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Growth in the Global Sportswear Market

Date:31-10-2013

With people’s burgeoning interest in health and fitness, the demand for sportswear has also gone up. Traditionally, only professionals who were involved in playing sports, used to invest in sportswear. But during the last decade, people have become conscious about fitness and more and more people have taken up sports professionally. Gyms and fitness centers have also mushroomed all over the world as people are keen to adopt a healthy lifestyle. This has contributed in increasing the growth of the global sportswear industry. Athletic sportswear and footwear has been accepted as mainstream fashion wear during the late 90s. This trend has helped in pushing the sales of sportswear.

The sportswear industry consists of manufacturers and retailers of sports apparel, footwear and other accessories. Presently the global market for athletic apparel and footwear is valued at around 58.47 billion USD. The sportswear market is predicted to grow at a rapid rate to reach a value of 126.3 billion USD by the year 2015. Some of the key factors that are contributing to the growth in the sportswear sector are change in lifestyle, increase in urban population, increase in sports participation by both men and women and emphasis towards adopting healthy. The largest market for sportswear is United States followed by Europe. However, the Asia-Pacific market has potential for growth as there is a demand for sporting apparel and footwear from countries such as China, Brazil, India and Australia.

Currently the market leaders in the field of sportswear or activewear are Nike, Inc., Puma SE, Reebok International Limited and Adidas AG. Other companies such as New Balance, Billabong, Banana Republic, Kappa, Fila, Asics, Old Navy, Gap, Umbro and Lotto are also present in the market, although there market reach and market share is not as large as the major players. Going forward, some of the major challenges that sportswear industry has to face are increase in competition, more demanding and price conscious customers and changing fashion trends.

To sustain growth in the industry, manufacturers need to come up with versatile apparel and footwear that are functional as well as fashionable. All these factors are also going to be instrumental in driving the future growth in the sportswear market.

Explore the latest market research report on sportswear industry @ http://www.chinamarketresearchreports.com/114652.html

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