Running Apparel Market to Record a YoY Growth of 5.1%, North America to Dominate Market Growth – Technavio

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NEW YORK, Aug. 3, 2022 /PRNewswire/ — The running apparel market has been segmented by distribution channel (offline and online) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The offline segment will contribute the highest market share growth during the forecast period. Different types of organized offline outlets in the global running apparel market include specialty stores, department stores, hypermarkets, and warehouse clubs. Offline stores provide a diverse range of products at reasonable rates. These stores assist vendors in expanding their customer base, which will drive the offline segment during the forecast period.

Technavio has announced its latest market research report titled Running Apparel Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The running apparel market size is expected to grow by USD 18.06 bn from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 6.08% during the forecast period.

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Running Apparel Market: Driver and Trend

The growing online sales of running apparel are driving the market growth. The growth of online stores is likely to accelerate substantially during the forecast period due to increased Internet penetration and the growing number of smartphone users. Many consumers prefer to shop online owing to advantages such as competitive prices, convenience, heavy discounts, cash on delivery (COD) options, and fast delivery services. Vendors are focusing on their online businesses, with the changing buying patterns of consumers. For instance, in July 2021, Puma SE announced the opening of a new digital-enabled store in Bengaluru, India. Such factors will drive the growth of the market during the forecast period.

Digital and social media marketing is a trend in the market. Manufacturers should develop, market, and promote their sports apparel through interactions with consumers on social media platforms to compete in the market. Market players keep consumers engaged using their innovative marketing campaigns on social media and digital platforms such as Facebook, Instagram, YouTube, Twitter, and Pinterest. Companies use such platforms to highlight social messages and promote sports participation through advertisements on digital and social media. In their digital marketing and social media advertising campaigns, vendors also use celebrity endorsements featuring famous athletes, trainers, and sportspersons. This helps them associate famous personalities with their new product launches.

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Running Apparel Market: Regional Analysis

North America will account for 37% of the market’s growth during the forecast period. The growth of the market is attributed to factors such as the rising participation in fitness activities like running in countries such as the US. However, market growth in this region will be slower than the growth of the market in other regions. Moreover, the US and Canada are the key countries for the running apparel market in North America. The US organizes some of the most well-known marathons to promote running and other physical activities, such as the Boston Marathon and the New York City Marathon.

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Running Apparel Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.08%

Market growth 2022-2026

USD 18.06 billion

Market structure

Fragmented

YoY growth (%)

5.1

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key consumer countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

361 Degrees International Ltd., adidas AG, Amer Sports Corp., AnKT Shop, ASICS Corp., Brooks Sports Inc., Columbia Sportswear Co., Hanesbrands Inc., lululemon athletica Inc., Mizuno Corp., New Balance Athletics Inc., Newton Running Co. Inc., Nike Inc., PEAK, PUMA SE, Shop Li Ning, Skechers USA Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse Consumer Discretionary Market Research Reports

Table of Contents

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.3 Market size 2021

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Distribution Channel

  • 5.1 Market segments

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.3 adidas AG

  • 10.4 ASICS Corp.

  • 10.7 Mizuno Corp.

  • 10.10 Nike Inc.

  • 10.11 Under Armour Inc.

  • 10.12 VF Corp.

11 Appendix

  • 11.1 Scope of the report

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

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