Enjoy complimentary customisation on priority with our Enterprise License!
The tennis apparel, footwear, and accessories market in US is estimated to grow at a CAGR of 6.51% between 2022 and 2027. The size of the market is forecast to increase by USD 208.5 million. The growth of the market depends on serval factors, including the increasing penetration of the Internet and smartphones, the rising number of product endorsements by celebrities, and the increasing awareness about the health benefits of sports.
This report extensively covers market segmentation by distribution channel (offline and online), end-user (men, women, and children), and product (apparel, footwear, and accessories). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
Technavio categorizes the tennis apparel, footwear, and accessories market in the US as a part of the global apparel, accessories, and luxury goods market, within the textiles, apparel, and luxury goods market. The parent market, the global apparel, accessories, and luxury goods market, covers products and companies engaged in the manufacturing/marketing of apparel, accessories, and luxury goods. The market also includes companies offering apparel, accessories, and luxury goods rental services. The market excludes manufacturers of shoes. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increasing penetration of the Internet and smartphones are notably driving the market growth, although factors such as the high competition from alternative sports may impede the market growth. Our researchers analyzed the data with 2022 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.
Key Tennis Apparel, Footwear, And Accessories Market Driver in US
The increasing penetration of the Internet and smartphones are key factors driving the growth of the tennis apparel, footwear, and accessories market in US. The increasing demand for e-commerce and m-commerce as online retail sales channels in the US is one of the significant factors that are expected to strengthen the growth of the online market of tennis apparel, footwear, and accessories market in the US during the forecast period. Tennis apparel, footwear, and accessories are widely sold through online retail channels, primarily due to vendors' focus on the reduction of fixed capital costs on maintaining physical retail stores, which will drive the growth of the tennis apparel, footwear, and accessories market in the US during the forecast period.
Moreover, in the US, the number of online transactions and the average amount of money spent online per transaction are on the rise. Factors such as the availability of a wide range of products, convenience, security measures offered by e-retailers for online payments, free delivery, improved online customer service, and customer-friendly and easy-to-navigate shopping websites are expected to increase the number of online shoppers. This, in turn, is expected to drive the growth of the online tennis apparel, footwear, and accessories market in the US during the forecast period.
Significant Tennis Apparel, Footwear, And Accessories Market Trend in US
The growing adoption of tennis programs in academic institutes is the primary trend in the tennis apparel, footwear, and accessories market growth in US. Academic institutes across the US are increasing their focus on arranging programs and courses for tennis training alongside regular course studies. The country has various tennis coaching academies that provide training to students. For instance, EVERT TENNIS ACADEMY, a tennis training center for collegiate and professional tennis players, offers long-term and short-term training programs for students. The training center provides on-court training, which is balanced with off-court mental and physical conditioning. The company primarily offers three different programs for tennis coaching, namely afternoon academy, developmental program, and academy programs.
Furthermore, the USTA, along with the Society of Health and Physical Educators (SHAPE America), provides comprehensive lesson plans for K-12 students by helping teachers teach tennis in physical education classes. The USTA also offers school team tennis to help teenagers improve their skills. The rise in the number of tennis coaching academies is expected to encourage students to join courses related to tennis. This, in turn, is expected to drive the demand for tennis apparel, footwear, and accessories and, in turn, fuel the growth of the market in the US during the forecast period.
Major Tennis Apparel, Footwear, And Accessories Market Challenge in US
The threats associated with counterfeit tennis apparel and footwear are a major challenge to the growth of the tennis apparel, footwear, and accessories market in US. The rise in the availability of counterfeit tennis footwear and apparel is a major threat to the tennis apparel, footwear, and accessories market in the US, as it negatively impacts the sales revenue of genuine manufacturing vendors of tennis products. The presence of counterfeit tennis products, including footwear and apparel, leads to an uneven competitive scenario in terms of market share erosion and price standardization. Vendors offering counterfeit tennis products sell them at very low prices compared with branded products, which increases the uptake of counterfeit tennis apparel and footwear.
Moreover, the duplication of branded tennis apparel and footwear makes it difficult for customers to distinguish between original and counterfeit products. In addition, counterfeit tennis apparel and footwear do not meet manufacturing standards in terms of quality, fabric, and technology, which decreases customers' trust. Due to these factors, international brands of prominent vendors face difficulties in optimizing their presence in developing markets. Therefore, the increasing availability of counterfeit tennis products, including tennis apparel and footwear, is expected to hamper the growth of the tennis apparel, footwear, and accessories market in the US during the forecast period.
Key Tennis Apparel, Footwear, And Accessories Market in US Customer Landscape
The 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 growth strategies.
Global Tennis Apparel, Footwear, and Accessories Market in US Customer Landscape
Vendors 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.
newbalance.com - The company offers tennis apparel, footwear, and accessories such as Coco CGI unisex tennis shoes. Also, under this segment, the company offers shoes, clothing and accessories for various sports.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. In this segment, US vendors operate in the organized retail sector based on various factors such as goods transportation, location, ease of production, and inventory management. Prominent vendors mainly invest in brick-and-mortar organized retail stores to maximize their regional and global shares. Key vendors are focusing on opening offline retail establishments across the country. However, the growth in the number of retail outlets across the country is expected to drive the sales of tennis apparel, footwear, and accessories hence propelling the growth of the market in focus during the forecast period.
Get a glance at the market contribution of various segments Request a PDF Sample
The offline segment was valued at USD 389.04 million in 2017 and continue to grow by 2021. The offline segment comprises department and discount stores; sports and specialty stores; warehouse clubs; and hypermarkets. Offline retail channels such as department stores and hypermarkets are the most popular and preferred channels for a wide range of sports products, including tennis apparel, footwear, and accessories, as they provide a proper assortment of products under a single roof. Factors such as discounts and enhanced shopping experiences encourage consumers to buy tennis apparel, footwear, and accessories from offline retail channels. These channels also have the advantage of selling high volumes of sports products, which gives them a high buying power. This allows offline retail channels to apply competitive pricing for the products by offering discounts. Target, Tesco, and Walmart are some of the largest retail chains that have separate retailing sections for a wide range of sports products, including tennis apparel, footwear, and accessories. Such factors will increase the segment growth during the forecat period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Tennis Apparel, Footwear, And Accessories Market Scope in US |
|
Report Coverage |
Details |
Page number |
147 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.51% |
Market growth 2023-2027 |
USD 208.5 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.87 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
adidas AG, ASICS Corp., Fila Holdings Corp, New Balance Athletics Inc., Nike Inc., PUMA SE, The Gap Inc., Under Armour Inc., Holabird Sports, Jofit LLC, lululemon athletica Inc., ANTA Sports Products Ltd., Berkshire Hathaway Inc., Do It Tennis , Fast Retailing Co. Ltd., Loriet LLC, Lotto Sport Italia Spa, Maus Freres SA, Solinco Sports, and Sumitomo Rubber Industries Ltd. |
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
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.