The global compression sportswear industry size is expected to showcase considerable growth by reaching USD 6.59 billion by 2028 from USD 4.24 billion in 2021, while exhibiting a CAGR of 6.5% between 2021 and 2028. Fortune Business Insights in its latest report, titled, “Compression Sportswear industry, 2021-2028.”, further mentions that the industry stood at USD 4.03 billion in 2020. The increasing adoption of advanced technology and the rising women participation is expected to favor the product’s demand in the forthcoming years. For instance, in March 2021, Pressio, a high-performance sports apparel brand, steeped into the U.K. industry through Flannels, Selfridges, Browns, and its website. The sporting brand is known for its advanced knitting technique and stringent manufacturing process to produce sustainable, high-performance sports apparels.
Top Key Companies Covered in the Compression Sportswear Industry:
- 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
Industry Segmentation:
On the basis of type, the global industry for compression sportswear is categorized into tops, bottoms, socks, bra, and others. Based on gender analysis, the industry is classified into men, women, kids, and unisex. Moreover, On the basis of the distribution channel, the industry is bifurcated into online and offline. Lastly, on the basis of region, the industry is segregated into Asia-Pacific, North America, Latin America, Europe, and the Middle East and Africa.
What does the Report Provide?
The industry report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the industry. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the industry growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point Analysis and PESTEL to obtain information about the current trends and industry developments that will drive the industry growth in the forthcoming years.
DRIVING FACTORS
Rising Women Participation to Propel industry Growth
Sports has been known to be male-dominated for a brief period. However, active government support and initiatives to break the gender stereotypes have led to the increasing participation of women athletes worldwide. According to the International Olympic Committee (IOC), around 40% of athletes are women. The rising number for women participation is expected to drive the demand for compression leggings, bra, and socks. These apparels aid in drastically reducing swelling and prevents ligament injuries in women sportspersons. Therefore, this is expected to bode well for the global compression sportswear industry growth during the forecast period.
Further Report Findings:
- Asia-Pacific stood at USD 1.35 billion in 2020 and is expected to hold the largest global compression sportswear industry share in terms of revenue in the forthcoming years. This is attributable to the presence of several regional manufacturers in countries such as China and India.
- The industry in Latin America is expected to showcase significant growth backed by the rising sports industry and the growing incidence of age-related muscular problems between 2021 and 2028.
- Europe is expected to experience exponential growth during the forecast period. This is ascribable to factors such the increasing participation of men and women in sporting events that is likely to boost the adoption of advanced compression sportswear in the region.
- Based on gender analysis, the men segment is expected to experience considerable growth backed by the high number of men participating in sports and other endurance activities across the globe. The segment held a industry share of about 3% and 58.0% in 2020 globally and in China, respectively.
COMPETITIVE LANDSCAPE
Partnerships between Key industry Players to Maintain Their Dominance
The industry is experiencing healthy competition amongst the companies that are focusing on partnering with other companies to expand their compression sportswear portfolio to cater to the growing demand from several sportspersons that prefer comfortable fit. Moreover, other key players are striving to maintain their presence by adopting strategies such as merger and acquisition, collaboration, and facility expansion that will bode well for the growth of the industry.
Industry Development:
- February 2021 - Adidas AG announced the launch of a new sportswear collection, Formotion. The company reports that the design finds its inspiration in shapewear that features graded zonal compression to ensure perfect fit for women’s irrespective of their distinctive shape.