Sportswear Market

Market Overview:

The global sportswear market size reached USD 190.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 272.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.96% during 2024-2032. The market is being driven by increasing health and fitness awareness, growing athleisure trend, rising e-commerce and online shopping, expanding sports participation globally, and rising demand for sustainable materials. At present, North America holds the largest sportswear market share, due to the increasing consumer focus on health and fitness.

Sportswear refers to informal clothing designed for comfort and playing sports. Tracksuits, tennis shirts, T-shirts, hoodies, shorts, polo shirts, and swimsuits are common sportswear mainly worn while participating in physical activities. Depending on the intensity and the type of sport, they can be manufactured using various flexible materials, such as cotton-polyester, nylon-spandex, cotton, polypropylene, polyester-spandex, and wool blend. Sportswear is commonly worn while playing golf, tennis, cricket, football, basketball, hiking, bicycling, and jogging. Compared to non-specific sportswear, it helps improve athletes' performance, prevents injury during exercise, provides extra comfort, reduces the delayed onset muscle soreness (DOMS), promotes the health of the wearer, and minimizes post-workout muscle cramps.

Sportswear Market Trends:

Rising Health and Fitness Awareness

One of the major factors driving the global sportswear market is the increasing focus on health, fitness, and general well-being. With an increasing number of individuals prioritizing staying active, there is a rise in the popularity of fitness clothing. This pattern is driven by growing awareness about the advantages of consistent physical activity, including better mental health, weight control, and disease prevention. The increase in chronic diseases such as obesity, diabetes, and cardiovascular conditions worldwide has motivated individuals to engage in more physical activities, leading to a higher demand for sports clothing. The increasing popularity of outdoor activities, sports events, and gym memberships reflects a strong emphasis on health and wellness. According to IHRSA Global Report, about 80% of gym owners expect membership and revenue to increase by more than 5% in 2023. Fitness tracking technology and social media have also been crucial in advocating for exercise as a group-oriented activity. The rise of fitness influencers and online platforms endorsing healthy living has led to a significant need for clothing that caters to different types of exercises, such as yoga and high-intensity workouts. Sportswear companies are creating stylish and functional products by incorporating performance-enhancing fabrics such as moisture-wicking materials and compression technology.

Expansion of E-Commerce and Digital Platforms

As per the latest sportswear market analysis, e-commerce expansion is a major factor driving global sales. According to IMARC Group, the global e-commerce market reached US$ 21.1 Trillion in 2023, and is expecting to reach US$ 183.8 Trillion by 2032, exhibiting a CAGR of 27.16% during 2024-2032. With the rise in online shopping by consumers, the sportswear sector has taken advantage of this trend by putting resources into strong online retail systems. E-commerce has become a necessary factor in market expansion due to the ease of buying sportswear from home, along with favorable return policies, competitive prices, and a larger product selection. Numerous sportswear companies have adopted omnichannel tactics, combining online and offline experiences to meet evolving consumer habits. Tailoring recommendations and ads based on individual shopping habits and preferences is possible through personalized marketing, which is driven by data analytics and AI. Furthermore, trust and brand awareness are fostered by online reviews, influencer endorsements, and social media engagement. Social media platforms such as Instagram and TikTok have emerged as influential channels for promoting new fashion collections, exercise challenges, and athletic wear trends, establishing a direct connection between brands and consumers.

Increased Participation in Sports and Physical Activities

Another key factor contributing to the sportswear market growth is the increasing involvement in structured sports and physical activities. In the last ten years, there has been a clear rise in the number of individuals participating in professional and amateur sports. The increase in sports involvement is due to various factors such as government programs encouraging physical fitness, the growing popularity of sports events, and a cultural change toward valuing physical activity and competition. Governments and health organizations worldwide are becoming more conscious of the significance of physical activity in addressing public health issues such as obesity, cardiovascular diseases, and mental health disorders. Consequently, numerous nations have implemented policies and initiatives to promote involvement in sports across various age groups, including schoolchildren and adults. Efforts such as the Olympics, FIFA World Cup, and local marathons have increased interest in sports participation.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global sportswear market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, distribution channel and end user.

Breakup by Product:

• Shoes
• Clothes
   

Breakup by Distribution Channel:

• Online Stores
• Retail Stores
   

Breakup by End User:

• Men
• Women
• Kids
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global sportswear market. Detailed profiles of all major companies have also been provided. Some of the companies covered include:

• Adidas AG
• Anta Sports Products Limited
• ASICS Corporation
• Columbia Sportswear Company
• Fila Inc.
• Lululemon Athletica Inc.
• New Balance Athletics Inc.
• Nike Inc.
• Patagonia Inc.
• Puma SE
• Under Armour Inc.
   

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Sportswear Market News:

• August 2024: Dazzle Sportswear has launched a new eco-friendly collection of track pants, T-shirts, shorts, and leisurewear, reflecting its commitment to sustainable fashion. The latest range of the brand is priced between Rs. 600 and Rs. 1,500 and is crafted from premium, recyclable fabric, designed to offer style and comfort while minimizing environmental impact.
• August 2024: Sachin Tendulkar has announced the launch of a new sports athleisure brand in partnership with former Swiggy executives, focusing on affordable pricing and local manufacturing. The venture is backed by Whiteboard Capital and will initially offer products for sports such as cricket and badminton, tapping into the growing demand for sports goods in the Indian market.

Report Coverage:

Key Questions Answered in This Report:

• How has the global sportswear market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global sportswear market?
• What are the key regional markets?
• What is the breakup of the market based on the product?
• What is the breakup of the market based on the distribution channel?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global sportswear market and who are the key players?
• What is the degree of competition in the industry?