The Global Sportswear Market is poised to grow from USD 335.92 billion in 2023, expanding at a CAGR of 9.9% from 2024 to 2032. This growth is fuelled by the rising trend of health consciousness and an increasing number of individuals participating in various fitness and sports activities. The demand for sportswear is further amplified by the surge in the athleisure trend, where athletic apparel is now widely accepted in non-athletic settings. Sportswear brands are capitalizing on this trend by introducing collections that blend performance with style, appealing to both athletes and casual consumers.
The global sportswear market is also propelled by innovations in fabric technology. Features like moisture-wicking, odor control, and temperature regulation have become standard expectations among consumers, enhancing both the functionality and appeal of sportswear. Leading brands such as Nike, Adidas, and Under Armour are pushing boundaries by introducing cutting-edge technologies like Nike's Dri-FIT and Under Armour's HeatGear and ColdGear, which provide athletes with comfort in various weather conditions.
The influence of social media and celebrity endorsements plays a crucial role in driving brand visibility and consumer interest in sportswear. Platforms like Instagram, TikTok, and YouTube have become vital marketing tools for brands, helping them reach a wide audience. Collaborations between brands and celebrities have also proven highly effective in boosting sales, with notable examples such as Adidas' collaboration with Kanye West for the Yeezy line.
Moreover, the emphasis on sustainability is another factor shaping the sportswear market. Increasingly, consumers are opting for eco-friendly materials and brands that adopt sustainable practices. Companies such as Adidas with its Parley collection and Nike's Move to Zero initiative are leading the charge by using recycled materials and striving for zero carbon emissions in their supply chains.
Major market players included in this report are:
Nike, Inc.
Adidas AG
LI-NING Company Limited
Umbro Ltd.
Puma SE
Fila, Inc.
Lululemon Athletica Incorporation
Under Armour
Columbia Sportswear Company
Anta Sports Products Limited
Decathlon
Reebok
Gymshark
New Balance
ASICS Corporation
The detailed segments and sub-segments of the market are explained below:
By Product:
Footwear
Apparel
By End-User:
Men
Women
Children
By Distribution Channel:
Online
Offline
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East
Saudi Arabia
South Africa
Rest of Middle East and Africa
Years considered for the study:
Historical year - 2018-2023
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand-side and supply-side analysis of the market.
