Enjoy complimentary customisation on priority with our Enterprise License!
The sports and fitness wear market share is expected to increase by USD 66.06 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.75%.
This sports and fitness wear market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers sports and fitness wear market segmentation by end-user (women and men), product (top wear, bottom wear, and support items), application (outdoor, sports-inspired, and performance), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The sports and fitness wear market report also offer information on several market vendors, including adidas AG, ASICS Corp., Brooks Sports Inc., Columbia Sportswear Co., Deckers Outdoor Corp., Kappa, Karhu Holding BV, Li Ning Co. Ltd., lululemon athletica Inc., Mizuno Corp., New Balance Athletics Inc., Nike Inc., Patagonia Inc., PUMA SE, Ralph Lauren Corp., Skechers USA Inc., The Gap Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc. among others.
Download the Free Report Sample to Unlock the Sports and Fitness Wear Market Size for the Forecast Period and Other Important Statistics
The rising number of sports tournaments is notably driving the sports and fitness wear market growth, although factors such as the volatile raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the sports and fitness wear industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Sports and Fitness Wear Market Driver
The rising number of sports tournaments is one of the key drivers supporting the sports and fitness wear market growth. The sports industry has experienced an upsurge in the number of tournaments. The growing interest of the population worldwide in sports activities can increase the sales of sports and fitness wear. For instance, the rise in the number of registered baseball players has led to an increasing number of baseball and softball tournaments and matches. For example, American Athletic Conference Baseball Tournament, which was first organized in 2014, is a college-level baseball conference championship tournament. Such tournaments will popularize baseball globally and benefit the global baseball equipment market. This, in turn, will drive the global sports and fitness wear market during the forecast period.
Key Sports and Fitness Wear Market Trend
Technological advances in sports and fitness wear is one of the key sports and fitness wear market trends that is contributing to the market growth. For instance, Nike features Advanced Innovation Kitchen technology in its tights. A thin polymer film on the tights helps in blocking UV light and infrared heat across the athletes' knees and shins, which are more affected by the sun. It features a compression system in its sports and fitness wear, which not only improves circulation but also prevents numbness and tingling in the legs after prolonged physical activities. Under Armour features CoolSwitch technology that is directly applied to its sports and fitness wear. It results in moisture absorption, which helps athletes to cool their bodies and fight the heat. Such technological advances will change customers' preferences towards buying these sports and fitness wear. This, in turn, will boost the market growth during the forecast period.
Key Sports and Fitness Wear Market Challenge
Volatile raw material prices is one of the factors hindering the sports and fitness wear market growth. The key market manufacturers, including Adidas, Nike, and PUMA, are experiencing fluctuations in their profit margins. This is due to the fluctuating prices of raw materials and the increasing competition among the vendors in the market. As the establishment costs are low, there is an increase in the influx of local players. The emergence of local players leads to price wars among the market competitors. This compels the vendors to reduce the prices of their products, which, in turn, will affect their profit margins. Therefore, the increasing price of raw materials negatively affects the profit margins of the vendors and thereby limiting the market growth.
This sports and fitness wear 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 sports and fitness wear 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 sports and fitness wear 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 sports and fitness wear market encompasses successful business strategies deployed by the key vendors. The sports and fitness wear market is fragmented and the vendors are deploying growth strategies such as price, quality, brand, and variety 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 sports and fitness wear market forecast report offer 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 sports and fitness wear 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.
For more insights on the market share of various regions Request for a FREE sample now!
36% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the sports and fitness wear market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rise in participation of people in regular fitness and sports activities will facilitate the sports and fitness wear market growth in APAC 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 outbreak of COVID-19 had a positive impact on the regional market. Moreover, consumers have started spending more on sports and fitness products, as the current situation has created more awareness about health. This will, in turn, drive the growth of the regional sports and fitness wear market during the forecast period.
To gain further insights on the market contribution of various segments Request for a FREE sample
The sports and fitness wear market share growth by the women segment will be significant during the forecast period. The increase in the population of working women, rise in demand from developing countries, and recovery from the recession are some of the factors driving this segment. Participation of women in sports and fitness activities has also increased considerably. Moreover, women are more fashion-conscious than men, which compels key competitors to upgrade their product line with new designs and styles to attract more women consumers. Due to all these factors, the segment is expected to grow at a high rate during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the sports and fitness wear market size and actionable market insights on post COVID-19 impact on each segment.
|
Sports and Fitness Wear Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2021 |
|
Forecast period |
2022-2026 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 4.75% |
|
Market growth 2022-2026 |
$ 66.06 billion |
|
Market structure |
Fragmented |
|
YoY growth (%) |
3.67 |
|
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 36% |
|
Key consumer countries |
US, China, Japan, Germany, and UK |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
adidas AG, ASICS Corp., Brooks Sports Inc., Columbia Sportswear Co., Deckers Outdoor Corp., Kappa, Karhu Holding BV, Li Ning Co. Ltd., lululemon athletica Inc., Mizuno Corp., New Balance Athletics Inc., Nike Inc., Patagonia Inc., PUMA SE, Ralph Lauren Corp., Skechers USA Inc., The Gap 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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 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
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
