Performance apparels market is driven by a number of factors owing to increasing disposable income and improved standard of living globally. Emerging countries such as China, Brazil and India are contributing to the growth of performance apparel market globally. Furthermore, rising demand for advanced and comfortable performance apparels globally especially for sports apparels is fuelling the growth of the market. However, availability of counterfeit apparels is restraining the growth of the market which can affect the profits and brand value of the key market players. Producing low-cost performance apparels with high-tech fiber materials can be great opportunity for market players to grow over the forecast period.
Performance apparels keep active people and sportsman comfortable, cool and flexible from moisture conditions with some management and techniques. Performance apparels are extensively used by athletes and they are offered in two sections including protective clothing and sportswear. These apparels are sold to both business-to-business and individual consumers at wholesale & retail prices respectively. Performance apparels garments are made specific ways such as trim & fabric specification or chemical and fiber treatments.
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Performance apparels are segmented into two types such as sportswear and protective clothing. Sportswear performance apparels were estimated as the largest market share. Due to rising sports participation across the globe and health awareness is expected to propel the growth of the market over the forecast period. Performance apparel market is segmented on the basis of mode of sale into two sections such as retail mode and online mode. The retail segment consists of discount stores, brand outlets, and supermarkets. Online sale platforms, especially e-commerce sites, has witnessed a significant growth all over the globe, owing to the ease of availability and accessibility of a wide range of products at a reasonable and competitive price.
Furthermore, on the basis of end-user performance apparels are segregated into three segments such as men’s, women’s and kids. Men’s performance apparels dominate the market owing to a large number of men athletes and growing interest for the performance apparels. On the other hand, women’s apparels are the second most end-user segment due to rising participation of the women’s in the different sports activities. On the basis of geography performance apparel market is segmented into North America, Europe, Asia-Pacific and others.
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North America was accounted for the highest market share of the performance apparel market share followed by Asia-Pacific and Europe in 2015. Owing to continuous innovation and development of new products coupled with awareness pertaining to health is fuelling the growth of the market in this region. However, Asia-Pacific is expected to emerge as the biggest market over the forecast period due to increasing purchasing power of the consumers and rising health awareness.
Furthermore, the presence of emerging countries like China, India, and Japan, in light of growing sports participation and sports industry is expected to propel the growth of the market over the forecast period. China’s performance apparel market is expected to witness one of the fastest growing markets in the global market over the forecast period owing to affordable luxury apparel and online retailing as the convenient sales platform for apparels.
Some of the key market players of automotive device market are Puma, Adidas, Under Armour, Nike, Lulu lemonAthletic and others. Nike is the major provider of performance apparels which provides sportswear apparels with new fiber technologies. Innovative and high technology products are being introduced in the market, as the players are emphasizing on new product development in the market. Some of the key players are also entering into collaborations, partnerships and mergers & acquisitions to strengthen their market position and to enhance their market presence.
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Growing active lifestyle and rising participation in the competition, exercise, & recreation are the key trends that will be propelling the growth of the market over the projected period. The major companies such as Puma, Adidas, Under Armour, Nike, Lulu lemon and Athletic are expected to dominate the market over the forecast period owing to their continuous efforts intended to design and emphasize on research activities and new product developments to accommodate the consumer demand. This industry is expected to become highly competitive over the forecast period owing to the fact that it is driven by incorporation of new technologies and development of cost-effective products.
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