Snow Sports Apparel Market Size, Share, Growth, Trends and Industry Analysis Reportby Susan Hill Business Consultant
The global snow sports apparel market size is expected to reach USD 3.5 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.4% over the forecast period. The market is driven by growing importance of winter sports among millennials as they provide vitamin D exposure and improve tone muscles. Additionally, during fall season in North America and Europe, people prefer enjoying snow sports on weekend to keep themselves fit for a longer time, which, in turn, is likely to have a significant impact on the industry growth.
Top apparel dominated the market for the year, 2018. Growing popularity of snow sportswear among the adult population for safety as well as appearance purposes is expected to have a positive impact on the snow sports apparel market growth. Furthermore, increasing demand for shooting social media videos of winter sports among the youth population is driving manufacturers to launch various fashionable products.
The women segment is expected to be the fastest growing application, expanding at a CAGR of 5.9% from 2019 to 2025. Increasing number of women participants from developing countries including China, Mexico, and South Africa is driving the sales of women winter sports wear. Furthermore, increasing number of women snow sports events by authorities at the global level is expected to open new avenues over the next few years.
The offline segment is the largest distribution channel, with a revenue of USD 1.9 billion in 2018. Increasing number of specialty snow sports stores, coupled with their try and buy option, is expected to boost the market growth. Consumers prefer to purchase their products from offline channels as they can choose from different brands and are able to negotiate product price with retailers.
Asia Pacific is expected to at the fastest CAGR of 6.3% from 2019 to 2025. Growing middle-class population in developing countries such as China and India is a key factor driving the market in this region. As a result, the manufacturers are expected to establish their strategic business units including brand retail outlets in order to cater to the growing requirements of snow apparel among consumers who are interested in leisure activity.
Key manufacturers in the market include VF Corporation; Columbia Sportswear Company; Kering; Amer Sports; adidas Group; DESCENTE LTD.; Decathlon; Lafuma; GOLDWIN INC.; and Skis Rossignol S.A. The companies are taking efforts on designing new products in order to expand their market share.
Further key findings from the report suggest:
- Bottom apparel
products are expected to be the fastest growing segment with a CAGR of
6.8% from 2019 to 2025
- The men
application segment was the largest segment, with a revenue of USD 1.5
billion in 2018
- The online
segment is the fastest growing distribution channel with a CAGR of 6.1%
from 2019 to 2025
- North America was the largest region with a revenue of USD 918.9 million in 2018.
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Created on Nov 13th 2019 07:58. Viewed 118 times.