Basketball Apparel Market size is set to grow by USD 5.93 billion from 2024-2028, Innovations in basketball apparel designs and portfolio expansion boost the market, Technavio

12.06.24 23:45 Uhr

NEW YORK, June 12, 2024 /PRNewswire/ -- The global basketball apparel market size is estimated to grow by USD 5.93 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.45%  during the forecast period. Innovations in basketball apparel designs and portfolio expansion is driving market growth, with a trend towards introduction of connected basketball apparel. However, inconsistent raw material prices  poses a challenge. Key market players include 47 Brand LLC, Adidas AG, ANTA Sports Products Ltd., ASICS Corp., Authentic Brands Group LLC, Berkshire Hathaway Inc., Decathlon SA, FILA Holdings Corp., Iconix International, Mcdavid, Mitchell and Ness Nostalgia Co., New Balance Athletics Inc., Nike Inc., POINT 3 Basketball, PUMA SE, Russell Brands LLC, SUNLIGHT SPORTS PTE LTD., Under Armour Inc., United Sports Brands, and Ballislife LLC.

Technavio has announced its latest market research report titled Global Basketball Apparel Market 2024-2028

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Basketball Apparel Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.45%

Market growth 2024-2028

USD 5930.43 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.55

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 34%

Key countries

US, Australia, France, Spain, and Argentina

Key companies profiled

47 Brand LLC, Adidas AG, ANTA Sports Products Ltd., ASICS Corp., Authentic Brands Group LLC, Berkshire Hathaway Inc., Decathlon SA, FILA Holdings Corp., Iconix International, Mcdavid, Mitchell and Ness Nostalgia Co., New Balance Athletics Inc., Nike Inc., POINT 3 Basketball, PUMA SE, Russell Brands LLC, SUNLIGHT SPORTS PTE LTD., Under Armour Inc., United Sports Brands, and Ballislife LLC

Market Driver

The basketball apparel market is experiencing a trend towards connected clothing, driven by global technology advancements. In 2017, Nike introduced the NikeConnect jersey, allowing customers to access team and player information via smartphone connection. The Nike NBA Jersey is available for several teams and players, including the Los Angeles Lakers and Philadelphia 76ers. This technology is expected to continue developing throughout the forecast period. 

The basketball apparel market is experiencing significant growth, with a focus on performance and comfort. Popular items include shorts, pants, tops, and shoes in various colors and designs. Technology plays a crucial role, with moisture-wicking and breathable fabrics becoming essential. Comfort is key, with many brands offering adjustable fits and lightweight materials. Colors and patterns vary, from classic team colors to more unique and eye-catching designs.

The market also caters to different age groups and skill levels, with specialized apparel for professionals and casual players alike. Overall, the basketball apparel industry continues to evolve, offering innovative solutions to meet the needs of athletes and fans alike. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

  • In the current market, basketball apparel manufacturers face profit margin instability due to raw material price fluctuations and increased competition from local vendors. These factors lead to price wars, forcing global vendors to lower prices and decrease profit margins. Foreign currency changes negatively impact the cost of raw materials like cotton and natural fabrics. Vendors struggle to keep up with cost changes and anticipate spending, while cost-conscious consumers prefer affordable options, limiting global vendors' sales potential and revenues. This ongoing profit margin volatility poses a significant challenge to the growth of the basketball apparel market.
  • The basketball apparel market faces several challenges. Technical fabrics for moisture-wicking and breathability are essential for player comfort, but their production can be costly. Brands must balance affordability with quality to cater to various customer segments. Customization, such as team logos and player numbers, adds to production complexity and cost.
  • Sustainability is a growing concern, with consumers demanding eco-friendly materials and ethical manufacturing practices. Shipping and logistics also pose challenges due to the bulky nature of apparel items and the need for quick turnaround times. Additionally, keeping up with the latest fashion trends and player endorsements can be a significant investment.

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Segment Overview 

  • End-user 
    • 1.1 Male
    • 1.2 Female
  • Distribution Channel
    • 2.1 Offline
    • 2.2 Online
  • Geography 
    • 3.1 North America
    • 3.2 Europe
    • 3.3 APAC
    • 3.4 South America
    • 3.5 Middle East and Africa

    1.1 Male-  The global basketball apparel market is primarily driven by the male segment. Key product categories include shorts, hoodies, jerseys, tops, long-sleeve t-shirts, t-shirts, basketball pants, basketball tights, and others. Popular tournaments such as the Summer Olympic Games, EuroBasket, FIBA Americas Championship, FIBA World Championship, and FIBA Oceania Championship fuel demand.

    Notable vendors like Nike, Adidas, PUMA, Under Armour, and POINT 3 BASKETBALL offer a range of products, including the Chip/White Wood DRYV Baller 3.0 Men Dry Hand Zone Basketball Shorts, Men Nike NBA Connected Jersey, UA Baseline Cotton Men Basketball Tank Top, and INDIANA HOOSIERS HRC JERSEY. Brand endorsements, such as those from James Harden of Adidas, significantly contribute to market growth.

    For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report

    Research Analysis

    The Basketball Apparel Market leverages high-quality fabrics like polyester and blends for sweat absorption and comfort, catering to players' performance needs. This sector also includes T-shirts, pants, and ankle shoes, emphasizing comfort for both games and formal settings. Customization options—such as name, number printing, logos, and team branding—are essential, enhancing personal and team identity.

    Parallelly, the evolution in Hunting Apparel, Sports Apparel, and Yoga Clothing markets highlights the ongoing innovation to meet the specific demands of various sports and fitness activities, ensuring optimal performance, comfort, and style across all athletic wear sectors.

    Market Research Overview

    The Basketball Apparel Market is a dynamic segment of the Sports Apparel industry, offering a range of specialized clothing and accessories including jerseys, shorts, socks, shoes, and training suits. Designed with moisture-wicking and breathable materials, this apparel ensures optimal performance and comfort. The market's growth is driven by the sport's rising popularity, spanning professional and amateur levels. This trend parallels growth in other segments like Hunting Apparel and Yoga Clothing, each catering to specific consumer needs with tailored functionality and design. Personalized features such as team logos and player names further enhance the appeal of basketball apparel, contributing to its expanding market footprint.

    Table of Contents:

    1 Executive Summary
    2 Market Landscape
    3 Market Sizing
    4 Historic Market Size
    5 Five Forces Analysis
    6 Market Segmentation

    • End-user
      • Male
      • Female
    • Distribution Channel
      • Offline
      • Online
    • Geography
      • North America
      • Europe
      • APAC
      • South America
      • Middle East And Africa

    7 Customer Landscape
    8 Geographic Landscape
    9 Drivers, Challenges, and Trends
    10 Company Landscape
    11 Company Analysis
    12 Appendix

    About Technavio

    Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

    With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

    Contacts

    Technavio Research
    Jesse Maida
    Media & Marketing Executive
    US: +1 844 364 1100
    UK: +44 203 893 3200
    Email: media@technavio.com
    Website: www.technavio.com/

    Global Basketball Apparel Market 2024-2028

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    SOURCE Technavio