Rising health consciousness and changing fashion trends are expected to drive the global sports apparel market over the forecast period. Changing lifestyles and consumer tastes have resulted in people opting for durable and comfortable apparel. This shift in trend is presumed to bolster the global sports apparel market. Innovative marketing activities coupled with creative advertising and brand positioning is slated to go long way in developing the overall market over the next six years. Increased functionality of sports apparel and superior properties are presumed to bolster the global market growth. Increased participation in sports due to global media coverage of important sports events is expected to further aid the market. Growing women involvement in sports is expected to result in elevated women sports apparel demand in the near future. Rising disposable income levels, especially in the emerging economies and growing health awareness is projected to positively influence the overall sports apparel market. High sports apparel costs owing to huge investments in R&D may hamper the market growth in the near future. Aging demography in many regions such North America and Europe is expected to hinder the regional market growth. Growing counterfeit sports apparel industry is anticipated to further retard the global market growth. Research on developing newer fabrics with superior properties coupled with apparel with increased functionality promise vast opportunities to the industry participants. Though the sports apparel market for the aging population as well as women is currently small but promises ample opportunities for the industry participants to capture this previously untapped market.
North America dominated the global sports apparel in 2013. The U.S. dominated the North American sports apparel market. Asia Pacific followed North America. China led the demand owing to the rising population growth in the region. Emerging economies as well as developed countries show promising future growth prospects for sports apparel market growth owing to higher health awareness, rising disposable income levels, and changes in lifestyles. Countries such as the U.S., China, Brazil, India, and Japan are expected to witness significant market growth over the forecast period.
Key sports apparel industry participants are Adidas AG, Nike Inc., Amer Sports Corporation, Billabong International Limited, Everlast Worldwide Inc., Blacks Leisure Group Plc, Gap Inc., Columbia Sportswear Company, Old Navy, Banana Republic, Jockey International, Jockey International, Lotto Sport and Under Armour Inc.
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The shortage in supply of raw materials from Chinese manufacturers has resulted in a severe demand-supply gap. The manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to lockdown amid COVID-19. However, the producers are expected to move away from China aiming to reduce the future risks that would affect the business and to reduce the manufacturers' cluster in a single country in order to smoothen the supply chain. The report will account for Covid19 as a key market contributor.
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