2013-03-14 11:54:11 - Growing preference for a healthy lifestyle, surging brand consciousness among the masses and booming online market for sports apparel and footwear to escalate growth
New Delhi: 25/2/2013- The sports apparel and footwear market in the country is characterized by intense competition which poses major threat to the leading companies. The athletic apparel market in Australia is small, competitive and well serviced by domestic companies .The market in Australia, majorly represented by the operations of Rebel Sports, Amart All Sports, Lorna Jane and others is highly competitive. The domestic brands have captured the market share of international giants and strengthened its foothold on large scale in the country. The Australian market for sports apparel has experienced rapid growth over the last two years due to the increased desire for participation in sports and fitness activities among the masses. There has been a greater interest in
maintaining healthy lifestyle, which has been strengthened by events such as the Commonwealth Games in Melbourne in 2006. Several government programs such as the State of Victoria Government campaign ‘Go for Your Life’ is also encouraging people to participate in physical activities. Thus, the trend towards physical recreational pursuits is also spurred by ‘fun runs’ and the media coverage of national champions such as golf star Greg ‘the Shark’ Norman.
The demand for apparels for water sports such as water-skiing, deep-sea fishing, sailing, windsurfing, swimming, surfing and skin-diving is immense in Australia. While participation in mainstream sports including basketball, baseball, golf and others in the country has experienced a decline in the recent years, action sports have shown to be a high growth sector of the sport industry both in terms of participation and delivery. Athletic footwear market in Australia is majorly confined to running, leisure, cross training, football, court indoor and outdoor and basketball.
The Australian market for sports apparel and footwear has showcased tremendous performance over the last few years by growing at 8.6% over the period 2006-2012. This has been envisaged by the rising number of sports tournaments in the country along with strong growth in the spectatorship of the same. Rising health consciousness leading to an increased desire to participate in fitness activities has also aided the growth of the market over the last few years. Surging sports sponsorships by leading players is also leading to growth of the market in Australia. It is considered a way of promoting sporting apparels and footwear brands by way of enabling brand visibility through sporting events
According to the research report “Australia Athletic Apparel and Footwear Industry Outlook to 2017- Surging Participation in Sports Paving Way for Growth” by Ken Research, the Australia athletic apparel market would grow at a CAGR of 6.8% from 2013-2017, thus reaching USD 0.9 billion by 2017 in the midst of growing preference for athletic footwear amongst the youth and the adults and the growing number of people involved in activities such as jogging and walking.
Preference for a healthy lifestyle gaining continuous momentum amongst the population of Australia with a greater number of people engaging themselves more into jogging, walking and several physical or fitness activities to remain in shape which in turn is expected to impel the demand for jogging, walking, training and other related athletic shoes in the near future as well as in the long run. In addition, a majority of demand for athletic footwear is expected to come from the women segment of the market due to the increasing participation of women in sports and other fitness activities.
The report provides detailed overview on the athletic apparel and footwear market in Australia and aids readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, athletic apparel and footwear manufacturing companies, suppliers and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
For more information on the industry research report please refer to the below mentioned link: