The global sportswear market is estimated to reach approximately US$278.7bn by 2020, growing at a compound annual growth rate (CAGR) of 4.16% between 2016 and 2020. Substantial growth is being driven by several factors including: the rising level of health and wellbeing awareness globally, the athleisure trend, women's participation in sports and fitness activities, as well as mega sports events which not only drive demand for the products used by professional athletes, but also result in hype driving demand among amateurs. Looking at geographical markets, while the Asia-Pacific region is expected to escalate the market share and size, it is expected to become the second-most important market segment by 2020, overtaking Europe; while the North American market remains the most important sportswear market by size. The growth acceleration of Asia Pacific is primarily due to augmented health and fitness awareness and improved sports infrastructure. As Asia will represent around two-thirds of the global middle-class population by 2030, with around 54% of urban households in China classified as upper middle class by 2022, there seems to be a lucrative opportunity for higher-end sportswear.
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