The basketball apparel market is anticipated to grow with a CAGR of 5.6% in the forecast period. Basketball attire is made using different fabrics, mostly polyester. The modern production of clothing is worn on sports or formal occasions including high-quality fabrics. Blended fabrics find large applications in the development of apparel for sports.
Compared to earlier years, people now are more aware of their health and also actively taking part in outdoor games. Apart from fun, basketball is preferred for its fast and exciting pace. It’s one of the popular sports played worldwide, especially in the US. As per the survey by the Sports and fitness industry association (SFIA), basketball took lead over other types such as soccer, football, and ice hockey.
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Competitive Landscape
“Celebrity marketing, Portfolio expansion: ways to competitive edge”
The sports apparel market is dominated by certain popular brands. These companies heavily prefer to keep customers intact with partnership and acquisition tactics. The companies are improving product designs and portfolios to gain the attention of the target population. These firms are relying on celebrities and sports players to promote their brands. Personality influence is a major driver for these brands augmenting their sales further.
Basketball apparel brands tend to focus on vibrant colors and aesthetic looks that include a touch of fashion keeping youth participants in mind. These companies are focused on offering discounts and alluring offers to attract more customers and gain a competitive edge over the competition firm. Key brands in this market are – Nike, Adidas, Puma, Under Armour, Spalding, Fila, Print 3, Reebok, Mcdavid, and others.
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Basketball Apparel Market Segmentation
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