Tennis apparel, footwear, and accessories market size in US to increase by USD 208.5 million between 2022 and 2027; Growth driven by increasing penetration of the internet and smartphones - Technavio
NEW YORK, March 21, 2023 /PRNewswire/ -- The tennis apparel, footwear, and accessories market in US is forecast to grow by USD 208.5 millionbetween 2022 and 2027, and the growth momentum will be accelerating at a CAGR of 6.51% during the forecast period. The growth of the market is driven by the increasing penetration of the internet and smartphones. The high adoption of smartphones and the internet have encouraged vendors to sell their products through online retail sales channels in the US. Also, the focus on reducing capital costs in physical retail stores has led many vendors to expand their presence online. Besides, factors such as the availability of a wide range of products, convenient payment options, and the presence of customer-friendly shopping experiences are increasing the number of online shoppers. All these factors are creating significant growth opportunities for vendors operating in the market. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) ? Request a report sample
Company Profiles
The tennis apparel, footwear, and accessories market in the US is fragmented. The market comprises several global and regional players. Global vendors have established a footprint in the US. They are focusing on introducing innovative products differentiated in terms of design and quality to cater to evolving consumer demands. Prominent vendors are expanding their product portfolios to establish a strong customer base and gain a more competitive edge in the market. They are also competing in terms of brand, price, and quality to increase their market shares.
The tennis apparel, footwear, and accessories market in US report includes information on the key products and recent developments of leading vendors, including:
Adidas AG - The company offers tennis apparel, footwear and accessories such as adidas mens tennis shoes.
ASICS Corp. - The company offers tennis apparel, footwear and accessories such as solution speed FF tennis shoes.
Fila Holdings Corp - The company offers tennis apparel, footwear and accessories such as Alley full coverage tank.
Nike Inc. - The company offers tennis apparel, footwear and accessories such as Nike court Dri Fit Slam tennis shorts.
Market Dynamics
The growth of the market is driven by factors such as the increasing penetration of the internet and smartphones, the rising number of product endorsements by celebrities, and the increasing awareness about health benefits of sports. However, threats associated with counterfeit tennis apparel and footwear will hinder the growth of the market.
Competitive Analysis
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Request a Sample
Market Segmentation
By distribution channel, the market is segmented into offline and online. The market growth will be significant in the offline distribution channel segment during the forecast period. Offline retail channels such as department stores and hypermarkets provide proper assortment of products under a single roof. In addition, discounts and enhanced shopping experiences encourage consumers to buy tennis apparel through these offline distribution channels.
By end-user, the market is segmented into men, women, and children.
By product, the market is segmented into apparel, footwear, and accessories.
The tennis apparel market in Americas is estimated to grow at a CAGR of 3.7% between 2022 and 2027. The size of the market is forecast to increase by USD 82.08 million. The market is segmented by distribution channel (offline and online) and end-user (men, women, and children).
The rugby apparel market size is expected to rise to USD 490.68 million from 2021 to 2026. The growth momentum will be accelerating at a CAGR of 6% during the forecast period. The market is segmented by end-user (male and female), distribution channels (offline and online), and geography (Europe, APAC, North America, South America, and Middle East and Africa).
What are the key data covered in this tennis apparel, footwear, and accessories market in US report?
CAGR of the market during the forecast period.
Detailed information on factors that will drive the growth of the market between 2023 and 2027
Precise estimation of the size of the tennis apparel, footwear, and accessories market in US and its contribution to the parent market.
Accurate predictions about upcoming trends and changes in consumer behavior.
Growth of the market across the US.
A thorough analysis of the market's competitive landscape and detailed information about vendors.
Comprehensive analysis of factors that will challenge the growth of tennis apparel, footwear, and accessories market vendors in US.
Tennis Apparel, Footwear, and Accessories Market Scope in US
Report Coverage
Details
Page number
147
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 6.51%
Market growth 2023-2027
USD 208.5 million
Market structure
Fragmented
YoY growth 2022-2023(%)
5.87
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
adidas AG, ASICS Corp., Fila Holdings Corp, New Balance Athletics Inc., Nike Inc., PUMA SE, The Gap Inc., Under Armour Inc., Holabird Sports, Jofit LLC, lululemon athletica Inc., ANTA Sports Products Ltd., Berkshire Hathaway Inc., Do It Tennis , Fast Retailing Co. Ltd., Loriet LLC, Lotto Sport Italia Spa, Maus Freres SA, Solinco Sports, and Sumitomo Rubber Industries Ltd.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Exhibit 146: Validation techniques employed for market sizing
Exhibit 147: Information sources
13.5 List of abbreviations
Exhibit 148: List of abbreviations
About Us
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