DUBLIN, March 16, 2022 /PRNewswire/ — The “Sports & Fitness Clothing – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Sports & Fitness Clothing Market to Reach $221.3 Billion by 2026
Amid the COVID-19 crisis, the global market for Sports & Fitness Clothing estimated at US$172 Billion in the year 2020, is projected to reach a revised size of US$221.3 Billion by 2026, growing at a CAGR of 4.4% over the analysis period. Sports Apparel, one of the segments analyzed in the report, is projected to record 4.5% CAGR and reach US$193.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Fitness Clothing segment is readjusted to a revised 3.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $63 Billion in 2021, While China is Forecast to Reach $27 Billion by 2026
The Sports & Fitness Clothing market in the U.S. is estimated at US$63 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$27 Billion by the year 2026 trailing a CAGR of 7.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
The ongoing health and wellness trend continues to be the primary driver of the global sports & fitness apparel market, prompting consumers to spend on these apparels, mainly sportswear and active wear products. Consumer focus on healthy regime and rising level of health-consciousness are making people to get selective regarding apparels for gym sessions, personal training and casual work. Increasing engagement in sports and adventurous activities like cycling and trekking is favoring the market expansion. In addition, aggressive efforts by fitness influencers to promote active wear and attract consumers have resulted in the athleisure cult, encouraging people to wear active wear on gyms as well as social gatherings and runways.
The market growth is also propelled by rising adoption of functionality-specific apparels and footwear and technological advancements. The use of engineered fabrics in functional apparel offers protects from extreme cold or heat, chemicals and radiation. These fabrics can absorb sweat and keep users cooler in summer and warm in winters. Some of the latest functional apparel are made using anti-bacterial materials capable of preventing body odor.
On the other hand, athletic footwear offered by major brands maximizes user comfort and improves athletic performance while reducing the risk of injuries. Increasing incident of foot diseases and allergies is prompting companies to offer sports shoes & socks with specialized features. While various manufacturers are offering sports socks with extra padding to mitigate risk of foot allergies, others are increasingly incorporating sophisticated technologies in their hosiery products.
Moreover, increasing focus of various medical laboratories on R&D is expected to bolster the adoption of medical laboratory-wear apparels. These factors are slated to help the global functional apparel market in experiencing a consistent growth over the coming years.
By Type, Top Wear Segment to Reach $100.5 Billion by 2026
Global market for Top Wear (Type) segment is estimated at US$74.8 Billion in 2020, and is projected to reach US$100.5 Billion by 2026 reflecting a compounded annual growth rate of 5.1% over the analysis period. The United States constitutes the largest regional market for Top Wear segment, accounting for 34.7% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 8.3% over the analysis period, to reach US$14.5 Billion by the close of the analysis period.
Select Competitors (Total 556 Featured):
- adidas AG
- Reebok International Limited
- Anta Sports Products Limited
- ASICS Corporation
- Columbia Sportswear Company
- Elite Sportswear, LP.
- Gap, Inc.
- Hanesbrands Inc.
- Hosa International Ltd.
- Li Ning Company Limited
- lululemon athletica
- Mizuno USA, Inc.
- NIKE, Inc.
- Patagonia, Inc.
- Peak Sport Products Co. Ltd.
- Puma SE
- TerraFrog Clothing Corporation
- Under Armour, Inc.
- VF Corporation
Key Topics Covered
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Sports & Fitness Clothing – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- How the COVID-19 Pandemic Destroyed the Global Economy
- COVID-19 Leaves the World in Shambles & Industries and Markets Upended
- Social Distancing, Bans on Tourism, Rising Unemployment & ‘Decimated’ Consumer Confidence Together Bring Down the Sports & Textile Industries
- Sports Industry Reels Under the Impact of Social Distancing Measures as the New Way of Life
- The Worst Affected by the Pandemic, the Struggling Sports Industry Destroys All Hopes for Normalcy for All in the Value Chain
- Sharp Decline in the Number of Tourists Impacts Sports Tourism Related Retail Trade
- Textile Industry Grapples With Supply Chain Disruptions & Poor Consumer Spending
- A Massively Bleeding Global Apparel Industry Asphyxiates the Sports & Fitness Clothing Market
- Sports & Fitness Clothing Fails to Cope With the Strong Double-Whammy of Headwinds Sweeping Through the Sports & Textile Industries
- Rising Levels of Unemployment Threatens to Shrink the Middle Class Population, Impacting Industries Dependent on Discretionary Income
- Rapidly Eroding Consumer Confidence Thwarts Hopes for a Quick Recovery
- Looking Beyond the Current Bleak Outlook, the Pandemic is Creating a Strong Platform for Health & Fitness
- Increased Emphasis on Health & Fitness Post COVID-19 Promises to Make Amends for the Damages Sustained in Year 2020
- With Workouts Shifting to Consumer Homes, Demand for Indoor Sportswear to Get a Fresh Lease of Life in the Post COVID-19 Period
- Spike in Sales of Fitness Equipment in Year 2020 Is An Encouraging Sign of Coming Good Times for Sports & Fitness Clothing
- Fitness Routine Changes of People as a Result of COVID-19
- Sports & Fitness Clothing: Definition & Scope
- Recent Market Activity
- World Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Digitalization of the Fitness & Fashion Industry to Accelerate in the Post COVID-19 Period
- Connected Clothing to Arrive Much Earlier Than Previous Forecasts
- Innovation in Sports Functional Clothing Breaks Loose, Promising a Robust Future Filled With Opportunities
- Moisture Management Clothing Receives Special Focus
- All Things Anti-Microbial & Anti-Virus Gets a Boost Due to COVID-19 Pandemic
- COVID-19 Fast Tracks Transition to Sustainable Clothing & Fashion
- Here’s Why the Environment & Sustainability Will be Top Priorities After the Pandemic
- COVID-19 Pushes Sustainability From Just Plans & Strategies to Action
- Here’s What to Expect in the Sustainable Clothing & Fashion Space
- Textile Recycling Gathers Steam
- Innovations in Smart Fabrics Provide a Window Into the Exciting Future of Fashion
- Athleisure Wear Will Continue to Outpace the Rest of the Apparel Categories in the Post COVID-19 Period
- The Epic Moment in Human History Where Sports Meets Fashion
- 3D Printing Promises to Revolutionize the Future of Clothing Manufacturing
- Women Represent a Large & Lucrative Consumer Cluster – Here’s Why
- COVID-19 Thrusts e-Commerce/Online Retail into the Spotlight
- Social Distancing Mandated by COVID-19 Leads to Massive Consumer Migration to Online Platforms
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Total Companies Profiled: 556
For more information about this report visit https://www.researchandmarkets.com/r/qb4op9
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets