Global Sports Apparel Market is expected to generate revenue of $184.6 billion by 2020, growing at a CAGR of 4.3% during the forecast period, 2015-2020, according to new research published by Allied Market Research. Growing health awareness, increasing disposable income and a surge in female participation in sports are the major factors driving the growth of the sports apparels market.
The global sports apparel market is categorized, based on end users, into apparels for men, women and kids. The men segment dominates the sports apparel market, constituting around 52% of the total market revenue. The women segment is the second biggest contributor, expected to grow at a relatively higher CAGR of 5.7% during the forecast period, on account of the growing interest and participation of women in different sports activities.
Based on the mode of sale; retail segment accounted for significant market share in 2014. Some of the prominent companies have focused on opening retail stores in the emerging economies to expand their geographical presence and increase their customer base. The retail segment comprises of supermarkets, brand outlets and discount stores. Online platforms, especially e-commerce sites, have exhibited a robust growth across the globe, owing to the ease of accessibility and availability of a wide range of products at a competitive price. The online mode of sale segment is expected grow at a CAGR of 9.5% during the forecast period.
Key Findings of Sports Apparel Market: