2022 Winter Olympics hosting bolsters China's activewear, functional fabrics

Analysts predict China's sportswear and functional fabric markets to surge as the country prepares to host the 2022 Winter Olympics.

Recent data from France-based trade consulting company Daxue revealed China's sportswear industry has grown twice as much compared to the country's overall apparel market. International business intelligence firm Euromonitor, meanwhile, predicts the activewear market to surpass the nation's luxury goods market by 2020, posting double-digit ascent to 280.8 billion yuan ($43 billion) overtaking the single-digit growth of the latter worth 192.4 billion yuan ($30 billion) during the period.

Experts' optimism is also bolstered by the fact that many leading local and international sportswear brands added a combined 1,000 retail outlets each year, following the hype of the Beijing Olympics, between 2007 and 2011.

The government is likewise doing its part to promote winter sports. With the goal of increasing the number of people engaging in winter sports from 10 million to 300 million by 2022, China plans to establish an additional 800 ski resorts and 650 ice-skating rinks across the country during the period.

Such endeavors are expected to push demand for sportswear, including winter activewear, further.

This growth in the activewear market is also fuelling the functional fabrics industry. According to the Taiwan Textile Federation, they anticipate strong sales of functional materials as these become among the top priorities of sportswear manufacturer and brands. Popular features include warmth retention, cooling, stain and dirt resistance, UV protection, and with the rise of smart apparel, conductivity and battery-charging capability.