Sportswear Market Size, Share and Trend Analysis by Segments, Region, Category Performance, Brands and Competitive Landscape to 2028

Sportswear Market Report Overview

The sportswear market size was $422.1 billion in 2023. The market will achieve a CAGR of more than 3% from 2023 to 2028. The versatility of sportswear continues to support its appeal, even in challenging economic conditions, as consumers increasingly prioritize multifunctional items that can be worn for various occasions.

Sportswear Market Outlook 2023-2028 ($ Billion)

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The sportswear market research report will help to understand the market growth factors and best-performing categories until 2028. The report also presents a regional outlook and competitive landscape covering share-wise insights of the leading brands. The sportswear market outlook report comprises distribution channel-wise insights to enable clients to gain information and make informed business decisions.

Sportswear Market Segmentation by Categories

The key categories in the sportswear market are clothing, footwear, and accessories.  The clothing segment dominated the sportswear market in 2023. The clothing category is further segmented into womenswear, menswear, and childrenswear. Increasing participation of women in sports will drive womenswear sales to outperform menswear over the forecast period.

Sportswear Market Analysis by Categories, 2023 (%)

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Sportswear Market Segmentation by Regions

The key regions in the sportswear market are the Americas, Asia-Pacific, Europe, and the Middle East and Africa. The Americas accounted for the highest regional segment share of the sportswear market in 2023. This will mainly be driven by emerging countries in Latin America such as Brazil and Chile, alongside continued high demand in the US.

Sportswear Market Analysis by Regions, 2023 (%)

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Sportswear Market Segmentation by Distribution Channels

The key distribution channels in the sportswear market are clothing, footwear, and accessories specialists; online specialists; department stores; value, discount and variety stores and general merchandise retail; other online retail; and other offline channels. The clothing, footwear, and accessories specialists segment accounted for the largest sportswear distribution channel share in 2023.

Sportswear Market Analysis by Distribution Channels, 2023 (%)

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Sportswear Market – Competitive Landscape

The key leading brands in the sportswear market are Nike, Adidas, Puma, New Balance, and Lululemon, among others. In 2023, Nike led the sportswear market share. However, the brand’s lead in the market is narrowing as its lack of innovation drives shoppers to switch to rivals like Adidas and New Balance. Its main downfall has been its lack of innovation, with consumers shifting towards more exciting players like Hoka and On, though the brand promises this to improve in 2025.

Sportswear Market Analysis by Brands, 2023 (%)

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Segments Covered in the Report

Sportswear Market Category Outlook (Value, $ Billion, 2018-2028)

• Clothing
• Footwear
• Accessories

Sportswear Market Regional Outlook (Value, $ Billion, 2018-2028)

• Europe
• Americas
• Asia-Pacific
• Middle East and Africa

 Sportswear Market Country-Wise Outlook (Value, $ Billion, 2018-2028)

• USA
• China
• UK
• Germany
• Japan

Sportswear Market Distribution Channel Outlook (Value, $ Billion, 2018-2028)

• Clothing, Footwear, and Accessories Specialists
• Online Specialists
• Department Stores
• Value, Discount and Variety Stores and General Merchandise Retail
• Other Online Retail
• Other Offline Channels

Sportswear Type Outlook (Value, $ Billion, 2018-2028)

• Activewear
• Sports-Inspired Casualwear
• Technical Sportswear

Sportswear Market Sport Activity Outlook (Value, $ Billion, 2018-2028)

• Training
• Sports-inspired
• Swimming
• Running
• Outdoor

Scope

Though sportswear will continue to outperform apparel, its growth will be more muted out to 2028 as it reaches maturation in Western markets.

Despite growth softening, sportswear will continue to rise as a proportion of total apparel thanks to its multifunctional nature and focus on health and fitness.

Online penetration will continue to grow as shoppers prefer the channel’s convenience and easy product and price comparisons.

Key Highlights

• Though sportswear will continue to outperform apparel, its growth will be more muted out to 2028 as it reaches maturation in Western markets.
• Despite growth softening, sportswear will continue to rise as a proportion of total apparel thanks to its multifunctional nature and focus on health and fitness.
• Online penetration will continue to grow as shoppers prefer the channel’s convenience and easy product and price comparisons.

Reasons to Buy

• Understand where the demand lies within the global sportswear market across various price positionings, categories, and brands, to allow you to maximize customer acquisition.
• Learn how continued inflationary challenges will impact the global sportswear market, and which players are most at threat from changing consumer habits.
• Identify the key approaches brands are taking to stand out in the global sportswear market, and how you can adapt these to fit your own business.