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The sports and fitness wear market size is estimated to grow by USD 62.3 billion at a CAGR of 4.49% between 2024 and 2028. The market is experiencing significant growth due to the increasing trend towards active lifestyles and the recognition of the numerous health benefits associated with regular physical activity. This market analysis report delves deep into the key growth factors, with a particular focus on the rising interest in fitness activities. As more individuals prioritize their health and wellbeing, the demand for high-quality, functional sports and fitness wear continues to escalate. This report provides a comprehensive evaluation of market dynamics, including market size, growth patterns, and key players, offering valuable insights for businesses looking to capitalize on this burgeoning trend.
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The market is a thriving industry that caters to individuals engaging in team sports, fitness activities, and individual sports. This market includes a wide range of products designed for an active lifestyle, such as gym apparel, casual wear, and premium sportswear. The demand for sports and fitness wear is driven by the increasing popularity of physical fitness activities among women, teenagers, young working professionals, gym goers, and urban localities. Comfort and product performance are key factors influencing the purchase decision of consumers in this market. Brands prioritize the use of breathable fabric, stretching ability, friction reduction, and water resistance to meet consumer needs. Fashion also plays a significant role in the market, with fashion designers continuously introducing new trends and styles. The Gym apparel market is a significant segment of the market, catering to the needs of corporations, public institutions, and individuals. The market for activewear brands is expected to grow significantly due to the increasing awareness of health and wellness. The market is projected to experience steady growth in the coming years, driven by the increasing number of youngsters adopting an active lifestyle. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing interest in physical fitness activities due to several health benefits is notably driving market growth. The market is experiencing significant growth due to the increasing trend towards active lifestyles and health consciousness. With the rise of running trends and various fitness activities such as weightlifting, yoga, and other forms of exercise, the demand for comfortable and functional clothing has surged. Nylon leggings, sports bras, shirts, tanks, custom apparel, T-shirts, sweatshirts, and other fitness wear are in high demand. Moreover, consumers are increasingly seeking eco-friendly and organic materials, as well as recycled fabrics, in their athletic wear.
Furthermore, the athleisure trend, popularized by fitness influencers and social media campaigns, has further fueled the market's growth. As people prioritize their health and well-being, they are turning to sports and fitness wear to help them stay active and comfortable throughout their daily routines. The growing concern over health issues like obesity, diabetes, and high cholesterol has also contributed to the market's expansion. By providing functional, stylish, and sustainable clothing options, the sports and fitness wear industry is meeting the needs of consumers and helping them lead healthier, more active lives. Thus, such factors are driving the growth of the market during the forecast period.
Technological advances in sports and fitness wear is the key trend in the market. The market is witnessing significant trends, with a focus on advanced technology and eco-friendly materials. Consumers prioritize comfort, wicking, and grip when selecting sports apparel. Manufacturers are responding to these demands by introducing innovative products such as Nylon leggings, moisture-wicking sports bras, and customizable T-shirts, tanks, and sweatshirts.
Furthermore, the athleisure trend is also driving the market, with fitness influencers promoting customizable apparel on social media. Technological advances include the use of recycled fabrics and organic materials in the production of sports and fitness wear. Weightlifting and yoga enthusiasts also benefit from the market's offerings, with a growing focus on sustainability and performance. Overall, the market is evolving to meet the diverse needs of consumers, providing high-quality, cost-effective, and innovative solutions for their fitness journeys. Thus, such trends will shape the growth of the market during the forecast period.
Volatile raw material prices is the major challenge that affects the growth of the market. The market is witnessing significant trends, with running being a popular activity driving demand for performance-enhancing apparel. Key players, such as adidas, Nike, and PUMA, are facing profit margin challenges due to the volatile prices of raw materials, particularly synthetic fibers like nylon and spandex. These materials are widely used in the production of leggings, sports bras, shirts, tanks, custom apparel, T-shirts, sweatshirts, and other fitness wear.
Furthermore, the athleisure trend, fueled by fitness influencers and social media campaigns, has led to an influx of local players, intensifying competition and price wars. To counter this, some manufacturers are turning to eco-friendly materials, such as organic cotton and recycled fabrics, to differentiate their offerings and cater to the growing consumer preference for sustainable products. Weightlifting and yoga enthusiasts also contribute to the market growth, as they seek functional and comfortable clothing for their workouts. 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.
Chem Trend LP - The company offers a mold release coating that helps to minimize mold fouling, aids rubber flow, assists in the release of the tire from the mold at the end of the cure cycle and enhances the finished tire appearance.
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 market share growth by the women segment will be significant during the forecast period. The market encompasses a wide range of apparel designed for Team Sports and Fitness Activities, catering to both Individual Sports and an Active Lifestyle. This market prioritizes Product Performance, Comfort, and Fashion, appealing to various demographics including Women, Casual Wear enthusiasts, Teenagers, and Young Working Professionals.
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The women segment showed a gradual increase in the market share of USD 146 billion in 2018. Industry frontrunners continually innovate, integrating Friction Reduction, Lightness, Stretching Ability, Water Resistance, and Temperature Regulation into their Premium Sportswear. Fashion Trends influence the market, with Fashion Designers incorporating Breathable Fabrics like Spandex and Microfiber into their designs. The Gym Apparel Market, Urban Localities, and Adventure Travel further expand the market's reach. Price Sensitivity among Consumers influences the market dynamics, with eCommerce Platforms and Brands' Websites becoming increasingly popular for purchasing Workout Cloth and Leather Goods. Corporations and Public Institutions also contribute significantly to the market growth.
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North America is estimated to contribute 39% 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 apparel designed for Team Sports and Fitness Activities, catering to both Individual Sports and an Active Lifestyle. This market prioritizes Product Performance and Comfort, focusing on Fashion trends for Gym Goers, Youngsters, and Young Working Professionals in Urban Localities. Premium Sportswear, with features like Friction Reduction, Lightness, Stretching Ability, Water Resistance, and Temperature Regulation, is increasingly popular among consumers. Fashion Designers continue to innovate, creating Breathable Fabrics from materials such as Spandex and Microfiber. eCommerce Platforms and Brands' Websites dominate sales, with Price Sensitivity influencing consumer choices. Adventure Travel and Women in Sports further expand the market, with Corporations and Public Institutions also investing in Activewear Brands. The Gym Apparel Market and Leather Goods Market also intersect, as consumers seek versatile, high-quality items for their active lifestyles.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Sports Apparel Market: Sports Apparel Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Japan, Germany, UK - Size and Forecast
Activewear Apparel Market: Activewear Apparel Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, China, Germany, Italy, Canada - Size and Forecast
Smart Wearable Fitness and Sports Devices and Services Market: Smart Wearable Fitness and Sports Devices and Services Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, Canada, China, India, Germany - Size and Forecast
The market is a thriving industry that caters to individuals engaged in Team Sports, Fitness Activities, and Individual Sports. This market is driven by the growing Active Lifestyle trend and the increasing emphasis on Physical Fitness Activities. Women are a significant consumer base for this market, with a strong demand for Casual Wear and Premium Sportswear. Comfort is a key factor in the product performance of Sports and Fitness Wear. Fashion trends play a crucial role in the market. Fashion designers are incorporating Friction Reduction, Lightness, Stretching Ability, Water Resistance, and Temperature Regulation into their designs to meet the demands of consumers.
Furthermore, industry frontrunners include Activewear Brands that cater to Gym Goers, Youngsters, Young Working Professionals, Corporations, and Public Institutions. Price sensitivity is a critical factor in the market. Consumers prefer brands that offer high-quality products at affordable prices. Adventure travel and Women in Sports are emerging segments in the market. The Gym Apparel Market is a significant contributor to the overall market, with Urban Localities and eCommerce Platforms driving sales. The Workout Cloth Market and Leather Goods Market also offer opportunities for growth in the Sports and Fitness Wear Industry. Breathable Fabric, Spandex, and Microfiber are popular materials used in Sports and Fitness Wear due to their excellent performance properties. Brands websites and eCommerce platforms are essential channels for reaching consumers and increasing sales. The market is expected to continue its growth trajectory in the coming years, driven by increasing health consciousness, fashion trends, and the growing popularity of active lifestyles.
Market Scope |
|
Report Coverage |
Details |
Page number |
183 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.49% |
Market growth 2024-2028 |
USD 62.3 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.22 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 39% |
Key countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 USA Inc., 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. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Market Segmentation by Application
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
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