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

Report Overview

The global sportswear market size to be valued at USD 479.63 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 10.4% during the forecast period. 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.

Sportswear Market Trends

The athleisure trend is a bright spot in the sportswear industry, accounting for most of the latest sports fashion trends. The young customers are driving the trend with their desire to remain healthy and fit. Athletic stores such as Nike, Adidas, and Puma are traditionally associated with sports retail, the approach is adopted by luxury and high-street businesses. Zara, Asos, H&M, and Topshop, for example, have developed lines with a separate section for their own athleisure brand. Consumers are willing to pay additional for sportswear with improved features like moisture management, temperature control, and other performance-raising features that prevent pain and potential harm.

According to the BBC, the gap between men and women participating at sports in England has narrowed to 1.55 million. With more women indulging in athletic activities the gap is likely to narrow even further, boosting the market growth. India and China are attractive regions for market growth.

The growth of the counterfeit market coupled with different online channels for their distribution around the world has been the biggest restraining factor for the growth of the industry. As the price of counterfeit products is usually a fraction of the cost of the original product a lot of people tend to buy these products. According to Forbes, counterfeiting was one of the world's most valuable crimes in 2018. Counterfeit and pirated items generate $1.7 trillion in annual sales, which is more than narcotics and human trafficking combined. By 2022, it is predicted to be worth $2.8 trillion and destroy at least 5.4 million jobs.

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.

Key Companies & 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.

Recent Developments

• In February 2022, Under Armour, Inc. stated that it has approved the repurchase of USD 500 million of outstanding class C common shares of Under Armour effective immediately. The company said the share buyback program provides an exceptional opportunity to utilize cash and increase the shareholder value while maintaining the financial flexibility required to continue investing in a significant higher growth areas.

• In June 2022, Puma launched a new mobile shopping application in India to enhance digital offerings in the country. The German brand said that it launched the mobile shopping application for quick access to its products.

• In May 2021, Adidas has announced that it has teamed up with Allbirds. It is a personal best for both brands, weighing 2.94kg CO2e, and is the outcome of a shared goal to create a high-performance shoe with no carbon footprint.

Sportswear Market Report Scope

Global Sportswear Market Segmentation

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