A new market study, titled “Discover Global Running Apparel Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Introduction
When the world is suffering from the overweight nightmare, the consciousness among common people to remain fit is increasing day by day. Running is the most ancient and the most effective way to stay fit, so people all around the world prefer to run to stay fit. It can be practiced by different age group, from a ten-year-old boy to seventy years old senior citizen. As a result, the Running Apparel Market is growing like never before. The increasing demand forced the manufacturers to provide an improved quality product at a reasonable price.
The innovation in fabric sector helped the industry in terms of affordability and quality of the product. The new fabrics are providing better breathability, lightweight, and attractive design which improves the performance of the athlete in extreme condition. Government initiatives like Fit India Movement are inspiring people to stay fit and reducing the tariff and tax on sports products; both are instrumental for the growth of the industry. Recently, the Australian government decided to invest 230 million USD on various aspects of sports and physical activity sector. The Running Apparel Market is anticipated to show a Compound Annual Growth Rate(CAGR) of 6.6% during the forecast period.
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Market Segmentation of World Running Apparel Industry
Products, end-users, and regions can segment the global Running Apparel Market.
Based on products, the market can be segmented into Hats, Upper Garment, Under Clothing, and others.
By estimation, the upper garment is contributing to the largest market share and will remain so in the forecast period.
By End Users, the market can be divided as Professional Athletic and Amateur Sport.
Professional athletes are contributing the most in terms of market revenue.
Geographical Market Segmentation of World Running Apparel Industry
The geographical market of Running Apparel Market includes many regions and countries. Some of them are North America, Canada, Mexico, the USA, Asia-Pacific, Japan, China, South Korea, India, Australia, Malaysia, Indonesia, Vietnam, Philippines, Thailand, Singapore, Europe,
Germany, the UK, Italy, France, Russia, Spain, Central and South America, Brazil, Rest of Central and South America countries, the Middle East and African region, all GCC Countries, Egypt, Turkey, and South Africa.
The Indo Pacific region is anticipated to show the highest Compound Annual Growth Rate (CAGR) of around 7% during the forecast years. The Indo Pacific is followed by South American region and the Middle East and African region (the MEA region). The North American region holds the largest market share owing to the growing interest in running among masses. The UK, France, and Germany are instrumental for the industry growth in Europian region.
Current Happenings from World Running Apparel Industry
The Canadian cloth-manufacture giant Gildan is planning to expand its sale to the UK and then different parts of Europian Union. The company is also planning to build a manufacturing unit in Japan to provide branded clothes and sportswear in multiple growing markets in the region like India, China, South Korea, and Japan. As a result, the company was expecting huge growth in terms of sales and revenue and anticipated to reach a market share of 100 million USD by the year’s end.
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