PORTLAND, Ore. and PUNE, India, May 09, 2017 (GLOBE NEWSWIRE) -- According to new research published by Allied Market Research, Global Sports Apparel Market is expected to generate revenue of $184.6 billion by 2020, growing at a CAGR of 4.3% during the forecast period, 2015-2020. Growing health awareness, increasing disposable income and a surge in female participation in sports are the major factors driving the growth of the sports apparels market.
The global sports apparel market is categorized, based on end users, into apparels for men, women and kids. The men segment dominates the sports apparel market, constituting around 52% of the total market revenue. The women segment is the second biggest contributor, expected to grow at a relatively higher CAGR of 5.7% during the forecast period, on account of the growing interest and participation of women in different sports activities.
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Based on the mode of sale; retail segment accounted for significant market share in 2014. Some of the prominent companies have focused on opening retail stores in the emerging economies to expand their geographical presence and increase their customer base. The retail segment comprises of supermarkets, brand outlets and discount stores. Online platforms, especially e-commerce sites, have exhibited a robust growth across the globe, owing to the ease of accessibility and availability of a wide range of products at a competitive price. The online mode of sale segment is expected grow at a CAGR of 9.5% during the forecast period.
Based on geography, North American region dominated the global sports apparel market in 2014. However, in terms of growth, APAC region would outpace all the other regions, and emerge as the biggest market of the sports apparel from 2018 onwards. The growth would primarily be driven by the increasing disposable income, rising health awareness and the evolving sports industry.
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Key Findings of Sports Apparel Market:
- The sports apparel market is expected to exhibit a significant growth during the forecast period (2015-2020) due to increasing disposable income, changing lifestyle and growing health awareness among consumers
- Men sports apparel is the highest revenue-generating segment in the sports apparel market. The segment would continue to dominate the market throughout the analysis period
- The retail stores sports apparel segment would grow at a CAGR of 3.1% during the forecast period
- Asia Pacific would emerge as the largest sports apparel market by 2018
Product launches, acquisition and partnership have been the key growth strategies adopted by established players in the market to increase their market share and expand their customer base. The key companies profiled in the report include, Adidas AG, Nike, Inc., Puma SE, Under Armour, Inc., Ralph Lauren Corporation, Umbro Ltd., Fila, Inc., Lululemon Athletica Incorporation, New Balance Athletic Shoe, Inc. and Columbia Sportswear Company.
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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 domain.
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 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.