Sportswear Market Size was valued at USD 191.8 Billion in 2022. The Sportswear market industry is projected to grow from USD 205.2 Billion in 2023 to USD 352.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.00% during the forecast period (2023 - 2032). Increased emphasis on health and fitness and adoption of athleisure as a mainstream fashion trend are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for sportswear is being driven by the rising emphasis on health and fitness reshaping consumer preferences and industry dynamics. At present, a significant shift toward healthier lifestyles and growing awareness of the importance of physical activity has boosted a rise in demand for athletic apparel. This transformation is driven by a confluence of factors that collectively contribute to the robust market for sportswear.
A fundamental driver is the surging awareness of health and wellness, with individuals recognizing the positive effect of regular exercise on physical and mental well-being. As people prioritize fitness as an important part of their lifestyles, the requirement for suitable and performance-improving sportswear becomes paramount. The rise of fitness culture, boosted by the proliferation of gyms, fitness classes, and wellness initiatives, has further fueled the demand for sportswear. Activewear, designed with features like breathability, moisture-wicking fabrics, and flexibility, enhances the comfort of physical activities and also aligns with the broader societal emphasis on maintaining a healthy and active lifestyle. Consumers now consider sportswear not only as functional apparel for exercise but also as a reflection of their commitment to a fitness-oriented lifestyle. The shift in perception has resulted in an increased desire to invest in high-quality sportswear, driving the growth of market as individuals look for performance-driven, stylish garments that cater to their specific fitness needs.
Additionally, the athleisure trend, blending athletic wear with casual fashion, has significantly grown the sportswear market beyond traditional fitness settings. The versatility of sportswear, characterized by comfortable materials and stylish designs, has made it socially acceptable for everyday wear. This dual-purpose functionality aligns with the modern consumer's desire for clothing that seamlessly transitions between various activities, from a workout session to casual outings, further driving the sportswear growth of market. Social media and the digital age play an important role in multiplying the focus on health and fitness. The broad sharing of fitness journeys, workout routines, and wellness tips on platforms like Instagram and TikTok generates a culture of inspiration and motivation. In this visually driven landscape, sportswear becomes a visible and aspirational element, with influencers and fitness enthusiasts showcasing the latest trends and brands. This online presence not only drives immediate sales but also contributes to sustained demand as consumers aspire to emulate the active and health-conscious lifestyles portrayed in social media.
The sportswear industry has responded to this emphasis on health and fitness with continuous innovation. Brands are investing in research and development to create technologically advanced fabrics, sustainable materials, and aesthetically pleasing designs that cater to the evolving needs and preferences of consumers. This commitment to innovation not only enhances the performance aspects of sportswear but also contributes to the overall appeal, driving consumer loyalty and market expansion. Thus, driving the Sportswear market revenue.
The Sportswear market segmentation, based on product type includes Apparel, Footwear and Wearables. The apparel segment dominated the market, accounting for the largest market revenue due to their main role in meeting comprehensive consumer needs throughout various athletic and leisure activities. The appeal of sportswear lies in its functionality, offering specialized features like breathability, moisture-wicking, and flexibility tailored to specific sports and activities. Sportswear includes a broad range of apparel, inclusive of athleisure, activewear, and performance-oriented garments, making it a versatile and comprehensive category. With the surging trend of athleisure, where sportswear seamlessly transitions from fitness settings to everyday wear, the dominance of apparel product types remains the main factor driving the market growth.
The Sportswear market segmentation, based on end user, includes Children, Men and Women. The men category dominates the market due to a higher participation rate in sports and fitness activities. The historically larger presence of men in organized sports, along with a strong association between masculinity and athletic pursuits, has generated a robust demand for men's sportswear. Marketing strategies often target male consumers via endorsements by male athletes and emphasize performance, durability, and style, further solidifying men's dominance in the sportswear market. Moreover, the rising trend of athleisure has further increased the significance of sportswear in men's fashion, with activewear seamlessly integrated into daily wardrobes.
Figure 1: Sportswear Market, by End User, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Sportswear market segmentation, based on distribution channel, includes Retail Stores and E-Commerce Stores. The retail stores category dominates the market due to their role as main touchpoints for consumers looking for a hands-on and involving shopping experience. In-store interactions also helps brands to build a direct connection with customers, providing product recommendations, personalized assistance, and a tangible representation of their brand identity. These stores offer customers with the opportunity to physically assess the fit, quality, and style of sportswear, resulting to a more satisfying and informed purchase decision. Additionally, retail stores serve as hubs for exclusive releases, collaborations, and in-store events, creating a sense of community and fostering brand loyalty within the sportswear market.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Sportswear market area dominate this market, a robust sports culture, strong consumer demand, and the presence of major sportswear brands headquartered in the region. The region's affluent and health-conscious population, along with a widespread adoption of athleisure trends, contributes to the market growth in the region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: SPORTSWEAR MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Sportswear market accounts for the second-largest market share due to a strong affinity for outdoor activities, a fitness-conscious population, and a fashion-forward culture that embraces athleisure trends. Further, the German Sportswear market held the largest market share, and the UK Sportswear market was the fastest growing market in the European region
The Asia-Pacific Sportswear Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the growing middle class, increasing fitness awareness, and rising reference for athleisure trends. Moreover, China’s Sportswear market held the largest market share, and the Indian Sportswear market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Sportswear market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Sportswear industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Sportswear industry to benefit clients and increase the market sector. In recent years, the Sportswear industry has offered some of the most significant advantages to sports. Major players in the Sportswear market, including Puma SE, Inc., Adidas AG, Nike, Inc., Under Armour, Inc., Lululemon Athletica Inc., Anta Sports Products Limited, Columbia Sportswear Company, Fila Holdings Corp., Umbro Ltd., Li Ning Company Limited, and others, are attempting to increase market demand by investing in research and development operations.
Adidas, a German multinational corporation, is one of the leading sportswear and athletic footwear brands, globally. Founded in 1949, the company has consistently been at the top of the athletic apparel industry, popular for its innovative designs and commitment to performance. Adidas caters to a comprehensive range of sports, inclusive of running, basketball, soccer, and training, providing a comprehensive array of products that blend functionality with cutting-edge style. In November 2023, Adidas extended its long-term partnership with designer Stella McCartney, emphasizing to further increase boundaries in sustainable sportswear by using recycled materials and innovative production processes.
Lululemon Athletica, a popular athleisure giant, has strengthened its presence as a lifestyle brand synonymous with premium athletic apparel and yoga-inspired clothing. The brand is celebrated for its commitment to innovation, quality, and sustainable practices, offering a broad range of products from yoga pants and sports bras to outerwear and accessories. Founded in 1998 in Vancouver, Canada, Lululemon has successfully bridged the gap between activewear and casual fashion, cultivating a dedicated following. In October 2023, lululemon acquired interactive fitness platform MIRROR, spreading its reach into the home fitness market and capitalizing on the rising need for personalized workout experiences.
Sportswear Industry Developments
December 2023: The owner of brands like The North Face and Vans, VF Corporation, acquired Supreme, a cult streetwear brand popular for its limited-edition collaborations and releases. This allows VF Corporation access to a highly coveted brand and its loyal fanbase, strengthening its presence in the streetwear market.
November 2023: Dobble Wear, performance apparel brand specializing in moisture-wicking fabrics and temperature regulation, was acquired by Puma, the German sportswear giant. This acquisition assists Puma's technical offerings and assists to athletes seeking high-performance gear.
September 2023: Under Armour acquired MapMyFitness, a famous fitness tracking app. This move permits Under Armour to leverage MapMyFitness's data and utilize base to personalize workout recommendations and further integrate digital fitness into its product offerings.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 191.8 Billion |
| Market Size 2023 | USD 205.2 Billion |
| Market Size 2032 | USD 352.6 Billion |
| Compound Annual Growth Rate (CAGR) | 7.00% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, End User, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Puma SE, Inc., Adidas AG, Nike, Inc., Under Armour, Inc., Lululemon Athletica Inc., Anta Sports Products Limited, Columbia Sportswear Company, Fila Holdings Corp., Umbro Ltd., Li Ning Company Limited |
| Key Market Opportunities | Increased adoption of athleisure as a mainstream fashion trend. |
| Key Market Dynamics | Increased emphasis on health and fitness. |
Frequently Asked Questions (FAQ) :
The Sportswear market size was valued at USD 191.8 Billion in 2022.
The market is projected to grow at a CAGR of 7.00% during the forecast period, 2023-2032.
North America had the largest share in the market
The key players in the market are Puma SE, Inc., Adidas AG, Nike, Inc., Under Armour, Inc., Lululemon Athletica Inc., Anta Sports Products Limited, Columbia Sportswear Company, Fila Holdings Corp., Umbro Ltd., Li Ning Company Limited.
The apparel category dominated the market in 2022.
The retail stores had the largest share in the market.
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.Â
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