According to a research report by San Jose, CA-based Global Industry Analysts Inc., the global market for Sports and Fitness Clothing is projected to reach $231.7 billion by 2024, and the Asia-Pacific region is expected to be fastest growing region, with a CAGR of 6.9 percent over the forecast period. London, U.K.-based Euromonitor research forecasts that the sportswear market in India will record a 11.3 percent CAGR for the 2016-2021 period.
The sportswear industry in India tops fashion segments in the country, and within it, “women’s wear is the fastest growing segment in India now” while the men’s segment “continues to grow at a steady pace of 40 percent,” says Sandeep Mukim, managing director of Bangalore headquartered Proline.
The sportswear market in India has traditionally been dominated by the ‘Big Four’ international brands: Reebok, Adidas, Nike, and Puma, but now Indian brands and other international brands also find a lucrative market.
The modern Indian consumer’s lifestyle is undergoing a change. Rising incomes as well as a rising awareness of lifestyle diseases drive people to focus increasingly on health and wellness.
