Sports apparel industry market share today observes demand as youth decide to live an active lifestyle and stay fit.
What do soccer team back in high school, NBA teams in North America and yoga moms share in common? Unknowingly they all are shaping the landscape for sports apparel wear market worldwide. According to a research conducted by Morgan Stanley the market for sports apparel experienced a 42 percent hike and garnered over $270 bn in a sale over last 7 years. This winning streak has now raised the eyebrows of many key market players. It has also resulted in investor scepticism too.
Research analysts at Allied Market Research (AMR) eyeing the recent trends, share and size as well as segmentation are of the view that the growth prospects of the industry are strengthening and not weakening. They say much has happened due to increasing demand for branded apparels in health and fitness segment for sports participants and adults interested in the sector. Year 2012, 2013, 2014 and 2015 has also favoured women and water and athletic apparel market size.
Customer Preference Shapes Business Performance
It’s often the sports an individual watches or plays that shape what they actually wear. Increasing focus on staying fit and healthy in Europe has brought about a dramatic lifestyle shift lifestyle mainly among youth. Sports participation among school going children in North America today is over 30 percent. It has nearly doubled among school girls. Industry analysis carried by many sports league in the United States indicates that buyer’s interest in certain sports is influenced by the fact that they had played when they were young. AMRs, athletic apparel market analysis shows when customers mature, they gradually begin shopping for prime apparel.
Demographics of Sports Apparel and Accessories Market
The United States occupies a major market share for active wear in the world. It accounts for close to 35 percent of the total sales. Researchers at AMR say that an annual sale in Europe over the coming five to six years will be mainly driven by the recent development in Eastern Europe, Africa and Middle East. In the meanwhile, growing markets in regions such as LAMEA and Asia where penetration of sports clothing has been relatively low to US has enough room for growth and is capable of delivering best gains. India expects uptick from world cup in 2016. Additionally, wholesale sports apparel and shoes market in Shenzhen offers a great bargaining opportunity. Industry experts analysing sports apparel companies market share highlights China, especially would be a major region to watch. Chinese government is emphasizing on the need to back youth participation in athletics. They are spending generously in developing sports infrastructure and overall business with the aim to get about 500 citizens to exercise regularly.
Athletic apparel market data, in a report titled “World Sports Apparel Market - Opportunities and Forecasts, 2014-2020” published by Allied Market Research offers an insight into the sector. The study weighs up on the business performance in countries such as the US, Brazil, Australia, China and India among others. The study indicates the sector will register a CAGR of 4.3% by 2020 .Thorough analysis of the market trends, growth rate, key trends, drivers, opportunities and challenges form an important part of the research. SWOT analysis of prominent leaders including Adidas, Under Armour, Actions and other helps business understand their effective marketing strategies.
