Outdoor Apparel Market to Register 5.3% CAGR, Growth in Tourism Industry to be a Key Trend – Technavio |

NEW YORK, September 2, 2022 /PRNewswire/ — One of the major trends in the outerwear market is the booming tourism industry. Rising personal disposable income and the growth of the tourism industry have increased participation in outdoor activities such as hiking and trekking. This, in turn, has increased the demand for outerwear. The growth of inbound and outbound tourism is driven by the increase in the number of international and domestic business, leisure and sports tourists. These factors will support the growth of the market over the forecast period.

The outdoor clothing market the size should increase by $4.40 billion from 2021 to 2026. Moreover, the growth momentum of the market will accelerate at a CAGR of 5.3% during the forecast period, according to Technavio.

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Outdoor Apparel Market: Major Segmentation

The outdoor apparel market is segmented by distribution channel (offline and online) and by geography (North America, EuropeACPA, South Americaand the Middle East and Africa).

By distribution channel, the offline will generate maximum revenue in the outdoor apparel market due to factors such as adoption of new business and retail strategies such as pricing and wide assortments by retailers as well as expansion of activities. Consumers prefer to purchase outerwear from department stores due to the availability of a wide range of products and the presence of expert customer service personnel.

In terms of geography, APAC will present significant opportunities for market sellers owing to factors such as the increase in millennial population, increase in disposable income, and rising health and fitness awareness among people. Moreover, the market growth in this region will be faster than the market growth in other regions. China and India are the key countries for the outdoor clothing market in APAC.

Outdoor Apparel Market: Key Growth Drivers

Product innovation leading to portfolio extensions and product premiumization is driving the growth of the market. Manufacturers are introducing outerwear that has innovative designs, quality and features. Rising purchasing power, along with the growing preference for innovative, comfortable and lightweight outerwear, is driving sales of these products. The premiumization of products leads to an increase in sales of outdoor clothing. Additionally, premiumization helps manufacturers improve customer engagement with their brands and products, which will drive the market growth.

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Outdoor Clothing Market: Key Vendor Offerings

  • adidas AG – The company offers the Adicolor Classic High Shine Track Jacket, which comes with a full two-way zipper with a stand-up collar, made with recycled content generated from production waste, and available in varying sizes depending on the customer requirements.
  • ASICS Corp. – The company offers the Readyset Lam Jacket for men, which features a soft and stretchy woven fabric with water resistance, designed to help maintain a dry body while running or jogging.
  • Columbia Sportswear Co.- The company offers the Cascade Ridege II Hooded Soiftshell Jacket for Men, which comes with water-resistant fabric and an adjustable cuff and hem for added protection.

Outdoor Apparel Market: Reasons to Buy Our Report

  • Market CAGR over the forecast period 2022-2026
  • In-depth information on factors that will contribute to the growth of the Outdoor Clothing market over the next five years
  • Estimation of the outdoor apparel market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the outdoor clothing market through North America, EuropeACPA, South Americaand the Middle East and Africa
  • Market Competitive Landscape Analysis and Detailed Vendor Information
  • Comprehensive details of the factors that will challenge the growth of the Outdoor Apparel Market vendors

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Outdoor Apparel Market Scope

Report cover

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 5.3%

Market Growth 2022-2026

$4.40 billion

Market structure

Fragmented

Annual growth (%)

4.9

Regional analysis

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

Successful market contribution

APAC at 33%

Main consumer countries

United States, China, Germany, France and United Kingdom

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

adidas AG, Aigle International SA, Amer Sports Corp., ANTA Sports Products Ltd., ASICS Corp., Boardriders Inc., BYN BlackYak and Arendicom GmbH, Callaway Golf Co., Canadian Tire Corp. Ltd., Columbia Sportswear Co., Fenix ​​Outdoor International AG, G-III Apparel Group Ltd., Hanesbrands Inc., Newell Brands Inc., Nikwax Ltd., Norrona Sport AS, Outdoor Research, Patagonia Inc., Under Armor Inc. and VF Corp.

Market dynamics

Parent market analysis, market growth drivers and barriers, analysis of fast and slow growing segments, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

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