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The running apparel market share is expected to rise to USD 18.06 billion by 2026, at an accelerating CAGR of 6.08%. This report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
This running apparel market research report extensively covers market segmentation by distribution channel (offline and online) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The running apparel market report also offers information on several market vendors, including 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 Corp., 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. among others.
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The growing online sales of running apparel is notably driving the running apparel market growth, although factors such as inconsistent raw material prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the running apparel industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Running Apparel Market Driver
One of the key factors driving the global running apparel market growth is the growing online sales of running apparel. Consumers are adopting online shopping in developed countries of areas such as North America and Europe. The emerging countries of APAC and the MEA are also expected to make significant contributions to the global market revenue. Competitive prices, convenience, heavy discounts, cash on delivery(COD) options, and fast-delivery services are factors attracting consumers to shop online. Nike Inc., Adidas AG, Under Armour Inc., and ASICS Corp. have their own web portals, which boosts the online sales of vendors. In addition, vendors such as Nike plan to concentrate specifically on their online businesses considering the changing consumer buying patterns. Moreover, in 2021, e-commerce became the primary distribution channel for Adidas AG. Furthermore, in July 2021, Puma SE announced the opening of a new digital-enabled store in Bengaluru, India. Such factors will drive the growth of the concerned market during the forecast period.
Key Running Apparel Market Trend
Digital and social media marketing is one of the key running apparel market trends that is expected to impact the industry positively in the forecast period. To compete in this intensely competitive market, manufacturers must develop, market, and promote their sports apparel through interactions with consumers on social media platforms. Consumers are engaged by market players using their innovative marketing campaigns on social media and digital platforms such as Instagram, Facebook, Pinterest, YouTube, and Twitter. Nike frequently uses such platforms to highlight social messages such as women's empowerment and tries to promote sports participation through advertisements aired on digital media and other social media platforms. For instance;
Key Running Apparel Market Challenge
One of the key challenges to the global running apparel market growth is the inconsistent raw material prices. As the establishment costs are low, an influx of local players has been observed in recent times. The price wars among competitors propel the global vendors to reduce their products' prices, thereby minimizing their profit margins. The prices of raw materials like cotton and natural fabrics are directly affected by foreign currency changes. Manufacturers find it difficult to anticipate spending or control costs due to price fluctuations. In addition, cost-driven end-users prefer low-cost running apparel rather than investing heavily in global brands. Such factors may limit the market growth during the forecast period.
This running apparel market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global running apparel market as a part of the global apparel, accessories, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the running apparel market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the running apparel market encompasses successful business strategies deployed by the key vendors. The running apparel market is fragmented and the vendors are deploying growth strategies such as marketing and new product launches to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The running apparel market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the running apparel market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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37% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for running apparel in North America. However, market growth in this region will be slower than the growth of the market in other regions.
The rising participation of the population in fitness activities like running in countries such as the US will facilitate the running apparel market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The regional running apparel market in the region faced certain challenges due to the COVID-19 pandemic in 2020. The US has been the worst-affected country by the pandemic in the region. The outbreak had led the governments of several countries across the region to impose a total lockdown. However, in 2021, retail outlets and fitness centers have reopened with restrictions lifted due to vaccination drives across the region. People have also started with their outdoor activities. Sporting events were held in 2021, which were postponed from 2020 due to COVID-19. US Open, Miami Open, and the National Basketball Association (NBA) Finals were held across the region in 2021. Thus, the regional running apparel market gained stability and is expected to grow during the forecast period.
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The running apparel market share growth by the offline segment will be significant during the forecast period. Offline stores provide a pleasant shopping experience as well as a diverse selection of products at reasonable rates. As a result, these stores assist vendors in growing their customer base, which will drive the market growth through this segment in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the running apparel market size and actionable market insights on post COVID-19 impact on each segment.
Running Apparel Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.08% |
Market growth 2022-2026 |
$ 18.06 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.1 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key consumer countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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 Corp., 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 forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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