Women Sportswear Market Share, Demand, Top Players, Industry Size, Future Growth By 2029
The global women sportswear market size is expected to inflate on account of the rising demand for sports apparel and increasing consciousness of health benefits of sports activities among women, shares Fortune Business Insights™, in its report, titled, “Women Sportswear Market, 2022-2029.”
The concept of feminism is growing rapidly among women and men which would lead to equal opportunities in all sectors and segments for both. The sports field too has observed some colossal changes regarding female participation. Brand manufacturers have started including women’s needs and requirements under their sports section production. Brands have been endorsing feminism and equal rights for women through campaigns.
For example, Puma has divulged its new campaign Propah Lady which is about celebrating womanhood. The campaign breaks the stereotypical idea of what defines a lady in the society. It features influential women such as MC Mary Kom, Dutee Chand, Sara Ali Khan, and Anjali Lama. Such initiatives by giant sports brands to promote the participation of women in sports is anticipated to boost the market growth during the forecast period.
COVID-19 Impact
The unfortunate event of COVID-19 pandemic was inflicted on the world and affected the majority of the industries adversely. Factories were forced to shut down due to heavy losses and lay off activities of employees. Governments in several regions imposed a ban on the movement of goods nationally and internationally which resulted in disruption of supply chain cycle. The sporting goods sector too faced severe losses during the lockdown as all the sports academies, fitness centers, stadiums, and others were temporarily closed. According to a survey by the Federation of the European Sporting Goods Industry, the complete sporting goods sector is strongly affected by the coronavirus pandemic where 45% of companies have declared a loss in the annual turnover varying from 50% to 90% from the start of the global crisis.
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List of Key Players Covered in the Women Sportswear Market Report
- Nike
- Adidas
- Under Armour
- Puma
- Roots
- Kappa
- Columbia Sportswear
- Amer Sports
- The Gap
- F
- Bebe Store
- Lululemon Athletica
- Trimark Sportswear
- Canada Sportswear
- Fig Clothing
Highlights of the Report
The report offers a holistic evaluation based on thorough research of the market. It further provides an in-depth analysis of the current market trends and future opportunities. The report sheds light on the market drivers and restraints. Moreover, key players and their innovative strategies to prosper in the market and dominate as prominent players are shared in the report. Detailed study of the regional dynamics and how they shape the market is observed in the report.
Market Drivers
Increasing Fan Base for Women’s Sports to Boost Market Growth
Due to the rise in several global factors such as the right for equality, concepts such as feminism are gaining popularity. Increasing urbanization too positively affects the rising number of participation of women in sports. People too have been reported to enjoy watching women sports as their games are equally involving and entertaining as that of men. For instance, according to an article published in the Global Sports Matters, women’s sports is gaining more popularity by each passing day as fans are also including these sports along with those of men. Out of 84% of general sports fans today, 51% viewers are men with an interest in women’s sports. This data shows that all genders are including women’s sports to their watch list. This is expected to drive the growth of the women’s sportswear market.
On the other hand, the good quality sporting apparels required for playing any sport are expensive and only affordable to a certain economy class. The economically low segment people are not able to afford such goods despite the interest to participate in sport activities. This factor is anticipated to hamper the market growth.
Regional Insights
North America to Lead in the Market Owing to Presence of Giant Manufacturers
North America is anticipated to dominate as it holds the majority of the shares in the women sportswear market. This is owing to the presence of giant sports manufacturing companies headquartered in this region which would enhance the monetary situation and recognition of North America globally.
Europe is expected to witness significant growth and holds the second-largest share in the global market. Active participation of Europeans in sports activities has increased the import of sport goods in this region. Uefa has announced that it will launch its most significant marketing campaign which will focus on making football the most participated sport for girls and women in Europe by 2022. This is expected to boost the market growth in this region.
Asia Pacific is estimated to witness decent growth as the rapidly surging urbanization has resulted in an increase in the disposable income which can be spent on fitness goods and apparels. This has led to a rise in fitness activities such as gyms, yoga, and outdoor sports in this region.
Market Segment
On the basis of type, the global women sportswear market is divided into inner wears, top wears, bottom wears, and foot wears.
Based on the material, the market is further categorized into cotton, polyester, and nylon among others.
By distribution channels, the market is segmented into retail outlets and franchise stores, shopping malls and specialty stores, and online.
With a geographical stand-point, the market is separated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Competitive Landscape
Acquisition by Puma to Enhance its Position in the Market
Key players are using strategic plans to bolster their positions as top players in the market. Their efficient strategies include acquisitions, mergers, partnerships, and launching products among many others.
For instance, Puma, is a giant sports brand has acquired its local partner Knowledge Fire based in India in August 2016 and transformed their joint venture Puma India Retail into a subsidiary which is completely owned by Puma and all this just weeks after receiving approval to convert into a single-brand entity in India.
Industry Development
February 2021: Adidas, a German sporting goods colossal brand, has created a new collection, Formotion. It is focused on delivering comfortable performance wear for women participating in fitness activities, such as high intensity interval training or yoga. The new launch is available in all sizes for active women. It is estimated to promote the brand’s value even further in the market.
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