Activewear Apparel Market Size to Grow by USD157.1 Bn: Technavio
04 April 2022: The activewear apparel market size is estimated to grow by USD 157.1 bn from 2019 to 2024. Moreover, the growth momentum of the market is expected to accelerate at a CAGR of 11% during the forecast period.
The use of new technologies and product innovations have enabled manufacturers to come up with activewear apparel that is innovative in terms of design, quality and features. Vendors in the global activewear apparel market are extending their product lines to include apparel for all age groups and different types of athletic activities. Increasing purchasing power, along with the rising preference for innovative, comfortable, and lightweight activewear apparel, is increasing the sales of such apparel. Product premiumization is increasing the sales of activewear apparel. In addition, premiumization enables manufacturers to improve customers’ engagement with their brands and products. This will play a major role in driving the demand for activewear apparel during the forecast period.
The availability of counterfeit activewear apparel will challenge the activewear apparel market during the forecast period. The presence of counterfeit activewear apparel leads to an uneven competitive scenario, price standardization, and market share erosion. Vendors that offer counterfeit activewear apparel sell their products at very low prices. The counterfeiting of activewear apparel is higher in APAC compared to other regions in the world.
The activewear apparel market report provides complete insights on key vendors, including adidas AG, ASICS Corp., Columbia Sportswear Co., Dick’s Sporting Goods Inc., G-III Apparel Group Ltd., Gildan Activewear Inc., Hanesbrands Inc., Nike Inc., PUMA SE, PVH Corp. and VF Corp.
The competitive scenario provided in the activewear apparel market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
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