The crossfit apparel market is poised to attain a CAGR of 2.3% during the forecast period (2022 to 2032).The crossfit apparel market is likely to garner a revenue of USD 113 million in 2022 and is projected to reach USD 149 million by 2032.
Fitness influencers' aggressive efforts to promote activewear and attract consumers have resulted in the athleisure cult, which, in turn, augments the sales of CrossFit apparel to a significant extent.
Crossfit apparel market growth is likely to be fostered by the increasing number of sports tournaments around the globe.
The market's growing emphasis on product performance and comfort is also contributing to the emerging trends in the crossfit apparel market.
| Attributes | Details |
|---|---|
| CrossFit Apparel Market CAGR (2022 to 2032) | 2.3% |
| CrossFit Apparel Market Value (2022) | USD 113 Million |
| CrossFit Apparel Market Value (2032) | USD 149 Million |
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The increasing number of sports tournaments is significantly driving the crossfit apparel market growth, though factors such as volatile raw material prices may impede the market.
The rise in sales of crossfit apparel is also due to the growing interest in sports activities among the world's population.
For example, as the number of registered baseball players has increased, so has the number of baseball and softball tournaments and matches.
The American Athletic Conference Baseball Tournament, for example, was established in 2014 as a college-level baseball conference championship tournament.
Such tournaments are expected to help popularise baseball around the world while also benefiting the global baseball equipment market. During the forecast period, this is considered to augur well for the global crossfit apparel market's future trends.
Fashionable sports apparel is in high demand as it is versatile, convenient, trendy, and can be worn for a variety of occasions.
The crossfit apparel market share is enlarged by the market players as they are successful in capitalizing on the increased emphasis on style.
These market players have introduced innovative, technologically advanced products that are both comfortable and practical to meet this demand, opening up a wide array of crossfit apparel market opportunities.
Another factor fostering the crossfit apparel market growth is the demand for fashionable color combinations in various sports activities.
The profit margins of the major crossfit clothing brands, such as Nike, PUMA, and Adidas, are unstable, and the same is due to fluctuating raw material prices and increasing market competition among crossfit clothing companies.
Price wars among top crossfit clothing brands result from the emergence of local players, and the same forces vendors to lower the prices of their products, which reduces their profit margins as well as crossfit apparel market share.
As a result, rising raw material prices have a negative impact on vendors' profit margins, limiting the crossfit apparel market growth.
The crossfit market statistics are likely to witness a positive phase due to the increase in adventure sports, growing geriatric population, and rising obese population as people shift their focus to healthy living for the aforementioned reasons.
However, several factors, such as labor shortages and unprecedented growth in e-commerce changing consumer preferences, are likely to have a negative impact on the crossfit apparel market growth.
On the basis of product, the crossfit apparel market is segmented into shirts, pants, and others, including shorts, sweatshirts & hoodies, and tank-top.
The top wear segment is estimated to be at the forefront of the crossfit apparel market during the forecast period.
The USA is the largest regional market for the top wear segment, accounting for a major crossfit apparel market share.
By material type, the market is categorized into nylon, wool, polyester, and others.
The crossfit apparel market, based on consumer orientation, is segmented into men, women, and unisex.
During the forecast period, the women's crossfit apparel market share is expected to grow significantly.
Some of the factors driving this segment are an increase in the demand from developing countries, the number of working women, and the recovery from the recession.
Another factor contributing to the segment's growth is the significant increase in women's participation in sports and fitness activities in various countries around the globe.
This has narrowed the gender participation gap and augmented per-unit sales of crossfit apparel, propelling the overall market growth.
Women are more fashion-conscious than men, requiring top crossfit clothing companies to update their product line with new designs and styles in order to encourage more female consumers.
On account of all of these factors, the segment is expected to grow rapidly during the forecast period, majorly contributing to the overall crossfit apparel market size.
Based on sales channels, the market is divided into direct Sales, franchised Stores, specialty stores, online retailers, and other sales channels such as mono-brand stores, and wholesalers/retailers.
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The USA is anticipated to hold a major crossfit apparel market share on account of the highly evolved retail structure and increased adoption of sports apparel as a result of aggressive advertising and celebrity brand endorsement.
Increased consumer spending on fitness apparel as a fashion statement contributes to the crossfit apparel market size in this region.
Due to rapidly improving retail infrastructure and rising disposable income in China, the region is expected to witness a huge demand for crossfit apparel.
China is also aided by government initiatives to encourage active participation in sports, leading to rising sales of crossfit apparel in the region.
The crossfit apparel market in India is fostered by the growing appetite for foreign brands, a desire to live a healthier lifestyle, and rising disposable income in the region.
The crossfit apparel market is fragmented, with only a few notable international and regional players.
The crossfit apparel brands are competing by deploying growth strategies such as quality, price, brand, and variety, in turn, shaping the crossfit apparel market's key trends & opportunities.
The players in the crossfit apparel market have adopted acquisition as their primary development strategy in order to increase profitability and augment their crossfit apparel market share.
Product launches have also been used by key players to improve their product portfolios, stay relevant, and consolidate their position in the global market.
Some of the recent developments in crossfit apparel market are as follows:
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The crossfit apparel market is projected to register a CAGR of 2.8% during the forecast period (2022 to 2032).
During the projected period, North America is expected to lead the crossfit apparel market during the forecast period.
The segment of women is likely to dominate the crossfit apparel market over the forecast period.
The crossfit apparel market is expected to be valued at USD 149 Million by 2032.
The crossfit apparel market size accounted for about USD 105.4 Million in 2021.
1. Executive Summary | Crossfit Apparel Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 5.1. Shirts 5.2. Pants 5.3. Others 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Material Type 6.1. Nylon 6.2. Wool 6.3. Polyester 6.4. Others 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Consumer Orientation 7.1. Men 7.2. Women 7.3. Unisex 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Sales Channel 8.1. Direct Sales 8.2. Franchise Stores 8.3. Specialty Stores 8.4. Online Retailers 8.5. Other Sales Channel 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. East Asia 9.5. South Asia 9.6. Oceania 9.7. Middle East and Africa (MEA) 10. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 16. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Nike Inc 19.2. Adidas AG 19.3. Dick's Sports Goods 19.4. PUMA SE 19.5. Columbia Sports 19.6. ASICS Corp 19.7. VF Corporation 19.8. PVH Corporation 19.9. G-III Apparel Group Limited 19.10. Gildan Activewear Inc 19.11. Hanes Brands Inc 19.12. Patagonia Inc 19.13. Reebok International Ltd 19.14. Anta Sports Products Ltd 19.15. Elite Sportswear LP 19.16. Under Armour Inc. 20. Assumptions & Acronyms Used 21. Research Methodology
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Crossfit Apparel Market
