Sports Apparel Market Size
| Study Period | 2018 - 2028 |
| Market Size (2023) | USD 260.75 Billion |
| Market Size (2028) | USD 325.10 Billion |
| CAGR (2023 - 2028) | 4.51 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sports Apparel Market Analysis
The Sports Apparel Market size is expected to grow from USD 260.75 billion in 2023 to USD 325.10 billion by 2028, at a CAGR of 4.51% during the forecast period (2023-2028).
Rising health and self-consciousness, a desire to live an active lifestyle, and a desire to appear fit are all motivating consumers to incorporate sports and fitness activities into their daily routines. The rising participation of women in professional and domestic sports and fitness activities is expected to drive the market over the forecast period. For instance, according to the Bureau of Labor Statistics, 19.6% of women participated in sports, exercise, and recreational activities every day in 2021, an increase from 17.2% in 2018. The growing crossover between sports and fashion, which has resulted in an increased presence of fashionable sports apparel, is expected to further fuel women's interest.
The availability of sports apparel with enhanced properties, such as moisture management, temperature control, and other performance-boosting characteristics that prevent discomfort and potential injury, has captured the interest of consumers, who have been observed to be willing to pay more for such additional benefits. Increasing affluence in emerging markets has led to an increase in the demand for sports apparel, owing to the rise of the affluent market.
Furthermore, sustainability, a long-standing fashion trend, has found its way into the athleisure industry. Consumers continue to find and invest in new items made of sustainable, durable, and high-quality materials. Many firms are attempting to bridge the gap between fashion and innovative functional designs. For instance, in June 2021, Pangaia launched its first collection of sustainable activewear. The nine-piece Pangaia Gym Collection includes sports bras, bike shorts, leggings, jumpsuits, sweatshirts, and tees in both men's and women's styles. Sustainable sports apparel is made using bio-based nylon, stretch yarns, and seaweed fiber.
Sports Apparel Market Trends
This section covers the major market trends shaping the Sports Apparel Market according to our research experts:
Growing Sports Participation and Influence on Athleisure
The rising popularity of sports players on social media and rising participation in sports and recreation activities across all demographics have fueled global sales of sports apparel. Sales of sports apparel have witnessed significant growth and are expected to continue to grow during the forecast period. Additionally, in line with the athleisure trend, consumers are increasingly seeking designer sports apparel that includes elements of sports design. Additionally, the continued shift toward more active lifestyles drives the demand for sports apparel worldwide.
Furthermore, the rise in government initiatives in many countries to increase sports participation has significantly driven athleisure demand in recent years. Moreover, governments may increase their investments to encourage more participation in physical activities and to strengthen relationships between the community and sports organizations. For instance, in 2021, the Government of England recommended launching a "Work Out to Help Out" campaign to incentivize people to get involved in organized sports. With the increasing participation in sports and recreation activities across different demographics, followed by government initiatives to promote sports in their respective nations, sales of athletic apparel have experienced significant growth during the study period and are expected to continue to grow during the forecast period.
Asia-Pacific is the Fastest Growing Market
Asia-Pacific is the fastest-growing region in the sports apparel market, with countries like China and India having a higher percentage of their young population participating in sporting and other recreational activities. The increasing appetite for foreign brands, rising disposable income, and desire to lead improved lifestyles are expected to propel the demand for sports apparel in the region. China, backed by government initiatives to encourage active participation in sports, is leading the market in the region and has the potential to surpass the United States as the leading market worldwide in the future.
Additionally, the rising participation of women in domestic sports and fitness activities is expected to drive the market in the region over the forecast period. Furthermore, celebrity and renowned sports players' endorsements and promotions have a strong influence on the purchasing patterns of Indian consumers. Thus, major brands are investing, collaborating with celebrities, and introducing product lines to gain market share. For instance, in September 2021, Puma launched 1DER by PUMA, an affordable range of athleisure clothing designed in collaboration with cricketer KL Rahul. It was launched on Flipkart, Puma stores, and its website.
Sports Apparel Industry Overview
The sports apparel market is fragmented and comprises several prominent international and regional players. Some of the major players in the market are Adidas AG, Nike Inc., Puma SE, Under Armour Inc., Lululemon Athletica, Columbia Sportswear Company, Anta International Group Holdings Ltd, Li Ning Company Limited, VF Corporation, and Amer Sports Corporation, among others. Companies are increasing their investments in research and development (R&D) and marketing and are expanding their distribution channels to maintain their position in the market. Furthermore, they are adopting competitive strategies by investing more in developing new products and technologies to produce athletic apparel.
Sports Apparel Market Leaders
Adidas AG
Nike, Inc.
Puma SE
Under Armour, Inc.
Lululemon Athletica Inc.
*Disclaimer: Major Players sorted in no particular order
Sports Apparel Market News
- In August 2022: Adidas unveiled a new sportswear capsule collection. The new capsule collection features versatile pieces with minimalist aesthetics that are comfortable and can be worn throughout the day, and several are crafted partially from recycled materials. Some of the pieces include a women's rib dress, a men's classic tee paired with woven pants and a coach jacket, and a women's oversized hoodie with a rib crop top and biker shorts, among others.
- In May 2022: Lululemon Athletica, a performance apparel brand based in Canada, launched its first overseas technology center in Bengaluru, India—its first such center outside the North American market. As a result, the company will be able to enhance its capabilities and infrastructure to support the growth of the company around the world.
- In May 2022: Puma partnered with Sonee Sports, a Maldives-based sports and lifestyle marketplace, to launch the brand in the island nation. Through this partnership, the brand can expand its offline retail presence and explore other avenues for distribution in the new market, including e-commerce, sports clubs, and other distribution channels.
Sports Apparel Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Sport
5.1.1 Soccer
5.1.2 Basketball
5.1.3 Baseball
5.1.4 Other Sports
5.2 End User
5.2.1 Men
5.2.2 Women
5.2.3 Children
5.3 Distribution Channel
5.3.1 Specialty Stores
5.3.2 Supermarket/Hypermarket
5.3.3 Online Retail Stores
5.3.4 Other Distribution Channels
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 United Kingdom
5.4.2.2 Germany
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Russia
5.4.2.6 Spain
5.4.2.7 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 South Africa
5.4.5.2 Saudi Arabia
5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Adidas AG
6.3.2 Nike, Inc.
6.3.3 Puma SE
6.3.4 Under Armour Inc.
6.3.5 Lululemon Athletica Inc.
6.3.6 Columbia Sportswear Company
6.3.7 New Balance Athletics Inc.
6.3.8 Li Ning Company Limited
6.3.9 VF Corporation
6.3.10 Fila Holdings Corp.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Sports Apparel Industry Segmentation
Sports apparel is the clothing worn for sports or physical exercise. It is mostly worn for sports and physical exercise, for practical, comfort, or safety reasons. It includes tracksuits, shorts, T-shirts, and polo shirts. The sports apparel market is segmented by sport, end-user, distribution channel, and geography. By sports, the market is segmented into soccer, basketball, baseball, and other sports. By end-user, the market is segmented into men, women, and children. By distribution channel, the market is segmented into specialty stores, supermarkets/hypermarkets, online retail stores, and other distribution channels. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Sport | |
| Soccer | |
| Basketball | |
| Baseball | |
| Other Sports |
| End User | |
| Men | |
| Women | |
| Children |
| Distribution Channel | |
| Specialty Stores | |
| Supermarket/Hypermarket | |
| Online Retail Stores | |
| Other Distribution Channels |
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Sports Apparel Market Research FAQs
How big is the Sports Apparel Market?
The Sports Apparel Market size is expected to reach USD 260.75 billion in 2023 and grow at a CAGR of 4.51% to reach USD 325.10 billion by 2028.
What is the current Sports Apparel Market size?
In 2023, the Sports Apparel Market size is expected to reach USD 260.75 billion.
Who are the key players in Sports Apparel Market?
Adidas AG, Nike, Inc., Puma SE, Under Armour, Inc. and Lululemon Athletica Inc. are the major companies operating in the Sports Apparel Market.
Which is the fastest growing region in Sports Apparel Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Sports Apparel Market?
In 2023, the North America accounts for the largest market share in the Sports Apparel Market.
Sports Apparel Industry Report
The Athletic Wear Market is projected to expand due to heightened health awareness and a preference for an active lifestyle. The increasing involvement of women in sports and fitness activities, as well as the intersection of sportswear and fashion, are also boosting the market's growth. The availability of activewear with advanced features such as moisture management and temperature control is appealing to consumers. The market is also witnessing a trend towards sustainability, with numerous companies manufacturing fitness clothing from eco-friendly materials. The market is divided by sport, end-user, distribution channel, and geography. The growing popularity of sports players on social media and increased participation in sports and recreational activities are driving global sales of workout clothes. The demand for designer gym wear that incorporates elements of sports design is also on the rise. The report is available for free PDF download.
