Athletic apparel market - additional information
Athletic apparel is a general term referring to high-functionality clothes designed to enhance performance, but also to support and protect the body while playing sports. Since different sports put strains on different parts of the body and are played in different conditions, athletic wear differs in materials, fit or design from one sport to another. The sports apparel market is divided into high-performance gear for professional athletes, consumer products and “athleisure”- sportswear for everyday life. Athletic apparel may include, for example, yoga pants, football jerseys, socks, swimwear or baseball caps.
In 2014, the global revenue of the sports apparel market was estimated at almost 150 billion U.S. dollars and was expected to grow to 189 billion U.S. dollars by 2020. The most important players on both the global sporting goods market and the global sport apparel market are Adidas and Nike. VF Corporation, the manufacturer of more than 30 brands, such as Eastpak, JanSport, The North Face, Nautica or Vans, is ranked third in terms of revenues. As of 2014, the consumer purchases of all sporting goods in the United States, including equipment, footwear and apparel, were valued at 63 billion U.S. dollars, while consumer purchases of athletic apparel alone amounted to 14 billion U.S. dollars.
According to a survey, 29 percent of respondents think that the brand name is an extremely important factor in the purchasing decision of apparel products. Especially on the athletic apparel market, which is dominated by logos, easily recognizable designs and colors, brand value is a key driving force in revenue performance. Nike is ranked as the most valuable apparel brand in the world, surpassing fashion giants, such as H&M and ZARA. It is also the most profitable sporting goods company worldwide, with around 27 billion U.S. dollars in revenue in its 2014 fiscal year. The company also tops a ranking of women’s and men’s favorite brands of athletic apparel.