Market Trends of Sports Apparel Industry
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.
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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.
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