Tracksuits Market to grow at a CAGR of 7.9 percent reaching USD 15.95 Bn by 2029
Tracksuits Market is segmented based on Type, End User, Sales Channel, and region. A bottom-up approach was used to estimate the Tracksuits Market size.
Pune, May 12, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a global market research firm has published a competitive intelligence market research report on “*Tracksuits** Market*“. The Tracksuits market size was valued at USD 9.37 Bn in 2022. The total Tracksuits Market revenue is expected to grow at a CAGR of 7.6 percent from 2023 to 2029, reaching USD 15.95 Bn during the forecast period.*Market Size in 2021* USD 9.37 Bn
*Market Size in 2029* USD 15.95 Bn
*CAGR* 7.6 percent (2022-2029)
*Forecast Period* 2023-2029
*Base Year* 2022
*Number of Pages* 265
*No. of Tables* 129
*No. of Charts and Figures* 121
*Segment Covered* Type, Application, Sales Channel, and Region.
*Regional Scope* North America, Europe, Asia Pacific, Middle East and Africa, South America
*Report Coverage* Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
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*Tracksuits** Market** Scope and Research Methodology*
The research methodology utilized in the analysis of the tracksuit market encompasses a combination of primary and secondary research methods. The primary research phase involved gathering data directly from the market through surveys, interviews, and observations. This approach provided valuable first-hand information on customer behavior, preferences, and market trends. On the other hand, the secondary research phase involved sourcing data from published sources such as industry reports, company websites, and news articles. This comprehensive approach offered a broad overview of the market.
The analysis serves as a valuable guide for stakeholders, investors, market players, followers, and new entrants, providing an overall perspective of the tracksuit market for the formulation of investment strategies and marketing tactics. The bottom-up approach was employed to estimate the market size of the tracksuit industry. This approach involved aggregating data from individual segments to derive a total market size estimate.
*Tracksuits** Market** Overview*
The tracksuit market has experienced significant growth in recent years, driven by various factors. A tracksuit is a versatile apparel ensemble consisting of a jacket or sweatshirt and matching pants, primarily designed for athletic or casual wear. It offers comfort, flexibility, and style, making it popular among individuals engaged in sports activities, fitness enthusiasts, and those seeking a trendy and relaxed outfit. One of the key drivers of the tracksuit market is the growing emphasis on health and wellness. As people become more health-conscious, there has been increased participation in sports and fitness activities, leading to a higher demand for suitable clothing such as tracksuits.
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*Growing **Focus** on **Health** & **Wellness* *Driving Market Growth **of the* *Tracksuits** Market*
The growing emphasis on health and wellness has led to increased awareness among individuals about the benefits of regular physical activity. People now understand that engaging in sports, fitness activities, and exercise routines can improve cardiovascular health, enhance muscle strength and flexibility, and reduce the risk of chronic diseases. As a result, there is a higher demand for suitable clothing that supports these active pursuits, and tracksuits have emerged as a preferred choice due to their comfort, flexibility, and performance-enhancing features. The rise of health and wellness as a lifestyle choice has given birth to a thriving fitness culture. Individuals are actively seeking ways to incorporate physical activity into their daily routines, whether it's through gym workouts, outdoor sports, yoga, or recreational activities. This shift towards an active lifestyle has created a demand for clothing that allows for easy movement and comfort during exercise. Tracksuits, with their loose fit, breathable fabrics, and moisture-wicking properties, cater to these needs and have become an essential part of the fitness culture.
*North **American** region is expected to fuel the **Tracksuits* *Market** growth*
In the regional analysis of the tracksuit market, North America emerges as the dominant player in 2022. The region's leading position is primarily attributed to the exponential growth in the demand for tracksuits within the sports industry. North America has witnessed a surge in the adoption of active lifestyles and fitness trends among its population. People in the region are increasingly prioritizing physical fitness and wellness, leading to an increased interest in sports, gym workouts, and outdoor activities. Tracksuits, with their comfort and functional design, have gained popularity as the preferred attire for these active pursuits. This preference for tracksuits as both sportswear and fashionable casual wear has contributed to the region's dominance in the tracksuit market. North America's tracksuit market is characterized by the presence of established sports apparel brands, extensive distribution networks, and a competitive landscape. Major players in the industry, such as Nike, Adidas, Under Armour, and Puma, have a strong market presence in North America, offering a wide range of tracksuits catering to different customer segments. These brands leverage their brand recognition, innovative designs, and technological advancements to capture a significant market share in the region.
*Tracksuits** Market* *Segmentation*
*Based **on Type**, **the **Cotton* *segment** to dominate the **Tracksuits** Market** over the forecast period*
The tracksuit market can be segmented based on the types of fabrics used, including cotton, wool, fiber, and others. Each fabric type offers unique characteristics and benefits, catering to different consumer preferences and needs. This type-based segment analysis provides insights into the market share and growth potential of each fabric category within the tracksuit market. the cotton segment holds the largest market share in 2022 and is expected to sustain its dominance during the forecast period. Cotton is the most widely produced natural fiber globally and is known for its exceptional comfort and durability, making it a popular choice for apparel, including tracksuits. One of the key advantages of cotton fabric, particularly in the tracksuit market, is its ability to absorb moisture effectively. Cotton can absorb a significant amount of water, which makes it an ideal choice for moisture-wicking in sportswear. The fabric absorbs sweat from the body, keeping the wearer dry and comfortable during workouts or intense physical activities. Furthermore, cotton's quick-drying property ensures that the absorbed moisture evaporates rapidly, maintaining a comfortable environment for the wearer.
*Based on **End Use**, **the **Male **segment** to dominate the **Tracksuits** Market over the forecast period*
The tracksuit market can be segmented based on the end users, including men, women, and children. Each segment caters to specific consumer preferences and demands. This end-user-based segment analysis provides insights into the market share and growth potential of each segment within the tracksuit market. In 2022, the male segment acquired a higher value share in the tracksuit market. Men's preference for comfortable yet attractive clothing drives the demand for tracksuits in this segment. Athleisure product offerings and features specifically cater to their requirements, resulting in a boost in the sales of men's tracksuits. The female apparel segment in the tracksuit market is highly fragmented. The increase in the adoption of tracksuits among female consumers has led to a surge in demand for fashionable athleisure products. Women are seeking tracksuits that not only provide comfort but also reflect the latest fashion trends.
*Based on **Sales Channel Supermarket / Hypermarket** segment** to dominate the **Tracksuits** Market over the forecast period*
The tracksuit market can be segmented based on sales channels, including supermarket/hypermarket, e-commerce, brand outlets, and others. Each sales channel plays a crucial role in the distribution and availability of tracksuits to consumers. This sales channel-based segment analysis provides insights into the market share and growth potential of each channel within the tracksuit market. In 2022, the supermarket/hypermarket segment dominated the tracksuit market share. This can be attributed to the easy availability of grooming products, including tracksuits, in these stores at affordable rates. Supermarkets and hypermarkets offer a wide range of options, both branded and private label, catering to diverse customer preferences. While the supermarket/hypermarket segment holds the largest market share, the e-commerce channel is rapidly gaining importance in the tracksuit market. E-commerce platforms provide the convenience of online shopping, allowing customers to browse and purchase tracksuits from the comfort of their homes.
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*Tracksuits** Market** Key Players Include:*
· Nike
· Zara
· Adidas
· H&M
· Uniqlo
· Gap
· Next
· Ralph Lauren
· Hugo Boss
· Lululemon
· Arcadia
· Aeropostale
· Jack&Jones
· Paul Frank
· Kappa
· Fila
· Puma
· Converse
· Reebok
· Anta
· Lining
· Mizuno
· Umbro
· Szpersons
· Banc
· Meters/bonwe
*NIKE*
Nike, a renowned global brand, holds a prominent position in the tracksuit market. With its strong reputation for innovation, quality, and style, Nike has established itself as a leader in the athletic apparel industry. The company offers a wide range of tracksuits that combine performance-enhancing features with fashionable designs.
*ZARA*
ZARA, a globally recognized fashion brand, has made a significant impact in the tracksuit market with its distinctive approach to design and fast-fashion business model. While primarily known for its trendy and affordable clothing lines, ZARA has also ventured into the tracksuit market, catering to the growing demand for fashionable and comfortable athletic apparel. ZARA's tracksuit collection reflects the brand's emphasis on style, quality, and versatility
*Key questions answered in the **Tracksuits** Market** are:*
· What is Tracksuits?
· What was the Tracksuits market size in 2021?
· What is the expected Tracksuits market size by 2029?
· What is the growth rate of the Tracksuits Market?
· Which are the factors expected to drive the Tracksuits market growth?
· Which factors are expected to restrain the Tracksuits market growth?
· Which segment dominated the Tracksuits market growth?
· What is the demand pattern for the Tracksuits market?
· Which region held the largest share in the Tracksuits market?
· Who are the key players in the Tracksuits market?
*Key Offerings:*
· Past Market Size and Competitive Landscape (2018 to 2021)
· Past Pricing and price curve by region (2018 to 2021)
· Market Size, Share, Size & Forecast by different segment | 2022−2029
· Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Product Type, End User, region
· Market Segmentation – A detailed analysis by Type, End User, Sales Channel,
· Competitive Landscape – Profiles of selected key players by region from a strategic perspective
· Competitive landscape – Market Leaders, Market Followers, Regional player
· Competitive benchmarking of key players by region
· PESTLE Analysis
· PORTER’s analysis
· Value chain and supply chain analysis
· Legal Aspects of business by region
· Lucrative business opportunities with SWOT analysis
· Recommendations
*Maximize Market Research is leading **Healthcare **research firm, has also published the following reports:*
*Sports Apparel** Market**:* The total market size was valued at USD 171.25 Bn in 2021 and the total revenue is expected to grow at a CAGR of 6.7. percent from 2022 to 2029, reaching USD 287.70 Bn. The growing trend of sporting activity among population for fitness is driving market growth
*Functional Apparel **Market**: *The total market size was valued at USD 137.83 Bn in 2021 at CAGR 7.43 percent and is expected to reach USD 244.54 Bn by 2029. Growing trend of health & wellness is driving market growth.
*India Sports Apparel** Market**: *The total market size was valued at USD 579.47 Mn in 2021 and the total Sarcoma Drugs revenue is expected to grow by 16.2 percent from 2022 to 2029, reaching USD 2238.13 Mn. Growing awareness among Indian population & increase in local manufacturers is driving the market.
*Sports Footwear **Market**: *The total market size is expected to grow at a CAGR of 4.8 percent over the forecast period and the market is expected to reach USD 141.79 Bn by 2029. Growing focus on fitness is driving market growth.
*About Maximize Market Research:*
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