Sports Apparel and Footwear Market Size, Share, Growth, and Industry Analysis, By Product Type (Sports Footwear, Sports Apparel), By Application (Amateur Athletics, Professional Sports Footwear, Street style, Others) and Regional Forecast To 2032

Sports Apparel and Footwear Market Report Overview

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The global sports apparel and footwear market size expanded rapidly in 2023 & the market is expected to generate substantial revenue by 2032, a robust CAGR during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Sports apparel are a piece of clothing wore during any sports activity. Footwear used while playing sports or exercising are known as sports footwear. Due to an increase in the population of wealthy people, sports gear has been growing in popularity in emerging markets. Additionally, rising consumer health consciousness and increased participation in fitness activities like yoga, swimming, and aerobics are driving market expansion.

In addition, the growth of the sports apparel market is fueled by an increase in the engagement of women in sports and fitness activities. Aggressive marketing and celebrity endorsements have also paved the road for the sports apparel industry's expansion. The primary restraints on this market, however, are the varying costs of the raw materials necessary to make such apparel and the ease with which counterfeit goods can be found. Contrarily, the desire for stylish and fashionable sportswear is rising, and children are becoming fonder of sporting goods.

 COVID-19 Impact: Market Experienced Mixed Impact owing to Pandemic-related Disruptions

 The COVID-19 pandemic has had a mixed impact on the sports apparel and footwear market. On the one hand, the closure of gyms and fitness centers has decreased the demand for sports apparel and footwear. However, on the other hand, the growing trend of home workouts and outdoor activities during the pandemic has resulted in an increase in demand for comfortable and functional sportswear.

Latest Trends

"Need for Ecofriendly and Sustainable Materials to Foster Market Growth"

The global sports apparel and footwear market is witnessing some latest trends, including the growing popularity of eco-friendly and sustainable materials in sportswear, the increasing use of smart fabrics and wearable technology in sports apparel and footwear, and the growing trend of collaborations and limited edition collections by leading brands. Moreover, there is a rising demand for customization and personalization of sportswear products, along with the growing trend of social media influence on consumer purchasing decisions.

Sports Apparel and Footwear Market Segmentation

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• By Type:

Based on type, the market can be segmented into sports footwear, sports apparel, and others. The sports footwear segment is projected to grow substantially by 2031.

• By Application:

Based on application, the market can be segmented into amateur athletics, professional sports footwear, streetstyle, others. The amateur athletics segment is likely to hold major market share through 2031.

Driving Factors

"Growing Participation in Sports and Fitness Activities"

 The increasing participation in sports and fitness activities is driving the growth of the market. The rising awareness of the benefits of an active lifestyle, along with the growing trend of athleisure wear, is boosting the demand for sports apparel and footwear.

"Rising Demand for Comfortable and Functional Sportswear"

 The rising demand for comfortable and functional sportswear is another factor driving the sports apparel and footwear market growth. Consumers are increasingly looking for sportswear that offers comfort, functionality, and style, thereby driving market growth.

Restraining Factors

" Availability of Counterfeit Products to Restrict Market Growth"

 The availability of counterfeit products in the market is a significant factor restraining the market growth. The presence of fake products that resemble popular brands and designs has led to a decline in sales for leading brands, thereby posing a challenge to the market growth.

Sports Apparel and Footwear Market Regional Insights

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"North America to dominate the global market due to the rising participation of the population in sports and fitness activity"

North America is expected to dominate the sports apparel and footwear market, owing to the increasing participation in sports and fitness activities and the growing trend of athleisure wear. Europe and Asia Pacific are also expected to witness significant growth, owing to the increasing adoption of sports and fitness activities and the rising demand for comfortable and functional sportswear.

Key Industry Players

"Key companies are adopting innovative strategies to grow in the market "

In the global market, major players are adopting innovative strategies to influence market development. These players are using various tactics to stay ahead of the competition, such as expanding their product portfolio through new product launches, acquisitions, and mergers. Investment in research and development is another key strategy being used by market players to sustain their position and value in the market. Furthermore, key players' possession of extensive market shares and collaboration with other companies are stimulating the growth of the global sports apparel and footwear market.

LIST OF TOP SPORTS APPAREL AND FOOTWEAR COMPANIES

• Adidas
• Nike
• New Balance
• Under Armour
• Asics
• Mizuno
• Puma
• Li Ning
• Ecco
• Kswiss
• Skecher
• Anta
• 361°
• Peak
• China Dongxiang
• Xtep
• Guirenniao
• Kappa

Report Coverage

This report offers a comprehensive analysis of the global market, taking into account various factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. The report profiles key industry players and offers a detailed analysis of their strategies, partnerships, and collaborations. The analysis is subject to alteration if the key players and probable analysis of market dynamics change.

This report examines an understanding of the global aerofoil market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macroeconomic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.