Global Sportswear Market to 2031 Analyzing Growth Drivers, Segmentation Trends, and Top Player Strategies

The global sportswear market size was valued at USD 412.82 billion in 2022. It is estimated to reach USD 748.79 billion by 2031, growing at a CAGR of 6.84% during the forecast period (2023–2031). Sportswear encompasses casual apparel designed for comfort and sports participation, including tracksuits, T-shirts, hoodies, shorts, tennis shirts, polo shirts, and swimmers. Made lightweight to avoid restriction and flexible to allow movement, sportswear is essential in activities like jogging, cycling, golf, hiking, tennis, cricket, football, and basketball. It enhances performance, prevents injury, offers comfort, and reduces post-workout muscle soreness.

Sportswear Market Segmentation By Types

The sportswear market is segmented by product, end-user, distribution channel, and activity type. This segmentation helps understand the diverse needs and preferences of consumers, as well as the dynamics driving the market’s growth.

By Product

1. Apparel
   • Apparel dominates the market with a projected CAGR of 7.05%. The rising demand for sportswear apparel is fueled by the global adoption of active lifestyles and increased appearance consciousness. Consumers are increasingly participating in fitness activities and outdoor sports, driving the demand for comfortable and functional apparel. Popular items in this segment include:
     • T-shirts: Essential for various sports and fitness activities, offering breathability and comfort.
     • Leggings: Favored for their flexibility and support during exercises like yoga and gym workouts.
     • Vests: Lightweight and ideal for high-intensity activities, providing ease of movement.
   • The trend towards athleisure, where sportswear is worn in casual settings, further boosts the demand for stylish and versatile apparel.

Footwear and Accessories

1. • This segment includes a variety of sports-specific footwear and accessories that enhance performance and provide protection. Key products include:
     • Running Shoes: Designed for comfort and support during running, featuring advanced cushioning and stability.
     • Training Shoes: Versatile footwear suitable for various indoor and outdoor activities.
     • Sports Accessories: Items such as headbands, wristbands, and athletic socks that complement sportswear and improve performance.

By End-User

1. Men
   • The men’s segment holds the highest sportswear market share and is estimated to grow at a CAGR of 6.79%. The growth is driven by increased participation in fitness and outdoor activities such as group sports (cricket, soccer), cycling, and adventure sports. Men’s sportswear includes:
     • Performance Apparel: Engineered for high-intensity sports, providing moisture-wicking and breathability.
     • Casual Activewear: Combining style with functionality for everyday wear.
2. Women
   • The women’s segment is experiencing significant growth due to rising female participation in sports and fitness activities. There is a growing demand for specialized women’s athletic apparel, including:
     • Yoga Pants: Designed for flexibility and comfort during yoga and Pilates.
     • Sports Bras: Providing support and comfort during high-impact activities.
     • Athleisure Wear: Combining fashion with functionality for a seamless transition from gym to casual settings.
3. Kids
   • The kids’ segment caters to the growing interest of children in sports and physical activities. This segment includes:
     • Sports Kits: Complete outfits for specific sports such as soccer, basketball, and tennis.
     • Comfortable Activewear: Designed to provide comfort and ease of movement for young athletes.

By Distribution Channel

1. Offline
   • The offline channel remains the largest revenue contributor, expected to grow at a CAGR of 6.81%. Despite the temporary decline during the COVID-19 pandemic, offline sales dominate due to:
     • Physical Retail Stores: Offering a hands-on shopping experience where customers can try products before purchasing.
     • Brand Outlets: Exclusive stores that provide a wide range of branded sportswear and personalized services.
2. Online
   • The online channel is rapidly gaining traction due to the convenience of shopping from home and a wider selection of products. Factors contributing to the growth of online sales include:
     • E-commerce Platforms: Offering discounts, easy returns, and a vast product range.
     • Direct-to-Consumer (D2C) Models: Brands selling directly through their websites, providing personalized shopping experiences and exclusive collections.

By Activity Type

1. Swimming
   • The swimming segment includes swimwear designed for performance and comfort in water sports. Products such as swimsuits, goggles, and swim caps are essential for swimmers at all levels.
2. Gym
   • The gym segment caters to fitness enthusiasts engaging in weight training, cardio workouts, and group exercise classes. Key products include moisture-wicking T-shirts, supportive leggings, and gym shoes designed for stability and comfort.
3. Yoga
   • The yoga segment focuses on apparel that offers flexibility and comfort. Popular items include yoga pants, tops with built-in support, and lightweight jackets for layering.
4. Sports
   • The sports segment is the largest contributor to the market, anticipated to exhibit a CAGR of 7.03%. This category includes apparel and footwear designed for specific sports such as soccer, basketball, tennis, and cricket. Features include:
     • Breathable Fabrics: To keep athletes cool and dry.
     • Protective Gear: Ensuring safety during high-impact activities.
     • Sport-Specific Designs: Tailored to the unique requirements of each sport.

 

Competitors’ Strategies to Grow in the Sportswear Market

In the dynamic sportswear industry market share, top competitors employ a variety of strategies to capture market share and drive growth. Here’s a detailed look at how major brands are expanding their presence and achieving success in this competitive industry.

1. Product Innovation

Nike and Adidas are leading the way with cutting-edge product innovation to meet evolving consumer demands.

• Nike

Strategy: Nike continually invests in research and development to introduce new technologies and improve the functionality of their sportswear products.

Growing Stats:

• • Revenue Growth: In FY 2023, Nike reported revenues of $53.8 billion, a 6% increase from the previous year.
  • Product Innovations: Nike introduced the Nike Air Zoom Alphafly NEXT%, which features advanced cushioning and a carbon-fiber plate for enhanced running performance.
  • Technology Investments: Nike has been expanding its Nike Fit app, which uses AI to provide a personalized fit for customers, enhancing the online shopping experience.
• Adidas

Strategy: Adidas focuses on innovative designs and advanced materials for sportswear.

Growing Stats:

• • Revenue Growth: In FY 2023, Adidas achieved revenues of €23.8 billion, marking a 7% year-over-year increase.
  • Product Innovations: The Adidas Ultraboost Light features a new midsole foam for lighter and more comfortable cushioning.
  • Technological Advancements: Adidas has been investing in Futurecraft 4D technology, using 3D printing to create performance footwear with precise cushioning and support.

2. Local Market Adaptation

Nike and Adidas adapt their strategies to cater to regional preferences and cultural nuances.

• Nike

Strategy: Nike adapts its product lines to match local sports preferences and cultural trends.

Growing Stats:

• • Market Expansion: Nike saw a 10% growth in its Asia-Pacific region in FY 2023, driven by localized marketing campaigns and region-specific product lines.
  • Regional Focus: Nike launched Nike Dunk Low “Be True To Your School” collections tailored to various local school communities in the U.S., which contributed to a 15% increase in sneaker sales.
• Adidas

Strategy: Adidas focuses on local sports such as soccer in regions where it is a popular sport.

Growing Stats:

• • Regional Growth: In FY 2023, Adidas’s soccer category grew by 8%, with a notable 12% increase in sales in Latin America.
  • Product Launches: Adidas released the Adidas Predator Edge soccer cleats, a product specifically designed for soccer players in regions with a strong soccer culture.

3. Sustainability Initiatives

Brands are increasingly focusing on eco-friendly products and sustainable practices to appeal to environmentally conscious consumers.

• Advansa and Asia-Pacific Fibers (APF)

Strategy: Advansa has partnered with APF to develop a new fiber derived from recycled plastic bottles for the sportswear market.

Growing Stats:

• • Sustainability Impact: Advansa’s Remotion-branded fiber is expected to reduce environmental impact by 30% compared to conventional fibers. This partnership is anticipated to contribute to a 5% increase in sales of sustainable sportswear products by 2025.
• Puma

Strategy: Puma is committed to sustainability with its Puma Re

collection, made from recycled materials.

Growing Stats:

• • Sustainability Achievements: Puma reported that 73% of its cotton is sourced sustainably, and 100% of their products will be made from recycled or sustainable materials by 2025.
  • Revenue Growth: Puma’s commitment to sustainability helped achieve a 9% increase in overall sales in FY 2023.

4. Partnerships and Collaborations

Strategic partnerships are a key growth strategy for expanding market reach and enhancing product offerings.

• FARFETCH and Reebok

Strategy: FARFETCH’s partnership with Reebok focuses on expanding Reebok’s European business through a new e-commerce platform and luxury collaborations.

Growing Stats:

• • Partnership Impact: The collaboration is expected to increase Reebok’s European sales by 12% over the next two years.
  • E-Commerce Expansion: FARFETCH’s e-commerce platform aims to grow Reebok’s online presence in Europe, contributing to a projected 15% increase in online sales.
• Under Armour and Warner Bros

Strategy: Under Armour’s collaboration with Warner Bros involves launching special edition sportswear collections themed around popular characters and franchises.

Growing Stats:

• • Market Impact: The Under Armour x Warner Bros collaboration led to a 6% increase in brand awareness and a 7% boost in sales for themed collections in FY 2023.

 

Top Players in the Sportswear Market and Their Market Share

The sportswear market is highly competitive, with several prominent players dominating different regions across the globe. This section explores the leading brands in the industry, their market shares, and their strategic approaches in various regions.

Region	Top Players	Market Share (%)	Strategies	Growth Stats
North America	Nike, Under Armour	Nike: 40%, Under Armour: 10%	Innovation, Performance Products, Extensive Distribution	Nike: $53.8 billion (+6%); Under Armour: $5.8 billion (+4%)
Europe	Adidas, Puma	Adidas: 35%, Puma: 10%	Soccer Apparel, Sustainability, Stylish Designs	Adidas: €23.8 billion (+7%); Puma: €8.4 billion (+9%)
Asia-Pacific	Anta, Lululemon	Anta: 8%, Lululemon: 7%	Market Expansion, High-Quality Yoga Apparel	Anta: $3.4 billion (+11%); Lululemon: $7.3 billion (+15%)
Latin America	Nike	Nike: 12%	Extensive Distribution Network	Nike: $2.5 billion (+5%)
Middle East and Africa	Adidas	Adidas: 15%	Brand Recognition, Regional Initiatives	Adidas: $1.2 billion (+6%)

Consumer Demands in the Sportswear Market

The sportswear market is dynamic and influenced by several evolving consumer demands. Understanding these trends is essential for brands to cater to the market effectively. Here’s an in-depth look at the key factors driving consumer preferences in the sportswear industry:

1. Health and Fitness Awareness

Rising Health Consciousness

Consumers are increasingly prioritizing their health and fitness, which drives the demand for high-performance sportswear. This shift is fueled by growing awareness of the benefits of regular exercise and a healthy lifestyle.

• Market Growth: The global sportswear market is expected to grow from USD 412.82 billion in 2022 to USD 748.79 billion by 2031, at a CAGR of 6.84%. This growth reflects the rising participation in fitness activities and the increasing adoption of active lifestyles.
• Example: Nike’s “Move to Zero” campaign promotes sustainability while encouraging an active lifestyle, aligning with the health and fitness trends.

Consumer Preferences:

• Functional Apparel: Consumers seek sportswear that supports their fitness goals, such as running shoes with enhanced cushioning and yoga apparel with flexibility.
• Popular Products: Nike Air Zoom Pegasus for running and Lululemon Align Pants for yoga.

Growth Stat: In 2023, the athletic apparel market grew by 8% due to heightened health and fitness awareness.

2. Comfort and Functionality

Demand for Comfort and Performance

Consumers are looking for sportswear that combines comfort with functional features like sweat absorption and air drag resistance.

• Market Trends: There is a growing preference for sportswear that offers performance-enhancing features, such as moisture-wicking fabrics and breathable materials.
• Example: Adidas’ AEROREADY technology and Under Armour’s HeatGear line cater to these demands with advanced moisture management and comfort features.

Consumer Preferences:

• Performance Apparel: Consumers prefer sportswear that supports their performance, like moisture-wicking shirts and compression leggings.
• Popular Products: Adidas Ultraboost sneakers for comfort and Under Armour HOVR running shoes for performance.

Growth Stat: Comfort-focused product lines contributed to a 10% increase in the sales of performance apparel in 2023.

3. Sustainability

Growing Environmental Concerns

There is a notable shift towards eco-friendly sportswear as consumers become more conscious of environmental issues.

• Market Trends: Sustainability is becoming a significant factor in purchasing decisions, with brands investing in recycled materials and eco-friendly production processes.
• Example: Adidas’ Parley Collection uses recycled ocean plastic, and Patagonia focuses on ethical production.

Consumer Preferences:

• Eco-Friendly Products: Consumers are opting for sustainable sportswear brands and products.
• Popular Products: Adidas Parley Shoes and Patagonia Better Sweater.

Growth Stat: Eco-friendly sportswear sales increased by 12% in 2023 as consumers seek out brands with strong environmental commitments.

5.    Fashion Trends

Blending Fashion with Function

The fashion-forward approach in sportswear is gaining traction, especially among women’s athletic apparel.

• Market Trends: The blending of fashion and sportswear drives demand for stylish and versatile athletic clothing that can transition from the gym to casual outings.
• Example: Lululemon’s Align Collection and Nike’s Yoga Pants combine style with functionality.

Consumer Preferences:

• Stylish Apparel: Consumers seek sportswear that is both fashionable and functional.
• Popular Products: Lululemon Align Pants and Nike Sportswear Essential collection.

Growth Stat: Fashionable sportswear saw a 15% increase in demand in 2023, driven by trends in women’s athletic apparel.

Conclusion

The global sportswear market is poised for significant growth, driven by health consciousness, rising outdoor activity participation, and innovative strategies by leading players. Despite challenges like counterfeit products, opportunities abound with increasing female participation in sports and fitness activities. The future of the sportswear industry looks promising, with substantial growth expected across regions, particularly in North America and Asia-Pacific.

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