Market Size –
The sports and fitness wear market size has grown strongly in recent years. It will grow from $67.58 billion in 2023 to $71.48 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to fitness and health awareness, athleisure trend, celebrity endorsements and influencer culture, technological innovations, and e-commerce growth.
The sports and fitness wear market size is expected to see strong growth in the next few years. It will grow to $89.94 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to sustainability and ethical practices, digitalization and personalization, emerging markets, health and wellness trends, innovation in performance wear. Major trends in the forecast period include rise of direct-to-consumer (DTC) brands, focus on inclusivity and diversity, expansion of sustainable product lines, integration of augmented reality (AR) and virtual reality (VR), health monitoring and fitness tracking.
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Scope Of Sports And Fitness Wears Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Sports And Fitness Wears Market Overview
Market Drivers –
The increasing focus on sports participation drives the sports and fitness wear market. Sports participation refers to the engagement of individuals in various sports and physical activities, including both organized and recreational sports. Sports and fitness wear provide practical benefits such as performance enhancement, injury prevention, and psychological and social advantages for athletes. For instance, in February 2023, according to the Sports & Fitness Industry Association (SFIA), a US-based trade association dedicated to promoting the sports and fitness industry, a total of 236.9 million Americans, representing 77.6% of the population, engaged in at least one sport activity, marking a 1.9% increase compared to 2021. Moreover, pickleball remains the fastest-growing sport, with participation nearly increasing by 85.7% year-over-year and by an astonishing 158.6% over three years. Therefore, increasing focus on sports participation will propel the growth of the sports and fitness wear market going forward.
Market Trends –
Major companies operating in the sports and fitness wear market focus on personalized activewear options, such as customized physical running shoes, to cater to individual preferences and offer unique, tailor-made consumer experiences. Customized physical running shoes are shoes that have been tailored to meet a customer’s specific needs or preferences. For instance, in November 2022, ASICS Corporation, a Japan-based sportswear company, launched a new ASICS x Solana UI Collection featuring custom-made GT-2000 11 running shoes. The collection consists of customized GT-2000 11 running shoes, available in two designs, light mode and dark mode. These shoes are exclusively designed for everyday activity and are available for purchase globally using USDC on Solana Pay. The ASICS x Solana UI Collection was launched as part of ASICS’ Web3 strategy, which aims to create world-class experiences that get the global Web3 community moving.
The sports and fitness wears market covered in this report is segmented –
1) By Product: Top Wear, Bottom Wear, Support Items
2) By Application: Outdoor, Sports-Inspired, Performance
3) By End User: Men, Women
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Regional Insights –
North America was the largest region in the sports and fitness wears market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports and fitness wears market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the sports and fitness wears market are Nike Inc., Adidas AG, Decathlon Group, The Gap Inc., Kappa, VF Corporation, Puma SE, Anta Sports Products Limited, Lululemon Athletica Inc., Skechers USA Inc., Ralph Lauren Corporation, Hanesbrands Inc., Under Armour Inc., New Balance Athletics Inc., Li Ning Company Limited, ASICS Corporation, Columbia Sportswear Company, Deckers Outdoor Corp., Fila Holdings Corp., Wolverine World Wide Inc., Mizuno Corporation, Brooks Sports Inc., Iconix International, Reebok International Limited, Patagonia Inc., Karhu Holding BV, Umbro International Limited
Table of Contents
1. Executive Summary
2. Sports And Fitness Wears Market Report Structure
3. Sports And Fitness Wears Market Trends And Strategies
4. Sports And Fitness Wears Market – Macro Economic Scenario
5. Sports And Fitness Wears Market Size And Growth
…..
27. Sports And Fitness Wears Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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