Pathway of The Massive Sports Industry
Sports Redefined in The World of Today
The global population is increasingly concerned with health, fitness, and lifestyle. Not to mention the pandemic outbreak that has made it worse for the past 2 years. It started to open the eyes of the public about how important a healthy lifestyle is now. Based on the Statista report about the sports and fitness industry stated: •From 2021 to 2028, the online or digital fitness industry is projected to have the highest growth rate of 33.10% each year, for a total growth of 640.1% from 2021 to 2028 due to higher demand. •The global Sports and Fitness Apparel Market is expected to grow at a significant rate during the forecast period, between 2022 and 2027. •The industry is expected to reach $567B by 2026.
The sports and fitness industry is huge and diverse involves lots of people, activities, organizations, and businesses. It also includes all aspects of sport and fitness ranging from professional sport, coaching, sport development, performance analysis, and sports apparel. In recent years, as the sports and fitness industry is on the rise, it has had an impact on the sports apparel and footwear industry too. There have also been changes in the dynamics of the sports apparel manufacturing industry as there were changes in terms of design and functionality, consumer demand, and shifting retail strategies. Despite the current global economic downturn, there has been an increased demand for athleisure wear throughout the pandemic. Consumption has climbed even more during the lockdown. Aside from sports and exercise, it can be used for a variety of purposes. These comfortable clothes can be worn both inside and outside of the house. Adult's and children's demand for joggers, hoodies, and sneakers have expanded dramatically in both quantity and variety. As a result, the industry is predicted to do very well over the projection period.
New Opportunities and Demands in Sports Apparel and Footwear Industry
With the rise in the affluent population, lots of sports brands have been gaining popularity in emerging markets. Furthermore, rising consumer awareness of health issues and increased adoption of fitness activities such as aerobics, swimming, jogging, and yoga are driving market expansion.