Expert Market Research Explores the Top 10 Companies in the Global Sportswear Market

The global sportswear market reached nearly USD 313.22 billion in 2023. It is estimated to grow at a CAGR of 6.6% between 2024 and 2032, to attain a value of nearly USD 558.14 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the rising disposable incomes and increased interest in sports and fitness.

Nike Inc., Adidas AG, and Puma SE are the leading players in the sportswear market globally. According to their respective Annual Reports, the past five-year revenue trend for these leading sportswear companies reveals notable information. Nike leads the position among these three players in terms of revenue. The company generated a revenue of USD 39.12 billion in 2019, which reached USD 51.22 billion in 2023. The company witnessed a substantial 30.9% increase during the tenure. This growth trajectory showcases Nike's market dominance and strategic expansion in the global market.

It is followed by Adidas, whose revenue trajectory, shows a gradual downfall post-pandemic. The company observed fluctuation from USD 26.47 billion in 2019 to USD 23.19 billion in 2023, peaking at USD 25.12 billion in 2021. On the other hand, Puma demonstrates steady growth, from USD 6.16 billion in 2019 to USD 9.31 billion in 2023. It witnessed a 51.1% increase from 2019 to 2023. This reflects increased market penetration and strong brand-strengthening strategies.

These major players observed a drop during 2020 due to the COVID-19 pandemic. The companies saw an average drop of -9.3% during this year.

Sales by Product Category for 3 Leading Sportswear Players, 2023 (%)
  
 

In 2023, footwear led all the product categories for all three brands. Nike held the first position, with 68% of its sales in this segment. Adidas followed with 57% of its sales in footwear, maintaining a strong position. Meanwhile, 53% of Puma’s sales were contributed by footwear, indicating its competitive stance. In the apparel category, Adidas led with 36% of its sales, followed by Puma at 32%, and Nike at 28%, respectively.

Top 10 Sportswear Manufacturers in the World:

Nike, Inc.

Nike Inc. is a global leader in designing, developing, and manufacturing sports apparel, footwear, accessories, equipment, and services. The company provides its products through key brands, including Nike Pro, Nike+, Nike Golf, Nike Blazers, Air Jordan, Air Max, and others, as well as subsidiaries such as Jordan, Hurley Int., and Converse.

Adidas AG

Adidas engages in the design, distribution, and marketing of athletic and sporting lifestyle products. The company continuously pushes the boundaries of its products, experiences, and services by leveraging a profound understanding of consumer habits and trends. With a robust global presence, Adidas boasts a workforce of over 59,258 employees worldwide.

Puma SE

Puma, a global leader in sports and lifestyle products, offers a wide range of footwear, apparel, and accessories. With over 19,000 employees in over 120 countries, Puma provides diverse products, including polos, jackets, pants, tracksuits, jerseys, and more for men, women, and kids. The company also collaborates on customized products in its motorsport segment, reinforcing its strong global presence and market adaptability.

Lululemon Athletica Inc.

Lululemon Athletica Inc. is a leading athletic apparel company specialising in yoga, running, and training gear. The company emphasise a healthy lifestyle and creates transformative products and experiences that empower people to enjoy the life they want. The company is listed on NASDAQ under the symbol LULU. It is known for its technical fabrics and functional designs. Lululemon collaborates closely with yogis and athletes in local communities to continually innovate based on research and product feedback.

Under Armour Inc.

Under Armour is a leading company that creates, promotes, and delivers sportswear, footwear, and accessories optimised for athletic performance. Its line of products offers a range of styles and designs that can be worn in any weather condition, catering to athletes of all levels globally. The company mainly manufactures footwear, clothing, and accessories for men, women, and youth. The product range includes various types of shoes such as those suitable for running, training, and basketball, along with athletic performance gloves, bags, headwear, sports masks, and a variety of clothing options, such as jackets, t-shirts, and shorts.

ASICS Corporation

ASICS Corporation is listed on the Tokyo Stock Exchange under the symbol TYO, with a paid-in capital of JPY 23.97 billion. The company had about 8,927 employees in 2023. It has a total of 52 consolidated subsidiaries and affiliates present mainly in America, Europe, Oceania/East SoutSouth Asia, and East Asia. It made a total revenue of JPY 570.46 billion in the annual year 2023.

FILA Holdings Corp.

FILA is one of the leading manufacturers of sportswear. Originating in Biella, Italy in 1911, FILA made its mark with the introduction of colour to tennis attire in 1973. The brand has supported athletes who push boundaries with power and grace. It offers bold and innovative designs that blend aesthetics with functionality. The company, emphasizing innovation and sophistication, continues to create styles that make a statement in both fashion and performance.

Columbia Sportswear Company

Based in Portland, Oregon, Columbia Sportswear Company is a global leader in outdoor apparel, footwear, and accessories. It is renowned for its innovative technologies, with a heritage rooted in the Pacific Northwest, Columbia. Its brands like Sorel and prAna cater to outdoor enthusiasts worldwide. The company has about 10,070 employees.

Li Ning (China) Sports Goods Co., Ltd.

Li Ning Company Limited is a leading sports brand enterprise in China, excelling in brand marketing, R&D, design, manufacturing, distribution, and retail. It offers a variety of footwear, apparel, accessories, and equipment. The company manages an extensive supply chain and retail network, outsourcing manufacturing and using franchised agents. It follows a multi-brand strategy, including its core LI-NING brand, Z-DO via hypermarkets, and collaborations with AIGLE, Double Happiness, Lotto, and Kason for various sports products.

ANTA Sports Products Limited

ANTA Group has grown into China’s largest sportswear conglomerate, specializing in the design, production, marketing, and operation of sportswear, accessories, and equipment. ANTA Sports engages in the design, R&D, manufacturing, marketing, and sales of sports products, including footwear, apparel, and accessories. It has formed three brand groups: Performance Sports, Fashion Sports, and Outdoor Sports, with a portfolio including ANTA, FILA, DESCENTE, KOLON SPORT, and MAIA ACTIVE. As the largest shareholder of Amer Sports, ANTA also oversees brands like Arc'teryx, Salomon, Wilson, Peak Performance, and Atomic.