The concept of feminism is growing rapidly among women and men which would lead to equal opportunities in all sectors and segments for both. The sports field too has observed some colossal changes regarding female participation. Brand manufacturers have started including women’s needs and requirements under their sports section production. Brands have been endorsing feminism and equal rights for women through campaigns.
For example, Puma has divulged its new campaign Propah Lady which is about celebrating womanhood. The campaign breaks the stereotypical idea of what defines a lady in the society. It features influential women such as MC Mary Kom, Dutee Chand, Sara Ali Khan, and Anjali Lama. Such initiatives by giant sports brands to promote the participation of women in sports is anticipated to boost the industry growth during the forecast period.
On the basis of type, the global women sportswear industry is divided into inner wears, top wears, bottom wears, and foot wears.
Based on the material, the industry is further categorized into cotton, polyester, and nylon among others.
By distribution channels, the industry is segmented into retail outlets and franchise stores, shopping malls and specialty stores, and online.
With a geographical stand-point, the industry is separated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
The research offers a holistic evaluation based on thorough research of the industry. It further provides an in-depth analysis of the current industry trends and future opportunities. The research sheds light on the industry drivers and restraints. Moreover, key players and their innovative strategies to prosper in the industry and dominate as prominent players are shared in the research. Detailed study of the regional dynamics and how they shape the industry is observed in the research.
Due to the rise in several global factors such as the right for equality, concepts such as feminism are gaining popularity. Increasing urbanization too positively affects the rising number of participation of women in sports. People too have been researched to enjoy watching women sports as their games are equally involving and entertaining as that of men. For instance, according to an article published in the Global Sports Matters, women’s sports is gaining more popularity by each passing day as fans are also including these sports along with those of men. Out of 84% of general sports fans today, 51% viewers are men with an interest in women’s sports. This data shows that all genders are including women’s sports to their watch list. This is expected to drive the growth of the women’s sportswear industry.
On the other hand, the good quality sporting apparels required for playing any sport are expensive and only affordable to a certain economy class. The economically low segment people are not able to afford such goods despite the interest to participate in sport activities. This factor is anticipated to hamper the industry growth.
The global women sportswear industry size is expected to inflate on account of the rising demand for sports apparel and increasing consciousness of health benefits of sports activities among women, shares in its research, titled, “Women Sportswear Industry, 2021-2028.”
North America to Lead in the Industry Owing to Presence of Giant Manufacturers
North America is anticipated to dominate as it holds the majority of the shares in the women sportswear industry. This is owing to the presence of giant sports manufacturing companies headquartered in this region which would enhance the monetary situation and recognition of North America globally.
Europe is expected to witness significant growth and holds the second-largest share in the global industry. Active participation of Europeans in sports activities has increased the import of sport goods in this region. Uefa has announced that it will launch its most significant industrying campaign which will focus on making football the most participated sport for girls and women in Europe by 2022. This is expected to boost the industry growth in this region.
Asia Pacific is estimated to witness decent growth as the rapidly surging urbanization has resulted in an increase in the disposable income which can be spent on fitness goods and apparels. This has led to a rise in fitness activities such as gyms, yoga, and outdoor sports in this region.
Acquisition by Puma to Enhance its Position in the Industry
Key players are using strategic plans to bolster their positions as top players in the industry. Their efficient strategies include acquisitions, mergers, partnerships, and launching products among many others.
For instance, Puma, is a giant sports brand has acquired its local partner Knowledge Fire based in India in August 2016 and transformed their joint venture Puma India Retail into a subsidiary which is completely owned by Puma and all this just weeks after receiving approval to convert into a single-brand entity in India.
Companies Covered in the Women Sportswear Industry Research
Nike Adidas Under Armour Puma Roots Kappa Columbia Sportswear Amer Sports The Gap V.F Bebe Store Lululemon Athletica Trimark Sportswear Canada Sportswear Fig Clothing