Global Sportswear Market 2022-2027

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    Published- March 2022

    Number Of Pages -95

    GLOBAL SPORTSWEAR MARKET

     

    KEY FINDINGS

     

    1. The global sportswear market is projected to grow from $XX billion in 2021 to $XXbillion in 2027 at a CAGR of 4.3% in forecast period of 2021-2027.
    2. The North American Sportswear Market was valued at USD XX Billion in 2021 and is projected to reach USD XX Billion by 2027, which shows a growth of 14% through 2021 to 2027.
    3. The European Sportswear Market was valued at USD XX Billion in 2021 and is projected to reach USD XX Billion by 2027, which shows a growth of 28% through 2021 to 2027.
    4. Majority of the companies at present, are collaborating with various Content creators, Athletes, influencers, etc and sponsor major sports events like the FIFA, Winter Olympics, etc. as part of their marketing campaign along with regular advertisements across the board.
    5. The market is led by North American and European companies like Nike, which is the global leader in sportswear with XX% of the market share, followed by Adidas and Puma at  8% and 2% respectively.
    6. In 2021, Adidas aimed to produce 17 million pairs of shoes with recycled plastic waste collected from beaches and coastal regions, after more than 15 million in 2020.
    7. Nike Launched a program called Nike Refurbished as a pilot program in the US, where they take returned products, digital returns, customer returns, and recondition them and put them back in the market. 
    8. In 2022, The use of digital platforms continues to grow, brands will need an increasing amount of technical infrastructure to continue to satisfy the consumers’ needs. If they fail to continue to effectively scale and adapt the digital platforms to accommodate increased consumer demand, the business may be subject to interruptions, delays or failures and consumer demand for their products and digital experiences could decline.
    9. Nike’s Digital commerce sales were $XX billion for fiscal 2021 compared to $5.5 billion for fiscal 2020, about 65 percent up.
    10. Brands sell their products through a variety of channels, with a significant portion through traditional brick-and-mortar retail channels. The COVID-19 pandemic has shifted guest shopping preferences away from brick-and-mortar and towards digital platforms. As strong e-commerce channels emerge and develop, They are evolving towards an omni-channel approach to support the shopping behaviour. This involves country and region specific websites, social media, product notification emails, mobile apps, including mobile apps on in-store devices that allow demand to be fulfilled via distribution centres, and online order fulfilment through stores.
    11. Technology-based systems give the consumers the ability to shop or interact with brands online that do not function effectively, their operating results, as well as the ability to grow the e-commerce business globally or to retain the customer base, could be materially adversely affected.
    12. Coronavirus pandemic negatively impacted the demand in retail and wholesale channels, it had a significant positive impact on e-commerce channels. 
    13. Sales for Yeezy’s adidas sneakers remained resilient through the pandemic, growing XX percent to nearly $1.7 billion in annual revenue last year.
    14. Nike’s Jordan sales rose 31% to $X Billion for the company’s completed fiscal year 2020. The Jordan brand generates more than XX% of Nike’s overall business
    15. Because of the rise of social media, sport brands are investing more time and resources on social media campaigns, while it has affected consumers’ consumption of sports
    16. Influencers will post endorsements with a paid collaboration, or recommend a product or service genuinely, without getting paid by the company. Influencer endorsements are also often used by marketers due to their attracted attention among consumers and positive effects on endorsed brands.
    17. The companies should respond to trends and shifts in consumer preferences by adjusting the mix of existing product offerings, developing new products, styles and categories and influencing sports and fitness preferences through extensive marketing. Failure to respond in a timely and adequate manner could have a material adverse effect on sales and profitability. 
    18. On the other hand, polyester and fabric prices were expected to increase due to shortage in production following China’s lockdown, however, a faster recovery by Chinese MMF manufacturers has resulted in a small drop in price. Textile machinery manufacturers globally reported major drop in sales
    19. The year 2020 was significantly impacted by lower shipments to our wholesale customers and store closures within brand operations due to COVID-19. Gross margin increased due to higher full-price ASP, net of discounts. Additionally, the favourable impact of growth in e-commerce.
    20. The business and wholesale partners experienced temporary store closures and stores operating on reduced hours, as a result of mandatory lockdowns across North America, EMEA and APLA geographies. 
    21. The future growth of the athletic footwear industry is to be seen towards the women footwear segment, due to increased participation of women in sports.
    22. The quantity of footwear sold by Nike, market leader in sportswear is 28 billion dollars, which is more than twice that of the apparel and equipment combined.
    23. In 2022, with people going back out to workout, with reduced Covid numbers, would sell active wear such as shorts and tees for men and sports bras and skirts for women respectively.
    24. The push towards sustainability is more important than ever, with the COP26 Climate Change Conference in 2021, companies are putting in efforts to decarbonize as they seek to differentiate their offerings in the apparel segment.
    25. Social media serves as an effective platform for influencers and digital communities to connect between consumers and commerce, thus is used to promote online sales with digital marketing.
    26. It is estimated that XX% of consumers use online channels to search for products, where nearly 45% of sales in 2021 were made using online channels even after stores reopened after lockdowns.
    27. During the pandemic, there has been a shutdown of multiple retail stores from brands like ASICS, Nike, etc. in 2021, which show the reduced retail sales.
    28. Nike is willing to unify investments in data and analytics, demand sensing, insight gathering, inventory management and other areas against an end-to-end technology foundation to accelerate digital transformation.
    29. Anta Sports Products Limited, has seen strong growth both in revenue and profits, ranking among the top three sportswear brands in the world by market valuation, propelled by its multiple brand strategy.
    30. The Marketing Expense is a significant part of the operating expenses across all the sportswear manufacturers and contains various forms such as, Advertisements, Celebrity partnerships, Brands ambassadors, Events, etc.

     

    INTRODUCTION

    The integration of digital technology into many sectors of company, resulting in critical operational changes that influence customer value, is referred to as digital transformation. This is one of the most important issues of the twenty-first century.

     

    The global sports clothing industry’s digital disruption helps firms to be more efficient while also increasing consumer connections. Because digital innovation has such a big impact on the sports apparel sector, it is critical for firms to understand their consumers’ digital demands and connect those needs with their strategy.

     

     

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    Sports are popular with the majority of the populace. Adidas intended to focus on several categories of sports on a local level in 2019. Adidas should follow this technique if they want to be the top brand on the market.

     

    Football’s growing popularity in many parts of the world is driving up demand. In order to accomplish the necessary heat and moisture dissipation, active sportswear textiles are carefully created in terms of the geometry, packing density, and stratum of the component fibres in yarn, as well as their structure.

     

    Specialized sportswear, such as compression athletic gear, and other new items, such as biomimetic swimwear, can improve a player’s performance.

     

    Specialized goods are constantly being developed, with performance, quality, and design, rather than price, appearing to be the deciding factors.

     

    The need for the online distribution channel in the industry is increasing as internet penetration rises. Smartphones are quickly becoming a popular platform for e-commerce expansion. By cooperating with other e-commerce channels or developing their own websites, online distribution channels provide attractive prospects for businesses to extend their market presence globally.

     

    GLOBAL SPORTSWEAR MARKET DEVELOPMENTS AND INNOVATIONS

     

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    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 Fila introduces size-inclusive activewear collection Sportswear specialists Fila have launched the size-inclusive womenswear collection Fila Performa, which offers up a selection of technology-enhanced activewear designed to heighten performance. Global This would enhance operational capability

     

    GLOBAL SPORTSWEAR MARKET DYNAMICS

     

    SI No Timeline Company Developments
    1 July 2021 PUMA Puma and AC Milan revealed the new home and away kits to be worn by men,  women and youth teams throughout the 2021-22 season.
    2 July 2021 PUMA Global Sports Company PUMA and Borussia Dortmund have revealed the new Dortmund away kit for the 2021-22 season.
    3 April 2021 PUMA Puma and BVB have launched their special edition retro jerseys in black and yellow in honor of their success in the 90’s, while the BVB captured UEFA champions league and two German championships.

     

    Sports gear is regarded obnoxious as a fashion item. Consumers’ choices in sports gear are heavily influenced by brand names. They not only represent the individual consumer’s preference, but also, in a cohesive group, they plainly express group membership and shared views.

     

    As a result, normative influence is predicted to have an impact on customer behaviour while purchasing sports clothing. However, if the product is relatively new to the market, its influence may be restricted.

     

    Because of the changing lifestyle and rising fitness trend, the demand for sportswear is projected to skyrocket. The industry for sustainable sports clothing is gaining traction and drawing a large number of clients.

     

    The growing popularity of athleisure clothing in India, China, Japan, and other APAC nations is due to the benefits it gives to consumers. Athleisure clothing is being introduced by retailers such as Amazon, which are adding a new product to their inventory.

     

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    The current athleisure clothing industry trends are producing significant income for numerous businesses. Women’s increased engagement in sports offers attractive chances for athletes to advance in their careers.

     

    A growth in sports involvement among the general public, as well as a rising acceptability of sports gear in everyday wear, are driving demand for sports apparel. Aside from athletes who purchase sports gear to improve their performance in sporting activities, some customers purchase sports apparel for usage in non-sporting activities.

     

    Sports clothing businesses have responded by investing a significant amount of money on advertising to sway consumer preferences. Global companies such as Nike and Adidas are leading the charge. A huge number of newcomers, such as Li-Ning from China, are also investing heavily in advertising to raise brand awareness and market share.

     

    GLOBAL SPORTSWEAR MARKET SEGMENTATION

    The Global Sportswear Market can be segmented into following categories for further analysis.

     

    By Sports Type

    • Soccer
    • Basketball
    • Baseball
    • Cricket
    • Field Athletics
    • Others

     

    By Distribution Channel

    • Speciality Stores
    • Supermarket
    • Hypermarket
    • Large Scale Stores
    • Online Retail Stores
    • E Commerce Stores
    • Other Channels

     

    By End Usage Application

    • Professional Sports
    • Daily Use Sports
    • Commercial Sports
    • Personal Usage Sports

     

    By Regional Classification

    • Asia Pacific Region – APAC
    • Middle East and Gulf Region
    • Africa Region
    • North America Region
    • Europe Region
    • Latin America and Caribbean Region

     

    RECENT MARKET TECHNOLOGICAL TRENDS IN GLOBAL SPORTSWEAR MARKET

     

    SI No Timeline Company Developments
    1 August 2021 NIKE Nike has released the classic edition uniforms for the three franchises for NBA’s 75th Anniversary Edition.
    2 August 2021 PUMA Puma rewrites the rules and to launch the new re-interpretations of the clubs with the new third kits.
    3 July 2021 NIKE Nike has designed away kits for the 2021-2022 season in order to bring the fans even closer to their clubs.
    4 July 2021 PUMA Puma has revealed the new home and away kits for Valencia for the upcoming 2021-2022 season.
    5 June 2021 NIKE Nike has released the FC Barcelona 2021-2022 home kits and the design of reimagined stripe layout and material which is made of 100% recycled polyester fabric.
    6 May 2021 NIKE The 100% recycled polyester fabric design has been incorporated in Chelsea’s 2021-22 home kit.
    7 April 2021 NIKE For the 25th season, Nike designed three new uniforms for each of the 12 teams in the WNBA. 
    8 April 2021 NIKE FC Internazionale Milano releases its I M collection, which includes the team’s special edition jersey which is designed by NIKE.

     

    Various levels of integrated and creative research is focusing on producing clothing that has the benefits of acupuncture therapy. The garments apply pressure to specific areas on the wearer’s body to relieve discomfort and improve performance.

     

    Athletes can benefit from such clothing in terms of blood circulation and hunger control. Heart rate, pressure, posture, skin temperature, and breathing rate can all be monitored using smart fabrics with embedded sensors in sportswear.

     

    Furthermore, data from mobile applications may be utilized to analyse performance using algorithms and provide necessary feedback. Athletes and players may benefit from modern sportswear not only in terms of performance, but also in terms of gaining superior insights.

     

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    Nanotechnology, microfibers, and insulators are just a few of the well-known technologies utilized in sporting apparel. And these garments are no longer exclusive to sportsmen and sportspeople.

     

    However, as people all over the world become more interested in adventure and sporting activities for fitness, athletic gear is becoming more fashionable. Adidas, Nike, Puma, Reebok, Under Armour, Asics, Lululemon Athletica, Hanes Brands, VF Corporation, Quicksilver, and Bauer Performance are some of the main competitors in this category with a global presence.

     

    Consumers in emerging nations are becoming more health-conscious, and their incomes are rising, playing sports gear a thriving and appealing industry. A slew of new technologies are causing a stir in the market.

     

    Compression garment is one of them. Medical compression stockings, which are worn over the leg to generate a gradient and regulated compressive force, were the first to apply this principle. In post-operative patients, this increases blood flow, reduces vein stasis, and avoids thrombosis. After a series of tests and studies, it was shown that compression clothing can improve performance in a variety of sports.

     

    Within Roblox, an online platform that allows users to explore a virtual world and play games, Puma has unveiled a new sports-based experience.

     

    ‘Puma and the Land of Games,’ created in collaboration with Wonder Works studio, is an explorable experience in which users may unlock new zones and get access to virtual Puma athletic gear to decorate their in-game avatars.

     

    Items make advantage of Layered Clothing, a novel Roblox technology that allows users to wear virtual outfits on any sort of avatar.

     

    Puma is ecstatic to deliver the Roblox community an interesting and enjoyable sports experience. Players may express their originality and flair with the new Layered Clothing technology, allowing the company to build more synergies between the physical and digital worlds.

     

    Visitors to the online environment can also participate in immersive micro games and training exercises that are modelled after an athlete’s training routine.

     

    Puma is the most recent brand to join Roblox’s metaverse, which appeals mostly to younger Gen Z customers. Clarks, a footwear brand, recently released a Roblox sports experience, following in the footsteps of Nike, Tommy Hilfiger, and Ralph Lauren, which all launched Roblox experiences.

     

    COMPETITIVE LANDSCAPE

     

    SI No Timeline Company Sales
    1 Q2-2021 Adidas The net sales of Adidas at the end of March 2021 was €5.26 billion and in the previous year the net sales was €4.38 billion.
    2 Q3-2021 UnderArmour At the end of the third quarter the net revenue of Under Armour was $1.54 billion and in 2020 the net revenue was $1.433 billion.
    3 H1-2021 Lining At the end of June 2021, the revenue of Lining was RMB 10.1 billion and in the previous year the revenue was RMB 6.18 billion.
    4 Q1-FY 2022 Nike Inc The three month ended in August 2021, the revenue of Nike was $12.2 billion and in the previous year the revenue was $10.5 billion.
    5 Q3-2021 Lululemon At the end of the third quarter the net revenue of lululemon was $1.45 billion and in 2020 the net revenue was $1.11 billion.
    6 Q3-2021 Columbia Sportswear Company The net sales of Columbia Sportswear at the end of the third quarter was $804 million and in 2020 the net sales was $701 million.
    7 Q3-2021 Puma At the end of the third quarter the sales of Puma was €1.9 billion and in the previous year the sales was €1.58 billion.
    8 Q3-2021 VF Corporation The net revenue of VF Corporation at the end of third quarter was $3.19 billion and in 2020 the net revenue was $2.6 billion.

     

    However, the disruptive nature of the chemical sector is an extremely high share of the projected changes in the future years. Many of these predicted trends are directly connected to ongoing business model digitization.

     

    Many development advancements are also evidently related to sustainability issues and ideas of the cycle economy (e.g., renewable raw materials, renewable energy, carbon capture, biorefineries, bioplastics). They have a massive influence on technologies, product portfolios, structures of value creation, and business models in the chemical industry, as well as on its clients and suppliers.

     

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    Nike International has been focused upon development of the athlete experience in terms of better mobility and movement solutions. Nike AeroAdapt is one of the adaptive technologies being developed in the market at varied times of integration. Air flow in garments usually reduces when you sweat because the fabric becomes saturated, but it rises with Nike AeroAdapt.

     

    Because when AeroAdapt detects perspiration, the material’s moisture-reactive threads open the cloth, allowing body heat to escape and fresh air to enter. The more you moisten the cloth, the more it opens up. The vents seal when the moisture evaporates, trapping body heat and preventing the athlete from being cold or staying wet throughout a warm-up or cool-down.

     

    Because the technology reacts to the person wearing it, factors such as sweat and the surroundings, as well as personal body temperature, can influence when the vents open.

     

    Adidas Group has been developing new multi-sport-based apparel which is a smart technology fabric approach. It is one of the most advanced system of responsive apparel shielding athletes from the elements that is created for both elite and everyday athletes, the technology is set to perform on the hottest stage in sport during the summer seasons.

     

    The READY Product uses responsive fabrics and intuitive design to help athletes perform. The READY apparel uses a smart layering system that allows athletes to build modular sports outfits that address seasonal needs, selecting different pieces that can be worn together without bulking at the seams and which allow for maximum movement, comfort, and ventilation.

     

    COMPANIES PROFILED

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2022-2027
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027
    19 Market Segmentation, Dynamics and Forecast by Application, 2022-2027
    20 Market Segmentation, Dynamics and Forecast by End use, 2022-2027
    21 Product installation rate by OEM, 2022
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2022
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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