A recent report by ResearchAndMarkets.com estimates global sports apparel market will expand by 4.9 percent to reach $247.4 billion in 2027. According to the report, by the end of the analysis period discount stores will increase by CAGR 4.7 per cent to $ 81.2 billion. For the next seven years, the brand segment will grow to 4.5 per cent of CAGR, says Textile Focus.
The report expects China to grow by 7.8 per cent CAGR between 2020-2027 and $51.9 billion by 2028. Other markets such as Japan and Canada are predicted to grow by 2,8 per cent, or 3,9 per cent between 2020 and 2027, while Germany is predicted to grow by around 3,5 per cent.
The United States, Canada, Japan, China and Europe are forecasted to grow in the global Supermarkets and Hypermarkets segment to 4.8 per cent of CAGR. By 2027, these regional markets are expected to reach $42.6 million.
In this cluster of regional markets, China will remain amongst the fastest growing. The Asia Pacific market is forecast to reach $33,4 billion by 2027, led by countries like Australia, India and South Korea, while Latin America will expand over the analysis period to 5.5 per cent.