The increase in consumer spending on sports and recreational activities and the increase in the number of athletes are driving the growth of the global market of sportswear in football.
Portland, OR, February 15, 2021 (GLOBE NEWSWIRE) – Allied Market Research published a report entitled, “Sportswear for football by type (footwear, clothing and other), end user (men, women and children) and distribution channel (e-commerce, supermarkets / hypermarkets, brand outlets and others): Global analysis of opportunities and industry Forecast 2021–2027. “ According to the report, the global football sportswear industry generated $ 89.50 billion in 2019 and is projected to reach $ 114.41 billion by 2027, witnessing a CAGR of 5.3% from 2021 to 2027 . years.
Drivers, limitations and opportunities
The increase in consumer spending on sports and recreational activities, the sharp increase in participation in football-related events and the increase in the number of athletes are driving the growth of the global sportswear market in football. However, differences in raw material prices and the availability of counterfeit products are hampering market growth. On the other hand, the growing inclination towards sports as a career option among young people and the growing popularity of football create new opportunities in the coming years.
Detailed analysis of the impact of COVID-19 on the sportswear market for football @ https://www.alliedmarketresearch.com/request-for-customization/10200?reqfor=covid
The governments of several countries have introduced locking, which has closed sports shops, and network platforms have stopped the delivery of sportswear. Demand for football sportswear has declined significantly.
To stop the spread of the coronavirus, football leagues, competitions and events have either been canceled or postponed. This affected the sale of clothing and footwear.
Several companies had to stop the production activities of sportswear during the lock due to the lack of sufficient raw materials and labor in the factories. The supply chain is disrupted during locking. The supply and demand gap would narrow during locking.
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Footwear segment to maintain the leading position during the scheduled period
Based on the type, the footwear segment occupied the largest market share, contributing more than three-fifths of the world football sportswear market in 2019, and will maintain its leading position over the forecast period. This is due to the great popularity of football events, advances in football footwear and the adoption of sports as recreational activities. However, the clothing segment is projected to show a CAGR of 6.0% from 2021 to 2027.
Men segment to maintain their dominance in terms of income over the projected period
Based on end-users, the men’s segment accounted for the largest share in 2019, holding more than three-fifths of the world’s sportswear market for football, and is projected to maintain its dominance in revenue over the forecast period. This is attributed to the massive male fan following of football and the desire for fashion, quality and style for different types of sportswear. However, the children’s segment is expected to have the highest CAGR of 7.1% from 2021 to 2027. This is due to the increase in the number of enrolled in football academics, the increased participation of children in sports activities in schools and colleges, and the increase in the interest of children in football.
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Europe, and then North America, to maintain its dominance until 2027
Based on the region, Europe, followed by North America, had the largest market share in revenue in 2019, accounting for almost half of the world sportswear market, and will maintain its dominance until 2027. This is attributed to the great popularity of football in the region, the organization major events and competitions, and the adoption of difficult sports in exercise such as football and other recreational activities. However, the Asia-Pacific region is projected to show the fastest CAGR of 6.7% over the forecast period, thanks to celebrity approvals, heavy promotions and growing demand for fashionable sports shoes and clothing.
Leading market players
Columbia Sportswear Company
Fila Holding Corporation
Lululemon Athletica, Inc.
New Balance, Inc.
Ralph Lauren Corporation
Under Armor, Inc.
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