Market Size of Sports Apparel Industry
| 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.
