The size of the sportswear market was estimated at US $ 230.60 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 6 per cent from 2023 to 2032, reaching US $ 410.8 billion.
The market for sportswear has grown significantly over the years and is anticipated to continue growing steadily over the projected period. Growing health consciousness and consumer acceptance of fitness activities like yoga, jogging, swimming, and aerobics are the main drivers of the sports apparel market demand.
The men’s end-user category had a sizable portion of the sports apparel market in 2022 and is anticipated to expand at a substantial CAGR over the course of the forecast period. However, because of the rise in female sports involvement and the increased frequency of product launches, the women’s category is anticipated to grow at the greatest CAGR throughout the course of the projection period.
Asia-Pacific held a considerable market share and is anticipated to increase at a substantial compound annual growth rate (CAGR) throughout the course of the projected period. Due to rising middle-class populations and consumer spending power, the Asia-Pacific market has enormous growth potential.
