Global Reflective Sportswear Market 2018-2022
About Reflective Sportswear
Reflective sportswear, a type of personal protective equipment (PPE), is a high-visibility clothing that has reflective properties, which can easily be noticeable even in the darkest background.
Technavio’s analysts forecast the global reflective sportswear market to grow at a CAGR of 5.16% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global reflective sportswear market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Reflective Sportswear Market 2018-2022
Technavio recognizes the following companies as the key players in the global reflective sportswear market: adidas, New Balance, Nike, PUMA, SUGOI, and Under Armour.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is better use of raw materials and technology in manufacturing reflective sportswear. There is an increased demand for improved sportswear, including reflective sportswear as it provides a high level of security, which is one of the preference factors by most consumers. Key competitors use lycra, mesh, neoprene, reflective fabrics, water-resistant fabrics, microfiber fabrics, and waddings (a nonwoven material that is made from synthetic continuous polyester filaments).”
According to the report, one driver in the market is growing popularity of outdoor running and biking at night. There is increased participation in outdoor running and biking at night. However, it comes with a set of rules to avoid collisions with moving vehicles. Therefore, reflective sportswear is not just a fashion choice, but it has become an essential protective gear. Drivers spot such athletes when they glow in the dark due to their high-visible clothing, footwear, and other accessories.
Further, the report states that one challenge in the market is greater availability of counterfeit products. The easy availability of a number of counterfeit products will likely hinder the growth of the market during the forecast period. The presence of a number of counterfeit products will also lead to market fragmentation, which eventually might result in a lack of price standardization, an uneven competitive scenario, and market share erosion. Counterfeit products are priced at a much lower rate compared with branded products to gain a competitive advantage over international brands, but they lack quality and durability.
adidas, New Balance, Nike, PUMA, SUGOI, and Under Armour.