Outdoor Apparel Market by Distribution Channel and Geography - Forecast and Analysis 2020-2024
Global Outdoor Apparel Market: About this market
Technavio’s outdoor apparel market analysis considers sales from both offline and online distribution channels. Our study also finds the sales of outdoor apparel in APAC, Europe, MEA, North America, and South America. In 2019, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as adoption of new business and retail strategies, such as pricing and wide assortments by retailers will play a significant role in the offline segment to maintain its market position. Also, our global outdoor apparel market report looks at factors such as market innovation leading to portfolio extensions and product premiumization, popularity of outdoor sports, and growing awareness among people about fitness and healthy lifestyles. However, growing global proportion of geriatric population, limited demand from developing economies, and high cost of raw materials may hamper the growth of the outdoor apparel industry over the forecast period.
Global Outdoor Apparel Market: Overview
Growing awareness among people about fitness and healthy lifestyles
The sedentary lifestyle of people is exposing them to various health conditions, such as obesity, anxiety, type 2 diabetes, and osteoporosis. The prevalence of chronic back pain ins increasing due to lack of physical activities among students and young adults. Hence, several people are increasingly adopting a healthy lifestyle. Also, awareness about healthy lifestyles has increased participation in outdoor activities, such as climbing and trekking. As a result, the demand for sports and fitness apparel and accessories is expanding will lead to the expansion of the global outdoor apparel market at a CAGR of over 5% during the forecast period.
Rise in number of private-label brands
The outdoor apparel market is witnessing a rise in several private-label brands, resulting in intense competition between the global and regional vendors. Private labels are popular in developed markets, such as the US, Germany, Japan, and the UK, which effectively limits the growth of major brands. However, the entry of private labels into the market enables consumers to purchase outdoor apparel at a lower price. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global outdoor apparel market during the forecast period 2020-2024, click here.
With the presence of several major players, the global outdoor apparel market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading outdoor apparel manufacturers, that include adidas AG, ASICS Corp., Columbia Sportswear Co., G-III Apparel Group Ltd., Hanesbrands Inc., Newell Brands Inc., Outdoor Research, Patagonia Inc., Under Armour Inc., and VF Corp.
Also, the outdoor apparel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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