The global sports apparel market is expected to grow at a CAGR of 4.9 per cent to reach $247.4 billion by 2027, says ResearchAndMarkets.com study. It says, discount stores are expected to grow at 4.7 per cent CAGR to $ 81.2 Billion by the end of the analysis period. Brand outlets segment is expected to grow at 4.5 per cent CAGR for the next seven-year period.

Growth in the world`s second largest economy, China is expected to trail at a CAGR of 7.8 per cent from 2020-2027 to reach $ 51.9 billion by 2027. Other markets like Japan and Canada are forecast to grow at 2.8 per cent and 3.9 per cent respectively from 2020 to 2027 while Germany is forecast to grow at approximately 3.5 per cent CAGR.

In the global Supermarkets & Hypermarkets segment, US, Canada, Japan, China and Europe will grow at 4.8 per cent CAGR during the forecast period. These regional markets will reach a projected size of $42.6 nillion by 2027. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach $ 33.4 billion by 2027, while Latin America will expand at a 5.5 per cent CAGR through the analysis period.