Sportswear Market Size and Category Trend Analysis
The sportswear market size will be valued at USD 408.3 billion in 2021. The market is expected to grow at a CAGR of over 6% during 2022-2026. The persistent trend of casualization and gradual adoption of sportswear in emerging markets will sustain the strong growth of the global sportswear market over the forecast period. Asia Pacific is projected to increase its share of the sportswear market significantly by 2026. Sales in the Asia-Pacific region are driven by emerging economies such as China, India, and the Philippines, where economic growth is strong and consumer participation in sports is growing.
The sportswear market research report will help to understand what is driving the high growth of the sportswear market and which categories will perform the strongest until 2026. The report will also help in understanding the geographical differences in the sportswear market and which categories are the major countries driving the growth of the market.
Activewear Market Drivers and Trends
Emerging markets in Asia Pacific and Latin America will drive the growth of the activewear market through 2026. Sportswear is currently less established in these regions, so they have more room to grow as trends catch on. These emerging markets will also see some of the strongest online growth in the broader apparel market over the forecast period as digital infrastructure becomes more developed, which will boost further growth in the sportswear market as major players such as Nike and Adidas Brands have leading online propositions.
Sportswear Market Segmentation by Category
The major categories in the sportswear market are sportswear, sneakers, and sports accessories. The sportswear segment will dominate the sportswear market in 2022.
Sportswear Market Segmentation by Distribution Channel
The major distribution channels for the sportswear market are apparel, footwear, and accessories specialists, online specialists, department stores, other online retailers, and others. The apparel, footwear, and accessories specialty segment holds the largest activewear market share in 2022.
Sportswear Market Segmentation by Region
The major regions for the sportswear market are the Americas, Asia Pacific, Europe, and Middle East & Africa. The Americas will still have the largest share of the sportswear market through 2026, although its lead over Asia Pacific will be much smaller. The U.S. drives the sportswear market in the region, with the country's already high level of sports participation and its widespread adoption of the athleisure trend making it a mature market. As sportswear becomes mainstream, the growth in the forecast year will mainly come from emerging Latin American countries such as Argentina, Chile, and Brazil.
Sportswear Market - Competitive Landscape
Some of the leading brands in the sportswear market include Nike, Adidas, Vance, Puma, Under Armour, and Li-Ning, among others. In 2022, Nike is the leading sportswear brand. Nike continues to innovate in collaboration with celebrities, sports teams, and other companies, ensuring its products are relevant and exciting.
Main Highlights
2023 will be a difficult year for the sportswear market and the apparel market in general, as growth will be driven by price rather than volume as inflation weighs on consumers' disposable income. However, the market will grow steadily until 2026 as the financial situation of consumers gradually improves.
The activewear market will grow in all regions of the world through 2026, but Asia Pacific will outperform, driven by the region's many emerging markets with thriving economies and rising sports participation.
Sportswear will remain the dominant sports category through 2026 as it includes common sportswear such as leggings, sneakers, and workout tops.
Apparel accounts for the majority of the global sportswear market and will increase its overall market mix by 3.5 percentage points over the decade 2016-2026.
The above briefly introduces the analysis of the sportswear market size and category trends. If you want to order sportswear, please contact us.
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