SAN FRANCISCO, Aug. 13, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled «Sports & Fitness Clothing – Global Market Trajectory & Analytics». The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 19; Released: January 2021
Executive Pool: 19276
Companies: 556 – Players covered include Adidas AG; Reebok International Limited; Anta Sports Products Limited; ASICS Corporation; Columbia Sportswear Company; Elite Sportswear, LP.; Fila; Gap, Inc.; Hanesbrands Inc.; Hosa International Ltd.; Kappa; Li Ning Company Limited; lululemon athletica; Mizuno USA, Inc.; NIKE, Inc.; Patagonia, Inc.; Peak Sport Products Co., Ltd.; prAna; Puma SE; TerraFrog Clothing Corporation; Under Armour, Inc.; VF Corporation and Others.
Coverage: All major geographies and key segments
Segments: Product Segment (Sports Apparel, Fitness Clothing); Type (Top Wear, Bottom Wear, Support Items); Distribution Channel (Offline, Online)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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Global Sports & Fitness Clothing Market to Reach $221.3 Billion by 2026
Sports and athletic clothing refer to highly functional apparel designed for enhancing performance. The clothing offers protection and support to the body, while playing. Different sports place stress on different body parts. And also, the conditions in which the sports are played are different. For these reasons, materials used in athletic wear greatly differ. There are also differences in the design or fit for matching the needs of different sports. The market for athletic or sports clothing is therefore categorized as high performance apparel meant for professional sports persons, athleisure products and consumer sportswear. Yoga pants, swimwear, baseball caps and football jerseys also come under athletic clothing.
Sports apparel or sports clothing comprises sports or sports-inspired apparel that is worn for sports or casual or leisure activities. Sports apparel used for practice or sports by sportsmen or the clothing used mainly for sport use. For instance, a performance T-shirt designed for jogging/running and used for the same purpose. However, the segment may include use of a cotton T-shirt for running although not designed or made for the purpose.
Clothing inspired from sports but may/may not be used for sports. The segment includes apparel made for sports and is used for the purpose, such as supporters of a sport event wearing replicas of team jerseys. The segment can also include shirts purchased for use in sports but eventually end up being used for casual or leisure purposes. Sports Licensed Apparel category covers various terms such as entertainment, sports, tourism, company brands, etc. Apparel carrying the name or trademark of an Olympic, professional, college or school team or sport, a sports star or a sports action is classified under licensed apparel. Consumers may or may not use sports licensed apparel for active sport activities.
Fitness clothing refers to clothing used during fitness activities such as aerobics, gym, yoga and running among others. The market comprises clothing such as tops, shorts and undergarments that are used for the purpose of achieving a comfortable exercising session. The segment also includes apparel with long sleeves that provide protection from UV rays during cold weathers and mesh fabric that deliver substantial ventilation. Knit tee shirts that aid in moisture absorption are more comfortable during hot days allowing the user to keep the body cool, dry and comfortable. The softer fabrics used in the apparel makes them suitable for use in a wide range of applications such as running, workouts, walking and running. Fitness clothing may include the use of micro nylon material, such as in shorts, which renders water and wind resistant capabilities to the apparel for optimum comfort during fitness. Pants for use during fitness work come in wide range of varieties such as power liner shorts (9-inch), cotton ankle pants, supplex ankle pants, double dry shorts, fitness ankle tights and low rise body balance flood pants.
Amid the COVID-19 crisis, the global market for Sports & Fitness Clothing estimated at US$172 Billion in the year 2020, is projected to reach a revised size of US$221.3 Billion by 2026, growing at a CAGR of 4.4% over the analysis period. Sports Apparel, one of the segments analyzed in the report, is projected to record 4.5% CAGR and reach US$193.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Fitness Clothing segment is readjusted to a revised 3.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $63 Billion in 2021, While China is Forecast to Reach $27 Billion by 2026
The Sports & Fitness Clothing market in the U.S. is estimated at US$63 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$27 Billion by the year 2026 trailing a CAGR of 7.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
The ongoing health and wellness trend continues to be the primary driver of the global sports & fitness apparel market, prompting consumers to spend on these apparels, mainly sportswear and active wear products. Consumer focus on healthy regime and rising level of health-consciousness are making people to get selective regarding apparels for gym sessions, personal training and casual work. Increasing engagement in sports and adventurous activities like cycling and trekking is favoring the market expansion. In addition, aggressive efforts by fitness influencers to promote active wear and attract consumers have resulted in the athleisure cult, encouraging people to wear active wear on gyms as well as social gatherings and runways.
The market growth is also propelled by rising adoption of functionality-specific apparels and footwear and technological advancements. The use of engineered fabrics in functional apparel offers protects from extreme cold or heat, chemicals and radiation. These fabrics can absorb sweat and keep users cooler in summer and warm in winters. Some of the latest functional apparel are made using anti-bacterial materials capable of preventing body odor. On the other hand, athletic footwear offered by major brands maximizes user comfort and improves athletic performance while reducing the risk of injuries. Increasing incident of foot diseases and allergies is prompting companies to offer sports shoes & socks with specialized features. While various manufacturers are offering sports socks with extra padding to mitigate risk of foot allergies, others are increasingly incorporating sophisticated technologies in their hosiery products. Moreover, increasing focus of various medical laboratories on R&D is expected to bolster the adoption of medical laboratory-wear apparels. These factors are slated to help the global functional apparel market in experiencing a consistent growth over the coming years.
By Type, Top Wear Segment to Reach $100.5 Billion by 2026
Global market for Top Wear (Type) segment is estimated at US$74.8 Billion in 2020, and is projected to reach US$100.5 Billion by 2026 reflecting a compounded annual growth rate of 5.1% over the analysis period. The United States constitutes the largest regional market for Top Wear segment, accounting for 34.7% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 8.3% over the analysis period, to reach US$14.5 Billion by the close of the analysis period. More
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SOURCE Global Industry Analysts, Inc.