Global sportswear market to reach $184.6 billion in 2020

Increasing health awareness and disposable income, and a surge in female participation in various athletic activities are expected to push the global sportswear market to a $184.6 billion industry by the decade's end. This represents a CAGR of 4.3 percent from 2015 to 2020, according to a recent study published by international business intelligence firm Allied Market Research.

Men's segment will continue to dominate the industry, accounting for 52 percent of the overall revenue. Women's sportswear, however, currently ranking second and in front of children's category, is expected to rise at a faster pace, posting a 5.7 percent CAGR during the forecast period.

This rise in demand, coupled with technological innovations such as health- and fitness-tracking features, is prompting manufacturers to launch more trendy and fashionable designs driving sales further.

The Asia-Pacific region, with China leading the pack, will emerge as the sports apparel market starting 2018, outpacing previous leader North America. The booming athleisure trend, increasing health consciousness and evolving sports industry are predicted to drive growth in the region.

Although the activewear industry is showing strong growth potential, the presence of low-priced counterfeit goods will prove a great challenge. Many prominent sports and fitness apparel have a high price range, which cannot be easily afforded by lower-income groups. This may prompt many in the bracket to buy fake products. The situation can hurt the image of global brands as these imitation designs often have quality issues.