Outdoor Sports Apparel Market Expected to Reach $17,154 Million by the End of 2018 - 2025
News Provided by Allied Analytics LLP
Published on July 25th, 2022
The global outdoor sports apparel market has witnessed significant growth owing to increase in interest of people toward adventure tourism. These days, individuals, love to explore different avenues to gain deeper experience and absorb new cultures worldwide. They like to invest more time with family owing to increasingly hectic lifestyles. To pick up an important and exceptional experience, individuals progressively opt for unique trips which include cultural visit, cruising, and outdoor sports activities. This growth in interest of consumer toward adventure tourism and other outdoor sports activities support the growth of the outdoor sports apparel market
According to a new report published by Allied Market Research, titled,"Outdoor Sports Apparel Market by Mode of Sale and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global outdoor sports apparel market was valued at $12,400 million in 2017 and is projected to reach $17,154 million by 2025, registering a CAGR of 4.1% from 2018 to 2025. Outdoor sports apparel is mainly worn during workout sessions or while playing outdoor sports. These clothes enhance the performance during sports or fitness physical activities by improving the body movement as compared to regular clothes. They are specially designed to provide comfort during exercise or sports also sometimes these can be worn as casual fashion clothing.
Increase in disposable income and rise in fitness consciousness customers are the factors that fuel the global outdoor sports apparel market growth. These factors have increased the consumer participation in number of outdoor activities such as hiking, camping, mountaineering, cycling, canoeing, caving, kayaking, rafting, rock climbing, running, sailing, skiing, sky diving, surfing, and others. In addition, upsurge in participation of the youth and old population in adventurous physical activities propel the demand for the sports-related products, thereby driving the growth of the outdoor sports apparel market.
However, shift in trend toward sportswear and availability of low quality and counterfeit products restrict the growth of the outdoor sports apparel market size. On contrary, the rise in demand for trendy and fashionable sports apparel leads to the launch of new products to cater to the demand for the customers. The increase in demand for trendy fitness apparel by the middle-aged individuals segment has increased in the past few years, which is anticipated to provide growth opportunities for the outdoor sports apparel market.
Key Findings of the Outdoor Sports Apparel Market:
Based on mode of sale, the discount stores segment accounted for around 28% of the outdoor sports apparel market share in 2017, growing at a CAGR of 3.7% from 2018 to 2025.
Based on mode of sale, the brand outlet segment accounted for around 22% market share, growing at a CAGR of 3.2% from 2018 to 2025.
Based on end user, the men segment accounted for 52% share of outdoor sports apparel market in 2017 and is expected to growth at the CAGR of 2.8%.
Based on end user, the women outdoor sports apparel segment occupied around 37% of the market share and is expected to grow at the highest CAGR of 5.5%.
Based on region, North America accounted for a prominent market share in 2017 and is anticipated to grow at a CAGR of 3.2% throughout the forecast period.
North America and Europe jointly accounted for about 60.9% share of the global outdoor sports apparel market in 2017, with the former constituting around 32.1% share. From outdoor sports apparel market growth perspective, Asia-Pacific and LAMEA are the two potential markets expected to grow at significant CAGRs of 6.1% and 4.6%, respectively, during the forecast period.
Some of the key players analyzed in the outdoor sports apparel industry are The North Face, Patagonia Inc., Columbia Sportswear Company, Kathmandu Limited, Woolrich Inc., Nevisport Ltd., Cotswold Outdoor Ltd., Mountain Warehouse Ltd., Under Armour, Inc., and Snowgum.
This article was originally posted on EIN News.