The global sportswear market is poised for its most significant growth in emerging economies — notably in Asia‑Pacific, the Middle East and Africa — according to a new report by market‑research firm GlobalData. The Global Sportswear Market to 2029 outlook estimates the sector will grow at a compound annual growth rate (CAGR) of 3.3% between 2024 and 2029, reaching a value of US $ 506 billion. By 2029, sportswear is expected to represent 21.4% of all apparel sales, reflecting growing consumer demand for comfort, functionality and brand-led storytelling.
Chloe Tedford‑Jones, apparel analyst at GlobalData, said that “emerging markets will play a pivotal role in the next phase of expansion for sportswear.” She noted that the global sportswear market grew by 3.2% in 2024 to US $ 430.3 billion, significantly outperforming the broader apparel sector, which increased by just 0.7% in the same period.
The report forecasts the strongest regional growth in Asia‑Pacific and the Middle East & Africa, with projected CAGRs of 4.4% and 7.1% respectively, driven by accelerating urbanisation, rising health awareness and an expanding middle class.
Global competition is expected to intensify. While Nike is predicted to remain the largest sportswear brand in 2025 with a market share of 12.7% — down by 1.5 percentage points from the previous year — other major players such as Adidas and Lululemon are poised to gain share. Chinese brands like Li-Ning and Anta are also rapidly expanding their international presence, reflecting the growing influence of Asian companies in the global sportswear market.
E‑commerce is playing a crucial role in this shift. Online sportswear spending rose by 6.8% in 2024, reaching US $ 153.3 billion, reinforcing the idea that emerging economies are driving future growth as consumers increasingly embrace digital retail.
The report suggests that as Western markets mature and consumer discretionary spending softens, brands will increasingly rely on emerging markets to sustain growth — reshaping global sportswear dynamics for years ahead.
