Men’s Sportswear and Swimwear Market Expected to Grow CAGR of 4.5% by 2028, Driven by Growing Consumer Inclination for Healthy Lifestyles | million ideas

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According to a new report available with Million Insights, the global men’s sports and swimwear industry is expected to grow owing to the growing awareness of the health benefits associated with swimming over the forecast period. Also, consumer inclination for the sporty look and fashionable products will further boost the market growth.

The Global men’s sports and swimwear market The size is expected to reach USD 64.09 billion by 2028, registering a CAGR of 4.5% over the forecast period, according to a new report by Million Insights. Consumers are more and more inclined to adopt a healthy lifestyle and hence the rising popularity of various sports and physical activities will drive the growth of the market. Rising awareness of the health benefits associated with swimming is also driving the market growth. In addition, the increase in the number of events, such as swimming competitions, at the national and international levels, stimulates product sales. Moreover, consumer inclination for the sporty look and fashionable products will further boost the market growth.

Rising popularity of sporting events like soccer world cup, olympics, cricket world cup and kabaddi is further expected to fuel the growth of the market over the forecast period. The COVID-19 pandemic has had a negative impact on the global market. To control the spread of the disease, many governments have imposed nationwide lockdowns and restrictions on public movement, resulting in the closure of malls, retail stores and the cancellation of events. sports and sports activities on the grounds. Due to all these factors, the demand for products has decreased during the pandemic. However, as things become normal, the market is expected to grow at a considerable growth rate during the forecast period.

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U.S. men's sports and swimwear market size, by distribution channel, 2018-2028 (USD Million)

The tracksuits and joggers segment accounted for the largest revenue share of over 32% in 2020 and is expected to grow at a substantial CAGR during the forecast period. Tracksuits and jogging suits are increasingly demanded by athletes as well as health conscious consumers as these products provide comfort during jogging or physical activity. The offline distribution channel dominated the global market in 2020 with a revenue share of over 70% and will continue to expand with a moderate growth rate over the forecast period. A large percentage of people still prefer to buy products from offline channels because offline stores allow consumers to review the product before buying it. Additionally, the expansion of dedicated retail stores of top players will drive market growth through offline channels.

Global Men's Sports & Swimwear Market Share, By Type, 2020 (%)

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Highlights of the Men’s Sports and Swimwear Market Report

• North America accounted for the largest revenue share in 2020 and will continue to grow at a substantial growth rate during the forecast period

• Growing popularity of various sporting events like basketball, rugby, Olympic sports, etc., is positively fueling the growth of the market in this region

• In addition, growing popularity of sporting events, high consumer spending power, presence of big brands and increasing number of health conscious people are driving the regional market

• Asia-Pacific is estimated to be the fastest growing regional market from 2021 to 2028. Asia-Pacific market is dominated by China and India as these countries have the largest population young and active.

• In addition, increasing disposable income of consumers, availability of branded products and increasing investments by major brands will propel the growth of the market in Asia Pacific

Men’s Sportswear and Swimwear Market Segmentation

Million Insights has segmented the global men’s sportswear and swimwear market on the basis of type, distribution channel, and region:

Men’s Sports & Swimwear Prospect (Revenue, USD Million, 2017 – 2028)

  • Tracksuits and Joggers
  • Lifestyle clothing
  • Functional clothing
  • Sports clothing
  • Swimwear

Men’s Sports & Swimwear Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)

Men’s Sports & Swimwear Regional Outlook (Revenue, USD Million, 2017 – 2028)

  • North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
  • Asia Pacific
  • Central and South America
  • Middle East and Africa
    • South Africa
    • Saudi Arabia

List of Key Players of Men’s Sports and Swimwear Market

  • Adidas S.A.
  • Nike, Inc.
  • Puma SE
  • Under Armour, Inc.
  • Lululemon Athletica, Inc.
  • Columbia sportswear company
  • Ralph Lauren Corp.
  • Skechers USA, Inc.
  • ASICS Corp.
  • VF Corp.
  • Li Ning Company Ltd.

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