India Sports Apparel Market- Industry Analysis and Forecast (2019-2027)
Posted by akash Arjun pingale on January 28th, 2021
India Sports Apparel Market was valued US$ 3011.91 Mn in 2019 and is expected to reach US$ 5494.61 Mn by 2027, at a CAGR of 7.80 % during a forecast period.
India Sports Apparel Market
The report has analyzed revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers and market disrupters in the report and same is reflected in our analysis.
India is expected to witness a massive growth in the sports apparel industry because of high population base of over 1 billion with ever changing consumer preferences. A shift in lifestyle of the young generation and the rapid response of adaption to new trends with greater disposable income are booming sports apparel sector.
India Sports Apparel Market, Dynamics:
The sportswear apparel segment in India is undergoing an astounding change of perception and evolution. As one of the youngest countries, an increase in health awareness amongst Indian consumers and adoption of fitness activities such as aerobics, swimming, running are expected to increase the consumer expenditure on sportswear apparel. The Indian retail revolution is all set to start from the country’s smaller cities, the geographical locations have emerged as key points of importance for the sportswear industry too.
Despite the presence of the high consumer base for sportswear apparel, a large obstacle is the lack of high-quality polyester processing facilities in India. The shortage of some of the raw materials and unavailability of skilled labour are expected to limit the market growth. The manufacturing processes require access to resources like synthetic fabrics. In India, More than 90% of synthetic fabrics used by domestic and international players are imported from China, Korea & Hong Kong.
India Sports Apparel Market, Segment Analysis:
The sales for sports merchandise is on a peak. Despite the high price factor, fans are not backing out from building the purchases to show their support. Retailers have realized the potential sports have to entice buyers and they are catching up fast on the concept. Indian customers are now accepting higher price points from the established brands because of the introduction of many premium international brands in the retail market and the increasing disposable income. Also, Indian brands are creating huge demand due to their capability of manufacturing compatible quality and offering products at very affordable prices.
An increase in enthusiasm of consumers towards sports and sportswear in general, a slew of brands both home grown and foreign have increased the market tendencies to deliver the rising needs of the consumers. Cricket has become big business in India. Cricket is the most popular sport in India. It still has the power to keep even a disenchanted fan following.
India Sports Apparel Market, Competitive Analysis:
The sportswear apparel market in India has traditionally been dominated by the big international brands like Reebok, Adidas, Nike and Puma. The Sports apparel market is highly competitive owing to many established market players in retail, e-commerce, sports stores and wholesale and many new start-ups joining frequently. Major domestic sports brands are already capitalizing in sportswear apparel market. Brands like Fitz, Monte Carlo and Black Panther have already launched apparel focused on consumer who are experimental and fitness oriented. Major domestic sports brands are already capitalizing in sportswear apparel market. Brands like Fitz, Monte Carlo and Black Panther have already launched apparel focused on consumer who are experimental and fitness oriented. With fitness fever enthralling the nation, celebrities have also launched their own sportswear brands. For instance, Bollywood stars Hrithik Roshan and Jacqueline Fernandez have introduced their own sportswear brands which are gaining popularity amongst the general audience in India.
The objective of the report is to present a comprehensive analysis of the India Sports Apparel Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
for more info:https://www.maximizemarketresearch.com/market-report/india-sports-apparel-market/77721/
India Sports Apparel Market, By Mode of Sale
• Retail Stores
• Under Armour, Inc.
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About the Authorakash Arjun pingale
Joined: December 4th, 2020
Articles Posted: 100
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