Sports and Fitness Wears Global Market Report 2024

The sports and fitness wear market size has grown strongly in recent years. It will grow from $67.58 billion in 2023 to $71.48 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth observed in the historic period can be attributed to several key factors. These include heightened awareness regarding fitness and health, the pervasive influence of the athleisure trend, endorsements by celebrities and influencers, continuous technological advancements, and the rapid expansion of e-commerce platforms.

The sports and fitness wear market size is expected to see strong growth in the next few years. It will grow to $89.94 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The anticipated growth in the forecast period can be attributed to several factors, including a focus on sustainability and ethical practices, the ongoing process of digitalization and personalization within the industry, the exploration of emerging markets, the influence of health and wellness trends, and ongoing innovation in performance wear. Major trends expected in the forecast period encompass the rise of direct-to-consumer (DTC) brands, a heightened focus on inclusivity and diversity, the expansion of sustainable product lines, the integration of augmented reality (AR) and virtual reality (VR) technologies, as well as advancements in health monitoring and fitness tracking capabilities.

The increasing emphasis on sports participation is driving growth in the sports and fitness wear market. Sports participation encompasses individuals engaging in various sports and physical activities, whether organized or recreational. Sports and fitness wear offer practical benefits such as performance enhancement, injury prevention, and psychological and social advantages for athletes. For example, data from the Sports & Fitness Industry Association (SFIA) in February 2023 revealed that 236.9 million Americans, constituting 77.6% of the population, participated in at least one sport activity, marking a 1.9% increase compared to the previous year. Notably, pickleball emerged as the fastest-growing sport, with participation soaring by nearly 85.7% year-over-year and an astounding 158.6% over three years. Consequently, the growing focus on sports participation is expected to fuel the expansion of the sports and fitness wear market.

Key players in the sports and fitness wear market are concentrating on offering personalized activewear options, such as customized physical running shoes, to cater to individual preferences and provide unique consumer experiences. Customized physical running shoes are tailored to meet specific customer needs or preferences. For instance, in November 2022, ASICS Corporation, a Japanese sportswear company, introduced the ASICS x Solana UI Collection, featuring custom-made GT-2000 11 running shoes. These shoes, available in two designs, light mode and dark mode, are designed for everyday activity and can be purchased globally using USDC on Solana Pay. This collection is part of ASICS' Web3 strategy, which aims to create premier experiences that engage the global Web3 community.

In September 2023, Agilitas Sports, an Indian sportswear startup, completed the acquisition of Mochiko Group through an all-cash transaction. This strategic move is intended to bolster Mochiko's business by investing in technology, capacity, and product quality. Mochiko Group is an Indian sports footwear manufacturer.

Major companies operating in the sports and fitness wears market are Nike Inc., Adidas AG, Decathlon Group, The Gap Inc., Kappa, VF Corporation, Puma SE, Anta Sports Products Limited, Lululemon Athletica Inc., Skechers USA Inc., Ralph Lauren Corporation, Hanesbrands Inc., Under Armour Inc., New Balance Athletics Inc., Li Ning Company Limited, ASICS Corporation, Columbia Sportswear Company, Deckers Outdoor Corp., Fila Holdings Corp., Wolverine World Wide Inc., Mizuno Corporation, Brooks Sports Inc., Iconix International, Reebok International Limited, Patagonia Inc., Karhu Holding BV, Umbro International Limited.

North America was the largest region in the sports and fitness wears market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports and fitness wears market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the sports and fitness wears market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Sports and fitness wear encompass apparel and footwear meticulously crafted for athletic pursuits, sports, and fitness regimens. These garments are intricately designed to offer comfort, support, and performance-enhancing attributes tailored to the requirements of athletes and fitness aficionados.

The primary product classifications within sports and fitness wear comprise top wear, bottom wear, and support items. Top wear encompasses attire worn on the upper body, engineered to deliver comfort, breathability, and moisture-wicking capabilities during physical exertion. These garments find application across various domains including outdoor activities, sports-inspired endeavors, and performance-driven pursuits, catering to both men and women.

The sports and fitness wear market research report is one of a series of new reports that provides sports and fitness wear market statistics, including sports and fitness wear industry global market size, regional shares, competitors with a sports and fitness wear market share, detailed sports and fitness wear market segments, market trends and opportunities, and any further data you may need to thrive in the sports and fitness wear industry. This sports and fitness wear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The sports and fitness wear consists of sales of jerseys, shorts, tracksuits, leggings, sports bras, and specialized clothing for specific sports such as cycling, basketball, and baseball. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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