Global Sports and Fitness Wear Market 2019-2023
About this market
Technological advances in sports and fitness wear is identified as one of the key trends that will gain traction in the market for the next four years. The manufacturers of sports and fitness wear are continuously focusing on improving the technology features of the product to achieve higher customer satisfaction. Technavio’s analysts have predicted that the sports and fitness wear market will register a CAGR of over 5% by 2023.Market Overview
Rising number of sports tournaments
The rise in the number of sports tournaments such as baseball, ball sports, and racket sports are resulting in an increased sales volume sports and fitness wear. The growing interest of worldwide population in sports activities will also drive the sales volume.
Volatile raw material prices
The key market manufacturers are experiencing fluctuations in their profit margins. This is due to the fluctuating prices of raw materials and the increasing competition among the vendors in the market.
For the detailed list of factors that will drive and challenge the growth of the sports and fitness wear Market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies and the competitive environment is quite intense. Factors such as the technological advances in sports and fitness wear and rising number of sports tournaments, will provide considerable growth opportunities to sports and fitness wear manufactures. Adidas, Nike, PUMA, Under Armour, and VF Corporation are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Sports and Fitness Wear Market 2019-2023
Technavio recognizes the following companies as the key players in the global sports and fitness wear market: Adidas, Nike, PUMA, Under Armour, and VF Corporation.
Commenting on the report, an analyst from Technavio’s team said: “One trend affecting this market is the advent of customized and personalized sports and fitness wear.”
According to the report, one driver influencing this market is the rising interest of worldwide population in sports activities.
Further, the report states that one challenge affecting this market is the increasing pressure on market competitors for involving category sustainability.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook