Sportswear: “Emerging markets" are driving the next growth phase

The global sportswear market is set to achieve its most significant growth in the coming years within emerging markets, particularly in the Asia-Pacific, Middle East and Africa regions. This states the “Global Sportswear Market to 2029” report by UK market research firm GlobalData. It analyses the development of the global sportswear market up to 2029.

Sportswear to take the lead

The sportswear market is also poised to take a leading position within the overall apparel market, meaning demand for comfort-oriented and innovation-driven products will dominate the sector.

The report shows that the entire sector will grow at a compound annual growth rate (CAGR) of 3.3 percent between 2024 and 2029, reaching a value of 506 billion US dollars. This is 0.9 percentage points above the global apparel market. By 2029, sportswear is expected to account for 21.4 percent of all apparel sales, as consumers increasingly value comfort, functionality and compelling brand storytelling.

“Emerging markets will play a pivotal role in the next phase of expansion for sportswear,” said Chloe Tedford-Jones, apparel analyst at GlobalData. “The global sportswear market grew by 3.2 percent in 2024 to reach 430.3 billion US dollars, significantly outperforming the broader apparel sector, which rose only 0.7 percent. Growth is expected to moderate during 2026-2029, reflecting the maturation of Western markets and softening discretionary spend.”

The report states that the Asia-Pacific region and the Middle East and Africa will achieve a CAGR of 4.4 percent and 7.1 percent, respectively. This growth is attributed to rapid urbanisation, rising health awareness and an expanding middle class.

Influence of Asian brands is growing

For the major players in the sports market, this means competition will continue to increase. Nike is set to remain the largest sportswear brand in 2025 with a total market share of 12.7 percent, despite a 1.5 percentage point drop from the previous year due to stronger competition. Adidas and Lululemon are expected to gain market share, while Chinese brands Li-Ning and Anta continue to rapidly expand their international presence. Furthermore, takeover interest in Puma from companies such as Anta, Asics and Li-Ning demonstrates the growing influence of Asian companies in this market.

The online market is supporting the continued growth of emerging markets. “The online channel further reinforced the importance of emerging economies in shaping sportswear growth, as online sportswear spends rose 6.8 percent in 2024 to 153.3 billion US dollars,” added Tedford-Jones.

This article was translated to English using an AI tool.

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