Thinking of wearing your old high school t-shirt and a ratty pair of shorts to the gym? Think again. What you wear to work out could be impacting your performance.
We’ve seen the evolution of the sport apparel market over the last few years, but high performance sportswear has taken on a whole new meaning. It’s no longer just about perfect fit and moisture wicking properties, now your gym shorts could even be collecting information on your muscles to analyze your athletic performance.
This emphasis on developing increasingly high-tech duds to sweat in is actually driving moderate growth in the Global Sports Apparel Market, which is expected to grow at a CAGR of 4.32 percent from 2014-2019.
TechNavio analysts have taken a look at the top trends expected to impact the market over the projected period.
Introduction of High-tech Fabrics
The Global Sports Apparel market is seeing an upsurge in R&D investments, as vendors race to develop new products for end-users. There has been a huge interest recently in energy-related fabric development, which focuses on blood circulation and muscle recovery to enhance energy and wellness.
For example, Celliant, a mineral-based technically engineered textile fiber, harnesses and recycles the human body’s natural energy to generate health and performance benefits. Similarly, Energear, a product of Schoeller Textiles (a German textile company), recycles energy radiated by the body to promote performance and improve the end-user’s overall well-being.
Increased Demand for Activewear
Since 2009, the demand for activewear has been increasing among end-users, with some of the world’s largest fast-fashion companies moving into the activewear segment. Forever 21, the Gap, Sweaty Betty, H&M and Uniglo have all launched activewear lines in the last couple of years.
This has created increased competition in the market and the presence of these other vendors is threatening to unseat market giants like Lululemon
Demand for Women’s Sports Apparel
The demand for women’s sports apparel is growing rapidly worldwide. Major vendors like Under Armour and Nike are increasingly introducing athletic gear catering specifically to women, and these companies are expecting to derive a huge chunk of their revenue from their women’s business segments during the forecast year.
For instance, Under Armour is expecting revenue from its women’s lines to cross the US$1 billion mark by 2016 (the overall revenue of the company is expected to top US$4 billion by 2016).
