The new report by Expert Market Research titled, ‘Global Running Gear Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global running gear market, assessing the market based on its segments like products, gender, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.8%
Running wear acts as a defensive layer, lowering the risk of injuries, and promoting better air circulation when participating in some physical exercise. Consumers may also use smart running gear to monitor their exercise success. The running gear market is expected to expand significantly during the forecast period as a result of these factors. One of the main drivers driving the demand growth is a substantial rise in the number of health-conscious customers as people are becoming more mindful of the benefits of exercise and physical activity. The general recognition that running is one of the most successful modes of exercise has greatly aided the popularity of convenient running gear, thus, propelling the growth of the market.
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Industry Definition and Major Segments
Running gear is the clothing and shoes that a runner wears during the exercise. Gloves, trainers, jackets, smartwatches, tights, and goggles are among the most common athletic wearables. Gloves and coats, for example, are often skin-fit and made of water-resistant fabrics to avoid skin chafing.
On the basis of product, the global running gear market is segmented into:
- Running Footwear
- Running Apparel
- Fitness Trackers
Based on gender, the industry is divided into:
The industry can be broadly categorised on the basis of its distribution channel segments into:
- Speciality and Sports Shops
- Supermarkets and Hypermarkets
- Department and Discount Stores
The regional markets for the product include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
One of the primary reasons leading to the industry’s success is the increase in the number of health-conscious customers as a result of the increased understanding of the benefits of exercise and physical activity. Running is also one of the most effective modes of exercise, which has greatly influenced the popularity of comfortable running gear. Additionally, with the increase in disposable income levels, customers are becoming more likely to use advanced technology. In addition, to draw new customers, manufacturers are adapting high-quality fabrics into running gear and chic styles. These factors are expected to drive the growth of the market. The growing popularity of marathons around the world is also helping to propel the industry forward.
Key Market Players
The major players in the market are Adidas AG, ASICS, Nike, Skechers USA, Inc., and Columbia Sportswear Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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