NEW YORK ,
July 10,
2024 /PRNewswire/ -- The global sports and fitness
wear market size is estimated to grow by USD
62.3 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of 4.49% during the
forecast period. Leading brands like Nike, Adidas, and Under Armour
are at the forefront of innovation in sports and fitness wear. They
are integrating advanced materials and technologies such as
moisture-wicking fabrics, compression technology, and wearable tech
to enhance performance and comfort for athletes and fitness
enthusiasts. Despite challenges like volatile raw material prices,
these brands continue to drive market growth through their
commitment to innovation and meeting the increasing demand for
high-performance athletic apparel and footwear globally.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
End-user (Women and
Men), Product (Top wear, Bottom wear, and Support items),
Application (Outdoor, Sports-inspired, and Performance), and
Geography (North America, APAC, Europe, South America, and Middle
East and Africa)
|
Region
Covered
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Adidas AG, ASICS Corp.,
Brooks Sports Inc., Columbia Sportswear Co., Deckers Outdoor Corp.,
Kappa, Karhu Holding BV, Li Ning Co. Ltd., lululemon athletica
Inc., Mizuno USA Inc., New Balance Athletics Inc., Nike Inc.,
Patagonia Inc., PUMA SE, Ralph Lauren Corp., Skechers USA Inc., The
Gap Inc., Under Armour Inc., VF Corp., and Wolverine World Wide
Inc.
|
Key Market Trends Fueling Growth
The sports and fitness wear market is witnessing continuous
advancements in technology and features to enhance user experience
and satisfaction. Manufacturers prioritize improving product
quality on parameters such as wicking, comfort, grip, stickiness,
and sustainability. Technological innovations include
moisture-wicking fabrics, thermal technology, and compression
fabrics. Moisture-wicking fabrics move sweat to the surface for
evaporation, keeping athletes dry and preventing chafing. Thermal
technology keeps the body warm in colder conditions. Compression
fabrics tighten around muscles during workouts, improving
circulation and preventing numbness. Protective, or reactive,
materials instantly harden during severe impacts, ensuring safety
without restricting motion. Brands like Nike, Under Armour, adidas,
ASICS, PUMA, and VF Corporation are introducing these technologies
to cater to consumer preferences. Examples include Nike's Advanced
Innovation Kitchen technology and Under Armour's CoolSwitch
technology. This rapid technological evolution is expected to
positively impact the global sports and fitness wear
market.
The Sports and Fitness Wear market is thriving, with trends like
Tanks, Custom Apparel, T-shirts, and Sweatshirts leading the way.
Consumers, including gym goers, youngsters, and working
professionals, seek eco-friendly, organic materials and recycled
fabrics for their active lifestyle. The Athleisure trend continues,
with fitness influencers promoting premium sportswear on social
media. Product performance, comfort, and fashion are key factors.
Industry frontrunners offer friction reduction, lightness,
stretching ability, water resistance, and temperature regulation.
Team sports, yoga, weightlifting, fitness activities, and
individual sports drive demand. Price sensitivity varies among
consumers, with adventure travelers and women in sports also target
markets. Fashion trends influence casual wear in urban localities,
with fashion designers focusing on product performance and
innovation.
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Market Challenges
- The sports and fitness wear market is currently facing
challenges from fluctuating raw material prices and increasing
competition. Key players like adidas, Nike, and PUMA are
experiencing profit margin fluctuations due to these factors. The
emergence of local players has led to price wars, compelling
vendors to reduce product prices, negatively impacting their profit
margins. Raw materials, such as synthetic fibers like spandex and
polyester, have volatile prices, making it difficult for vendors to
anticipate costs and invest accordingly. Cost-conscious consumers
prefer affordable sports and fitness wear, reducing the sales
potential and revenue for global market competitors. This situation
may hinder the growth of the sports and fitness wear market during
the forecast period.
- The Sports and Fitness Wear market encompasses team sports,
fitness activities, and individual sports apparel. Challenges
include catering to active lifestyles, physical fitness activities,
and addressing the needs of women, teenagers, and workplace wear.
Product performance, comfort, and fashion are key considerations.
Premium sportswear brands focus on friction reduction, lightness,
stretching ability, water resistance, and temperature regulation.
Industry frontrunners adapt to fashion trends, price
sensitivity, and consumer preferences. Adventure travel and women
in sports drive growth in the gym apparel market. Urban localities,
gym goers, youngsters, and young working professionals are
significant consumer groups. Corporations and public institutions
also influence demand. Activewear brands prioritize breathable
fabric, Spandex, microfiber, and eCommerce platforms. Nylon,
leggings, sports bras, and shirts are popular choices. The running
trends include lightweight materials and moisture-wicking
technology.
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challenges - Download a Sample Report
Segment Overview
This sports and fitness wear market report extensively covers
market segmentation by
- End-user
- Product
- 2.1 Top wear
- 2.2 Bottom wear
- 2.3 Support items
- Application
- 3.1 Outdoor
- 3.2 Sports-inspired
- 3.3 Performance
- Geography
- 4.1 North America
- 4.2 APAC
- 4.3 Europe
- 4.4 South America
- 4.5 Middle East and
Africa
1.1 Women- The Sports and Fitness Wear market is
experiencing significant growth due to increasing health
consciousness and a trend towards active lifestyles. Consumers seek
comfortable, functional clothing for workouts and outdoor
activities. Brands focus on innovation, using moisture-wicking
fabric and ergonomic designs to meet customer demands. The market
size is expected to expand, driven by rising disposable income and
a growing preference for athletic apparel. Companies invest in
marketing strategies to reach consumers through various channels,
including social media and partnerships with fitness
influencers.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Sports and Fitness Wear market caters to individuals engaged
in team sports, fitness activities, and individual sports. This
market embraces an active lifestyle, focusing on physical fitness
activities for all, including women. The demand for casual wear in
sports and fitness is on the rise, making it a versatile segment
for urban localities and workplace settings. Teenagers and young
working professionals are key consumers, seeking product
performance, comfort, and fashion. Premium sportswear, with
features like friction reduction, lightness, stretching ability,
water resistance, and breathable fabric, dominates the market.
Fashion designers infuse creativity into activewear, merging style
and functionality. The Gym apparel market thrives, with gym goers
and youngsters driving demand. Corporations and public institutions
also contribute to the market growth, promoting health and wellness
initiatives. Activewear brands continue to innovate, offering a
wide range of products to cater to diverse consumer needs.
Market Research Overview
The Sports and Fitness Wear market encompasses a wide range of
apparel designed for team sports, fitness activities, and
individual sports. This market caters to an active lifestyle,
focusing on physical fitness activities for various demographics,
including women, teenagers, and young working professionals.
Product performance, comfort, and fashion are key considerations,
with premium sportswear offering features like friction reduction,
lightness, stretching ability, water resistance, and temperature
regulation. Industry frontrunners continuously innovate,
incorporating fashion trends and addressing price sensitivity among
consumers. Adventure travel and women in sports are growing
sectors, with gym apparel market dominating urban localities and
gym goers. Youngsters and corporations also contribute
significantly to the market, driving demand for breathable fabrics
like Spandex, microfiber, and eco-friendly materials. Running
trends favor nylon, leggings, sports bras, shirts, tanks, and
custom apparel. Brands leverage eCommerce platforms and their
websites to reach consumers, while workout cloth markets and
leather goods markets also impact the industry. Fitness influencers
and social media campaigns further fuel growth, with weightlifting
and yoga gaining popularity.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Product
-
- Top Wear
- Bottom Wear
- Support Items
- Application
-
- Outdoor
- Sports-inspired
- Performance
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio