Sportswear sector poised for growth

GLOBAL: Sportswear sector poised for growth

By Petah Marian | 26 February 2013

The global sportswear sector is set to generate an additional US$55bn in new sales by 2017, according to new research released by Euromonitor.

In 2012, the global sportswear market grew by more than 7.5% and exceeded US$244bn in sales.

Valued at an estimated US$80bn, the US market for sportswear is by far the largest globally, over three times higher in value than the second-ranked sportswear market China, the data shows.

Meanwhile, the four largest markets - the US, China, Japan and Brazil - collectively accounted for over half of total sportswear sales in value terms in 2012.

"The strong recovery of the global apparel market is on its way, with sales recording almost 6% value growth in 2012," explained Magdalena Kondej, Euromonitor's head of apparel research.

Sportswear is one of the most dynamic categories driving this solid performance with the largest gains recorded in North America and Asia Pacific, the report found.

"Russia, Ukraine and Argentina are the star sportswear markets with the highest growth recorded in 2012," Kondej added.

"Looking forward, sales in Russia are set to almost double in value by 2017 and the country is expected to overtake all Western European countries including Italy, the UK, France and Germany."

Expert analysis

The Two Sides of Europe: Parallel Strategic Challenges in Sportswear

Sportswear brands exposed to the double whammy of an ageing demographic and an escalating debt crisis in Western Europe will need to be savvy in pricing and segmentation strategies, especially as fast fashion ramps up its sportswear participation. Will Poland, the Euro-Zone’s fastest growing economy, and Russia, with its increasingly sophisticated middle class, provide safe havens of growth? These two faces of Europe present key challenges in a tough global operating environment.

Sectors: Apparel, Retail