LONDON--(BUSINESS WIRE)--The outdoor apparel market is expected to post a CAGR of over 5% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The sedentary lifestyle of people is exposing them to various health conditions, such as obesity, anxiety, type 2 diabetes, and osteoporosis. Hence, several people are increasingly adopting a healthy lifestyle. Also, awareness about healthy lifestyles has increased participation in outdoor activities, such as climbing and trekking. As a result, the demand for sports and fitness apparel and accessories is expanding, which is expected to drive the growth of the outdoor apparel market.
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As per Technavio, the rise in several private-label brands will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2020-2024.
Outdoor Apparel Market: Rise in Number of Private-Label Brands
The outdoor apparel market is witnessing a rise in a number of private-label brands, resulting in intense competition between the global and regional vendors. Private labels are popular in developed markets, such as the US, Germany, Japan, and the UK, which effectively limits the growth of major brands. However, the entry of private labels into the market enables consumers to purchase outdoor apparel at a lower price. Thus, the growing presence of these brands will positively influence the market, particularly in terms of garnering consumer interest during the forecast period.
“Factors such as the increasing adoption of omni-channel retailing and the growing tourism industry will have a significant impact on the rise of the outdoor apparel market value during the forecast period,” says a senior analyst at Technavio.
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Outdoor Apparel Market: Segmentation Analysis
This market research report segments the outdoor apparel market by distribution channel (offline and online) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market in 2019, followed by Europe, APAC, South America, and MEA, respectively. The growth of the outdoor apparel market share in North America can be attributed to factors such as the presence of a well-developed outdoor sports industry and the increase in the prevalence of obesity and diabetes.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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