Running Apparel Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Description
The global running apparel market is projected to grow at a CAGR of 6.6% during the forecast period 2020 -2025.
Key Highlights- The global running apparel market is projected to grow at a CAGR of 6.6% during the forecast period .elebrity endorsement, and international sports events, which are encouraging the involvement of consumers in various sports activities, including running. This has increased usage or running apparels worldwide.
- Increasing adoption of technology and the rising popularity of smart wearables are some of the significant factors contributing to the growth of the smart shoe segment. For instance, Under Armour launched its first smart shoe models in February 2017. These shoes provide runners with automatic tracking capabilities and insights on muscular fatigue.
In line with the athleisure trend, consumers are increasingly seeking for various sports equipment that includes footwear, clothing, and protective gear and accessories. Additionally, a continued shift towards more active lifestyles is driving the demand for leisure activities, such as running and cycling gears, across the world. According to IHRSA, in 2017, the United States had 60.87 million members at health and fitness clubs and from 2010 to 2017, the number of membership in health clubs increased at a rate of 2.63%. This, in turn, will increase the demand for running clothing and footwear. The increasing number of sport and fitness activities, such as running, aerobics, swimming, and yoga, as well as the increase in the number of women participating in fitness and sports activities, is supporting the growth in running apparel sales among women consumers.
North America is the Largest MarketOne of the latest trends in the region is a combination of casual and athletic designs for the development of running apparel, which is poised to provide a significant push to the growth of the market. The rising awareness about adopting healthy lifestyles, which encourages customers to buy and indulge in fitness/strength activities, is anticipated to contribute to the demand for various running apparel in the country, during the forecast period. According to IHRSA, in 2017, a number of memberships at fitness centers/health clubs in the United States reached 60.87 million, while it was around 50.2 million in 2012. Key players operating in the market are investing in e-commerce, in order, to facilitate greater convenience for buyers to make online purchases, by providing a user-friendly interface and improved websites.
Competitive LandscapeMajor market players are focusing on developing a diversified product portfolio, which is intensifying the competition in the market studied. The most active companies in the market studied include key players, such as Nike Inc., Adidas AG, Under Armour, The Columbia Sports Company, and New Balance. These companies have been taking significant measures to increase their market penetration, across the world, with the establishment of new bases and setting up more production plants, along with their associated R&D.
Additional Benefits:- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Nike, Inc.
Adidas AG
Under Armour, Inc.
ASICS America Corporation
Mizuno USA Inc.
The Columbia Sportswear Company
New Balance
VF Corporation
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Table of Contents
- 1 INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 4 MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
- 4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
- 5 MARKET SEGMENTATION
- 5.1 By Product Type
- 5.1.1 Clothing
- 5.1.2 Footwear
- 5.1.3 Others
- 5.2 By End User
- 5.2.1 Men
- 5.2.2 Women
- 5.2.3 Kids
- 5.3 By Distribution Channel
- 5.3.1 Online Retail Channel
- 5.3.2 Offline Retail Channel
- 5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.1.4 Rest of North America
- 5.4.2 Europe
- 5.4.2.1 Spain
- 5.4.2.2 United Kingdom
- 5.4.2.3 Germany
- 5.4.2.4 France
- 5.4.2.5 Italy
- 5.4.2.6 Russia
- 5.4.2.7 Rest of Europe
- 5.4.3 Asia Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 Rest of Asia-Pacific
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle East and Africa
- 5.4.5.1 South Africa
- 5.4.5.2 Saudi Arabia
- 5.4.5.3 Rest of Middle East and Africa
- 6 COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
- 6.4 Company Profiles
- 6.4.1 Nike, Inc.
- 6.4.2 Adidas AG
- 6.4.3 Under Armour, Inc.
- 6.4.4 ASICS America Corporation
- 6.4.5 Mizuno USA Inc.
- 6.4.6 The Columbia Sportswear Company
- 6.4.7 New Balance
- 6.4.8 VF Corporation
- 7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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