Sports Jacket Market was valued at USD 12.5 Billion in 2022 and is projected to reach USD 18.0 Billion by 2030, growing at a CAGR of 5.0% from 2024 to 2030.
The sports jacket market is experiencing significant growth, driven by evolving consumer preferences, technological advancements, and expanding global demand. This article delves into the current state of the market, highlighting key trends, challenges, and opportunities shaping its trajectory.
The global sports jacket market was valued at approximately USD 2.313 billion in 2023 and is projected to reach USD 3.1808 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.94% during the forecast period from 2024 to 2031. This growth is attributed to increasing fashion consciousness, the casualization of work attire, and the rise of e-commerce platforms facilitating broader market reach.
Fashion Consciousness: Consumers are increasingly prioritizing personal style, leading to a higher demand for versatile and stylish sports jackets. The integration of sporty jackets into high-fashion runways, as seen with brands like Prada and Bottega Veneta, underscores this trend.
Casualization of Work Attire: The shift towards more relaxed dress codes in professional settings has boosted the popularity of sports jackets as they offer a balance between comfort and professionalism.
E-commerce Expansion: The proliferation of online shopping platforms has made sports jackets more accessible to a global audience, contributing to increased sales and market penetration.
Technological Advancements in Fabric: Innovations such as moisture-wicking materials and lightweight fibers enhance the functionality and appeal of sports jackets, catering to the needs of active consumers.
India: The Indian market has witnessed substantial growth, with companies like Decathlon expanding their presence to 129 stores and employing 5,700 individuals. The sportswear market in India is valued at $8-9 billion, with an annual growth rate of 12-15%.
China: A surge in outdoor activities such as biking and hiking has led to increased spending on athletic apparel, including sports jackets. Companies like Amer Sports have reported significant sales growth in the region.
The market faces challenges such as volatile market conditions and unseasonable weather affecting sales. For instance, JD Sports Fashion reduced its annual profit outlook due to a 1.5% decline in like-for-like sales during November and December, influenced by high levels of promotional activities by competitors.
Modern consumers prefer versatile products, especially when it comes to jackets. The demand has been driven by the change in lifestyle, with sports jackets being used for various occasions, from business meetings to casual outings. The trend of remote working has also contributed to the demand, as individuals seek comfortable yet professional attire for virtual meetings.
Brands are focusing on adopting various marketing strategies such as celebrity endorsements, product premiumization, and expanding digital presence to connect directly with customers. For example, Kristin Juszczyk partnered with entrepreneur Emma Grede to launch Off Season, a sports apparel brand offering elevated apparel for sports fans, initiated through Juszczyk's DIY fashion creations.
The sports jacket market is poised for continued growth, driven by evolving consumer preferences, technological advancements, and expanding global demand. Brands that adapt to these trends and address the challenges will be well-positioned to capitalize on the opportunities in this dynamic market.
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Burberry
Versace
Tom Ford
Prada
Dolce&Gabbana
Canali
Ferragamo
Ermenegildo Zegna
Armani
Brioni
Burberry
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Sports Jacket Market
Supermarket & Mall
Brandstore
E-commerce
Others
Based on Types the Market is categorized into Below types that held the largest Sports Jacket market share In 2023.
Wool
Cotton & Linen
knitting
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Sports Jacket Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Sports Jacket Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Sports Jacket Market, By Type
6. Global Sports Jacket Market, By Application
7. Global Sports Jacket Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Sports Jacket Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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