Newark, Dec. 18, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global outdoor sports apparel market is expected to grow from USD 15.87 Billion in 2022 to USD 24.89 Billion by 2032, at a CAGR of 4.60% during the forecast period 2023-2032.
The outdoor sports apparel market is growing due to a surge in adventure tourism by the people. People love to explore several places to get experiences and absorb several cultures globally. Due to the hectic lifestyle of the people, they are always looking to gain many experiences. Hence, they always prefer unique trips such as cruising, cultural visits and many outdoor sports activities.
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Competitive Strategy
To enhance their market position in the global Outdoor Sports Apparel market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In November 2021: Nike Inc. and DICK’s Sporting Goods created a transformative and connected partnership to enhance the shopping experience for the customers of Nike and DICK’S. For instance, Member-exclusive apparel and footwear collections and launches like running and yoga apparel are available in the app, along with many new styles. This collaboration is helping Nike Inc. to expand its market share in the outdoor sports apparel market.
Market Growth & Trends
These types of apparel help improve performance in fitness and physical sports activities as they improve body movement compared to regular clothes. It is particularly designed to offer comfort during exercise or sports. It can also be put on as casual fashion wear. The surge in people's disposable income and growing awareness regarding fitness are some of the factors propelling the market's growth. Also, consumers participating in outdoor activities have increased, like mountaineering, camping, hiking, canoeing, cycling, kayaking, rafting, caving, running, rock climbing, skiing, sailing, surfing and sky diving. Also, the participation among the youth and senior population in adventure physical activities has increased, which is driving the sales of sports-related products and, hence, the outdoor sports apparel market. People are now focusing on being slim and trim. They want to stay fit, and they are enjoying the adventure sports. It is becoming a lifestyle for many people worldwide, so the outdoor sports apparel market is growing. The integration of gadgets with activewear is the future for the market. It will help in outdoor activities and display the individual's performance, such as monitoring the heart rate during physical activities such as running. There is a future prediction that it will also convert the physical motion and energy into power that will be used for running small electronic devices. Leading organizations in the market are trying to use synthetic fibers such as polyester and nylon to give a luxurious feel to the apparel. They are also focusing on creating anti-bacterial and anti-odor garments using nanotechnology.
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Key Findings
• In 2022, discount stores segment dominated the market with the largest market share of 29.21% and market revenue of USD 4.64 Billion.
The mode of sale segment is divided into retail stores, supermarkets, brand outlets, discount stores and online stores. In 2022, discount stores segment dominated the market with the largest market share of 29.21% and market revenue of USD 4.64 Billion. This market share is high because it is the key outdoor sports apparel market contributor. Such stores can be easily found in malls and commercial establishments, offering many branded products at discounted prices.
• In 2022, the men segment dominated the market with the largest market share of 50.56% and market revenue of USD 8.02 Billion.
The end user segment is divided into men, women and kids. In 2022, the men segment dominated the market with the largest market share of 50.56% and market revenue of USD 8.02 Billion. This market share is attributed to men's high preference for outdoor sports apparel. Also, men participate more in outdoor sports.
Regional Segment Analysis of the Outdoor Sports Apparel Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region occurred as the largest market for the global Outdoor Sports Apparel industry, with a market share of 31.55% and a market value of around USD 5.01 Billion in 2022. This market share is attributed to the US's growing consumer base for such products. Also, the North American region has several terrains and climates, making it a major region for outdoor recreational activities. Moreover, the culture for adventure sports like skiing, hiking, surfing, mountain biking, etc., in the region is growing among people. Asia Pacific region has shown the fastest growth for the market as the region is observing robust participation in adventure sports.
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Key players operating in the global Outdoor Sports Apparel market are:
• Adidas AG
• Nike Inc.
• Puma SE
• L. L. Bean Inc.
• Lululemon athletica inc.
• Mizuno Corporation
• Patagonia Inc.
• Cotswold Outdoor (Outdoor and Cycle Concepts Limited)
• VF Corporation
• Mountain Warehouse Ltd.
• Columbia Sportswear Company
• Under Armour Inc.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global Outdoor Sports Apparel market based on below mentioned segments:
Global Outdoor Sports Apparel Market by Mode of Sale:
• Retail Stores
• Supermarkets
• Brand Outlets
• Discount Stores
• Online Stores
Global Outdoor Sports Apparel Market by End User:
• Men
• Women
• Kids
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About the report:
The global Outdoor Sports Apparel market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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