Football Sportswear Market to Reach $114,414.1 Million, Globally and by 2027, At 5.3% CAGR, Says Allied Market Research
According to the football sportswear market analysis, the football sportswear market is segmented into type, end user, distribution channel, and region.
— Roshan Deshmukh
PORTLAND, OREGON, UNITED STATES, July 21, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Football Sportswear Market by Type, End User and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021–2027”. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
The global football sportswear market size is expected to reach $114,414.1 million by 2027 at a CAGR of 5.3% from 2021 to 2027.
According to the football sportswear market trends, on the basis of end user, the men segment is estimated to reach $66,376.1 million by 2027, at a CAGR of 4.4%. This segment has gained a major share in the global football sportswear market and is expected to sustain its share during the forecast period 2021-2027.
Football sportswear includes shoes, socks, track pants, shirts, and shorts, which are worn by football players and trainers. Growth in participation in football sports, interest of audience for football events, and desires to maintain a sporty look and follow latest fashion trends further drives the football sportswear market growth. Football sports apparel has gained significant traction in the global sportswear market, owing to growth in health awareness and increase in adoption of fitness activities. Furthermore, aggressive advertisements and celebrity endorsements also helps the football sportswear industry to pave its way toward growth.
On the basis of distribution channel, the brand outlets segment is estimated to reach $37,616.3 million by 2027, at a CAGR of 5.6%. Brand outlets are owned and operated by manufacturers. In this, manufactures such as Puma, Adidas, and Nike sell their own brand products through stores. People are increasingly buying products through brand outlets, owing to benefits associated with them such as heavy discounts, cheaper prices, and product availability, which are not available through distribution channels.
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Football was mainly concentrated to men segment only but now-a-days women are the emerging audience for football events. Growth in advancements in football shoes has been majorly attracting men football fans and football players. Nike Mercurial Vapor Superfly II CR, Adidas F50 Adizero MiCoach, Joma Super Regate, NIKE ID- Boot Customization, ADIDAS CRAZYLIGHT, and Puma NeonLite 2.0 are some of the advanced shoes, which have gained significant traction among sportsmen. For instance, FlyWire consists of strands made from Vectran, which is thinner than human hair yet stronger than steel. These strands are placed in strategic areas to provide support and it is weightless.
People are choosing football as career, where they can find jobs as trainers, and analysts. Various football clubs and academy programs are gaining major popularity in emerging countries such as India and China, which attract people to choose football sport as a career option. For instance, top football academies operating in India include Indian Tigers Football Academy (ITFA), Bhaichung Bhutia Football Schools (BBFS), DSK Shivajians Academy, Paris Saint-German Academy India, and BOCA Juniors Football School India.
Region wise, Asia-Pacific has gained considerable traction in the football sportswear market, and is expected to grow at the highest CAGR during the forecast period. Emerging economies such as India and China have gained significant popularity for football events and participation in football sports is gradually increasing. Furthermore, heavy advertisements and promotion is attracting people to buy products. Sponsorships play a vital role in building brand image, which further boost sales of football footwear and apparel. Various big brands such as Nike, Coca Cola, Barclays, Adidas, and Red Bull have been sponsoring football kits for world’s biggest clubs such as Manchester United, Barcelona, and famous national teams such as Brazil. Sportswear manufacturers are increasingly launching boots and clothing, which are signed by the world’s famous footballers such as Cristiano Ronaldo. This signed football sportswear favor growth of the football sportswear market.
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The players operating in the football sportswear market have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market and gain football sportswear market opportunities. The key players profiled in this report include Adidas AG., Asics Corporation, Columbia Sportswear Company, Fila Holding Corporation, Lululemon Athletica, Inc., Nike, Inc., New Balance, Inc., Ralph Lauren Corporation, Puma SE. and Under Armour, Inc.
Key findings of the study
○ The football sportswear market was valued at $89,505.0 million in 2019, and is estimated to reach $114,414.1 million by 2027, growing at a CAGR of 5.3% during the forecast period.
○ By type, the apparel segment is estimated to witness the fastest growth, registering a CAGR of 6.0% during the forecast period.
○ In 2019, depending on end user, the men segment was valued at $55,330.0 million, accounting for 61.8% of the global football sportswear market share.
○ In 2019, the UK was the most prominent market in Europe, and is projected to reach $7006.8 million by 2027, growing at a CAGR of 4.3% during the forecast period.
○ Football Market Growing At A CAGR Of 18.3% From 2021-2027
○ Sports Equipment and Accessories Market Business Opportunities 2027
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