Sports Wear Market Scope
Sport Wear market is expected to grow potentially owing to increasing adoption of fitness activities such as aerobics, gym, yoga, swimming, running and others. Emerging economies are projected to lead the Sport Wear market due to increasing health consciousness, promotional and marketing activities and rising penetration of e-commerce.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Adidas AG (Germany), Nike Inc. (Portland), Umbro (United Kingdom), Puma (Germany), Billabong International Limited (Australia), Everlast Worldwide Inc. (United States), Blacks Leisure Group Plc United Kingdom, Gap Inc. (United States), Columbia Sportswear Company (United States), Old Navy (United States), Banana republic (United States) and Jockey International (United States) |
CAGR | % |
Sports Wear market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Sports Wear market throughout the predicted period.
Adidas AG (Germany), Nike Inc. (Portland), Umbro (United Kingdom), Puma (Germany), Billabong International Limited (Australia), Everlast Worldwide Inc. (United States), Blacks Leisure Group Plc United Kingdom, Gap Inc. (United States), Columbia Sportswear Company (United States), Old Navy (United States), Banana republic (United States) and Jockey International (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Amer Sports Corporation (Finland), Lotto Sport (Italy) and Under Armour Inc. (United States).
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 Sports Wear market by Type , by Application (Professional Athletic and Amateur Sport) and Region with country level break-up.
On the basis of geography, the market of Sports Wear 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).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In April 2021, Gap Inc to launch Athleta in Canada as it eyes 2bn USD in sales. The Gap Inc. distribution center in Brampton, Ontario will handle product fulfillment for Athleta's e-commerce launch, which will free Canadian customers from paying import duties and expediting their orders.
In June 2023, Adidas launched a new sportswear label to target young consumers. this label includes a reimagined tracksuit, a shoe, a dress, a jersey, and a jacket. The brand is looking to target Gen Z consumers and is partnering with young celebrities, including actor Jenna Ortega.
Influencing Trend:
Increasing Adoption of Fitness Activities and Growing Online Sports Wear Market
Market Growth Drivers:
Increasing Health Awareness in Developing Economies, Growing Brand Positioning and Marketing Activities and Changing standard of living and Fashion Styles
Challenges:
Availability of low Quality and Forged Products
Restraints:
High Sport Wear Cost
Opportunities:
Rising Women’s Participation in Sports and Fitness and Rising Demand of Durable and Comfortable Attires
Key Target Audience
Supermarket, Brand Outlets, Discount Stores, Sport Wear Manufacturers, Sport Wear Suppliers, Sports Wear Distributers, Government Bodies, Business Research and consulting Firms and Others