Sportswear Market

Driven by increasing demand for track suits, ski suits, and swimwear globally, the sportswear market is projected to grow with a CAGR of +1.0% in volume and +2.9% in value from 2022 to 2030. The United States leads in sportswear consumption, while China dominates production and exports. Import and export volumes and values are increasing steadily, with notable fluctuations in prices over the years.

Market Forecast

Driven by increasing demand for track suits, ski suits and swimwear worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.0% for the period from 2022 to 2030, which is projected to bring the market volume to 1.5B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $17.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Track Suits, Ski Suits And Swimwear

Global sportswear consumption reduced slightly to 1.4B units in 2022, which is down by -2.4% on the previous year's figure. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at 1.5B units in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

The global sportswear market size expanded notably to $14B in 2022, with an increase of 5.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a slight slump. Global consumption peaked at $15.5B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

The United States (241M units) remains the largest sportswear consuming country worldwide, comprising approx. 17% of total volume. Moreover, sportswear consumption in the United States exceeded the figures recorded by the second-largest consumer, China (62M units), fourfold. The third position in this ranking was held by India (57M units), with a 4% share.

In the United States, sportswear consumption increased at an average annual rate of +3.4% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: China (-11.6% per year) and India (+32.6% per year).

In value terms, the United States ($1.1B), Germany ($1.1B) and Spain ($598M) appeared to be the countries with the highest levels of market value in 2022, together accounting for 20% of the global market. France, Indonesia, the UK, China, India, Pakistan, Italy, Russia and Bangladesh lagged somewhat behind, together comprising a further 19%.

Among the main consuming countries, India, with a CAGR of +34.6%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of sportswear per capita consumption in 2022 were Spain (753 units per 1000 persons), the United States (718 units per 1000 persons) and Italy (612 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by India (with a CAGR of +31.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Track Suits, Ski Suits And Swimwear

In 2022, global sportswear production shrank modestly to 1.6B units, approximately equating the previous year's figure. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 21%. As a result, production attained the peak volume of 1.7B units. From 2020 to 2022, global production growth remained at a lower figure.

In value terms, sportswear production fell to $14.5B in 2022 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.3% against 2020 indices. The growth pace was the most rapid in 2019 when the production volume increased by 21% against the previous year. As a result, production attained the peak level of $19B. From 2020 to 2022, global production growth failed to regain momentum.

Production By Country

China (648M units) constituted the country with the largest volume of sportswear production, accounting for 39% of total volume. Moreover, sportswear production in China exceeded the figures recorded by the second-largest producer, Bangladesh (80M units), eightfold. The third position in this ranking was taken by Cambodia (62M units), with a 3.8% share.

In China, sportswear production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Bangladesh (+7.4% per year) and Cambodia (+0.6% per year).

Imports

World Imports of Track Suits, Ski Suits And Swimwear

In 2022, approx. 875M units of track suits, ski suits and swimwear were imported worldwide; jumping by 17% on 2021. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sportswear imports surged to $5.7B in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

The United States was the main importing country with an import of around 249M units, which accounted for 28% of total imports. It was distantly followed by Germany (67M units), France (61M units), Italy (54M units) and the UK (43M units), together generating a 26% share of total imports. The following importers - Spain (39M units), the Netherlands (31M units), Russia (24M units), Poland (24M units), Canada (22M units), Australia (21M units), Belgium (17M units) and Croatia (16M units) - together made up 22% of total imports.

From 2012 to 2022, average annual rates of growth with regard to sportswear imports into the United States stood at +3.3%. At the same time, Germany (+31.1%), Spain (+20.5%), France (+18.6%), Croatia (+12.7%), Poland (+8.1%), Russia (+5.2%), Australia (+5.1%), the Netherlands (+5.0%), Canada (+3.9%) and Belgium (+1.2%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing importer imported in the world, with a CAGR of +31.1% from 2012-2022. The UK and Italy experienced a relatively flat trend pattern. While the share of Germany (+7 p.p.), France (+5.2 p.p.) and Spain (+3.5 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Italy (-2.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1.2B) constitutes the largest market for imported track suits, ski suits and swimwear worldwide, comprising 20% of global imports. The second position in the ranking was taken by Germany ($541M), with a 9.6% share of global imports. It was followed by France, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +3.8%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+5.0% per year) and France (+3.5% per year).

Import Prices By Country

In 2022, the average sportswear import price amounted to $6.5 per unit, growing by 1.8% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 3.6%. As a result, import price reached the peak level of $6.7 per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belgium ($9 per unit), while Croatia ($3.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+4.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Track Suits, Ski Suits And Swimwear

In 2022, the amount of track suits, ski suits and swimwear exported worldwide skyrocketed to 1.1B units, picking up by 16% on 2021. Overall, total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +95.5% against 2016 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 36%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, sportswear exports expanded sharply to $6.8B in 2022. The total export value increased at an average annual rate of +4.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 30%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

China prevails in exports structure, finishing at 591M units, which was approx. 54% of total exports in 2022. It was distantly followed by Vietnam (60M units), constituting a 5.5% share of total exports. The following exporters - Bangladesh (47M units), Turkey (39M units), Cambodia (35M units), Sri Lanka (32M units), Germany (32M units), France (22M units), Italy (19M units) and Indonesia (18M units) - together made up 22% of total exports.

Exports from China increased at an average annual rate of +3.3% from 2012 to 2022. At the same time, Bangladesh (+23.7%), Vietnam (+18.6%), Turkey (+15.8%), Sri Lanka (+8.1%), France (+7.6%), Indonesia (+6.7%) and Germany (+3.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in the world, with a CAGR of +23.7% from 2012-2022. By contrast, Italy (-1.4%) and Cambodia (-4.6%) illustrated a downward trend over the same period. Vietnam (+4.1 p.p.), Bangladesh (+3.6 p.p.) and Turkey (+2.5 p.p.) significantly strengthened its position in terms of the global exports, while Cambodia saw its share reduced by -3.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.5B) remains the largest sportswear supplier worldwide, comprising 37% of global exports. The second position in the ranking was held by Vietnam ($576M), with an 8.5% share of global exports. It was followed by Germany, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +4.8%. In the other countries, the average annual rates were as follows: Vietnam (+19.7% per year) and Germany (+5.3% per year).

Export Prices By Country

The average sportswear export price stood at $6.2 per unit in 2022, dropping by -3.2% against the previous year. Over the period under review, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the average export price increased by 24%. Over the period under review, the average export prices attained the maximum at $8.9 per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($13 per unit), while China ($4.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+9.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform