Albany, New York, March 2, 2017: Since several decades, the sportswear industry has grown massively due to rising consumer demand for comfort fabrics and the need to drop a fashion statement. Also, a new study has been released which focuses on this growing market, briefly analyzed that global sportswear market is trending with innovation, increasing health awareness, acceptance of athleisure, the combination of smart clothing and growth of functional clothing. Market Research Hub (MRH) has recently broadcasted the inclusive study titled “Global Sportswear Market Industry Analysis & Outlook (2017-2021)” to its vast repository, which highlights the key factors and opportunities for the global market. For the global market synopsis, the study provides regional analysis of some major regions, such as Europe, North America and APAC.
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First of all, the report begins with the brief overview of Sportswear and also outlines its scope in the worldwide market. Today, one of the booming trends in the sportswear market is the combination of fashion and sportswear. Sportswear is worn during any physical exercise, in order to provide the wearer comfort. Furthermore, the report describes the detailed market segmentation.
Sportswear market is classified into two major categories:
- Sports apparel
- Sports footwear
Owing to the growing health awareness and increasing fitness activities such as aerobics, swimming, running and yoga among consumers, the market is expected to witness steady growth in coming years also. The market is further supplemented by the increasing participation of women in sports and fitness activities. It mainly includes- T-shirts, hoodies, polo shirts, tracksuits, tennis shirts, shorts, shoes etc. which are worn while playing sports and doing other physical activities.
In terms of geography, North America is the largest sportswear market globally. It has the most advanced fitness market, along with other favorable dynamics. Also, the future growth is expected to come from the online mode of sale which has witnessed a dynamic growth in the past few years owing to increased popularity and penetration of internet and availability of a wide range of products at a discounted price.
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The sportswear market includes various enterprises that are engaged in the manufacturing and retailing sports apparel and shoes.
Some of the leading players operating in this market are as follows:
- Nike, Inc.
- VF Corporation
- Adidas Group
In July 2014, Adidas entered into a partnership with Manchester United, one of the most popular football clubs in the world, to endorse its products globally. Moreover, the report also examines that the market growth will be hindered by counterfeit product availability, low negotiation power of purchasers etc.
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