Home Adidas product The global sportswear market will be worth around $365 billion by 2027

The global sportswear market will be worth around $365 billion by 2027

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Mobility prospects

According to Mobility Foresights, the global activewear market size is approximately $304 billion in 2022, growing at a CAGR of 3.7% during the forecast period 2022 to 2027.

Bangalore, Aug. 01, 2022 (GLOBE NEWSWIRE) —

Summary of the report

The global sportswear market is expected to show robust growth supported by multiple demand drivers as consumers are attracted to the variety of options now available in the market across price ranges. The increasing participation of the urban population in fitness activities after COVID will further increase the consumption of sportswear.

The volume growth of the Asian sportswear market will be driven by Vietnam, India and China.

The market is dominated by North American and European companies like Nike, which is the world leader in sportswear with 15% market share, followed by Adidas and Puma with 8% and 2% respectively. But in the future, with the rise of Asian companies like Anta, Li-Ning and Xtep in China and ASICS in Japan, the competitive landscape is very likely to change.

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Main conclusions

  • The future growth of the athletic footwear industry will be in the women’s footwear segment, owing to the increased participation of women in sports and fitness activities

  • Since the pandemic, around 50% of UK consumers have done home workouts and purchased fitness items. Sportswear and equipment companies have benefited from the trend, and workout products have seen 50% sales growth in 2021.

  • Marketing expenditure is a major part of the operating expenditure of all sportswear manufacturers and contains various forms such as advertisements, celebrity partnerships, brand ambassadors, events, etc.

  • Polyester and fabric prices were expected to rise due to a production shortage after China’s lockdown in the first quarter of 2022, however, a faster recovery by Chinese MMF manufacturers led to lower price fluctuations.

Market trends and opportunities

  • Due to COVID. the fitness industry has adopted a hybrid business model, which is basically a combination of limited on-site and online classes, which is driving additional demand creation in the sportswear market

  • Sportswear companies are now looking to use more sustainable raw materials. In 2021-22, more than 60% of all Adidas products will be made with sustainable materials like recycled polyester or sustainably grown cotton.

  • Majority of companies these days collaborate with various content creators, athletes, influencers, etc. and sponsor major sporting events like FIFA, Winter Olympics, etc. as part of their marketing campaign, as well as regular advertisements at all levels.

  • The widespread popularity of the athleisure trend has attracted high-end companies such as Dior, Louis Vuitton, Givenchy and Alexander McQueen. These high-end manufacturers have given the gym classic a more designer makeover, combining materials, patterns and textures.

  • Nike is willing to unify investments in data and analytics, demand sensing, intelligence gathering, inventory management and other areas on an end-to-end technology foundation to accelerate digital transformation

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Market segmentation

By product type

  • Shoe

  • Clothes

  • Accessories

By distribution channel

By geography

  • China

  • WE

  • Europe

  • Asia (Ex-China)

  • LINE

Related Reports

European sportswear market

UK sportswear market

Australia sportswear market

PROFILE COMPANIES

  • Nike International

  • Adidas S.A.

  • Puma SE

  • Under Armor Incorporated

  • Columbia sportswear company

  • Participations of the Anta International group

  • Li Ning Company Limited

  • V.F. Corporation

  • Lululemon Athletica

  • High Sierra

About Us
We are one of the few market research companies in the world specializing in the area(s) of mobility. Our research area includes automotive, aerospace, marine, locomotives, logistics, construction and agricultural equipment. We handle syndicated research, custom research, and consumer research for all the areas mentioned above.

We envision the future of mobility every day, following the fields of mobility is not only our job, it is our passion. We are here, just to serve you in the most ideal way and your fulfillment comes first.

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CONTACT: Company Name: Mobility Foresights Contact Person: Vishal Giri Email: [email protected] Phone: +1-315-675-4056 City: Bangalore State: Karnataka Country: INDIA