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The running apparel market size is forecast to increase by USD 12.87 billion, at a CAGR of 4.5% between 2023 and 2028. The market is experiencing robust growth due to several key factors. Growing online sales of running gear are driving market expansion as consumers increasingly shop for fitness products through digital platforms. This shift is supported by an increasing awareness of health issues linked to hectic lifestyles, prompting individuals to invest in quality running apparel to support their fitness routines. Additionally, increased government initiatives promoting physical activity and healthy living further bolster demand for running apparel. These initiatives include public health campaigns and funding for community fitness programs, encouraging more people to engage in regular exercise. Together, these elements drive the market’s growth, reflecting a broader trend towards health-conscious living and convenient online shopping.
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The market is witnessing significant growth due to the increasing popularity of athletic shoes, cycling footwear, and other running gear. Western culture's emphasis on fitness and physical activity, coupled with marathon participation and the Fit India Movement, is driving demand for running apparel. The obese population and health-conscious consumers are also contributing to the market's growth. Smart wearables, such as fitness trackers and heart rate monitors, are becoming increasingly popular among consumers. The market is also being propelled by the Athleisure trend, with millennial parents leading the way. The internet and smartphone usage have made it easier for consumers to shop online for running apparel from the convenience of their homes. Online stores offer affordable rates, steep discounts, COD alternatives, and quick delivery services, making it an attractive option for consumers. Anti-sweatshop campaigns are also influencing the market, with consumers preferring ethically produced running gear. Overall, the Running Apparel Business is expected to continue its growth trajectory in the coming years.
Growing online sales of running apparel is notably driving market growth. The market has witnessed significant growth due to the increasing popularity of sports equipment and the rise of online shopping. With the widespread use of social media channels such as Instagram, Facebook, Pinterest, YouTube, and Twitter, consumers are increasingly discovering and purchasing running gear products online. Online platforms offer competitive prices, convenience, heavy discounts, cash on delivery options, and fast-delivery services, making them an attractive choice for consumers. The emergence of specialty brand stores on these online platforms further enhances the shopping experience.
Additionally, technological advancements in running apparel, such as the integration of accelerometer sensors, altitude meter, temperature measurement sensors, and angular velocity sensors, add value to online sales. The market is expected to experience substantial growth in developing regions like APAC and MEA, as the adoption of technology and online shopping continues to increase. Thus, such factors are driving the growth of the market during the forecast period.
Digital and social media marketing is the key trend in the market. The market is highly competitive, with vendors utilizing digital and social media marketing to boost product and brand visibility. Social media channels such as Instagram, Facebook, Pinterest, YouTube, and Twitter serve as effective platforms for engaging consumers and showcasing innovative running gear products. Nike, a prominent player in the market, leverages these platforms to promote its running apparel and other sports equipment. By highlighting social messages and encouraging sports participation through digital media and social media advertisements, Nike has successfully increased its brand reach and sales volume.
Further, advanced features, such as accelerometer sensors, altitude meters, temperature measurement sensors, and angular velocity sensors, are integrated into running apparel to enhance performance and appeal to consumers. Specialty brand stores and online platforms further expand the market reach, providing consumers with a wide range of running gear options. Thus, such trends will shape the growth of the market during the forecast period.
Inconsistent raw material prices is the major challenge that affects the growth of the market. The market experiences fluctuating profit margins for manufacturers due to intense competition and volatile raw material prices. With low establishment costs, an increasing number of local players have entered the market, leading to price wars among vendors. This compels global manufacturers to lower their product prices, consequently reducing their profit margins. The prices of raw materials, such as cotton and natural fabrics, are subject to foreign currency fluctuations.
Moreover, companies face a delay in passing on cost increases to consumers, further impacting their profitability. Social media channels, including Instagram, Facebook, Pinterest, YouTube, and Twitter, play a significant role in marketing running apparel. Specialty brand stores and online platforms also contribute to the market's growth. Advanced running gear products, such as those equipped with accelerometer sensors, altitude meters, temperature measurement sensors, and angular velocity sensors, are gaining popularity among consumers. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adidas AG - The company offers running apparel such as Mens running Own the Run Tee and adidas Heat.RDY running tee.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. The market encompasses a vast array of products, including athletic shoes and cycling footwear, catering to the health-conscious population's increasing demand for fitness and physical activity. Western culture's emphasis on marathon participation and the Fit India Movement have significantly influenced the market's growth. Smart wearables, such as fitness trackers and heart rate monitors, have further fueled the trend. NHS Digital and similar initiatives aim to reduce the obese population by promoting active lifestyles. The athleisure trend, popular among millennial parents and smartphone users, has led to a surge in online sales.
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The offline segment was the largest and was valued at USD 28.73 billion in 2018. E-commerce platforms offer convenience, affordable rates, steep discounts, and COD alternatives, making them a preferred choice for many. Shoe knitting technology and customization/personalization options add to the appeal. Key market players include Nike, Adidas, and Under Armour, who sell their running gear through various channels, including corporate logoed outlets, specialty stores, department stores, and hypermarkets. The offline segment dominates the market due to the convenience of trying on shoes and clothing before purchasing. Quick delivery services and internet usage further enhance the offline shopping experience.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market encompasses a wide range of products, including Athletic Shoes and Cycling Footwear, that cater to health-conscious individuals engaged in physical activities such as marathon participation. Western Culture's emphasis on fitness and the Fit India Movement have fueled the demand for running gear. Smart Wearables, like fitness trackers and heart rate monitors, have further enhanced the experience of runners. NHS Digital and other health organizations encourage obese populations to engage in regular physical activity, driving the need for affordable and convenient running shoes and clothing. The Athleisure Trend, popular among millennial parents, has led to an increase in e-commerce sales of running shoes and clothing. Shoe Knitting Technology and customization/personalization options add value to the market. Online shoppers benefit from quick delivery services, steep discounts, and COD alternatives. Internet usage and smartphone users have facilitated the growth of the Running Gear Business through online stores. Corporate logo branding on shoe uppers, lining, midsole, top-line midsole, laces, outsole, and text/visuals further expand the market.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is witnessing significant growth due to the increasing trend of Western culture, which emphasizes fitness and physical activity. Marathon participation and the Fit India Movement have further propelled this trend. Athletes and fitness enthusiasts are increasingly investing in high-quality Running Shoes, Cycling Footwear, and Smart Wearables. The obese population and health-conscious individuals are also contributing to the market's growth. The millennial parents are driving the demand for athleisure trends, which have become a staple in everyday wear. E-commerce platforms have made it convenient for online shoppers to purchase running gear at affordable rates with steep discounts and COD alternatives.
In addition, the internet and smartphone usage have played a pivotal role in the growth of the Running Apparel Business. Running shoes are the most popular item in the market, with shoe uppers, linings, midsoles, laces, outsoles, and text/visuals being the key components. Customization and personalization are the new trends in the market, with corporate logos becoming increasingly popular. Shoe knitting technology is the latest innovation in the market, offering comfort and style. The market is expected to grow further with the increasing awareness of anti-sweatshop campaigns and quick delivery services.
Market Scope |
|
Report Coverage |
Details |
Page number |
137 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 12.87 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Germany, Canada, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
361 Degrees International Ltd., Adidas AG, Amer Sports Corp., AnKT Shop, ASICS Corp., Brooks Sports Inc., Columbia Sportswear Co., Hanesbrands Inc., lululemon athletica Inc., Mizuno USA Inc., New Balance Athletics Inc., Newton Running Co. Inc., Nike Inc., PEAK, PUMA SE, Shop Li Ning, Skechers USA Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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