The global compression sportswear market size is expected to gain momentum by reaching USD 6.59 billion by 2028. This information is published by Fortune Business Insights in its latest report, titled, “Compression Sportswear Market, 2024-2028.” The report further mentions that the market stood at USD 4.24 billion in 2021 and is projected to exhibit a CAGR of 6.5% between 2024 and 2028. The increasing cases of sport injuries owing to hectic international sporting schedule is expected to drive the product’s demand worldwide.
Top Key Companies Covered in the Compression Sportswear Market:
- Nike, Inc. (United States)
- Adidas AG (Germany)
- Under Armour, Inc. (United States)
- PUMA SE (Germany)
- Superdry (United Kingdom)
- ASICS Corporation (Japan)
- FILA Korea (South Korea)
- Columbia Sportswear Company (United States)
- YONEX Co., Ltd. (Japan)
- PVH Corp. (Speedo International) (United States)
- 2XU (United States)
- lululemon athletica (Canada)
- A4 Sportswear (United States)
- Augusta Sportswear (United States)
- BV SPORT (France)
- Compressport (Switzerland)
- Craft (United States)
- CW-X (United States)
- Medi (CEP) (Germany)
- Zensah (United States)
- Pacterra Athletics (United States)
Information Source: https://www.fortunebusinessinsights.com/compression-sportswear-market-105147
Market Segmentation:
On the basis of type, the market is categorized into tops, bottoms, socks, bra, and others. Based on gender analysis, the market is divided into men, women, kids, and unisex.
- Based on gender analysis, the men segment held a global compression sportswear market share of about 3% in 2020 and is likely to showcase significant growth during the forecast period. This is due to the increasing number of male participants in sporting events worldwide.
On the basis of the distribution channel, the market is bifurcated into online and offline. Lastly, on the basis of region, the market is segmented into Asia-Pacific, North America, Latin America, Europe, and the Middle East and Africa.
What does the Report Provide?
An extensive overview of the industry is provided by the worldwide market report. It mostly concentrates on important elements including top businesses, different product/service categories, the competitive environment, and top product applications. It also provides insightful analysis of current market trends and highlights significant industry advancements gleaned from a variety of research approaches by our research analyst. Apart from the aforementioned reasons, the research includes both qualitative and quantitative analysis of multiple critical drivers that have fueled market expansion throughout the projected timeframe.
DRIVING FACTORS
Increasing Incidence of Sports Injuries to Aid Growth
The American Academy of Pediatrics reports that over 30 million youths in the country play sports every year. In addition, athletes sustain about 3.5 million injuries from sports-related incidents each year. Innovative sportswear is being developed by manufacturers in response to the rising number of sports injuries. Compression clothing greatly lessens fatigue and speeds up the process of rebuilding muscles. Due to their many advantages, athletes choose compression clothing to avoid injuries, which will probably fuel the expansion of the compression sportswear market globally in the years to come.
REGIONAL INSIGHTS
Asia-Pacific – The region is expected to remain dominant and hold the highest position in the market during the forecast period. This is ascribable to factors such as the presence of a young population in the region and the active youth participation in sports activities in countries such as India, China, Japan, and South Korean in the region. Asia-Pacific stood at USD 1.35 billion in 2020. According to the United Nations, around 60% of the global youth population is present in Asia-Pacific.
North America – The market in the region is expected to experience significant growth in the forthcoming years. This is due to the improved standard of living and the presence of a number of sports such as athletics, football, and other endurance events that will boost the adoption of advanced compression sportswear between 2021 and 2028.
COMPETITIVE LANDSCAPE
Product Innovation by Major Companies to Amplify Their Market Prospects
The global market is consolidated by the presence of major companies striving to maintain their presence by adopting innovative and advanced technologies to develop compression sportswear to cater to the evolving needs of sportspersons. Moreover, other key players are adopting organic and inorganic strategies to gain a competitive edge over their rivals in the highly competitive global marketplace.
Industry Development:
- February 2021 – NIKE, Inc. acquired Datalogue, a data integration platform. The acquisition is aimed at bringing a digital transformation in its business operations and further integrating data to cater to the consumer requirements.
