Global sportswear market to reach USD 305.67 billion by 2030, growing at 6.72% CAGR. In 2022, it was valued at USD 182.01 billion and is expected to reach USD 193.89 billion in 2023. Popularity of sportswear due to breathability and sweat-wicking capabilities drives market growth. The "Sportswear Market, 2023-2030" report by Fortune Business Insights™ analyzes market trends, growth factors, and strategies of key players.
Factors contributing to market growth include increasing female participation in sports like basketball, athletics, and football, as well as rising popularity of events such as Women’s FIH Hockey World Cup and FIFA Women’s World Cup.
Counterfeit products in several countries pose challenges. COVID-19 pandemic negatively impacted sportswear industry with decreased sales and delayed shipments due to lockdowns. Market is expected to recover as precautions ease. Market segmented into apparel, footwear, and wearables. Apparel dominates due to high demand in activities like tennis, basketball, and football.
Men's segment shows significant growth with outdoor activities like trekking and cycling. Distribution channels include retail stores and e-commerce. Retail stores to expand due to global popularity of sportswear brands.
Geographically, market divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Sportswear market poised for robust growth, driven by demand for products and increasing women's sports participation.
