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NEW YORK, United States, Oct. 04, 2022 (GLOBE NEWSWIRE) — According to Facts and Factors has published a new research report titled “Sports Bra Market Size, Share, Growth Analysis Report By Distribution Channel (E-Commerce, Brand Outlets, Company Website, and Offline Retail Stores), By Design (Non-Padded, and Padded), and By Region – Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Sports Bra Market size & share in terms of revenue was worth of USD 43725 Million in 2021 and it is expected to surpass around USD 95324.6 Million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 12.1% during the forecast period 2022 to 2028.”
Sports Bra Market Overview:
A sports bra is a women’s clothing product to be worn during sports activities. It has become an important part of the modern-age world where the female force is undertaking various physical and recreational activities either for professional reasons or as a part of daily routine to maintain physical health. Companies in the segment view sports bras as a way of winning female athletes that have Millions of followers thus reaching a larger consumer database. Earlier sports bras were considered a luxury and were used only by a certain section of the female population. However, with growing awareness activities like describing why a sports bra is a necessity, companies have worked extensively to cater to the different demands of end-consumer from every segment.
In 2018, The Sports Bra project was initiated by Sarah Dwyer-Shick, requesting brands and people to donate sports bras to provide them to athletes who faced barriers in accessing the product due to a variety of reasons. The movement since then has gained a lot of momentum and has reached other parts of the world like Australia. There are two types of sports bras. One that compresses breasts and the other that encapsulates them.
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Global Sports Bra Market: Growth Drivers
The global sports bra market is projected to grow owing to the increasing integration of clothing design, manufacturing, and technology. In the modern world, women have high expectations from the brand and players present in the market. With growing awareness and greater independence, end-consumers have started holding brands accountable for the kind of products and services provided to them. The new self-aware consumer knows exactly what they want for the price they pay to avail of a certain service or a product. In this case, sports bra manufacturers are aware that the consumers expect a certain quality, grade, and type of product that caters to their specific needs. To meet the growing expectations, companies have started investing heavily in deploying technology to understand, research to develop better ways of manufacturing, developing new fabrics, and using quantifiable knowledge to create products that will be accepted in the global market.
The sizing issues may restrict the global market expansion while more growth opportunities can be expected owing to increasing investment in marketing & advertisement. However, counterfeit and low-quality products may create challenging situations.
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Sports Bra Market: COVID-19 Impact Analysis
Covid-19 resulted in a positive push in the global market cap after the initial lockdown impositions were slowly lifted. Many women were known to have started some form of workout while staying at home as a means of taking care of their physical and mental length. Once the online purchase platforms opened for operation, the global market started witnessing a rise in sales. In 2020, more than 55 Million people were forecasted to have started practicing yoga and 72% of them were females.
Sports Bra Market: Segmentation Analysis
The global sports bra market is segmented based on distribution design, channel, and region
Based on the design, the global market is segmented into non-padded and padded. The global market witnessed a high adoption rate for non-padded bras since padded underwear can lead to more discomfort in case of ill-fitting. Padded bras are most effective when the breast completely fits the garment, otherwise, they may lose their credibility. As per official data, around 80% of the women wear the wrong size bras resulting in the product becoming ineffective in delivering the expected outcome.
Based on distribution channel, the global market segments are e-commerce, brand outlets, company website, and offline retail stores. The highest revenue-generating segment is the e-commerce section owing to the ease of purchase, availability of options, and excellent customer care helping buyers from choosing the product until the final delivery and post-delivery care as well. As per a 2021 Statista report, around 21% of Nike’s sales in 2020 were owed to first-party e-commerce.
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The report also provides an in-depth analysis of the market’s main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company’s global presence, competitors, service offers, and standards. Some of the main competitors dominating the global Sports Bra market include –
Key Insights from Primary Research:
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Europe is projected to lead the global sports bra market with high revenues owing to high product awareness and adoption rate. The female population of European countries is known for physical fitness. Since there is a direct positive relationship between physical and mental health, almost all medical practitioners recommend women undertake some form of regular physical activity even if not for professional reasons. This is one of the major reasons why a large number of females in the EU are known to be accustomed to recreational activities regularly. The regional market of North America is projected to grow owing to the exceptionally high budget of brands for the marketing and advertising of the product. Nike is known to constantly collaborate with influential sports personalities, giving them the liberty to help Nike design the product which is an excellent strategic way of creating brand awareness and acceptance.
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The global Sports Bra market is segmented as follows:
By Distribution Channel
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