India Sportswear Market Synopsis
India Sportswear Market has registered significant growth over the last five years owing to the increase in the share of the urban population along with the rising disposable personal income of people. Growing economic standards, changing lifestyles and increasing awareness about fitness are leading to an increase in sales of sportswear. Moreover, the rise in the number of people using e-commerce has led to a further increase in demand for the India sportswear market. The market has seen a halt owing to the massive outbreak of COVID-19 which resulted in nationwide lockdowns to combat the spread of the virus and has led to a decline in the overall India Sportswear market growth.
According to 6Wresearch, India Sportswear Market size is projected to grow at a CAGR of 4.7% during 2020-2026. This market in India has been growing rapidly in recent years due to increasing health consciousness and fitness trends among consumers. This sector has been working effortlessly and become an essential part of the Asia Pacific Sportswear Market. The market is also being driven by the popularity of various sports and fitness activities, as well as the rising disposable income of consumers. Athleisure wear has gained widespread popularity, as it combines style with comfort, making it suitable for everyday wear. Additionally, several international sportswear brands have entered the Indian market in recent years, which has further fueled the India Sportswear Market growth.
India Sportswear Industry: Key Players
Some of the most prominent companies running their business in this market are:
- Nike
- Adidas
- Puma
- Reebok
- Under Armour
- ASICS
- Skechers
- Fila
- New Balance
- Decathlon
COVID-19 Impacts on India Sportswear Market
The coronavirus pandemic affected the growth of the sportswear market in India in a number of ways. With lockdowns, restrictions on outdoor activities, as well as temporary closures of gyms and fitness centers, there was a huge decline in consumers' demand for sportswear. The closure of brick-and-mortar retail outlets hampered traditional sales channels for sportswear key players. E-commerce platforms came out as an essential avenue for consumers to purchase sportswear during the lockdown, which led to an expansion in online sales. In addition, there was a shift in the preferences of consumers towards athleisure and comfortable, multifunctional activewear. Since remote work and digital fitness classes became the norm, people sought versatile sportswear that could seamlessly transition from workout sessions to casual wear.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- Historical Data Starting from 2016 to 2019.
- Major Upcoming Developments and Projects
- Forecast Data until 2026.
- Base Year: 2019
- Key Performance Indicators Impacting the Market.
- 10 Years Market Numbers.
Key Highlights of the Report
- India Sportswear Market Overview
- Historical Data of India Sportswear Market Revenues, by Product Types, for the Period 2016-2019
- India Sportswear Market Share, By Players
- Historical Data of India Sportswear Market Revenues, by Distribution Channel, for the Period 2016-2019
- Market Opportunity Assessment
- Historical Data of India Sportswear Market Revenues for the Period 2016-2019
- Porter’s Five Force Analysis
- Market Size & Forecast of India Sportswear Market Revenues, by Product Types, Until 2026
- India Sportswear Market Forecast
- India Sportswear Market Size and INDIA Sportswear Market Forecast of Revenues, Until 2026
- India Sportswear Market Trends and Industry Life Cycle
- India Sportswear Market Outlook
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