Research Support Specialist, USA
The global men’s sports and swimwear market size is expected to reach USD 64.09 billion by 2028, registering a CAGR of 4.5% over the forecast period, according to a new report by Million Insights. Consumers increased inclination towards a healthy lifestyle and thus, the growing popularity of various sporting and physical activities will drive the market growth. Increased awareness about the health benefits associated with swimming is also driving the market growth. Furthermore, increased number of events, such as swimming competition, at national, as well as international levels, boosts the product sales. Moreover, consumers’ inclination towards the sporty look and fashion trendy products will further boost the market growth.
The rising popularity of sporting events like the football world cup, Olympics, cricket world cup, and kabaddi is expected to further fuel the market growth over the forecast period. The COVID-19 pandemic had an adverse impact on the global market. To control the spread of the disease, many governments had imposed nationwide lockdown and restrictions on public movement, which resulted in closed malls, retail stores, and canceled sporting events and sporting activities at grounds. Due to all these factors, the product demand was decreased during the pandemic. However, as things get normal, it is expected that the market will grow at a considerable growth rate over the forecast period.
The track and jogging suits segment accounted for the largest revenue share of more than 32% in 2020 and is estimated to grow at a substantial CAGR over the forecast period. Track and jogging suits have rising demand from athletes as well as health-conscious consumers as these products provide comfort while jogging or doing physical activity. The offline distribution channel dominated the global market in 2020 with a revenue share of more than 70% and will continue to expand with a moderate growth rate during the forecast period. A large percentage of the population still prefers to buy products from offline channels as offline stores allow consumers to examine the product before buying it. Moreover, the expansion of dedicated retail stores from top players will drive the market growth through offline channels.
The report “Men’s Sports And Swimwear Market Size, Share & Trends Analysis Report By Type (Athletic Apparel, Track & Jogging Suits), By Distribution Channel (Offline, Online), By Region (EU, APAC, North America), And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global men’s sports & swimwear market on the basis of type, distribution channel, and region:
Men’s Sports & Swimwear Type Outlook (Revenue, USD Million, 2017 - 2028)
Men’s Sports & Swimwear Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
Men’s Sports & Swimwear Regional Outlook (Revenue, USD Million, 2017 - 2028)