Sports apparel is a specially-designed clothing for sports person. Sports wears are fashionable and comfortable for any kind of sports and physical activities such as walking, running, and swimming.
Many types of materials such as microfiber, spandex, cotton, polyester, nylon, and Gore-Tex are used for designing sports apparel. Cloths made of such materials help in making workout sessions contented by reducing perspiration and supporting body movements.
Some Factors Enhancing the Growth of the Market
Sports apparels are getting popularity among the young urban population. Because of the prevalence of more and more chronic diseases, such as type 2 diabetes and obesity, people are becoming more concerned about their health and fitness. This is one of the factors enhancing the demand and growth of the sports apparel industry.
Moreover, sportspersons are advised to wear the right sportswear to improve performance in the field. Another main reason behind the demand for sports apparel is the benefits it offers during workout and sports. People opt for exercise and sports activities to reduce work-related stress and strengthen health and immunity.
These are some of the factors contributing to the growth of the global sports apparel market.
Recent Trends and Developments of the Sports Apparel Market
According to a recent report by Research Dive, the leading players of the global sports apparel market include Adidas AG, Fila, Nike, Inc., Columbia Sportswear Company, New Balance, PUMA SE, Lululemon Athletica Inc., Umbro, Ralph Lauren Corporation, and Under Armour, Inc.
These industry players are investing a lot of efforts on the research and development of smart and unique strategies to sustain the growth of the market. These strategies include product launches, mergers and acquisitions, collaborations, partnerships, and refurbishing of existing technology.
Some of the recent developments of the market are as follows:
- As per a recent press release, in April 2019, Coca-Cola, the American beverage company partnered with FILA, a sportswear manufacturer, to unveil an apparel and footwear collection. The collection includes 49-pieces of apparel for men and women.
The 18-piece range for women consists of joggers, hoodies, biker shorts, tanks, sweatshirts, tees, rugby polos, and baseball t-shirts. The entire collection displays a classic color palette of brown, black, white, and Coke® red.
The 15-piece apparel collection for men includes regulars such as shorts, tees, tanks, hoodies, sweatshirts, and a rugby polo. The color palette consist of navy, grey, white, and Coke red.
- According to a recent news, in May 2021, Ralph Lauren, the world-renowned fashion company based in the USA, entered into a partnership with Major League Baseball (MLB™), a professional baseball organization of America. The purpose of this partnership is to design three special collections in association with some of the most iconic teams of baseball. As mentioned in the news report, the first capsule will consist of teams - Los Angeles Dodgers™, the New York Yankees™, St. Louis Cardinals™, and Chicago Cubs™. Later, the collection will include more teams.
- As per a report, in June 3, 2021, PUMA, the leading sports company, added the Mirage Sports to its Mirage franchise. This contemporary shoe design is created with mishmash of prompts from the archive and the bouncing, trippy DJ culture.
Impact Analysis of Covid-19 on the Industry
The global sports apparel market has experienced a drastic downfall because of the lockdowns and restrictions across the countries. Supply chain and manufacturing processes were stopped for several months in order to curb the spread of the virus. Gyms and health and fitness centers were closed for many months like other public places to prevent gathering of people. The demand of sportswear was declined as people were stuck in house and regular active wear started getting more preference.
Moreover, international sports events including The MotoGP World Championship, Euro 2020 Football Championship, 2020 Summer Olympics, 2020 World Athletics Indoor Championships, Wimbledon Tennis Championship, and Formula One, were either postponed or cancelled due to the pandemic. This is one of the major reasons behind the huge revenue loss in the market of sports apparel.
A high portion of the urban population- locked inside homes because of the lockdown – are focusing on cutting unnecessary expenditures as there are crisis related to job loss and demotion during the pandemic. These factors are impacting the sports apparel market in a negative way.