Portland, OR, March 11, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global sports apparel market was estimated at $167.7 billion in 2018 and is expected to hit at $248.1 billion by 2026, registering a CAGR of 5.1% from 2019 to 2026. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and changing market trends.
Increase in health awareness, adoption of fitness activities including aerobics, running, swimming, and yoga among consumers, and rise in participation of women in sports as well as fitness activities fuel the growth of the global sports apparel market. On the other hand, fluctuating prices of raw materials and ease in availability of counterfeit apparel curtail down growth to some extent. Nevertheless, demand for fashionable and trendy sports apparel, and rise in prominence of sports apparel among children are expected to pave the way for lucrative opportunities in the industry.
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The men segment to lead the trail by 2026-
Based on end user, the men segment held nearly half of the total market revenue in 2018, and is projected to rule the roost by the end of 2026. At the same time, the women segment would manifest the fastest CAGR of 5.6% during 2019–2026.The children segment is also analyzed in the market report.
The discount stores segment to retain its dominance in terms of revenue-
Based on distribution channel, the discount stores segment contributed to nearly one-third of the total market share in 2018, and is expected to dominate throughout the forecast period. Simultaneously, the e-commerce segment would portray the fastest CAGR of 5.9% during the study period. The other segments assessed in the report take in supermarket/hypermarket, and brand outlets.
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Asia-Pacific garnered the highest share in 2018-
Based on region, the Asia-Pacific generated the major share in 2018, accounting for nearly one-third of the global market. This region would also grow at the fastest CAGR of 6.8% throughout the estimated period. The other regions discussed in the report include North America, Europe, and LAMEA.
Leading market players-
The key market players analyzed in the global sports apparel market include Nike, Inc., Columbia Sportswear Company, Under Armour, Inc., New Balance Athletic Shoe, Inc., Puma SE, Fila, Inc., Adidas AG, Lululemon Athletica Incorporation, Ralph Lauren Corporation, and Umbro Ltd. They have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to strengthen their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.