Topic > Global Sportswear Market

The global sportswear market is expected to garner $186.4 billion by 2020, registering a CAGR of 5.3% during the forecast period 2015-2020. Sportswear is mainly worn during training sessions or while playing a sport. Sportswear is designed to provide comfort and agility during physical body movements. The global sportswear market has witnessed astonishing growth mainly due to growing health awareness and rise in fitness activities such as aerobics, swimming, running and yoga among a large number of consumers. The market is further strengthened by the increasing participation of women in various sports and fitness activities. Based on geography, North America was the highest revenue region in the global sports apparel market in 2014. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay However, Asia-Pacific will become the largest revenue-generating region by 2020, thanks to improving living standards and rising disposable income in emerging countries such as India and China. However, the availability of counterfeit and low-quality products or counterfeit products has limited the growth of the global sportswear market. Numerous key players operate in the market including Nike, Inc., Umbro, Ralph Lauren Corporation Ltd., Fila, Inc., Lululemon Athletica Incorporation, Columbia Sportswear Company, New Balance Athletic Shoe, Inc. These companies have adopted different growth strategies. to capture a larger market share and increase its growing customer base. Product launches along with partnerships and acquisitions are the major growth strategies adopted by these companies to sustain the intense competition in the market. In July 2014, Adidas partnered with Manchester United and in 2015 Nike with Chelsea, two of the most successful and popular football clubs in the world, to promote its products globally. This has helped both companies strengthen their market position in various geographies. The Indian sportswear market has evolved from a niche segment, aimed exclusively at athletes, to a growing consumer sector. Driven by rising income levels, changing lifestyles and the entry of foreign operators post-liberalisation, the sector has seen rapid growth in recent years. The ever-increasing popularity of cricket, combined with the emerging interest in sports such as football, hockey and tennis, has contributed to the growth of the efficient sportswear market in the nation. In addition to this, the trend of using sportswear as casual wear has broadened the definition of target consumers for leading brands. Some brands also offer collections to meet this demand for casual wear. The sportswear retail market in India is estimated at Rs 365.8 billion and is expected to grow at a robust CAGR of 33% during 2010-2014. The market includes sportswear, footwear and accessories, with footwear being the largest segment, accounting for approximately 60% of the total market. The country's sportswear segment is largely unorganized, with organized players making up only about 30% of the market. Exclusive brand franchise outlets (EBOs) and multi-brand outlets constitute the major sportswear retail channels in India. Therefore, it is necessary to research and analyze market trends).