The sportswear is also known as activewear or clothing which includes footwear, physical exercise or worn for sport. For most sports, the athletes wear a set of different items of clothing such as pants, shirts and sports shoes. While, in some sports, the defensive gear may require to be worn, such as American footwall body armor or helmet. The sports fabrics are technical materials which beneficial to keep the wearer comfortable while doing any exercise. Sport-specific clothing is worn mostly for the sports and physical exercise, for practical, comfort or safety causes. Furthermore, the key players of this market are investing the huge amount of money for developing the quality of the sportswear which further increase the demand and generate the high amount of revenue more significantly during the forecasted. This also becomes beneficial for acquiring a high amount of market share in the short span of time.
According to the report analysis, ‘Global Sportswear Market Future Outlook’ states that there are several key players which are recently functioning in this market more positively for dominating the market growth and attaining the highest market share around the globe in the near future while developing the quality of product and innovating the attractive product in the market at a reasonable price includes Nike, Adidas, Under Armour, Puma, Columbia, ASICS, Patagonia, Marmot, The North Face, Burton, Volcom, Montbell, Obermeyer and several others. Moreover, the key players of this market are adopting the effective strategies and policies for enhancing the sale of the product by introducing or adopting the effective techniques of producing the product which further, become beneficial for leading the fastest market growth with the handsome amount of share in the coming years more positively.
Global Sportswear Market valued approximately USD 71 billion in 2017 is expected to increase with a healthy growth rate of more than 4.83% over the forecast period of 2018-2025. Whereas, the global market of sportswear is sectored into few segmented which majorly includes product, application, and region. However, the sector of the product is further split into hats, upper garment, skirts, and several others while, on the basis of application, the market is segmented in professional athletic and amateur sport. Nevertheless, with the effective applications, the market is spread across the globe more significantly which majorly includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific region has registered the largest share in the global sportswear market in 2018, owing to the large populace base, rising disposable income coupled with increasing health consciousness across the region. North America is also expected to exhibit higher growth rate / CAGR over the forecast period of 2018-2025, because of the significant increase in growth of the overall economy.
Although, The major fueling factor of the global sportswear market is increasing the disposable income of the individuals, the attractiveness of outdoor recreation, effective growth in a number of yoga participants, the upsurge in fitness club members and the constant requirement in professional sports. The increase of e-commerce which has augmented the online penetration of sportswear products across the globe boom up the growth of sportswear in the market across all over the world. Therefore, in the near future, it is anticipated that the market of sportswear will increase across the globe more positively over the recent few years.
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Ankur Gupta, Head Marketing & Communications