Global Sports Apparel Market is expected to generate revenue of $184.6 billion by 2020, growing at a CAGR of 4.3% during the forecast period, 2015-2020, according to new research published by Allied Market Research. Growing health awareness, increasing disposable income and a surge in female participation in sports are the major factors driving the growth of the sports apparels market.
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The global sports apparel market is categorized, based on end users, into apparels for men, women and kids. The men segment dominates the sports apparel market, constituting around 52% of the total market revenue. The women segment is the second biggest contributor, expected to grow at a relatively higher CAGR of 5.7% during the forecast period, on account of the growing interest and participation of women in different sports activities.
Based on the mode of sale; retail segment accounted for significant market share in 2014. Some of the prominent companies have focused on opening retail stores in the emerging economies to expand their geographical presence and increase their customer base. The retail segment comprises of supermarkets, brand outlets and discount stores. Online platforms, especially e-commerce sites, have exhibited a robust growth across the globe, owing to the ease of accessibility and availability of a wide range of products at a competitive price. The online mode of sale segment is expected grow at a CAGR of 9.5% during the forecast period.
North America stands as the market leader in the sports apparel retail stores market however, Asia-Pacific is expected to grow at the highest growth rate. The future growth is expected to come from the online mode of sale which has witnessed a dynamic growth in the past few years owing to increased popularity and penetration of internet and availability of a wide range of products at a discounted price.
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Key Findings of Sports Apparel Market:
- The sports apparel market is expected to exhibit a significant growth during the forecast period (2015-2020) due to increasing disposable income, changing lifestyle and growing health awareness among consumers
- Men sports apparel is the highest revenue-generating segment in the sports apparel market. The segment would continue to dominate the market throughout the analysis period
- The retail stores sports apparel segment would grow at a CAGR of 3.1% during the forecast period
- Asia Pacific would emerge as the largest sports apparel market by 2018
Product launches, acquisition and partnership have been the key growth strategies adopted by established players in the market to increase their market share and expand their customer base. The key companies profiled in the report include, Adidas AG, Nike, Inc., Puma SE, Under Armour, Inc., Ralph Lauren Corporation, Umbro Ltd., Fila, Inc., Lululemon Athletica Incorporation, New Balance Athletic Shoe, Inc. and Columbia Sportswear Company.
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