The Global Sports Underwear Market size is expected to grow from USD 10.15 billion in 2022 to USD 23.90 billion by 2030, at a CAGR of 11.3% during the forecast period (2023-2030).
Market Overview:
A form of sports underwear that a person wears while physical exercise is sports underwear. It is intended to meet the demands of persons who participate in various activities as well as those who are just active and wish to keep comfortable. The purpose is to keep the user dry and avoid chafing, which can cause skin abrasions or pain. Sports manufacturers frequently construct their items with moisture-wicking fabric to prevent sweat from penetrating through garment layers and into the skin. Furthermore, sports underwear is intimate clothing worn to protect men's and women having genital organs while also aiding in hygiene.
Top Key Players in the Sports Underwear Market:
Decathlon, Adidas, Jockey, Nike, Neleus, Under Armour, ExOfficio, Nice Laundry, Lululemon, Icebreaker, SAXX, Neleus, Reebok, BALEAF SPORTS, Rhone, New Balance, 2(X)IST, L Brands, ExOfficio and others major players.
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Market Dynamics and Factors for the Sports Underwear Market:
Drivers:
Increase in Awareness about Physical Activity and Health Consciousness among Individuals
In the global arena, the sports underwear industry is growing at a quick rate.
An increase in awareness about physical activity and health consciousness among individuals; rising spending on fitness-related equipment such as yoga mats, exercise bikes, and so on; availability of various types of workout clothing that helps athletes perform better and avoid skin irritations during their workout sessions; and an increase in demand from the female population who engage in various forms of activity.Opportunities:
The Rise in Numerous Start-Ups throughout the World
The rise of numerous start-ups throughout the world is expected to generate enormous potential prospects for the sports underwear industry. For instance, CXP's sports underwear has cutting-edge technologies. It's a unique piece of clothing with a fused multi-panel waistline rather than the typical 360-degree elasticated waistband. This has the advantage of allowing them to control the pressure applied across the waistline, which improves garment stability and reduces weight. They may also adjust the front waistband panel's tightness to relieve stomach discomfort and increase comfort.
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Segmentation Analysis of the Sports Underwear Market:
By Type, the sports bras segment is expected to dominate the sports underwear market during the forecast period. Sports bras are designed for use by athletes, particularly those who require extra support when exercising. They are distinguished from normal brassieres by their increased support and larger straps.
By Application, the male segment is expected to hold the maximum sports underwear market share, and the female segment is expected to grow with a significant CAGR during the forecast period. Male athletes would frequently wear them beneath uniforms to remain cool and move more freely.
By Type
- Tap Pants
- Boxer Briefs
- Sports Bras
- Boyleg Briefs
- Others
By Application
- Male
- Female
- Kid
By Distribution Channel
- Online Sales
- Offline Stores
Regional Analysis of the Sports Underwear Market:
North America region is expected to dominate the sports underwear market during the forecast period due to the growing demand for fitness and health-tracking wearable clothes in the region. Because of the large number of global and local intimate clothing producers in the United States, the sports underwear industry is extremely competitive. Customers want contemporary and modern men's underwear; therefore, the market is defined by a high level of brand loyalty. Customers are often hesitant to switch to fresh brands that are entering the market.
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
In 2021, Buttercloth, a Shark Tank menswear firm, debuted a new range of underwear using a cooling frosty cotton fabric. The brand is growing its product line is redefining comfort and cool underwear, in addition to the world's most comfortable shirt.
In June 2021, Adidas and Delta Galil Industries, Ltd., a global manufacturer and marketer of branded and private label apparel products for men, women, and children, announced a global licensing agreement in which Delta Galil will design, manufacture, and distribute underwear collections for men and women under Adidas Badge of Sport and Originals labels. The new men's and women's collections will be offered in the APAC, EMEA, Europe, and Latin America areas starting in spring 2022, with the women's collections also releasing in North America.
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