Pune,6, Dec, 2022: Maximize Market Research, a leading consumer goods and services research and consultancy firm has business intelligence report on the highly competitive Sports Apparel Market North America is expected to grow at a rate of 6.5 percent on account of changing lifestyle during the forecast period. The market is expected to grow from USD 171.25 billion in 2021 to USD 287.70 billion in 2029, at a CAGR of 6.7 percent for the forecast period from 2022 to 2029.
Sports Apparel Market Scope and Research Methodology
The Sports Apparel Market is a highly competitive market with key players consolidating their positions in developing economies with aggressive market entry strategies and through M&A. It is segmented by Product, End-Use, Distribution Channel and Region, with a focus on major firms such as market leaders, followers, and new entrants. The report is an investor guide that provides a comprehensive picture of the competitive landscape of leading players in the Sports Apparel Market by goods and services, revenue, financial status, portfolio, growth strategies, and geographical presence.
The report is a detailed analysis of the Sports Apparel Market by country, regional and global presence. By collecting historical data pertaining to the industry, current and future trends in the Sports Apparel Market are presented in the report along with growth rate and market size forecasts. Regional analysis of the market is conducted at local, regional and global levels for a better understanding of the market penetration, competitive structure, pricing and demand analysis. The report also covers the strategies followed by key players and gives their analysis on the basis of their growth in the last five years in the industry which helps investors and major companies decide their investments and make data-driven decisions.
The competitive analysis of the Sports Apparel Market provides details of the goods and services, the company’s target market, the changes in consumer patterns over the forecast period and pricing comparison. Key players by region are profiled from a strategic perspective in the report. Several parameters such as price, services offered, target audience, design of the product and quality are assessed. Major manufacturers in the industry and listed by region, revenue, financial status, portfolio, technological advancements adopted, mergers and acquisitions, joint venture and strategic alliances in detail. New entrants in the market are also listed with an analysis of their growth prospects and future business outlook. Such analysis acts as a guide for stakeholders, investors, market players and followers and new entrants with precise market estimations of the Sports Apparel Market for formulating investment approaches and marketing tactics.
Data is collected using a mixture of both primary and secondary research methods. Surveys, administering questionnaires offline and online, and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, company records, releases of product manufacturers and suppliers in the industry along with paid databases. The report thus provides a comprehensive analysis of the Sports Apparel Market with market gaps and investment recommendations.
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Sports Apparel Market Overview
Sports apparel are clothes, footwear and accessories that are designed keeping in mind the wear and tear caused during physical exercise and other sports. This includes features such as thermal properties, the fabric used, comfort level, sustainability and other aspects depending on the type of sport. This also includes sports gear such as helmets, trainers and other protective gear used in sports.
Sports Apparel Market Dynamics
Fashion brands are entering the Sports Apparel Market with changing consumer preferences. Demand for sportswear that is functional without compromising the aesthetic and style of the clothing has seen an increase. This has increased the completion in the Sports Apparel Market forcing companies to differentiate their products and use fierce marketing strategies. Such trends in the market are contributing to the growth of the Sports Apparel Market.
The Sports Apparel Market is also expected to witness growth on the account of a shift in consumer demand towards a more healthy and sustainable lifestyle. Consumers are opting for gyms and other sports activities to increase productivity and maintain good health. The trend for sustainable products is driving research and innovations in the market, driving the Sports Apparel Market growth.
Sports Apparel Market Regional Insights
During the forecast period, North America is expected to grow at a CAGR of 6.58 percent. This growth is attributed to growing awareness among the population regarding good health. The region is also witnessing a shift towards a healthy lifestyle with people incorporating sports and other athletic activities into their regime.
The Asia-Pacific region is expected to grow at a CAGR of 6.73 percent during the forecast period. The region is expected to be led by growth in India and China. An increase in disposable income and a shift towards a healthier lifestyle are the main factors driving the regional growth of the Sports Apparel Market.
Sports Apparel Market Segmentation
- Top Wear
- Bottom Wear
- Support items
By Distribution Channel:
Sports Apparel Market Key Competitors include:
- Nike Inc.
- Lululemon Athletica Inc.
- New Balance
- Under Armour Inc.
- Columbia Sportswear Company
- Puma Se
- Adidas AG
- Ralph Lauren Corporation
- Anta International Group Holdings Ltd.
- Li Ning Company Limited
- VF Corporation
- Lotto Spa
- Everlast Worldwide, Inc.
- Brooks Sports, Inc.
- Diadora S.p.A.
- Million Special Industries Co. Ltd.
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Key questions answered in the Sports Apparel Market are:
- What are Sports Apparel?
- What is the current growth rate of the Sports Apparel Market?
- What is the growth rate of Sports Apparel Market for the forecast period?
- What is the nature of competition in Sports Apparel industry in developed and developing economies?
- Who are the key players in the Sports Apparel Market?
- Who are the market leaders in Sports Apparel in Europe?
- Who are the market leaders in Sports Apparel in USA and Canada?
- Who are the market leaders in Sports Apparel in India, China, Japan and South Korea?
- What are the factors affecting growth in the Sports Apparel Market?
- Who held the largest market share in Sports Apparel Market?
- What are the factors for the growth of Asia-Pacific region in Sports Apparel Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Product, End-Use, Distribution Channel and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading consumer goods and services research firm, has also published the following reports:
India Sports Apparel Market: Market was valued at USD 579.47 Million in 2021, and it is expected to reach USD 2238.13 Million by 2029, exhibiting a CAGR of 16.2% during the forecast period (2022-2029)
Handbag Market: Market was valued at US$ 49.56 Bn. in 2021. Global Handbag Market size is expected to grow at a CAGR of 6.69 % through the forecast period.
Yoga Clothing Market: Market was valued at US$ 22.71 Bn. in 2021. Global Yoga Clothing Market size is expected to grow at a CAGR of 8.3 % through the forecast period.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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