The global sportswear market will see the greatest growth in the coming years in emerging markets, particularly in the Asia Pacific, Middle East and Africa regions. This is the result of the study “Global Sportswear Market to 2029” by the British market research company GlobalData. The study analyzes the development of the global sportswear market until 2029.
Sportswear takes a leadership position
Additionally, the sportswear market will take a leading position in the overall apparel market, meaning that the demand for comfort-oriented and innovation-driven products will dominate the market.
The report shows that the entire sector will grow at a compound annual growth rate (CAGR) of 3.3 percent between 2024 and 2029 to be worth $506 billion, which is 0.9 percentage points higher than the global apparel market. By 2029, sportswear is expected to account for 21.4 percent of all apparel sales as consumers increasingly value comfort, functionality and compelling brand storytelling.
“Emerging markets will play a critical role in the next phase of expansion for sportswear,” says Chloe Tedford-Jones, apparel analyst at GlobalData. “The global sportswear market grew 3.2 percent to $430.3 billion in 2024, significantly outperforming the overall apparel sector, which grew just 0.7 percent.” It expects more moderate growth here in the next few years due to the maturation of Western markets and the decline in discretionary spending.”
According to the report, Asia Pacific and the Middle East and Africa alone will achieve a compound annual growth rate (CAGR) of 4.4 percent and 7.1 percent, respectively, due to rapid urbanization, increasing health awareness and the growing middle class.
The influence of Asian brands is growing
For the major players in the sports market, this means that competition will continue to increase. Nike will remain the largest sportswear brand in 2025 with a total market share of 12.7 percent, although this value has fallen by 1.5 percentage points compared to the previous year. The reason for this is the stronger competition from other providers. Adidas and Lululemon are expected to gain market share, while Chinese brands Li-Ning and Anta continue to rapidly expand their international presence. In addition, takeover interests in the Puma brand from companies such as Anta, Asics and Li-Ning show the growing influence of Asian companies in this market.
The online market supports the continued growth of emerging markets. “The online channel has further reinforced the importance of emerging markets to the growth of the sportswear industry, as online spending on sportswear increased 6.8 percent to $153.3 billion in 2024,” Tedford-Jones continued.