Sports market valued at $793.46 billion, worldwide, by 2028 at a CAGR of 9.9%

NEW YORK, April 4, 2022 /PRNewswire/ — Insight Partners released the latest research study on “sports market Forecast to 2028: Impact of COVID-19 and Global Analysis by Type (Tops, Bottoms, Footwear and Others), Category (Men’s, Women’s, Unisex and Kids), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Retail Online), and Others), and Geography”, the global sports market is expected to grow from $411.02 billion in 2021 to $793.46 billion by 2028; it is estimated to grow at a CAGR of 9.9% between 2021 and 2028.

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Report Coverage

Details

Market size Value in

US$411.02 billion in 2021

Market size Value per

US$793.46 billion by 2028

Growth rate

CAGR of 9.9% from 2021 to 2028

forecast period

2021-2028

base year

2021

Number of pages

153

Number of tables

86

No. of Graphs and Figures

83

Historical data available

Yes

Covered segments

Type, category, distribution channel and geography

regional scope

North America; Europe; Pacific Asia; Latin America; MEA

country scope

USA, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

coverage report

Revenue Forecast, Company Rankings, Competitive Landscape, Growth Factors and Trends


Sports market: competitive landscape and key developments

Adidas AG; Asics; Athlete LLC; Authentic Brands Group; Columbia Sportswear Company; Hennes and Mauritz AB; Lululemon Athletica; Nike, Inc.; Cougar SE; and Under Armor Inc. are the few key players operating in the sports market. Major market players adopt various business strategies, such as mergers and acquisitions, to expand their geographic footprint and consumer base across the globe.

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The growth of the Athleisure market is driven by increased awareness of health and fitness in general, and increased demand from millennials. However, the presence of counterfeit brands restricts the growth of the market.

North America dominated the sports market in 2020. Also, the region is expected to hold the largest market share during the forecast period. Sports market trends are primarily influenced by demand and growing interest among millennials. Increased participation in physical activities among people of all ages is expected to drive market growth in the coming years. According to The Good Body, an online affiliate advertising provider for Amazon, the number of people practicing yoga in the US grew by 50% between 2012 and 2016. december 2020, the number of yoga enthusiasts in the country reached ~36 million. Manufacturers in the region are increasingly focusing on developing products with sustainable raw materials, such as BCI cotton, recycled polyester and nylon, and green chemicals. In 2020, Pacific Asia it was the second largest market for sporting goods. A common desire to lead active lifestyles and appear fit encourages consumers to enjoy sports and fitness activities during their routine, which is driving market growth in the region.

Rising awareness of health and fitness drives the sports market:

Consumers around the world are paying close attention to the adoption of physical activities in the form of various sports and outdoor exercises. According to the 2020 Health Club Consumer Report from the International Health, Racquet and Sports Club Association (IHRSA), the number of visits to health clubs by Americans increased by 45%, reaching 6.7 billion of 4.6 billion during 2010-2019. Along with this, there has been a growing trend of practicing yoga for physical and mental health. Thus, the high involvement in fitness activities drives the demand for sports products, since they meet consumer expectations in terms of comfort and fashion.

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Sports Market Size – Segment Overview

On the basis of type, the market is segmented into upper garments, lower garments, footwear, and others. The underwear segment dominated the market in 2020. Based on the category, the market is segmented into men, women, unisex and children. The men’s category segment dominated the market in 2020. Based on the distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The market for the online retail segment is expected to grow at the highest CAGR during the forecast period. The increasing penetration of e-commerce in various countries around the world is supporting the growth of the market.

Impact of the COVID-19 Pandemic on the Athleisure Market:

The closure of manufacturing units during the COVID-19 pandemic negatively affected the production and supply of the sports market. In addition, the logistics and transportation sector hampered the market due to the imposition of the blockade. The closure of supermarkets, hypermarkets and specialized stores, among other distribution points, has made it difficult to access sports products. In the second half of 2020, the relaxation of the confinement restrictions led to the resurgence of the transport and trade sector, which supported the revival of the sports market. Also, a rise in the popularity of e-commerce during the COVID-19 pandemic had a positive impact on the market. According to True Fit’s Fashion Genome, which analyzes data from 17,000 retail brands and 180 million True Fit members, sportswear order sales have grown 84% since lockdowns were imposed.

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Browse Attached Reports:

Sports shoe market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Shoe Type (Sneakers, Running Shoes, Walking Shoes, Basketball Shoes, Soccer Shoes, Others); End user (men, women, unisex); Distribution Channel (Supermarkets and Hypermarkets, Special Stores, Online Retail, Others) and Geography

Sustainable sports market Forecast to 2028: impact of COVID-19 and global analysis by consumer group (men, women); Type (Massive, Premium); Product (Shirt, Yoga Pants, Leggings, Shorts, Others); Distribution channel (offline, online) and geography

Shoe Insole Pad Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Product Type (Sports Insoles, Insulating Insoles, Moldable Insoles, High Heel Insoles, Others); Material (Leather, Gel, Foam, Others); Distribution Channel (Supermarkets and Hypermarkets, Special Stores, Online Retail, Others) and Geography

Market for foot care products Forecast to 2028 – Impact of COVID-19 and global analysis by product (repairing foot ointments, foot creams, foot cleansing lotions, exfoliating products for sloughs, others); Application (Sports & Athletics, Medical, Personal Comfort); Distribution Channel (Drugstores and Pharmacies, Hospitals and Clinics, Online Stores, Others) and Geography

Market of materials for shoe soles Forecast to 2028 – Impact of COVID-19 and Global Analysis by Material (Rubber, Polyvinyl Chloride (PUC), Thermoplastic Rubber (TPR), Others); Product (sports, non-sports); End user (men, women, children) and geography

online fabric market Forecast to 2028 – COVID-19 Impact and Global Analysis by Material (Nylon, Polyester, Others); Product (Tulle, Mesh, Others); Application (Clothes, Utility) and Geography

Spandex Fiber Market Forecast to 2028 – Impact of COVID-19 and global analysis by production process (dry-spinning solution, wet-spinning solution); Application (clothes and clothing, home furnishings, other) and geography

Coated fabrics market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Product (Polymer Coated Fabrics, Rubber Coated Fabrics, Fabric-Backed Wallcoverings); Application (Transportation, Protective Clothing, Industrial, Roofing, Awnings and Canopies, Furniture and Seating, Others) and Geography

microfiber market Forecast to 2028 – COVID-19 Impact and Global Analysis by Material (Polyester, Polyamide, Others); End user (domestic, commercial, industrial, footwear, automotive, clothing, furniture); Application (Cleaning Cloths, Synthetic Leather, Others) and Geography

About us:

Insight Partners is a comprehensive provider of actionable intelligence industry research. We help our clients obtain solutions to their investigative needs through our consulting and syndicated investigative services. We specialize in industries such as semiconductors and electronics, aerospace and defense, automotive and transportation, biotechnology, healthcare computing, manufacturing and construction, medical devices, technology, media and telecommunications, chemicals and materials.

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SOURCE Insight Partners

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