Sports Apparel Market Size
| Study Period | 2019-2029 |
| Market Size (2024) | USD 272.51 Billion |
| Market Size (2029) | USD 339.76 Billion |
| CAGR (2024 - 2029) | 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 estimated at USD 272.51 billion in 2024, and is expected to reach USD 339.76 billion by 2029, growing at a CAGR of 4.51% during the forecast period (2024-2029).
- Rising health and self-consciousness, a desire to live an active lifestyle, and a desire to appear fit motivate consumers to incorporate sports and fitness activities into their daily routines. 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.
- Furthermore, a long-standing fashion trend, sustainability, has entered the athleisure industry. Consumers continue to find and invest in new items made of sustainable, durable, and high-quality materials. Many firms attempt 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 uses bio-based nylon, stretch yarns, and seaweed fiber.
- The rising participation of the female population 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 of the United States, 19.1% of women participated in sports, exercise, and recreational activities every day in 2022, 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 fuel the market growth further.
Sports Apparel Market Trends
Increased Sports Participation and Popularity of Athleisure
- The rising participation in sports and recreation activities across all demographics has fueled global sports apparel sales. Sports apparel sales have witnessed significant growth and are expected to continue to grow during the forecast period. Consumers increasingly seek designer sports apparel with sports design elements aligned with the athleisure trend. This trend is further supported by celebrities advertising for global sports brands on social media.
- Furthermore, initiatives by governments of numerous countries to increase sports participation have recently driven athleisure demand. Governments increase their investments to encourage more physical activity participation, and partners 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 increased participation in sports and recreation activities across different demographics, followed by government initiatives to promote sports in their respective nations, athletic apparel sales are anticipated 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. 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.
- Furthermore, celebrity and renowned sports players' endorsements and promotions have a strong influence on the purchasing patterns of consumers. Thus, primary and emerging brands invest, collaborate with celebrities, and introduce product lines to gain market share. For instance, in March 2023, Parimatch Sports brand teamed with cricketer Dinesh Karthik to launch its new sports apparel collection in India.
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., and Lululemon Athletica. Companies are increasingly investing in research and development (R&D) activities and expanding their distribution channels to maintain a leading position in the market. They also adopt competitive strategies by developing new products to appeal to a mass audience.
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
- August 2022: Adidas revealed a fresh sportswear capsule collection showcasing a range of versatile pieces designed with minimalist aesthetics. The collection emphasizes comfort and adaptability, with several items incorporating recycled materials, aligning with the brand's commitment to sustainability. Among the highlighted pieces are a women's rib dress, a men's classic tee combined with woven pants and a coach jacket, and a women's oversized hoodie paired with a rib crop top and biker shorts, among other offerings.
- May 2022: In a move to expand its global footprint, Lululemon Athletica, a Canadian performance apparel brand, inaugurated its inaugural overseas technology center in Bengaluru, India. This marks the brand's first technology hub beyond the North American market. The establishment of this center is poised to bolster the company's capabilities and infrastructure, providing substantial support for its worldwide growth initiatives.
- May 2022: Puma forged a partnership with Sonee Sports, a sports and lifestyle marketplace based in the Maldives, to introduce the brand to the island nation. This collaboration aims to bolster Puma's offline retail presence in the Maldives while also exploring diverse distribution channels in the new market, including avenues like e-commerce, sports clubs, and other retail platforms. This strategic move reflects Puma's intent to broaden its reach and accessibility in this region.
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
4.1.1 Increased Sports Participation
4.1.2 Demand for Sustainable Fabric-based Apparel
4.2 Market Restraints
4.2.1 Availability of Fake and Counterfeit Products
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 during physical exercise for comfort or safety reasons. It generally 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.
The market sizing has been done in value terms in USD for all the abovementioned segments.
| Sport | |
| Soccer | |
| Basketball | |
| Baseball | |
| Other Sports |
| End -User | |
| Men | |
| Women | |
| Children |
| Distribution Channel | |
| Specialty Stores | |
| Supermarket/Hypermarket | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |||||||||
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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 272.51 billion in 2024 and grow at a CAGR of 4.51% to reach USD 339.76 billion by 2029.
What is the current Sports Apparel Market size?
In 2024, the Sports Apparel Market size is expected to reach USD 272.51 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 (2024-2029).
Which region has the biggest share in Sports Apparel Market?
In 2024, the North America accounts for the largest market share in Sports Apparel Market.
What years does this Sports Apparel Market cover, and what was the market size in 2023?
In 2023, the Sports Apparel Market size was estimated at USD 260.22 billion. The report covers the Sports Apparel Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sports Apparel Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the top growth opportunities for new entrants?
Focus on sustainability, emerging markets, niche sports, & personalized apparel are the top growth opportunities for new entrants.
Sports Apparel Industry Report
The global sports apparel market is projected to experience significant growth in the coming years, driven by factors such as rising health consciousness, increasing participation in sports activities, and a growing preference for outdoor recreational activities. The market is also influenced by a shift in consumer preference for recreational activities and the rising adoption of sports apparel due to its comfort and breathability. However, fluctuating raw material prices could potentially restrain market development. The market is segmented by product, demography, and distribution channel, with men's sports apparel and offline distribution channels currently dominating the market. The trend of athleisure wear and technological advancements in sports apparel are also significant factors driving market growth. Despite challenges, there are numerous growth opportunities in the sports apparel market, such as e-commerce and the rising demand for eco-friendly and ethically produced sports apparel. According to Mordor Intelligenceā¢ Industry Reports, the sports apparel market share, size, and revenue growth rate statistics provide a market forecast outlook and a historical overview. A sample of this industry analysis is available as a free report PDF download.
