Sportswear also called active wear includes clothing and gear worn during playing any sports and doing exercises, where it may include specific types of apparel and shoes to suit the sports activity. The sportswear market outlook is driven by rapid innovation and increasing health awareness among people around the world.
The growing number of participants in various outdoor sporting events, such as soccer, cricket, and tennis, is driving the Sports Wear Market demand across the globe. This is favored by increasing disposable income and so the higher consumer spending power, which has led the consumers to purchase these specialty products allowing them to enjoy comfort while being outdoors.
ongoing advancements in product manufacturing technologies to develop enhanced sportswear that provides a high level of comfort to consumers is anticipated to stimulate the sportswear market trends in the upcoming years. Consumers are becoming increasingly health and fitness conscious due to lifestyle impairments and high stress usually faced at workplaces. This group of consumers is likely to adopt a variety of fitness activities, such as swimming, gyms and running, to stay active and healthy, thereby fueling the product demand in the years to come.
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Moreover, the growing demand for fashion-friendly sports apparel has led key players to introduce innovative products that meet the needs of consumers. This has further increased the demand for sports apparel and footwear among all end-user groups and expanded the sportswear market. The sportswear industry makes use of various technologies to enhance product aspects. for instance, the products developed using nanotechnology, microfibers, and insulators, are seen gaining popularity in the sportswear market.
As more and more people are adopting an active lifestyle owing to health awareness, it has directly increased the demand for sportswear around the world. Besides, some of the local governments in both developed and developing nations have been promoting sports programs to schools and academic institutions, which should also boost product consumption in the global market.
However, the presence of fake products or well known as the 'first copy products' which well imitate the products developed by larger brands, and generally prices much lower than the original is likely to hinder the major players dominating the sportswear market. Low-income groups are often seen opting for such counterfeit products because of their significantly lower prices, thereby curbing the sportswear market growth.
The global sportswear market report from Report Hive Research is segmented into product type, end-user, distribution channel, and geography. From a product perspective, the market has been divided into top-wear, bottom-wear, hats, sports shoes, and accessories, etc. Based on end-users, markets can be categorized into men, women, and children. The male segment accounts for a major share of the global sportswear market, owing to elevated levels of fitness consciousness observed in men as compared to women. However, the female segment is also projected to expand significantly due to fashion sense added to the products.
Based on distribution channels, the global
sportswear market is indeed segmented into online channels and offline
channels, where is Offline channel is further divided into hypermarkets and
supermarkets, specialty stores, and department stores. Geographically, the
North America sportswear market share is presumed to grow at a significant CAGR
during the forecast period owing to an upsurge in the adoption of new
technologies to manufacture sports apparels and gears.