2018 and is expected to show significant growth in the forecast period, registering a promising CAGR of 5.9% during 2019-2029. This increase in growth rate can be attributed to increase in adoption of efficiency boosting apparel like sports compression clothing. Manufacturers offering trademarked fabrics with special properties like moisture control and temperature control has further enhanced consumer demand for sports compression clothing. With a significant uptick in sports participation, the surge in demand for sports compression clothing is likely to continue in the foreseeable future
Key Takeaways of the Sports Compression Clothing Market –
- Tops are the fastest growing product segment in the global sports compression clothing market, showing a high growth trend in the latter half of forecast period.
- North America is the largest market for sports compression clothing, and is expected to grow 1.7X by 2029, from 2019.
- Europe sports compression clothing market is expected to present the highest absolute $ opportunity, in comparison with other regions, and is expected to grow 1.8X by 2029 over market value in 2019.
- In terms of product type, shirts account for around 25% value share in sports compression clothing market and are expected to show steady growth rate over the forecast period.
- Online retail accounts for a majority share for sports compression clothing and is expected to show gradual growth over forecast period.
- Sports variety stores are expected to experience positive BPS growth in sports compression clothing market, registering a 1.9X growth during forecast period.
“While East Asia is highly attractive in the long term for sports compression clothing manufacturers, established markets like North America and Europe care presenting high returns for short term investments.”, says the report analyst
Efficient End User Reach of Market Players to Drive Growth of Sports Compression Clothing Market
The sports compression clothing market is highly fragmented, with top players in market accounting for around 20% of revenue share. The sports compression clothing market has multiple domestic players. While domestic sports compression clothing manufacturers are reliant on domestic demand, companies have also been leveraging third party ecommerce to penetrate into foreign markets. Companies like 2XU Pty. Ltd. and Under Armour have been in the forefront, offering international shipping in multiple countries to increase end consumer reach for their sports compression clothing portfolio. High penetration of third party ecommerce and international shipping has facilitated sports compression clothing manufacturers to establish their presence in foreign markets.
These insights are based on a report on Sports Compression Clothing Market by Fact.MR.