Total revenue of the global sports apparel market 2023-2030

The global sports apparel market was estimated to generate around 213 billion U.S. dollars in revenue in 2023. Revenues are forecast to increase and reach around 294 billion U.S. dollars in 2030.

Battle of the brands

Competition is set to intensify as brands fight for a bigger share of the sports apparel market. Nike and adidas were the leading sportswear companies worldwide in 2022, generating combined revenues of over 70 billion U.S. dollars. The more established brands are being challenged by relative newcomers, such as Under Armour and lululemon – founded in 1996 and 1998, respectively. The growth of athletic apparel brand lululemon has been particularly impressive: net revenue exceeded 8.1 billion U.S. dollars in 2022, increasing by around 30 percent on the previous year.

Is sportswear the everyday apparel of choice?

In recent years, the sports apparel and athletic wear markets have benefitted from changing consumer trends. A growing interest in health and wellbeing has led to increased participation in fitness activities. There is also a greater demand for clothes that are both stylish and comfortable. According to a survey of U.S. consumers in 2021, the two most important factors when buying sporting goods, including sportswear, were comfort and quality.