Sports & Swimwear - Sri Lanka

Sri Lanka

Highlights

The Sports & Swimwear market in Sri Lanka is projected to generate revenues of US$23.82m in 2024.
It is anticipated to experience an annual growth rate of 0.03% (CAGR 2024-2029).
When compared to other countries worldwide, United States leads the market with revenues of US$23bn in 2024.
In terms of per capita revenues, in Sri Lanka is expected to generate US$1.08 in 2024.
Looking specifically at the volume of the Sports & Swimwear market, it is estimated to reach 1.6m pieces by 2029.
A volume growth of -0.1% is projected for 2025.0.
Moreover, the average volume per person in the Sports & Swimwear market in Sri Lanka is expected to be 0.1pieces in 2024.
Sri Lanka has witnessed a surge in demand for eco-friendly swimwear, reflecting the country's commitment to sustainable practices and its beautiful coastal landscapes.

Key regions:

Definition:

The Sports & Swimwear market consists of sports-inspired and performance apparel as well as swimwear for men.

The men’s Sports-Inspired Apparel market includes sportswear products for men that are no longer only intended for training, instead, they are increasingly being used as everyday clothing. This style is referred to as “athleisure,” a fashion buzzword that combines the two words “athletic” and “leisure.” Outfits that come under this umbrella term can include clothing articles such as yoga pants, hoodies, and sweatpants that have an athletic appearance but have not necessarily been designed for high-intensity activities. With greater choice and availability, sports-inspired clothing is gaining popularity with consumers who seek to integrate sporty designs into their everyday wardrobe, and even though they are often worn during athletic activities, they can also be worn on other occasions, e.g., at work or school. Clothing that has been specially designed for sports purposes is excluded and can be found in the Performance Apparel market.

Men’s performance apparel refers to garments that are designed to fulfill a certain purpose or function, keeping the wearer cool, dry, and/or comfortable during sporting activities and physical exercise. Typical sport-specific products include tracksuits and jogging suits, shorts, as well as training shirts and tops.

Structure:

The Sports & Swimwear market contains data regarding the following categories:

The Sports-Inspired Apparel market encompasses lifestyle apparel by sportswear brands and athletic apparel worn for leisure for men.
The Performance Apparel market encompasses functional wear for sports purposes for men.
The Swimwear market encompasses all kinds of apparel that is used for water sports or water-based purposes; however, it excludes diving equipment for men.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit, sustainable apparel share, and sales channels. Online channel distribution refers to the purchase of physical goods in online retail. In other words, the purchase is concluded via the internet – on a desktop PC, tablet, or smartphone. The offline distribution channel covers all purchases in stationary stores made via telesales or mail orders (e.g., print catalogs). The volume data has been converted from kilograms to units in some countries using a typical unit size of 280 grams (upper and lower body of typical running gear).

The world’s biggest sportswear manufacturers are Nike, Adidas, Under Armour, and Puma.

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Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes :

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.