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Global Sports & Fitness Clothing Strategic Markets Report 2023: Market to Reach $270.7 Billion by 2030 from $182 Billion in 2022 - Innovations in Sports Functional Clothing Promises Opportunities
Global Market for Sports & Fitness Clothing
Dublin, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The "Sports & Fitness Clothing: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Sports & Fitness Clothing Market to Reach $270.7 Billion by 2030
The global market for Sports & Fitness Clothing estimated at US$182.8 Billion in the year 2022, is projected to reach a revised size of US$270.7 Billion by 2030, growing at a CAGR of 5% over the analysis period 2022-2030.
Sports Apparel, one of the segments analyzed in the report, is projected to record 5.2% CAGR and reach US$227.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Fitness Clothing segment is readjusted to a revised 4.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $64.9 Billion, While China is Forecast to Grow at 8.2% CAGR
The Sports & Fitness Clothing market in the U.S. is estimated at US$64.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$37.1 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 3.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Key Metrics
Report Attribute | Details |
No. of Pages | 622 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $182.8 Billion |
Forecasted Market Value (USD) by 2030 | $270.7 Billion |
Compound Annual Growth Rate | 5.0% |
Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Sports & Fitness Clothing - Global Key Competitors Percentage Market Share
How the COVID-19 Pandemic Destroyed the Global Economy
Social Distancing, Bans on Tourism, Rising Unemployment & 'Decimated' Consumer Confidence Together Bring Down the Sports & Textile Industries
Sports Industry Reels Under the Impact of Social Distancing Measures as the New Way of Life
The Worst Affected by the Pandemic, the Struggling Sports Industry Destroys All Hopes for Normalcy for All in the Value Chain
Sharp Decline in the Number of Tourists Impacts Sports Tourism Related Retail Trade
Textile Industry Grapples With Supply Chain Disruptions & Poor Consumer Spending
A Massively Bleeding Global Apparel Industry Asphyxiates the Sports & Fitness Clothing Market
Sports & Fitness Clothing Fails to Cope With the Strong Double-Whammy of Headwinds Sweeping Through the Sports & Textile Industries
Rising Levels of Unemployment Threatens to Shrink the Middle Class Population, Impacting Industries Dependent on Discretionary Income: Unemployment in the U.S. (In Million)
Rapidly Eroding Consumer Confidence Thwarts Hopes for a Quick Recovery
Looking Beyond the Current Bleak Outlook, the Pandemic is Creating a Strong Platform for Health & Fitness
Increased Emphasis on Health & Fitness Post COVID-19 Promises to Make Amends for the Damages Sustained in Year 2020
With Workouts Shifting to Consumer Homes, Demand for Indoor Sportswear to Get a Fresh Lease of Life in the Post COVID-19 Period
Fitness Routine Changes of People as A Result of COVID-19
An Opportunity in Crisis! Increase is Sales of Fitness Equipment Brings the Promise of Increased Spending on Fitness Apparel When Economic Conditions Improve
Sports & Fitness Clothing: Definition & Scope
Recent Market Activity
Innovations
World Brands
FOCUS ON SELECT PLAYERS (Total 556 Featured)
adidas AG
Reebok International Limited
Anta Sports Products Limited
ASICS Corporation
Columbia Sportswear Company
Elite Sportswear, LP.
Fila
Gap, Inc.
Hanesbrands Inc.
Hosa International Ltd.
Kappa
Li Ning Company Limited
lululemon athletica
Mizuno USA, Inc.
NIKE, Inc.
Patagonia, Inc.
Peak Sport Products Co., Ltd.
prAna
Puma SE
TerraFrog Clothing Corporation
Under Armour, Inc.
VF Corporation
MARKET TRENDS & DRIVERS
Digitalization of the Fitness & Fashion Industry to Accelerate in the Post COVID-19 Period
Connected Clothing to Arrive Much Earlier Than Previous Forecasts
Innovation in Sports Functional Clothing Breaks Loose, Promising a Robust Future Filled With Opportunities
Moisture Management Clothing Receives Special Focus
All Things Anti-Microbial & Anti-Virus Gets a Boost Due to COVID-19 Pandemic
COVID-19 Fast Tracks Transition to Sustainable Clothing & Fashion
Here's Why the Environment & Sustainability Will be Top Priorities After the Pandemic
COVID-19 Pushes Sustainability From Just Plans & Strategies to Action
Here's What to Expect in the Sustainable Clothing & Fashion Space
Textile Recycling Gathers Steam
Innovations in Smart Fabrics Provide a Window Into the Exciting Future of Fashion
Athleisure Wear Will Continue to Outpace the Rest of the Apparel Categories in the Post COVID-19 Period
The Epic Moment in Human History Where Sports Meets Fashion
3D Printing Promises to Revolutionize the Future of Clothing Manufacturing
Women Represent a Large & Lucrative Consumer Cluster. Here's Why
COVID-19 Thrusts e-Commerce/Online Retail into the Spotlight
Social Distancing Mandated by COVID-19 Leads to Massive Consumer Migration to Online Platforms
For more information about this report visit https://www.researchandmarkets.com/r/5ot9gw
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