Across many nations, the sports apparel market is undergoing a dynamic transition with substantial development potential. The market, which was estimated to be worth US $ 214.2 billion in 2023, is expected to rise at a compound annual growth rate (CAGR) of 6.7 per cent from 2024 to 2030, reaching US $ 337.2 billion.
Due to rising disposable incomes and a growing number of fitness-conscious people, the sportswear market in Vietnam is expanding at an exponential rate. Companies like Nike and Adidas are increasing their retail presence in Vietnam as a result of significant investments made by both domestic and foreign firms. Vietnam’s position in the supply chain for premium sportswear has been reinforced by recent partnerships between domestic vendors and international brands.
The athleisure trends that is expanding in the US is leading to the dominance of the sportswear market in the country. Leading brands like Under Armour and Lululemon Athletica are introducing customised clothing alternatives and sustainable fabrics. Celebrity endorsements and high-profile partnerships continue to be powerful sales drivers.
The market for sportswear in Europe is dominated by the sustainability movement. Recycled materials and zero-waste projects are being spearheaded by companies like Adidas and Nike. The European Union’s rigorous laws on environmental standards are influencing market dynamics positively.
