The global sports compression clothing market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each sports compression clothing market player in a comprehensive way. Further, the sports compression clothing market report emphasizes the adoption pattern of the sports compression clothing across various industries.
The sports compression clothing market report highlights the following players:
- Vim & Vigr
- Under Armour
- Virus Performance
- Pacterra Athletics
The sports compression clothing market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
Manufacturers Seek Better Fabric
Manufacturers of compression garments have been putting large bets on consumers in a range of sports settings to market their products. Tellingly, they are looking for new fabrics for making compression shorts, socks, tights, arm sleeves, and tops. The prospect is vast. According to a projection by Fact.MR report, the global sports compression clothing market is expected to clock a CAGR of around 6% from 2019 to 2029. The aim of a growing number of manufacturers is for optimize compression for recovery, and technical designers are taking this more seriously than ever before. Growing trend of demand shifting from elite athletes to regular ones is also reinforcing the potential of the market.
One key trend that may change the course of the sports compression clothing market is the preference for trademarked fabrics. A growing number of manufacturers are adopting this strategically to bring product differentiation.
Constantly Growing Participation in Sports and High-Intensity Training Spurs Demand
The growing number of people, both men and women, engaging in some sorts of sports or high-intensity training has been a key driver for the demand in the sports compression clothing market. Women particularly have been unlocking vast revenue prospects for manufacturers of compression garments. This is evident in the substantial demands for compression tops. Among all product types in the sports compression clothing market, the segment is expected to witness the highest growth during the assessment period.
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In emerging economies, numbers of people undertaking cycling and running have registered a significant rise over the past few years. This is bellwether for the growth in the market. Adidas, Under Armour, and Asics are coming out with new compression wear and shapewear to meet the burgeoning needs of the population. They are aiming at improving the wearer comfort and fit—the key aspects that will attract new customers. On the other hand, their manufacturing units are adopting better measure of body types for designing sports compression garments. Identification of strategic compression zones to target has also helped designers in achieving better results.
Players Looking for New Revenue Streams
Meanwhile, the focus of companies in this fairly fragmented competitive landscape are seemingly divided. A few top players are looking to expand their presence in new geographic regions on one hand, and get consistent revenues in domestic markets. Moreover, several players may focus on consolidating their hold in markets where demands are likely to mature soon or the rise in demand isn’t increasing. Examples of such markets are North America, and Europe. These regional markets hold more than half of the shares in the global sports compression clothing market. However, new avenues are limited to mid-term investments.
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On the other hand, countries in developing regions, such as in China, India, and South Korea are potentially lucrative, offering to new revenue streams for top manufacturers to tap into. One way to do this has been leveraging the e-commerce portals. Growing awareness of the benefits of sports compression clothing is also boosting the potential.