The global sports apparel market size was valued at USD 203.26 billion in 2023 and is projected to grow to USD 271.77 billion by 2030, exhibiting a CAGR of 4.24% during the forecast period.

The market has registered steady growth in recent years due to factors, such as new product launches and rising participation in sports activities in countries, such as India, the U.S., and others. The growing preference for outdoor recreational activities among the young population has contributed significantly towards the sales of sports apparel. This aspect, along with rising health consciousness and growing inclination towards sports will accelerate the global sports apparel market growth.

Information Source: https://www.fortunebusinessinsights.com/sports-apparel-market-107401

LIST OF KEY COMPANIES PROFILED IN THE SPORT APPAREL MARKET REPORT

• Nike, Inc. (U.S.)
• Adidas AG (Germany)
• Puma SE (Germany)
• Lululemon Athletica, Inc. (Canada)
• Under Armour, Inc. (U.S.)
• Columbia Sportswear Company (U.S.)
• Asics Corporation (Japan)
• FILA Holdings Corp. (South Korea)
• Mizuno (Japan)
• LI Ning Company Limited (China)

Segmentation:

Tops & T-shirts Witness Strong Rise in Sales, Might Fuel Market Growth

Based on product, the global sports apparel market is divided into tops & t-shirts, trousers & tights, shorts, and others. The tops & t-shirts segments account for the largest market share and may register a strong CAGR during the forecast period. More women are taking part in athletics every year. More people are also participating in outdoor recreational activities. In addition, companies are introducing new top and t-shirt designs & collections. For example, in August 2022, luxury fashion brand H&M launched its new sportswear brand ‘H&M Move’. The brand will cater to the ever-growing demand for active wear among consumers. The new lineup consists of functional tops, lightweight jackets, and a wide range of tights and bras, along with garments designed to train and run.

Growing Participation of Women in Sports and Recreational Activities to Boost Sports Apparel Adoption

Based on demography, the market is segmented into men, women, and kids. The women segment is predicted to account for a sizeable market share. The growing percentage of women participating in sports and other outdoor recreational activities will fuel the adoption of tights, sports tops, and other garments. Many companies are launching new products to cater to the new market space.

For instance, in August 2021, ONLY, one of the leading European fashion brands for women, entered the sports apparel segment with its new collection “Only Play”. This launch was aimed at strengthening its position as a fashion-forward brand in the market by providing a wide range of products to meet the rising demand from millennial women. The collection includes tops, tights, tank tops, shorts, and other items with technical specialties, such as removable and non-removable padding, racerback style, functional pockets, and windproof breathability to offer stability and comfort to women while performing their daily activities.