Sport
Sports Apparel Market to Exceed US$ 362.3 Bn by 2032 Amid Rising Demand for Trendy and Comfortable Sportswear
NEW YORK , April 12, 2022 /PRNewswire/ -- The global sports apparel market is poised to expand at a CAGR of 5.8% between 2022 and 2032. Overall sales in the sports apparel market are estimated to reach US$ 205.2 Bn in 2022.
Rising health consciousness is motivating people to engage in physical activities such as running, aerobics, yoga, swimming, and others. On account of this, to maintain a sporty look, sales of sports apparels are expected to increase over the forecast period.
Additionally, growing participation of women in sports and fitness activities is improving the demand for comfortable and fashionable sports apparel. This is likely to create prolific growth opportunities for the manufacturers.
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Moreover, key players are focusing on adopting new marketing strategies such as promotional marketing, advertising campaigns and celebrity brand endorsement for sports apparel. This is projected to push the demand in the market over the forthcoming years.
Subsequently, initiatives by government to encourage the participation in numerous sports activities is likely to increase the demand for athletic and comfortable sports apparel. To capitalize on this trend, several premium brands are promoting their active wear through social media to woo the consumers.
Consequently, demand for comfortable and fashionable active wear such as pastel colored yoga pants and others is surging through social media platforms. This is anticipated to spur the sales of sports apparel by 2.3x over the assessment period.
Leading manufacturers operating in the global sports apparel market are concentrating on advancing their product line to cater to the growing demand for comfortable active wear. Meanwhile, some of manufacturers are using biodegradable materials to tackle growing recyclability issues as well as to gain competitive edge.
For instance,
Fact.MR in its latest study provides a comprehensive analysis on the global sports apparel market for the forecast period of 2022 to 2032. It also uncovers key factors spurring the sales of sports apparel market with detailed segmentation as follows:
: Increasing participation of women in badminton is bolstering the demand for trendy sportswear. Also, growing health consciousness and need to boost immune system is improving the participation in physical activities such as badminton, squash, and tennis. This is likely to fuel the sales of badminton apparel.
: Smart sports textile market is anticipated to exhibit significant growth owing to the rising demand for tracking performance and fitness of the athletes. Furthermore, integration of modern technology to keep a track of health and performance among athletes is likely to increase sales of technology-based smart sports textile.
: According to Fact.MR, the sales of hoof boots increased at a valuation of US$ 14.3 Mn , with the total shipment of 131 thousand pairs in 2021. Further, application of hoof boots to treat equine diseases such as abscesses, laminitis, navicular, and others will bolster the demand for hoof boots.
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