Global Sportswear Market to Grow at a CAGR of 6.6% During 2024-2032, Aided by Increasing Demand for Athleisure Wear and Shift Towards Healthy Lifestyle

The sportswear market growth can be attributed to factors like rising participation of people in sports activities and increasing consumer spending power and desire for comfortable clothing. The surge in the popularity of global sports events like the Soccer World Cup, Olympic Games, and Cricket World Cup is a significant catalyst for the expansion of this market. A rise in health concerns, including stress and obesity, is propelling individuals towards adopting various sports and fitness activities. This, in turn, is fuelling the demand for fashionable and comfortable sportswear. Furthermore, the increasing prominence of international sportswear brands is also contributing to the heightened consumer interest in these products. The health advantages associated with fitness activities such as swimming, yoga, running, and aerobics are expected to favour the demand for sportswear.

North America is anticipated to maintain its dominant position throughout the forecast period, primarily driven by the presence of key industry giants like Nike and Adidas, which hold the largest market share for sportswear sales in North America. The region's sports culture, particularly in basketball and soccer, coupled with a growing emphasis on health and fitness, is anticipated to provide a significant impetus to the market.

In addition, the Asia Pacific region stands out as the fastest-growing market for sportswear. Countries such as China and India boast a higher proportion of their young population engaging in sports and recreational activities. This demographic trend, combined with an increasing affinity for international sportswear brands, rising disposable incomes, and a desire for enhanced lifestyle, is expected to drive substantial demand for sportswear across the Asia Pacific region.

Nike, Inc. (NYSE: NKE) stands out as one of the leading players in the global sportswear market. The company provides a diverse array of sportswear for men, women, and kids. Products provided by the company include shoes, jerseys, cleats, shorts, base layers, and others. The products are available on various e-commerce websites including Amazon.com, Inc. (NASDAQ: AMZN) and others.

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Market Breakup by Product, End User, Distribution Channel, and Region:

• The market is segmented based on product into clothes, shoes, and accessories.

• Based on end user, the market is categorised into men, women, and kids.

• Based on distribution channel, the market is segmented into online and retail.

• Region-wise, the global market for sportswear can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rising demand for comfortable clothing among Generation Z and millennials is supporting the market for sportswear. There is a heightened emphasis on fitness and overall wellness among these demographics, making sportswear a natural choice for both active pursuits and daily comfort.

• The shift towards remote work has made comfortable and versatile clothing options like athleisure more appealing, as they provide the comfort needed for both work and leisure activities.

• Governments worldwide are actively organising diverse sports programmes within their borders to encourage greater participation in sports. This concerted effort is poised to have a positive impact on the global demand for sportswear. These initiatives not only promote physical fitness and well-being but also foster a culture of sportsmanship and community engagement.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for sportswear for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product, end user, distribution channel, and major regions of sportswear.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global sportswear market include Nike, inc., Adidas AG, Puma SE, Lululemon Athletica Inc., Under Armour Inc., ASICS Corporation, FILA Holdings Corp., Columbia Sportswear Company, Li Ning (China) Sports Goods Co., Ltd., and ANTA Sports Products Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report:

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