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.
Technavio has announced its latest market research report titled Global sports and fitness wear market 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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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) |
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Region Covered |
North America, APAC, Europe, South America, and Middle East and Africa |
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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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Segment Overview
This sports and fitness wear market report extensively covers market segmentation by
End-user
1.1 Women
1.2 Men
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.
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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.
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SOURCE Technavio