Portland, OR — (SBWIRE) — 09/29/2017 — Asia-Pacific Sports Apparel Market is expected to generate revenue of $62.6 billion by 2020, registering a CAGR of 8.1% during the forecast period 2015-2020. Sports apparel are worn during physical exercise or sports activities. People prefer premium quality sports apparel for agility and comfort during the workout sessions.
Based on end users, the Asia Pacific sports apparel market is categorized into men, women and kids. In 2014, the men segment dominated the Asia Pacific sports apparel market; followed by women segment, which constituted 41.3% market share, owing to growing participation of women in various sports and fitness activities. Furthermore, kids segment is anticipated to grow at a notable pace, registering a CAGR of 10.4% during the forecast period.
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In Asia Pacific region, men sports apparel segment holds a lions share, followed by the women sports apparel segment. However, kids segment is expected to witness robust growth, registering a CAGR of 10.4% during the forecast period. Based on the mode of sale, the Asia Pacific sports apparel market is segmented into online stores and retail stores.
Key Findings of Asia Pacific Sports Apparel Market:
* The Asia Pacific sports apparel market is expected to exhibit a notable growth during the forecast period (2015-2020) due to increasing disposable income and rising health concerns among individuals
* Women sports apparels segment is expected to witness a CAGR of 9.1% during the forecast period
* The retail medium was the most popular distribution channel in 2014. However, the adoption of online mode of distribution would increase during the forecast period, owing to the increasing use of internet and ease of accessibility to a wide range of products
* China was the highest revenue-generating region, accounting for 45.2% share of the overall market revenue in 2014
* India is anticipated to grow rapidly, registering a prominent CAGR of 13.5% during the forecast period
Expansion and partnership have been the key growth strategies adopted by players in the market to increase their market share and expand their customer base. Prominent companies, such as Nike, Inc., Columbia Sportswear and Puma SE, have adopted various growth strategies to mark their footprint in the Asia Pacific sports apparels market. Columbia Sportswear entered in India in collaboration with Chogori India Retail limited (CIRL), to leverage the latent opportunities in India. The key companies profiled in the report include, Adidas AG, Nike, Inc., LI-NING Company Limited, Puma SE, Inc., Umbro Ltd., Fila, Inc., Under Armour, Lululemon Athletica Incorporation, Anta Sports Products Limited, Inc. and Columbia Sportswear Company.
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