The sports apparel market is expected to reach US $400 billion by 2033, with a CAGR of 6.9 percent over the forecast period of 2023 to 2033.
In 2023, the market size for this industry was estimated to be over US$ 200 billion.
According to a Fact.MR analysis, people are becoming more cognizant of their health and motivated to include sports and sports clothing in their lives in order to live healthier fitter lifestyles. The market is also projected to benefit from women participating in domestic sports and fitness activities more frequently.
Fashionable sports gear is in great demand since it is versatile, convenient, fashionable, and can be used in a variety of situations. This growing emphasis on style has been capitalized on by major players in the market studied, who have created unique, technologically complex things that are both comfortable and useful in order to match this demand, hence improving their profitability, Fact.MR said.
Asia-Pacific is the region in this segment that is expanding at the highest rate, with China and India having high rates of youth participation in sports and other leisure activities.
Despite the fact that the US is anticipated to be the largest market during the projection period, this is the case.
The demand for sports apparel in the region is anticipated to rise as a result of consumers’ growing desire for international brands, rising disposable income, and aspirations for better lives.