Sports Fitness Clothing Market Size & Share to Surpass $325.77 Billion by 2032 | The Brainy Insights
The global sports fitness clothing market size is anticipated to grow from USD 200 billion in 2022 to USD 325.77 billion in 10 years, at a CAGR of 5%. The market will experience rapid growth due to the increasing demand for sports fitness clothing during the forecast period.
Newark, Oct. 11, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 200 billion in 2022 global sports fitness clothing market will reach USD 325.77 billion by 2032. Over 50% of the US population is expected to be obese by 2030, according to studies done by numerous healthcare organizations in the US and the UK. In the UK, about 54% of people are overweight. Given that, more and more people are going to the gym due to the growing awareness about leading an active lifestyle for a healthy body and mind. Through entertaining social media posts, reels, and tales, several social media celebrities, athletes, and fitness influencers are motivating people to start exercising. People have also started exercising due to the increased danger of cardiovascular illnesses and other acute or chronic disorders. For example, around 300 million individuals worldwide do yoga. Yoga will become more popular as people become more aware of its many physical and mental health advantages. Thus, the industry will profit from the growing number of people who pursue an active lifestyle through exercise, sports, and yoga.
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Key Insight of the Global Sports Fitness Clothing Market
Asia Pacific is expected to rise the fastest during the forecast period.
The need for apparel is driven by the fact that India and China comprise a sizeable share of the world’s population. Additionally, the region’s young population will fuel the demand for athletic wear as more people adopt an active lifestyle to stay healthy in the region’s increasingly stressful workplaces. The market will also benefit from major firms with a long distribution chain that reaches tier-1 and tier-2 cities. Recently, domestic brands have also become more popular, and the growth of social media, particularly fitness and fashion influencers, is boosting sales for these firms.
In 2022, the men segment dominated the market with the largest market share of 53% and market revenue of 106 billion.
The end-user segment is divided into men, women and children. In 2022, the men segment dominated the market with the largest market share of 53% and market revenue of 106 billion.
In 2022, the offline segment dominated the market with the largest market share of 56% and revenue of 112 billion.
The distribution channel segment is divided into online and offline. In 2022, the offline segment dominated the market with the largest market share of 56% and revenue of 112 billion.
Advancement in market
September 2023 – Ripken Baseball has a multiyear agreement with Baltimore-based Under Armour to be the company’s sole apparel supplier for its facilities, competitions, and multisport events. Along with naming rights to The Ripken Experience in Aberdeen and serving as the presenting sponsor of All-Ripken games, Under Armour will be present on all of Ripken’s properties. Cal Ripken Jr. and Under Armour previously collaborated in 2009 when they announced a five-year agreement to outfit the MiLB Aberdeen IronBirds, ten domestic teams competing in the Cal Ripken World Series, and title sponsor 25 Ripken youth baseball tournaments.
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Driver: increasing adoption of an active lifestyle.
The rising prevalence of lifestyle diseases has changed consumer attitudes toward regular, healthful exercise for promoting longevity and overall physical and mental health. Influencers in the fitness industry on social media are essential in promoting an active lifestyle, regular exercise, yoga, outdoor sports, and other fitness pursuits. A contributing factor in the increased popularity of fitness or an active lifestyle is the opening of sports clubs, fitness centres, gyms, and yoga studios in tier-2 and tier-3 cities. The market’s expansion is also being aided by the emergence of readily available, reasonably priced clothes from various companies that offer buyers a wide range of options. The growing popularity of internet purchasing has significantly boosted sports apparel sales. Given the comfortable yet fashionable appearance these clothes enable, the consumer market has expanded with the development of athleisure, an amalgam of sports and leisure wear. Athleisure is becoming more common among fashion icons, boosting demand for these clothing items and the market’s expansion.
Restraints: fluctuating costs for raw materials.
Incidents affecting the world’s health or global geopolitical unpredictability cause supply chain disruptions. Uncertainties impact supply shortages and cost increases in the production, transportation, and processing industries. As a result, fluctuating raw material prices may adversely affect the market’s expansion.
Opportunities: the development of cutting-edge garment materials.
Most sports, especially outdoor sports, require physically taxing activities; thus, it’s important to dress appropriately to enhance performance, comfort, and functionality. Clothing with anti-microbial quick-drying capabilities is only one example of revolutionary clothing made possible by ongoing research and development. Other examples of innovation in sports fitness gear include textiles that wick away moisture and have temperature control technologies. Compression technology is another example of technology that has grown significantly in favour of the fitness sector. Similar breakthroughs that increase athletes’ performance have fueled more research and development to advance these technologies. Therefore, the market’s growth will benefit from the growing sports and fitness apparel advances.
Challenge: Highly fragmented market
With the increasing demand for sports fitness clothing, given the rising adoption of an active lifestyle, there is an increase in the number of brands offering these products. There are big players with worldwide presence, along with the rising introduction of new home-grown brands. Each industry player’s market space is shrinking, driving up their sales and marketing budgets. Given the increasing number of market players, the shrinking market share will challenge the market’s growth.
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Some of the major players operating in the global sports fitness clothing market are:
• Adidas AG
• Columbia Sportswear Company
• Fila Holdings Corp.
• Iconix International
• New Balance Athletics, Inc.
• Nike, Inc.
• Puma SE
• Ralph Lauren Corporation
• Under Armour, Inc.
Key Segments covered in the market:
By End User
By Distribution Channel
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.
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