The global running apparel market is projected to grow at a CAGR of 6.6% during the forecast period 2020 -2025.
- The global running apparel market is projected to grow at a CAGR of 6.6% during the forecast period .elebrity endorsement, and international sports events, which are encouraging the involvement of consumers in various sports activities, including running. This has increased usage or running apparels worldwide.
- Increasing adoption of technology and the rising popularity of smart wearables are some of the significant factors contributing to the growth of the smart shoe segment. For instance, Under Armour launched its first smart shoe models in February 2017. These shoes provide runners with automatic tracking capabilities and insights on muscular fatigue.
Key Market Trends
Increasing Influence of Athleisure and Healthy Lifestyle Trends
In line with the athleisure trend, consumers are increasingly seeking for various sports equipment that includes footwear, clothing, and protective gear and accessories. Additionally, a continued shift towards more active lifestyles is driving the demand for leisure activities, such as running and cycling gears, across the world. According to IHRSA, in 2017, the United States had 60.87 million members at health and fitness clubs and from 2010 to 2017, the number of membership in health clubs increased at a rate of 2.63%. This, in turn, will increase the demand for running clothing and footwear. The increasing number of sport and fitness activities, such as running, aerobics, swimming, and yoga, as well as the increase in the number of women participating in fitness and sports activities, is supporting the growth in running apparel sales among women consumers.
North America is the Largest Market
One of the latest trends in the region is a combination of casual and athletic designs for the development of running apparel, which is poised to provide a significant push to the growth of the market. The rising awareness about adopting healthy lifestyles, which encourages customers to buy and indulge in fitness/strength activities, is anticipated to contribute to the demand for various running apparel in the country, during the forecast period. According to IHRSA, in 2017, a number of memberships at fitness centers/health clubs in the United States reached 60.87 million, while it was around 50.2 million in 2012. Key players operating in the market are investing in e-commerce, in order, to facilitate greater convenience for buyers to make online purchases, by providing a user-friendly interface and improved websites.
Major market players are focusing on developing a diversified product portfolio, which is intensifying the competition in the market studied. The most active companies in the market studied include key players, such as Nike Inc., Adidas AG, Under Armour, The Columbia Sports Company, and New Balance. These companies have been taking significant measures to increase their market penetration, across the world, with the establishment of new bases and setting up more production plants, along with their associated R&D.
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