Sportswear Market Size, Share & Trends Analysis Report By Product (Shoes, Clothes), By End User (Men, Women, Kids), By Distribution Channel (Online, Retail), By Region, And Segment Forecasts, 2019 - 2025

Industry Insights

The global sportswear market size was estimated at USD 239.78 billion in 2018 and is expected to register a CAGR of 10.4% from 2019 to 2025. Increasing awareness about lading a healthy lifestyle and about the health benefits of fitness activities, such as swimming, yoga, running, and aerobics are expected to drive the market. Increasing popularity of sports events, such as Soccer World Cup, Olympic Games, and Cricket World Cup, is also boosting the growth of this market.

Rising cases of work-related health issues, such as stress and obesity, are pushing more people to follow any sport and fitness activity, which is further increasing the demand for trendy and comfortable sportswear. In addition, growing popularity of international sportswear brands is also contributing to the product demand.

According to BBC, the difference between number of men and women playing sport in England has reduced to 1.55 million. The difference is further expected to reduce with more women participating in sports activities, thereby augmenting market growth. India and China are the lucrative regions for the growth of this market.

Rising disposable income levels, improved living standards, and low manufacturing costs are the prime factors accelerating the market growth in these countries. Moreover, India has a good share in the textile industry, which is also likely to propel market development.

Product Insights

The shoes product segment held the largest market share in 2018 and will expand further due to rising product demand. Sports footwear includes shoes for tennis, football, basketball, and other sports along with casual shoes inspired by sports shoes. Companies like Nike are using high-end technology in the production of such footwear, such as using foam blown polyurethane, which gives extra cushioning to the shoes.

The clothing segment is expected to register the highest CAGR of 10.7% from 2019 to 2025. Technological advancements such as, fast-drying materials and t-shirts that can track heart rate, are the key factors driving the segment. For instance, Nike’s new collection of tights are made of fabric, which manages body heat and improves circulation.

End-User Insights

On the basis of end-user, the sportswear market is segmented into men, women, and kids. Men segment had the largest market share of more than 50% in 2018. Growing popularity of sports, such as basketball, cricket, and soccer, is the leading factor driving the segment. The market share for female and kids segments is expected to increase in the coming years. The women end user segment is projected to register the maximum CAGR of 10.7% from 2019 to 2025.

Distribution Channel Insights

Retail segment held the largest market share in 2018 due to high number of retail outlets of sportswear. The world’s leading supplier of athletic shoes and apparel, Nike, has 1,182 retail stores across the globe. Retail stores have a wide variety of products and brands to choose. This is likely to drive the market further. Moreover, such stores offer assistance from sales executives, which is also contributing to the segment growth.

On the other hand, online channel is expected to be the fastest-growing segment with a CAGR of 10.9% from 2019 to 2025. This growth can be attributed to the increasing number of smartphones and internet users, fast-paced lifestyle, and growing popularity of e-commerce. Moreover, easy exchange and refund options offered by online portals are contributing to the segment expansion.

Regional Insights

North America was the largest regional market in 2018 and is expected to maintain dominance over the forecast period due to the presence of key industry participants, such as Nike and Adidas, which have the largest share in North America market in terms of sales of sports apparel. Popularity of sports, such as basketball and soccer, along with rising health consciousness is projected to boost the market growth. Asia Pacific is estimated to register the fastest CAGR of 11.0% from 2019 to 2025. Improved standards of living, low costs of manufacturing, and increasing disposable income levels in developing countries are the key factors propelling the region’s growth.

Sportswear Market Share Insights

Some of the leading companies in the market are Nike, Inc., Adidas AG; LI-NING Company Ltd; Umbro Ltd.; Puma SE, Inc.; Fila, Inc.; Lululemon Athletica Inc.; Under Armour; Columbia Sportswear Company; and Anta Sports Products Ltd., Inc. Strategic initiatives undertaken by companies to gain competitive advantage in the market include mergers and acquisition and new product development and launches. For instance, Nike, Inc. signed an agreement with Tishman Spever for its headquarters to be established in China.

Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global sportswear market report on the basis of product, distribution channel, end-user, and region:

• Product Outlook (Revenue, USD Billion, 2015 - 2025)

  • Shoes

  • Clothes

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)

  • Online

  • Retail

• End-User Outlook (Revenue, USD Billion, 2015 - 2025)

  • Men

  • Women

  • Kids

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • China

    • India

  • Central & South America

  • Middle East & Africa