Sports Apparel Market is likely to witness a CAGR of 4.5% during the forecast period, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Sports Apparel Market
Growing number of participation of women in professional, domestic sports and fitness, availability of sports apparel with improved features, such as temperature control, moisture management, and other performance-boosting properties which prevent discomfort and potential injury, and increase in health and self-consciousness to live an active lifestyle, and to have physically fit appearance are the major factors driving the growth of the market during the forecast period.
Asia-Pacific is estimated to be the fastest-growing region in the market during the forecast period with China and India being the major countries with higher percentage of young population. China being the leading country fueling the regional market growth by encouraging the youth population to actively participate in sports, supported by several government initiatives, and growing appetite for foreign brands, and rise in disposable income along with the desire to lead better lifestyles are some of the major factors positively influencing the market growth over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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Report Scope & Market Segmentation
Sports Apparel Market Share: By End-User Type
Based on the end-user type, the market is segmented as men, women, and children. The women segment is estimated to be the fastest-growing end-user type in the market owing to increase in demand for trendy and fashionable sports apparel and participation of women in sports over the forecast period. On the other hand, the men’s segment is anticipated to account for the largest share of the market owing to higher participation of men in sports during the forecast period.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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