Basketball Apparel Market Growth: CAGR of 6.45% Expected from 2023 to 2028, Male Segment Takes Center Stage, North America Leads - Technavio
The basketball apparel market is set to achieve impressive growth, with a projected Compound Annual Growth Rate (CAGR) of 6.45% between 2023 and 2028. This remarkable surge is expected to bring about an increase of USD 5.93 Billion in market size. The robust expansion of the basketball apparel industry hinges on a convergence of factors, including pioneering designs, an expansive product portfolio, the escalating popularity of basketball, and the advent of diverse national and international basketball tournaments.
FAQ: Answering Key Questions
Dominating the Court: Largest-Growing Segments
The male segment of the basketball apparel market is expected to experience remarkable growth during the forecast period. This segment encompasses a wide range of basketball apparel, including shorts, hoodies, jerseys, tops, long-sleeve t-shirts, standard t-shirts, basketball pants, basketball tights, and more. Male basketball enthusiasts can be seen strutting their style on courts across the world. Various male basketball tournaments, such as Basketball at the Summer Olympic Games, EuroBasket, FIBA Americas Championship, FIBA World Championship, and FIBA Oceania Championship, add to the charisma of this segment.
For more insights on the historical data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report: https://www.technavio.com/basketball-apparel-market/sample-report
In 2018, the male segment was the undisputed leader, commanding a valuation of USD 10,587.87 million. Key industry players, including 耐克 , 阿迪达斯 , PUMA Group , Under Armour , and 3 Point Basketball Academy , are the driving force behind the vibrant male basketball apparel market. Their extensive product lines cater to the fashion-forward basketball aficionados. Products like the Chip/White Wood DRYV Baller 3.0 Men Dry Hand Zone Basketball Shorts, the Men Nike NBA Connected Jersey, UA Baseline Cotton Men Basketball Tank Top, and INDIANA HOOSIERS HRC JERSEY exemplify the level of style and functionality that these brands offer.
Brand endorsements are playing an influential role in shaping the male basketball apparel category. Leading vendors such as Adidas and Nike collaborate with famous professional basketball players, launching new lines of basketball products under the names of these athletes. Such partnerships contribute significantly to the burgeoning growth of the male basketball apparel segment, thereby bolstering the overall market during the forecast period.
领英推荐
Key Regions Powering the Basketball Apparel Market
North America is projected to be a major contributor, accounting for 34% of the global market's growth during the forecast period. This robust growth can be attributed to the region's increasing awareness of basketball as a healthy and enjoyable sport. Among sports enthusiasts, basketball stands out prominently in North America compared to other regions. A substantial portion of the population in North America prefers playing basketball over other sports like football.
The region also boasts some of the most iconic and influential basketball players in history, including legends like LeBron James, Michael Jordan, Kobe Bryant, and Kevin Durant. These players hold considerable sway, and strategic brand partnerships with them have significantly boosted the popularity of market players.
This popularity and recognition have a direct impact on the market's growth, making North America a pivotal region in the global basketball apparel market during the forecast period.
Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial?-?buy the report: https://www.technavio.com/basketball-apparel-market/full-report
Conclusion
The basketball apparel market is experiencing a phenomenal growth surge. Propelled by innovations in design and an extensive product range, the male segment is commanding the spotlight, offering a wide array of stylish and functional basketball apparel. Meanwhile, North America takes the lead, with the rising popularity of basketball as a sport and the powerful influence of legendary players. As the basketball fever continues to spread, the market's upward trajectory remains undeniable, marking the path to a slam-dunk future.