SPORTS APPAREL MARKET - GROWTH, TRENDS, AND FORECASTS (2023 - 2028)

 Over the next five years, the market for sports apparel is anticipated to grow at a CAGR of 7.55 percent.

 Consumers are increasingly incorporating sports and fitness activities into their daily routines due to factors including improving health and self-confidence, a desire to live an active lifestyle, and a desire to look fit. Over the course of the forecast period, the market is anticipated to be driven by women's increasing participation in both domestic and professional sports and fitness activities. For instance, 19.6% of women participated in sports, exercise, and leisure activities every day in 2021, up from 17.2% in 2018, according to the Bureau of Labour Statistics. Women's interest in sports is anticipated to be further fueled by the expanding intersection between fashion and sports, which has led to a rise in the availability of stylish sports apparel.

Global sales of sports gear have been boosted by the escalating popularity of athletes on social media and the rising engagement in sports and leisure activities across all demographics. Sports gear sales have seen significant increase and are anticipated to keep growing during the projection period. Additionally, buyers are increasingly looking for designer sportswear with elements of athletic design in keeping with the athleisure trend. Worldwide demand for sports apparel is also driven by the ongoing shift towards active lifestyles.

With a bigger percentage of their youthful population partaking in sports and other leisure activities in nations like China and India, the Asia-Pacific region is the one where the sports apparel market is expanding the fastest. The demand for sports apparel in the region is anticipated to rise as a result of consumers' growing desire for international brands, rising disposable income, and aspirations for better lives. China is now leading the market in the area and has the potential to overtake the United States as the largest market globally in the future, supported by government measures to promote active involvement in sports.

Major Players: Adidas AG, Nike Inc., Puma SE, Under Armour Inc., Lululemon Athletica, Columbia Sportswear Company, Anta International Group Holdings Ltd, Li Ning Company Limited, VF Corporation, and Amer Sports Corporation

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