DUBLIN, March 16, 2022 /PRNewswire/ — The “Sports & Fitness Clothing – Global Market Trajectory & Analytics” report has been added to from ResearchAndMarkets.com offer.
Global sports and fitness apparel market to reach $221.3 billion by 2026
Amid COVID-19 crisis, Global Sports and Fitness Apparel Market Estimated at 172 billion US dollars in 2020, is expected to reach a revised size of US$221.3 billion by 2026, growing at a CAGR of 4.4% over the analysis period. Sportswear, one of the segments analyzed in the report, is expected to register a CAGR of 4.5% and reach US$193.9 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the fitness apparel segment is readjusted to a revised CAGR of 3.6% for the next 7-year period.
The US market is estimated at $63 billion in 2021, when China is expected to reach $27 billion by 2026
The sports and fitness apparel market in the United States is estimated at US$63 billion in the year 2021. Chinathe second largest economy in the world, is expected to reach a projected market size of 27 billion US dollars by 2026 with a CAGR of 7.3% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 3.2% and 3.3% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of approximately 3.9%.
The current health and wellness trend continues to be the major driver of the global sports and fitness apparel market, prompting consumers to spend on these apparel, primarily activewear and activewear. Consumers’ emphasis on a healthy diet and growing level of health awareness is causing people to be selective when it comes to clothing for gym workouts, personal training, and casual work. Rising engagement in sports and adventure activities like cycling and trekking is driving the expansion of the market. Additionally, aggressive efforts by fitness influencers to promote sportswear and attract consumers have resulted in the cult of athleisure, encouraging people to wear sportswear in gyms as well as at social gatherings and podiums.
The growth of the market is also propelled by the increasing adoption of feature-specific apparel and footwear and advancements in technology. The use of technical fabrics in functional clothing provides protection against extreme cold or heat, chemicals and radiation. These fabrics can absorb sweat and keep users cool in summer and warm in winter. Some of the latest functional clothing is made from antibacterial materials that can prevent body odor.
On the other hand, sports shoes offered by major brands maximize user comfort and improve sports performance while reducing the risk of injury. The increasing incidence of foot diseases and allergies is prompting companies to offer athletic shoes and socks with specialized features. While various manufacturers offer sports socks with extra padding to mitigate the risk of foot allergies, others are increasingly incorporating sophisticated technologies into their hosiery products.
In addition, the increasing attention paid by various medical laboratories to R&D is expected to drive the adoption of medical laboratory clothing. These factors are expected to help the global functional clothing market grow steadily over the coming years.
By type, top wear segment to reach $100.5 billion by 2026
Global Top Wear (Type) segment market is estimated at US$74.8 billion in 2020, and should reach US$100.5 billion by 2026 reflecting a compound annual growth rate of 5.1% over the analysis period. United States constitutes the largest regional market for the Top Wear segment, accounting for 34.7% of global sales in 2020. China is poised to record the fastest compound annual growth rate of 8.3% over the analysis period, reaching US$14.5 billion at the end of the analysis period.
Select contestants (556 total featured):
- adidas S.A.
- Reebok International Limited
- Anta Sports Products Limited
- ASICS Company
- Columbia sportswear company
- Elite Sportswear, LP.
- Gap, Inc.
- Hanesbrands Inc.
- Hosa International Ltd.
- Li Ning Company Limited
- lululemon athletic
- Mizuno United StatesInc.
- NIKE, Inc.
- Patagonia, Inc.
- Peak Sport Products Co.Ltd.
- Puma SE
- TerraFrog Clothing Company
- Under Armour, Inc.
- V.F. Corporation
Main topics covered
1. MARKET OVERVIEW
- Overview of the influencer market
- Global Market Trajectories
- Sports and fitness apparel – Percentage of market share of the main global competitors in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Gamers Worldwide in 2022 (E)
- How the COVID-19 pandemic destroyed the global economy
- COVID-19 leaves the world in shambles and industries and markets upended
- Social distancing, tourism bans, rising unemployment and ‘decimated’ consumer confidence are bringing down the sports and textile industries together
- The sports industry under the impact of social distancing measures as a new way of life
- Worst hit by the pandemic, the struggling sports industry is destroying all hopes of normality for everyone in the value chain
- The sharp drop in the number of tourists is impacting the retail trade linked to sports tourism
- The textile industry is struggling with supply chain disruptions and lackluster consumer spending
- A massively bleeding global apparel industry is suffocating the sports and fitness apparel market
- Sports and fitness apparel fails to cope with the double whammy of headwinds sweeping the sportswear and textile industries
- Rising unemployment levels threaten to shrink the middle class population, hurting industries dependent on discretionary income
- The rapid erosion of consumer confidence thwarts hopes of a quick recovery
- Beyond the current bleak outlook, the pandemic creates a strong platform for health and fitness
- Increased focus on health and fitness after COVID-19 promises to repair damage in 2020
- With workouts shifting to consumers’ homes, demand for indoor sportswear to find a new lease of life in the post-COVID-19 era
- Rising fitness equipment sales in 2020 are an encouraging sign of good times for sports and fitness apparel
- Changes in people’s fitness routine as a result of COVID-19
- Sports and fitness clothing: definition and scope
- Recent market activity
- Global brands
2. FOCUS ON CERTAIN PLAYERS
3. MARKET TRENDS AND DRIVERS
- The digitalization of the fitness and fashion industry will accelerate in the post-COVID-19 period
- Connected clothing will arrive much sooner than expected
- Innovation in functional sportswear is unleashed, promising a strong future filled with opportunity
- Moisture management garments receive special attention
- Everything Antimicrobial and Antivirus Gets a Boost Due to the COVID-19 Pandemic
- COVID-19 is accelerating the transition to sustainable clothing and fashion
- Here’s why the environment and sustainability will be top priorities post-pandemic
- COVID-19 pushes the sustainability of Just plans & action strategies
- Here’s what to expect in the sustainable clothing and fashion space
- Textile recycling is gaining momentum
- Innovations in smart fabrics open a window to the exciting future of fashion
- Sportswear will continue to overtake the rest of the clothing categories in the post-COVID-19 period
- The epic moment in human history when sport meets fashion
- 3D printing promises to revolutionize the future of garment manufacturing
- Women are an important and lucrative consumer group – Here’s why
- COVID-19 propels e-commerce/online retail into the spotlight
- Social distancing enforced by COVID-19 drives massive consumer migration to online platforms
4. GLOBAL MARKET OUTLOOK
III. MARKET ANALYSIS
- Total number of companies profiled: 556
For more information about this report visit https://www.researchandmarkets.com/r/qb4op9
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SOURCE Research and Markets