India Sports Apparel Market to Grow with a CAGR of 16.06% until FY2026
Growing health awareness
among Indian consumers coupled with increasing disposable income is driving the
growth of India sports apparel market in the forecast years.
According to TechSci
report on, “India
Sports Apparel Market By Product Type (T-shirts, Sweatshirts, Sports Vests,
Track Pants & Tights, Others {Swimsuits, Sports Hoodies, Sports Bras}) By
End User (Men, Women, Kids) By Distribution Channel (Exclusive
Stores, Supermarket/Hypermarket, Multi-branded Stores, Online, Others) By
Company By Region, Competition Forecast & Opportunities, FY2026”, India sports apparel market
has exhibited extensive growth in the historical years and was valued at USD498.68
million in FY2020. The market is further projected to continue its growth in
the forecast years, advancing with a CAGR of 16.06% between FY2021 and FY2026,
to reach USD1005.68 million by FY2026. India sports apparel market owes its
growth to multiple factors like increasing brand awareness among Indians, rising
purchasing power of Indian consumers, growing availability of sports apparels
along with improving standards of living of the people in the country.
Moreover, female and kid population of the country is getting involved in the
sports activities actively thereby creating a demand pit for better and
efficient sports apparel which in turn is driving the market growth in the
forecast period.
Indian sports sector is also witnessing a massive boost in the recent
years attributed to the greater encouragement received in schools and colleges
to take part in extra-curricular activities. Moreover, players nowadays are not
confined to mainstream sports like cricket, football, and hockey, but are also
winning world renowned medals in home games like, wrestling, kabaddi, yoga,
etc. thus demand for complete and proper attire for the sportspersons is
increasing the market exponentially.
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The report on India sports apparel market is segmented based on product type, end user,
distribution channels, region and company. Based on distribution channel, the
segments are further categorized into exclusive stores,
supermarket/hypermarket, multi-branded stores, online, and others. Exclusive
stores are brand related stores that only supply the apparels of a particular
brand and provide customer satisfaction of original brand products. Whereas
multi-branded stores are often sportswear stores that own franchises of the
brands thereby providing the customers with a wider selection choice from
multiple brands at a time. However, on the wake of the ongoing pandemic, the
online channel of sales is projected to witness a noteworthy growth in FY2021.
This is because online retail market offers a convenient option for sports
apparel companies, due to low operating costs. Moreover, the advent of online
retail has allowed consumers to easily checkout wide range of products on a
single platform without having to spend a lot of time in stores.
Indian economy was widely affected by the pandemic that set foot in
early FY2020 and India sports apparel market was not untouched. Manufacturers
of sports apparels have incurred huge financial losses due to the disruption of
supply chain network across the country. Due to the lockdown restrictions,
interstate travel and logistics were impacted, which are needed in order to
maintain an efficient supply chain in the sports apparel industry. Moreover, while
observing the lockdown, consumers were not able to visit multiple distribution
channels and could only order the products online. However, after observing a
setback, sports apparel market has observed a sharp rise in the demand for
sports apparels in India in the post lockdown period as the government uplifted
the restrictions imposed during the lockdown, following which more and more
people have started engaging in physical activities in order to remain fit and
active and decrease the possibility of illness. Furthermore, increasing
popularity for apparels by Indian icons and preference of the population towards
these icons and their suggestions for respective brands, drives the sports
apparel market growth as well.
Some of the top players in
the India sports apparel market are, Puma Sports India Private Limited, Adidas
India Marketing Private Limited, Nike India Private Limited, Under Armour India
Trading Private Limited, ASICS India Private Limited, Fila Holdings
Corporation, Lotto Sport Italia Spa, Decathlon Sports India Private Limited.,
Shiv-Naresh Sports Private Limited, Skechers Retail India Private Limited,
among others. The companies are involving themselves into research and
development for the methods of better quality, and various quality analysis
tests to provide better products.
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“Growing middle class population base in Tier
II & Tier III cities in the country has the potential to become a major
demand generator for sports apparels in India. Various companies have increased
their presence in these cities by offering their products either through
exclusive retailers or multi-branded retail outlets and online channels. Share
of organized retail in these cities is currently low, which creates an
opportunity for major organized brands to enhance their presence by offering
products either in premium or economy range, to attract the middle class
population in these cities. Moreover, India’s Tier II & III cities mainly
comprise middle class and lower middle class population. In addition, by FY2025-2026,
number of middle class households in the country is expected to double and
reach 113 million. This indicates significant opportunities for sportswear
companies to address the demand during the forecast period.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“India Sports Apparel
Market By Product Type (T-shirts, Sweatshirts, Sports Vests, Track Pants &
Tights, Others {Swimsuits, Sports Hoodies, Sports Bras}) By End User (Men,
Women, Kids) By Distribution Channel (Exclusive Stores,
Supermarket/Hypermarket, Multi-branded Stores, Online, Others) By Company By
Region, Competition Forecast & Opportunities, FY2026”, has evaluated the future growth
potential of India sports apparel market and provides statistics and
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India sports apparel market.
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