prominently during the forecast period.

Global Sports Apparel Market - By End-User:

  • Women
  • Men
  • Children

Based on end-users, the men's segment led the market and captured a 58.4% share of the sports apparel market in 2023 and the lead of the male segment is expected to follow in the global market during the forecast period. Owing to the high level of engagement of males in sports activities, the men segment is expected to dominate the market.

On the other hand, the women segment is expected to grow at a CAGR of 5.6% during the forecast period.

Global Sports Apparel Market - By Distribution Channel:

  • Hypermarkets/Supermarkets
  • Specialty Stores
  • Online Stores
  • Others

Based on the distribution channel, the online segment led the market, accounting for 38.7% of the global market share in 2023 and the domination of the online segment is predicted to continue throughout the forecast period. Factors such as the rise of e-commerce, convenience, the ability to reach a global consumer base, digital marketing strategies, the shift towards online shopping and the growing focus of leading sportswear brands on direct-to-consumer online sales with exclusive releases are driving the growth of online segment in the global market.

The hypermarkets/supermarkets segment accounted for a substantial share of the worldwide market in 2023 and is estimated to grow considerably during the forecast period. The growth of the hypermarkets/supermarkets segment is majorly driven by the convenience of one-stop shopping and the availability of a wide range of sports apparel.

Global Sports Apparel Market - By Region:

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

Geographically, the North American regional market was the biggest regional segment in the global market in 2023 and held 39.7% of the worldwide market share. The domination of the North American region in the global market is expected to continue throughout the forecast period owing to the rising popularity of major sports leagues, increasing emphasis on fitness and wellness and growing number of collaborations between sportswear brands and athletes. The U.S. closely held 70% of the North American market share in 2023 and is expected to be the major market in the North American region during the forecast period.

Europe is another major regional segment in the global market and is anticipated to grow at a healthy CAGR during the forecast period. In the European population, football fans are rising at a very high rate due to the presence of the football league, so T-shirts sale is expected to rise in Europe in the forecast period. Because of the high demand for sports apparel in Europe, Germany dominates the industry. In addition, most of the modern technology-based sports apparel is released in the region.

The Asia Pacific region is expected to be the fastest-growing regional segment in the worldwide market during the forecast period. Because of nations like China and India, which have a higher number of young people, Asia-Pacific is the fastest-growing region in the global sports apparel market. China is dominating the Asia Pacific market due to the gaining popularity of e-commerce in the region and China’s increasing population.

Latin America, the Middle East, and Africa's sports apparel market is growing at a significant rate due to increasing awareness of individual health and being physically active. People have been forced to adopt a variety of activities as a form of exercise due to frantic working hours and rising health concerns.

KEY MARKET PLAYERS:

Companies playing a leading role in the global sports apparel market include Adidas, Nike, Puma, Columbia Sports-wear, Anta International Group Holdings Ltd., Under Armour, Lululemon Athletica, Li Ning Company Limited, VF Corporation and Amer Sports Corporation. The global Sports Apparel market is fragmented, with only a few significant worldwide and regional companies. The development of end-user-specific gear is a priority for global key players in the sports apparel market. At the same time, new entrants are taking this challenge and focusing on better quality products with lower prices.

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