According to Arizton’s latest research report, the sportswear market is growing at a CAGR of 6.61% during 2023-2029.
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Report Scope:
Market Size (2029): $579.96 Billion
Market Size (2023): $395.03 Billion
CAGR (2023-2029): 6.61%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Product, Activity Type, End-User, Distribution Channel, and Geography
Geographical Analysis: North America, Europe, APAC, Latin Africa and Middle East & Africa
The global sportswear market is poised for steady growth, driven by rising participation in fitness, wellness, and athleisure. The expanding population in the Asia-Pacific (APAC) region further boosts demand for sportswear. A shift toward eco-friendly products is also reshaping the market, with sustainability influencing consumer choices and market competition. Technological advancements, such as 3D printing and custom-fit designs, allow manufacturers to offer personalized sportswear, catering to athletes’ specific needs and preferences, which has fueled demand for innovative, tailored products.
Following the pandemic, physical activity rebounded strongly, with a 14.3% annual growth from 2020 to 2022, and mindful practices like yoga and Pilates gained popularity for both physical and mental well-being. This trend has driven demand for sportswear that supports diverse activities. Yoga has become more inclusive, with participants of all ages seeking comfortable, functional, and stylish active wear.
The growing global interest in cricket also spurs demand for specialized sportswear, especially in key markets like India, South Africa, and Australia. As more people engage in various sports activities, the overall consumer base for sportswear expands. This increased focus on fitness and wellness is expected to sustain growth in the sportswear market across regions.
Sportswear Market in APAC to Witness Growth
The sportswear market in the APAC region is set for rapid expansion, driven by growing participation in sports like cricket, running, fitness, yoga, and outdoor activities. The rise of athleisure, which blends sportswear with fashion, has further fueled demand as sportswear is increasingly worn as casual attire. Major international events in the region are boosting sports culture and creating opportunities for sportswear brands to increase visibility and market share.
China, India, and Japan are key drivers of this growth, with a growing appetite for athletic and athleisure apparel. The region’s diverse consumer base values innovation and sustainability, prompting brands to invest in eco-friendly practices and advanced materials. Nike’s flagship store in Singapore, opened in January 2024, exemplifies this trend by offering innovative sportswear tailored to women and providing customizable experiences.
E-commerce growth has also transformed how consumers purchase sportswear, making global brands more accessible. Brands like Anta and Castore are expanding their presence in APAC, capitalizing on the region’s post-pandemic fitness boom. The rising popularity of women’s sports, particularly in Australia, is pushing the demand for inclusive sizing and diverse styles in sportswear.
With innovation, inclusivity, and sustainability at the forefront, the sportswear market in APAC is poised for continued growth and transformation.
The Role of Online and Offline Channels in Sportswear Market Sales
The demand for sportswear through online channels has surged due to increasing internet penetration and the rapid growth of smartphone users globally. Many vendors have expanded their reach by partnering with e-commerce platforms or launching their own websites. In contrast, offline channels remain important, with exclusive brand outlets (e.g., Nike and Puma stores) and multi-brand outlets (e.g., Shoppers Stop) playing a significant role in driving sales.
Choosing the right distribution channel is crucial for sportswear vendors to boost sales. While online sales offer direct-to-consumer access, many brands still rely on brick-and-mortar stores for customer retention, offering discounts and seasonal promotions to enhance customer loyalty. These physical stores also help manage inventory and reduce product return rates.
For vendors, online sales channels have become a cost-effective option, reducing operational expenses by eliminating intermediaries and lowering staff and security costs. Additionally, e-commerce allows global reach, helping vendors expand their market presence and access a broader customer base.
Strategic Insights for Sportswear Market Leaders
The global sportswear market is highly fragmented, with intense competition among key players such as NIKE, Adidas, ANTA Sports, VF Corporation, and Under Armour. While market concentration is high in the US and Europe, developing economies like APAC, particularly China and India, are seeing rapid growth due to the entry of international brands and rising consumer demand. Competition is driven by factors like innovation, quality, style, price, and performance technology. To stay competitive, companies must align with consumer preferences, adopt sustainable practices, manage efficient supply chains, and navigate rising raw material costs to maintain profitability.
Key Developments in the Global Sportswear Market
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Key Company Profiles
Market Segmentation
Product
Activity Type
End-User
Distribution Channel
Geography
North America
APAC
Europe
Latin America
Middle East & Africa
The Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to gain a thorough understanding of the sportswear market. Request for Free Sample to get a glance of the report now: https://www.arizton.com/market-reports/sportswear-market-size-analysis
What Key Findings Will Our Research Analysis Reveal?
How big is the global sportswear market?
What is the growth rate of the global sportswear market?
What are the significant trends in the sportswear industry?
Which region dominates the global sportswear market share?
Who are the key players in the global sportswear market?
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