Performance apparel provides practical comfort to sportspersons. The product is extensively used by athletes. These apparels are also sold to both individual and business- to-business consumers at retail & wholesale prices respectively. Escalating standard of living along with rising disposable earnings is significantly boosting the global market demand. In addition, increasing demand for comfortable and superior performance apparels, essentially for sports is likely to propel market growth.
The global performance apparel market is characterized by types, modes, end-user, and regions. On the basis of types, the market is segmented into sportswear and protective clothing. Sportswear accounted for a larger share of the market. Health awareness coupled with rising sports participation across the globe will aid the segment demand.
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Based on mode of sale, the market is divided into retail and online mode. Retail mode involves brand outlets, discount stores, and supermarkets. On the other hand, e-commerce sites have experienced notable demand, thus, driving the online mode. The growth of e-commerce sites could be credited to ease of availability and accessibility of broad range of products at affordable prices.
End-users are fragmented into three segments, namely men, women, and kids. Men’s performance apparel led the market due to huge number of male athletes globally.
Region wise, the global performance apparel market is split into into North America, Europe, Asia Pacific, and others. North America occupied maximum market share in 2015, followed by Asia Pacific and Europe. Health awareness along with constant innovation and development is positively impacting regional growth. Moreover, Asia Pacific is projected to emerge as the prominent market in the near future. Growing health awareness along with increasing purchasing power will possibly contribute in market expansion.
Existence of emerging economies such as Japan, China, and India in light of growing sports industry is anticipated to spur market growth in Asia Pacific. China will experience rapid growth due to online retail stores and reasonable luxury apparel.
Key market participants operating in global performance apparel market encompass Nike, Inc., Adidas, Puma SE, Under Armour, Inc., and others. Nike is the biggest provider of performance apparels. Market players are entering into partnerships, mergers& acquisitions, and collaborations in order to expand their market presence. Companies such as Lululemon Athletica, Nike, Under Armour, Puma, and Adidas will dominate the market in coming years owing to their persistent efforts to design and launch apparel in response to consumer demand.