Casual Sportswear Market Scope
Nowadays, the boundaries between activewear and fashion sportswear had become increasingly unclear, with many people selecting to wear hoodies, yoga pants, tracksuits, as well as other garments openly associated with athletic wear as everyday dress. Casual sportswear includes hats, upper garment, under clothing, and skirts. The increasing demand for the casual sportswear is due to increasing importance of healthy living among people around the globe. These casual sportswear are widely used in professional athletics as well as in amateur sport. The increasing disposable income coupled with the Athleisure trend among people is expected to boost the growth of global casual sportswear market over the coming years. Moreover, team & individual fitness and sports activities are growing significantly across the globe. With a noteworthy rise in celebrity endorsements for fitness and casual sportswear, the global market is likely to rise at a substantial momentum.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia-Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Nike, Inc.(United States), Adidas AG (Germany), PUMA SE (Germany), V.F.Corporation (United States), Columbia Sportswear Company (United States), Amer Sports Oyj (Finland), Under Armour, Inc. (United States), lululemon athletica Inc. (Canada), Levi Strauss & Co.(United States) and Mizuno Corporation (Japan) |
CAGR | % |
One of the key player in the market, Nike, Inc. has opened a new store in New York City, United States in November 2018. Nike NYC is a flagship store. The building covers the six stories (including a below-street-level floor), cover more than 68,000 square feet area. This expansion will likely to increase the consumer base as well as revenue for the company over the coming years. Research Analyst at AMA estimates that German and United States Vendors will contribute to the maximum growth of Global Casual Sportswear market throughout the predicted period.
Nike, Inc.(United States), Adidas AG (Germany), PUMA SE (Germany), V.F.Corporation (United States), Columbia Sportswear Company (United States), Amer Sports Oyj (Finland), Under Armour, Inc. (United States), lululemon athletica Inc. (Canada), Levi Strauss & Co.(United States) and Mizuno Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are The Moret Group, Inc. (United States), 4u Sports (India) and Tommy Hilfiger Licensing, LLC (Netherlands).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Casual Sportswear market by Type , by Application (Professional Athletic and Amateur Sport) and Region with country level break-up. On the basis of Type, Upper Garment are dominating the market in the year 2022
On the basis of geography, the market of Casual Sportswear has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
Nike acquired RTFKT, a well-known company that uses cutting-edge technology to produce the next generation of collectibles that combine gaming and culture
Puma Presents Christian Pulisic's Second Signature Collection
Influencing Trend:
The "athleisure" trend
Market Growth Drivers:
Increasing Disposable income globally, Rising demand around the world and An Increased Importance of Healthy Living
Challenges:
The rising cost of raw materials
Restraints:
Availability of Counterfeit products
Opportunities:
Growing Opportunities from Emerging Markets and Innovative fabric technologies in sportswear
Key Target Audience
Products Manufacturers, Raw Material Suppliers, Technology, Equipment, and Solution Providers, Private Utility Players, Government and Research Organizations, Distribution Consultancies and End Users