New "Sportswear Market" Forecast 2023-2031, With 106 Pages (2023)

FAQs

How fast is the sportswear industry growing? ›

The global sportswear market size was USD 160.61 billion in 2020 and is projected to grow from USD 170.94 billion in 2021 to USD 267.61 billion in 2028 at a CAGR of 6.6% during the forecast period.

This statistic shows the size of the activewear market worldwide from 2021 to 2028. In 2022, the size of the global sportswear market amounted to approximately 319.4 billion U.S. dollars.

Sportswear Market Report Overview

The market is expected to achieve a CAGR of more than 6% during 2022-2026. The lasting trend of casualization and the progressive adoption of sportswear in emerging markets will allow the global sportswear market to maintain a strong growth during the forecast period.

The sports apparel market is projected to register a CAGR of 7.55% over the next five years. Rising health and self-consciousness, a desire to live an active lifestyle, and a desire to appear fit are all motivating consumers to incorporate sports and fitness activities into their daily routines.

What is the growth rate of the sportswear market? The market is estimated to grow at a CAGR of 6.90% in the forecast period of 2023-2028.

Sports Apparel Market Regional Insights

In 2021, the US market is expected to be worth USD 62.4 billion. Other notable global markets include Japan and Canada, which are expected to increase at 3.2% and 3.3%, respectively, during the forecast period.

As one of the largest and most recognizable athletic brands on the planet, it is of little surprise that Nike is the leader within its industry of athletic apparel, accessories and footwear, with sales reaching over 49 billion U.S. dollars in the period from January 2022 to January 2023.

Adidas AG (German: [ˈʔadiˌdas] ( listen)) is a German multinational corporation, founded and headquartered in Herzogenaurach, Bavaria, that designs and manufactures shoes, clothing and accessories. It is the largest sportswear manufacturer in Europe, and the second largest in the world, after Nike.

Nike will be the world's top athletic merchandise retailer in 2022, with yearly deals of USD 36.39 billion. American global firm Nike is associated with creating and advancing footwear, garments, gear, frill, and administrations. In 1971, the enterprise was renamed Nike from Blue Ribbon Sports.

Artificial intelligence, eSports, diversity and sustainability are important trends in the sports industry - and they also demand a fundamental change in sports marketing.

Is the sportswear industry saturated? ›

“Our extensive analysis shows that activewear is not a saturated market - rather, with more newcomers it's an aggressively competitive and growing industry,” says Katie Smith, senior retail analyst at Edited.

If you were selling sportswear, you might consider mass marketing as the sportswear industry is worth around $62 billion in the US alone (as of 2019).

A good current ratio is typically considered to be anywhere between 1.5 and 3.

Demand forecasting in the fashion industry involves predicting future demand for fashion products such as clothing, accessories, and footwear. This is typically done by analysing historical sales data, consumer behaviour, market trends, and other factors that influence demand.

In general, an average net profit is around 10%, while a high margin is 20%, and a low margin is 5%. If you want to open online apparel, here's an article exploring how to start your own clothing store with no money that can give you a good start.

Some of the most popular eSport games going into 2023 are Counter-Strike: Global Offensive, A League of Legends, and Fortnite. Although the popularity of these games shifts frequently, these three should remain a force during the coming year, retaining a substantial online viewing audience and active game players.

Nike Is Most Popular Sportswear Brand in the U.S., Per Rakuten Study – WWD.

Nike is known as the biggest sports brand in the world. With an estimated market cap of roughly $200 billion, Nike is by far the most valuable sportswear company, more than doubling the net worth of Adidas, its closest competitor. Known primarily for their shoes, Nike has expanded into clothing and sports equipment.

Nike remains the biggest sportswear brand in the world. With a revenue nearing $50 billion now, the Oregon-based American company has been and still is quite comfortably in the lead within the global sportswear market.

What is the third-largest sportswear company? ›

Anta Sports Products Limited is a Chinese sports equipment multinational corporation headquartered in Jinjiang. It is the world's largest purely sports equipment company by revenue and third-largest manufacturer of sporting goods overall, behind Nike and Adidas.

It is the biggest sportswear producer on the planet. Q: Which is the oldest sports brand? Ans: The oldest sports brand is pioneer Nabholz but is not among the top 10 companies in terms of performance.

Nike. The Beaverton giant remains the biggest sportswear brand in the world, taking more than $44 billion in revenue in 2021.

Dick's Sporting Goods is the nation's largest sporting retailer and operates 850 stores with over 30,000 employees.

End-user Insights. In terms of end-user, the women dominated the industry with a share of more than 41.15% in 2022. The influx of regional and domestic brands solely dedicated to women's clothing has been driving this segment.

The company was established by Richard "Dick" Stack in 1948, and has approximately 854 stores and 50,100 employees. Dick's is America's largest sporting goods retailer, and it is listed on the Fortune 500.

Without a doubt, Mixed Martial Arts (MMA) is the fastest-growing sport in terms of financial earnings. It is estimated that MMA is worth over $7 billion as of 2022, with revenues growing around 20% each year.

Is sportswear profitable? ›

The global sports apparel market was estimated to generate around 191 billion U.S. dollars in revenue in 2022. Rising revenues are forecast to continue and reach around 249 billion U.S. dollars in 2026.

Sportswear or activewear is clothing, including footwear, worn for sport or physical exercise. Sport-specific clothing is worn for most sports and physical exercise, for practical, comfort or safety reasons.

Active Wear Market Outlook (2022-2032)

The active wear market is expected to expand from US$ 421.2 billion in 2022 to US$ 779.9 billion in 2032. Previously, the market grew at a faster rate of 4.5 percent from 2017 to 2021, culminating in a market of US$ 390.0 billion in 2021.

The sport apparel industry has major challenges concerning sustainability because the use of harmful chemicals and high consumption of energy and water in the production process [3]. Some companies takes this more seriously than others, in terms of material selection, free mending of used garments and recycling.

The sports apparel market has been segmented based on end user, distribution channel, and region. On the basis of end user, the market is divided into children, men, and women. Based on distribution channel, it is segmented into E-commerce, supermarket/hypermarket, brand outlets, and discount stores.

Using nanotechnology, microfibers, and insulators are some widely known technologies being used in the athletic wear. And these apparels are no more limited to sports persons and athletes.

The revenue of the global apparel market was calculated to amount to 1.53 trillion U.S. dollars in 2022, a slight decrease on the previous year.

In the retail sector, an asset turnover ratio of 2.5 or more could be considered good, while a company in the utilities sector is more likely to aim for an asset turnover ratio that's between 0.25 and 0.5.

An ideal inventory turnover ratio for retail is between 2 and 4.

The global apparel market grew from $610.12 billion in 2022 to $652.94 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term.

What are the 4 parts of a fashion forecast? ›

The fashion forecast process includes basic steps of understanding the vision of the business and profile of target customers, collecting information about available merchandise, preparing information, determining trend, and choosing merchandise appropriate for the company and target customers.

China and the United States are expected to fare better, growing between 2 and 7 percent and between 1 and 6 percent, respectively. These forecasts are reflective of inflation and are calculated in local currencies, meaning that the real impact for the sector could be more negative than these figures suggest.

Average T-Shirt Profit Margins

Average custom t-shirt industry markups tend to fall between 30% to 50%. For example, if your total printing and shipping costs add up to $20 and you decide on a 30% profit margin, the retail price will be $20 + ($20 x 30%) = $26.

But in general, a healthy profit margin for a small business tends to range anywhere between 7% to 10%. Keep in mind, though, that certain businesses may see lower margins, such as retail or food-related companies. That's because they tend to have higher overhead costs.

The average revenue in the clothing industry

On average, a clothing brand can make profits of anywhere between $23,751 and $140,935, depending on its expenses, marketing efforts, company size, product types, location, and target customers. A clothing line owner can also make over $51,000 per year.

The global sports market grew from $486.61 billion in 2022 to $512.14 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term.

Global sneaker sales totalled $152.4 billion in 2022 according to Euromonitor, reflecting a 2.7 percent increase in sales from the year before but a dramatic slowdown compared with the 19.5 percent spike in 2021. Now through 2027, the category is projected to grow at an annual average rate of 3.6 percent.

Revenue in the Footwear market amounts to US$88.47bn in 2023. The market is expected to grow annually by 3.29% (CAGR 2023-2028).

Revenue in the Sneakers segment amounts to US$75.77bn in 2023. The market is expected to grow annually by 5.31% (CAGR 2023-2028).

What is the fastest growing sport in America right now? ›

How pickleball became the fastest growing sport in America.

Job Outlook

Employment of athletes and sports competitors is projected to grow 36 percent from 2021 to 2031, much faster than the average for all occupations. About...

Salomon, Hoka and The North Face Are the Fastest-Growing Sneaker Brands. None of them will unseat Nike or Adidas any time soon, but they're bigger than ever.

StockX revealed in the report that Salomon experienced 2,277% trade growth in 2022 over 2021. Following Salomon was Hoka, which experienced 713% trade growth. The three remaining brands rounding out the top five were Rick Owens (522%), The North Face (388%) and Puma (326%).

By far the biggest concern over the next six months for experts in the footwear industry is the cost of merchandise or raw materials, according to a survey conducted in April 2022.

Global sneakers market revenue from 2014 to 2027

In 2022, the total global sneakers market revenue was valued at approximately 72.7 billion U.S. dollars and was forecast to reach a value of over 100 billion dollars by 2026.

The latest Future of Footwear forecast reports that the industry will grow sales revenue at a steady pace of 1% through 2025, with unit sales beginning to improve in 2024, as the pressure from average price increases will ease.

In 2024, the global footwear market's revenue is forecasted to reach $155.2 billion. This is set to hit $171.9 billion in 2025 before further rising 5.1% to $180.7 billion in 2026. By 2027, revenues from the global footwear industry are projected to total $191.3 billion.

In fact, the sneaker industry was up 19.5 percent that year. Now, it's only up 2.7 percent, a 3 percentage point drop from pre-pandemic numbers (2019: 5.7 percent). It will keep a similar pace over the next five years, experts say, a cooling period that comes on the heels of unheralded growth.

What demographic buys the most sneakers? ›

What demographic buys the most sneakers? Data shows that the target market for Nike shoes includes Millennials (24–39-year-olds) and Gen Z (9–24-year-olds). Presumably, many Millennials are buying sneakers for their young children.