Sportswear Market

Market Overview

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 is informal apparel designed for comfort and sports participation. Sportswear is casual apparel made for comfort and participation in sports. Common sportswear includes tracksuits, T-shirts, hoodies, shorts, tennis shirts, polo shirts, and swimmers, generally worn during physical activity. Sportswear is often made lightweight to prevent the wearer from feeling restricted. For various types of exercise, like cycling, the finest athletic clothing should not be overly bulky or generate drag.

On the other hand, sportswear must be flexible enough to allow for movement. Several sports, like karate, have keikogi as their official uniform that must be worn. Some physically demanding sports, like fencing, American football, or ice hockey, call for special protective equipment. Sportswear is frequently worn while jogging, biking, playing golf, hiking, tennis, cricket, football, and basketball. It enhances athletes' performance compared to non-specialized sportswear, prevents injury while exercising, offers more comfort, lessens delayed onset muscle soreness (DOMS), promotes the wearer's health, and lowers post-workout muscular cramps.

Market Dynamics

Global Market Drivers

Expanding Population of Health-conscious Individuals

Health is becoming a priority for a significant section of the global population. Therefore, people worldwide are increasingly engaging in various fitness activities. Many individuals are enrolling in fitness facilities, including gyms, yoga studios, Zumba classes, and similar establishments, to maintain their overall health and physical well-being. The number of people practicing yoga and other related exercises has increased due to the aging population, resulting from longer life expectancies. This is expected to increase the demand for yoga apparel in the population, thereby contributing to the overall the sportswear market growth.

Furthermore, the rising medical expenses associated with long-term treatments for chronic conditions and lifestyle diseases encourage individuals to engage in various physical activities. Thus, people worldwide actively engage in various fitness activities to prevent or reduce their risk of contracting various diseases, which is driving up demand for sportswear.

Growing Popularity of Outdoor Activities

The prevalence of stress among individuals worldwide is mainly attributable to personal or professional reasons. Hence, many people are turning to physical activities that help them reduce their stress and improve their mental well-being. Outdoor recreational activities like hiking, mountain biking, skiing, trekking, camping, and cycling are becoming increasingly popular among individuals. For instance, in 2019, more than half of the US population engaged in at least one outdoor activity. Thus, the increasing participation in outdoor activities is accelerating the demand for outdoor sportswear, which will drive the global sportswear market growth.

Global Market Restraint

Easy Availability of Counterfeit Products

The proliferation of counterfeit products poses an increasing risk as the global sportswear market experiences significant growth. Nowadays, many vendors are selling duplicate copies of well-known sportswear brands. Although these counterfeit products look like their original branded counterparts, they lack quality.

Many customers buy these copies knowingly or unknowingly, leading to the exploitation of customers. In 2019, more than 40% of people purchased counterfeit sportswear online. These counterfeit sportswear brands have expanded their presence across all sales channels and are available online and offline. For instance, in 2019, eBay and Amazon dominated the sportswear market regarding counterfeit product sales and accounted for a share of 26% and 23%, respectively.

Global Market Opportunities

Increasing Participation of Women in Sports and Fitness Activities 

Female participation in various sports events is expected to rise as women's interest in sports increases worldwide. The UK government is also implementing several initiatives, like creating awareness of the benefits of sports and fitness activities by organizing women's sports conferences. The country is also introducing various policies and programs and launching various campaigns to encourage female participation in sports.

For instance, in 2015, the UK government launched the "Inspiring Women in Sport" campaign, which encouraged women in the sports sector to visit local schools and spread awareness regarding the benefits of playing sports. Likewise, women are selected to represent the national teams at sports events, such as World Cups, Olympics, etc. The increasing population of women who visit fitness centers like gyms and yoga studios and take Zumba classes will also trigger the demand for activewear and create opportunities for the global sportswear market to grow.

Regional Analysis

The global sportswear market is bifurcated based on region into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global sportswear market shareholder and is anticipated to exhibit a CAGR of 7.08% during the forecast period. North America is the largest market for sportswear due to the kind of lifestyle that the population in this region enjoys and the kind of culture they have. Factors like growing awareness of the benefits of a healthy lifestyle, increasing internet penetration, and rising outdoor participation drive North America's sportswear market. The total number of fitness centers/clubs is between 1,02,000-1,02,500, making it the biggest market for sportswear. A majority of individuals residing in North America, specifically over 55%, engage in regular physical exercise every week. The percentage of the population enrolled in gyms, yoga studios, and other fitness centers is also very high.

In addition, a significant majority of sports footwear, exceeding 85%, and sports apparel, amounting to 74%, are utilized for non-sporting activities. Individuals are opting to replace their denim trousers with activewear that offers enhanced comfort. The high internet penetration in North America allows small manufacturers to offer their products online. Online sportswear sales increased in 2020, which was good news for brands like Nike, Adidas, and others. Such factors drive the regional market.

Asia-Pacific is estimated to exhibit a CAGR of 8.39% over the forecast period. Asia-Pacific is the fastest-growing market for sportswear due to the increasing number of people joining gyms, greater health concerns, and increased consciousness of fitness in the region. The major countries driving the market include China, India, and Japan. International vendors are expected to invest in the region due to opportunities in the market with innovations and lower manufacturing costs. The Asia-Pacific region is expected to grow exponentially in the sportswear market year-on-year. It is anticipated that China will experience an increase in the prevalence of boutique fitness studios, which are characterized as small-scale fitness facilities that prioritize group exercise activities. There are many opportunities to expand fitness studios within tier 3 and tier 4 cities. The Asian population has started prioritizing fitness, bringing more opportunities to fitness centers, resulting in higher demand for sportswear.

Germany and the UK are the top markets in terms of fitness, even though the sportswear market in Europe is not as large as it is in North America and Asia-Pacific but is expected to experience a surge in demand. Therefore, a significant demand for sportswear comes from these countries. Germany has the highest participation in gyms among all the countries in Europe. It has the highest number of gyms, making it the market with the highest demand for gym wear. In addition, the region has rising participation in cycling, soccer, and basketball. The government is also taking the initiative to encourage participation in sports by organizing various sports events like the Olympics, FIFA, and others, thereby leading to a surge in demand for sportswear.

In Latin America, the sportswear market is comparatively small, attributable to the population's low adoption of sportswear as casual wear and the lack of participation in fitness activities, sports, and others. People generally prefer wearing sportswear when involved in sports or fitness activities. Brazil dominated the Latin American market for sportswear due to the high involvement of people in workouts compared to other countries. Brazil is the second-largest market in terms of the total number of gyms. Out of the total population, only around 4.26% have gym memberships. As a result, the demand for gym wear remains low in the country, reducing the sportswear market.

The Middle East and African populations have not been active in sports and fitness activities. Still, the major participation comes from countries such as Saudi Arabia, South Africa, and UAE making them the leading market for sportswear in the region.

Segmental Analysis

The global sportswear market is segmented by product, end-user, distribution channel, and activity type.

Based on product, the global market is bifurcated into apparel and footwear and accessories. 

The apparel segment dominates the global market and is projected to exhibit a CAGR of 7.05% over the forecast period. The demand for sportswear apparel is continuously rising and is expected to grow during the forecast period due to the adoption of an active and healthy lifestyle by populations worldwide. People worldwide are also becoming increasingly conscious of their appearance. The changing mindset of people is encouraging them to join fitness clubs, gyms, yoga studios, and Zumba classes, which will accelerate the demand for sportswear. In addition, the demand for men's sports apparel is comparatively higher than for female sportswear due to the lower female participation in sports and fitness activities globally. T-shirts, leggings, and vests are among the most demanded sports apparel globally.

Additionally, there is a rising demand for sportswear with different functionalities and features. For instance, people participating in bicycle races need sports apparel that offers air drag resistance. The demand for sports apparel also depends on the weather conditions for a particular sport. For example, warmer regions have a high demand for sports apparel that absorbs sweat. Therefore, the demand for sweat-absorbing sportswear will increase from gym-goers, yoga practitioners, and sports players in warmer regions.

Based on end-user, the global market is segmented into men, women, and kids. 

The men's segment owns the highest sportswear market share and is estimated to exhibit a CAGR of 6.79% during the forecast period. This growth is attributable to the surging awareness and increased fitness-conscious people. The number of men participating in various fitness and outdoor activities such as group sports (cricket, soccer, and others), cycling, adventurous activities, and others has increased over the years. The considerable gap between the male and female participation rates in outdoor activities is attributable to the social and cultural stigma prevalent in certain countries. These factors have contributed to the larger share of men in the global sportswear market.

Based on distribution channels, the global market is divided into offline and online channels. 

The offline channel segment is the largest revenue contributor to the market and is expected to exhibit a CAGR of 6.81% over the forecast period. The share of offline sportswear sales has always been relatively higher than online sales. Due to the lockdown restrictions imposed by several governments worldwide, all the physical outlets were temporarily shut down. Due to the decline in revenue, many brands have entirely shut down their stores in some cities. Hence, the COVID-19 pandemic adversely affected the offline sales of sportswear. However, the market is expected to witness growth in the future as soon as everything gets normal.

Based on activity type, the global market is divided into swimming, gym, yoga, and sports. 

The sports segment is the most significant contributor to the market and is anticipated to exhibit a CAGR of 7.03% over the forecast period. In 2020, the demand for sportswear was constrained due to quarantine measures and lockdowns implemented worldwide. All the sports events and tournaments, such as IPL, Tokyo 2020, Wimbledon Championship, etc., were canceled or postponed. Moreover, people stopped playing sports and engaging in other physical activities, adversely impacting the sales of sports apparel and footwear. In 2019, Adidas planned to focus on various categories of sports on the local level. In the event that consumers within a specific nation exhibit a preference for soccer, the vendor will direct their attention toward the production and sale of soccer sportswear. Adidas adopted this strategy to be the best sports brand globally.

Recent Developments

• May 2023- The luxury fashion platform FARFETCH launched its European partnership with the prominent sportswear brand Reebok. FARFETCH will administer Reebok's European business, re-platform its e-commerce sites, and expand the brand's luxury collaboration offerings as part of the agreement.
• July 2023- Advansa partnered with Asia-Pacific Fibers (APF) to develop a new fiber derived from recycled plastic bottles for the sports and activewear market. The Remotion-branded fiber is said to be biodegradable, disintegrating in marine and landfill environments.