Global Sports Apparel Market | Business Strategy , Growth And Forecast 2027

Sports Apparel Market Overview:

The Sports Apparel market competitive landscape provides information about rivals. Corporate overview, financials, revenue produced, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, and application domination are all contained in the details. The data points presented above are only relevant to the firms’ emphasis on the Sports Apparel market.

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Global Sports Apparel Market was valued at USD 171.25 Billion in 2021, and it is expected to reach USD 287.70 Billion by 2029, exhibiting a CAGR of 6.7% during the forecast period (2022-2029)

Market Scope:

This Sports Apparel market report discusses new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, opportunities in terms of emerging revenue streams, changes in market regulations, strategic market growth analysis, market size, segmented market growth, application niches, and dominance, product approvals, product launches, geographic expansion For more information on the Sports Apparel market, please contact Maximize Market Research for an Analyst Brief; our experts will assist you in making an informed market choice to achieve market growth.

Drivers:

The new standard and a battleground is athleisure. Athleisure was a huge trend prior to COVID-19, but the pandemic has helped to further blur the lines between work and play, and there is a growing acceptance of casual attire in previously more formal settings. Sports goods companies must rely on their innovative capabilities and market knowledge to compete in this more crowded market as fashion brands quickly enter this space. Athletic products need to have a clear value proposition, emphasise material and design innovation, and leverage sports DNA because the athleisure market is extremely competitive. The physical activity gap presents an opportunity to increase everyone’s access to healthy lifestyles.

Segmentation:

The market is divided into Top Wear, Bottom Wear, and Support items based on Product Type. The market share leader and projected to reach USD 76.2 billion in 2021 is the Top Wear segment. Throughout the forecast period, this market segment is anticipated to expand at a CAGR of 5.2%. A major factor influencing market demand is consumers’ growing preference for top wear sports apparel over other top wears. T-shirts, sweatshirts, sports vests, sports hoodies, and other items make up the top wear category. With 34.7% of global sales in the Top Wear segment coming from the United States in 2021, this country was the segment’s largest regional market.

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Key Players:  The following are the key players of the Sports Apparel market-

• Nike Inc.
• Fila
• Lululemon Athletica Inc.
• New Balance
• Under Armour Inc.
• Columbia Sportswear Company
• Puma Se
• Adidas AG
• Umbro
• Ralph Lauren Corporation
• Anta International Group Holdings Ltd.
• Li Ning Company Limited
• VF Corporation
• Jockey
• Lotto Spa

Regional Analysis:

The region portion of the research also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends. Data points such as downstream and upstream value chain analysis, technological trends, porter’s five forces analysis, and case studies are only a few of the indicators utilized to anticipate the market scenario for different nations.

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COVID-19 Impact Analysis on Sports Apparel Market: The report also discusses how COVID-19 affected the Sports Apparel market. The primary goal of this study is to assist the user in understanding the market in terms of definition, segmentation, market potential, significant trends, and the problems that the industry is experiencing across key regions. The research details the overall impact of COVID-19 on the Sports Apparel Market by providing a micro and macroeconomic analysis. The precise study focuses on market share and size, which clearly depicts the impact that the pandemic has had and is anticipated to have on the global Sports Apparel Market in the future years.

Key Questions Answered in the Sports Apparel Market Report are:

  • What will be the CAGR of the Sports Apparel market during the forecast period (2021-2027)?
  • Which segment emerged as the leading segment in the Sports Apparel market?
  • Which are the prominent players in the Sports Apparel market?
  • What key trends are likely to emerge in the Sports Apparel market in the forecast period?
  • What will be the Sports Apparel market size by 2027?
  • Which company held the largest share in the Sports Apparel market in 2020?

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