LONDON--(BUSINESS WIRE)--The global athletic apparel market is expected to post a CAGR of over 6% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Sponsorship for brand promotions is one of the key factors anticipated to drive the market growth during the forecast period. Sponsorships for the Olympics and other international sports-related events enable vendors operating in the global athletic apparel market to increase brand awareness and visibility. As a result, audience at these events develop a strong affinity toward the sponsoring brands. To further strengthen their relationship with existing and prospective customers, vendors also offer incentives such as event tickets and private reception. Strategies such as these make a positive impact on the audience, which in turn, helps vendors to influence the customers’ buying decisions, and thereby drive the sale of athletic apparels.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40612
As per Technavio, personalization of athletic apparel will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Athletic Apparel Market: Personalization of Athletic Apparel
Personalization of athletic apparel allows customers to purchase athletic outfits as per their requirements, which can be in respect to the choice of color, fabric, logo placement, and others. Vendors are also offering options for customization for athletic apparel through websites. This provides customers, especially millennials engaged in sports activities, easy access to personalization services. This trend is expected to drive the market growth during the forecast period.
“Growing preference for athleisure clothing, increasing participation in athletics, and rising brand endorsement activities will boost the athletic apparel market growth during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Global Athletic Apparel Market: Segmentation Analysis
This market report segments the global athletic apparel market by distribution channel (offline and online) and geography (APAC, Europe, MEA, North America, and South America).
North America led the athletic apparel market share in 2019, followed by APAC, Europe, South America, and MEA respectively due to the presence of several global vendors carrying out extensive promotional activities including branding, sponsorships, and brand endorsements. However, APAC is expected to witness 32% of the growth owing to the growing demand for athletic apparel from sports enthusiast millennials from economies such as China, India, South Korea, and Australia.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides 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.