November 27, 2019
According to the research report titled ‘Global Sportswear Market - By Type (Apparel, Footwear), By Sub-Type - Apparel (Top wear, Bottom wear, Accessories, Others), Footwear (Athletic, Non-Athletic) By Region, By Country (2018 Edition): World Market Review and Forecast to 2023’ available with Market Study Report LLC, the global sportswear market is estimated to grow with a CAGR of 5.80% during the period of 2018-2023.
Growing inclination towards sports among global population coupled with rising concerns regarding health and fitness are driving the growth of the global sportswear market. Additionally, surging trend of using athleisure and escalating per capita income will further fuel the demand for sportswear across the globe.
As per type, the global sportswear market is categorized into apparel and footwear segments. The apparel segment is further divided into accessories, bottom wear, top wear and others. Footwear segment is also classified into athletic and non-athletic. Report cites that athletic footwear segment dominated the sportswear market in 2018, due to the comfort and efficiency offered by the product, increasing awareness about wellness and health among consumers, combined with growing number of jogging tracks, gyms and fitness clubs.
In terms of sales channel, the sportswear market is divided into online and offline, in which the online segment is estimated to grow substantially over the analysis period, owing to increasing use of internet and rising number of smartphone users worldwide.
Considering the geographical landscape, the global sportswear market is divided into regions, namely Europe, North America, Asia-Pacific, and rest of the world with primary focus on countries like Canada, US, France, Germany, UK, China, Japan and India.
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According to the report, APAC sportswear market held the largest regional share in 2018, pertaining to large consumer base, escalating per capita income and growing conscience for health and fitness in the region.
The key players in the global sportswear market are Nike, Adidas, Columbia, Puma, Under Armour, Skechers, VF Corp., Dick’s Sporting Goods, and ASICS Corp.
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