Sports apparels are mainly worn during workout sessions or while playing sports. Sports apparel are designed to provide comfort and agility during physical movements. Growing health awareness among consumers has compelled them to indulge in different kind of fitness activities such as aerobics, swimming, running, and yoga amongst others, in turn fuelling the demand of sports apparel. The market is further supplemented by the increasing women participation in sports and related activities. Geographically, North America was the largest revenue-generating region in 2014 in the world sports apparel market. However, Asia-Pacific is forecast to be the leading revenue-generating region by 2020, owing to increasing disposable income coupled with rising living standards in the developing countries such as China and India. However, availability of low quality and counterfeit products has marginally restrained the growth of the world sports apparel market.
The world sports apparel market is expected to grow at a CAGR of 4.3% during 2015 2020. Men are the largest end-user of sports apparel, followed by women and children. The popularity of sports clothing among women is growing at a significant pace due to the increasing inclination and participation of women in different sports activities. Though online sales is gaining momentum, retail stores would continue to be the most preferred and dominant sales medium worldwide.
Prominent companies in the market have adopted various growth strategies to capture larger market share. Product launches, partnerships and acquisitions are the major growth strategies adopted by these companies to sustain in the increasing competition. For instance, in July 2014, Adidas entered into a partnership with Manchester United, one of the most successful and popular football clubs in the world, to promote its products globally, which has helped in strengthening the market position of the company across several geographies.
The other key players operating in the market include Nike, Inc., Ralph Lauren Corporation, Umbro, Ltd., Fila, Inc., Lululemon Athletica Incorporation, New Balance Athletic Shoe, Inc. and Columbia Sportswear Company.The world sports apparel market is segmented based on end user, mode of sale and geography. The report analyzes the market on the basis of three end users types including men, women and kids. The mode of sale segment comprises of online stores and retail stores. The retail segment is further bifurcated into supermarkets, brand outlets and discount stores. The online mode of sale would witness the highest CAGR during the forecast period. The report covers an in-depth analysis of the world sports apparel market across various geographical regions, which include North America, Europe, Asia-Pacific and LAMEA (Latin America, Middle East and Africa).
KEY MARKET SEGMENTS:
The World Sports Apparel Market segmentation is illustrated below:
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