Market Trends of Sports Apparel Industry
Increased Sports Participation and Popularity of Athleisure
The rising participation in sports and recreation activities across all demographics has fueled sports apparel sales globally. Consumers increasingly seek designer sports apparel with sports design elements aligned with the athleisure trend. This trend is further supported by celebrities advertising for global sports brands on social media. Furthermore, initiatives by governments of numerous countries to increase sports participation have recently driven athleisure demand. Governments increase their investments to encourage physical activity participation, and partners strengthen relationships between the community and sports organizations. For instance, in March 2022, the Australian government announced its plans to invest AUD 10.7 million in major sporting events, such as the ICC T20 Men鈥檚 World Cup 2022 and the FIFA Women鈥檚 Football World Cup 2023, among other events. This is aimed to increase community engagement, gender equality, and physical activity participation to maximize social, economic, and sporting outcomes.
North America Dominates the Market
The United States is one of the most prominent regional markets for sports apparel owing to its highly evolved retail structure, increased sports participation, aggressive advertising, and celebrity brand endorsements. The passionate fanbases of sports such as basketball and baseball greatly influence the demand for sports apparel in the market. Additionally, the global recognition of these athletes plays a significant role in driving the demand for sports apparel. Basketball players, in particular, are influential figures whose personal brands drive merchandise sales featuring their names and jersey numbers. Moreover, the emergence of athleisure wear has become a notable phenomenon, erasing the boundaries between sportswear and casual attire. Therefore, many firms attempt to bridge the gap between fashion and innovative functional designs through their new collections. For instance, in June 2022, Canadian Tire Corporation (CTC) launched Forward With Design (FWD). According to the company, Forward With Design highlights in-house brand-building capabilities and delivers a customer-centric collection that combines style with functionality, mindfully designed to transition with Canadians throughout their daily activities.
