Research And Markets Estimates U.K. Sportswear Market Grew 5.4% In 2012
Research and Markets estimates that the U.K. sportswear market grew in value by 5.4% in '12, with sports clothing accounting for approximately 71% of total market value and sports footwear making up the remaining 29%. Participation in sports and activities can directly affect the sportswear market, as increased participation leads to a greater demand for functional sportswear and increased popularity of performance-enhancing goods. Despite government efforts to raise the fitness of the nation through national governing body initiatives and interest generated off the back of the 2012 London Games, the latest figures from Sport England actually show a decrease in sports participation for the beginning of '13. In terms of the global market, Nike and adidas are maintaining their presence as market leaders both globally and within the U.K. market. With increased consolidation and closures of sportswear companies in recent years, there are fewer competitors in the U.K. market in terms of both brands and retailers. It is expected that the sports clothing and footwear industry will continue to grow over the next five years. The trend for sportswear as fashion wear, as well as continued public interest in maintaining a sporting lifestyle for the future, are likely to facilitate an increase in sales for the industry (Research and Markets).