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September 2022

Similar to the June survey's findings, about four in ten respondents expect their countries' economies to improve over the next six months, with a similar share expecting conditions to worsen. However, expectations vary by region (Exhibit 2). Respondents in Asia-Pacific and Europe are less likely than in June to say their countries' economies will improve, while respondents in other developing markets have become more hopeful.

Pessimism about the global economy remains consistent with the previous findings, with about half of respondents expecting global conditions to weaken in the next six months. For the third quarter this year, geopolitical instability and conflicts remain the most-cited risk to global economic growth, and inflation remains the second-most-cited threat. In a change from June, volatile energy prices have superseded supply chain disruptions as the third-most-cited risk.
About the authors
The survey content and analysis were developed by Jeffrey Condon, a senior knowledge expert in McKinsey's Atlanta office; Krzysztof Kwiatkowski and Vivien Singer, both capabilities and insights experts at the Waltham Client Capabilities Hub; and , the chair and director of the McKinsey Global Institute and a senior partner in the Amsterdam office.

This update was edited by Heather Hanselman, an editor in the Atlanta office.

June 2022

A new survey finds that inflation now tops the list of perceived economic hazards in respondents' home countries and geopolitical conflicts remain a top threat to the global economy.

Just one quarter after geopolitical conflicts and instability overtook the COVID-19 pandemic as the leading risk to economic growth, survey respondents' concerns over inflation now exceed their worries about the effects of geopolitical issues on their countries' economies. In the latest McKinsey Global Survey on economic conditions, respondents most often cite inflation as a risk over the next year. They are now nearly half as likely as they were in the previous survey to cite geopolitical issues as a risk to their countries' economies. However, geopolitical conflicts and instability remain an outsize concern in Europe, where 50 percent list it among their top risks. But even in Europe, inflation is the risk cited most often-as it is in every geography except Greater China. There, respondents most often point to the COVID-19 pandemic.

Geopolitical instability remains the top-cited threat to the global economy, as it was in the March 2022 survey, and inflation has overtaken volatile energy prices to become the second-most-cited concern. Supply chain disruptions round out the top three global risks, followed by volatile energy prices and rising interest rates.

Overall, pessimism about the second half of 2022 is on par with the early months of the pandemic in 2020, when more than half of respondents predicted that global economic conditions would worsen in the months ahead. In the latest survey, half of all respondents expect global conditions to worsen over the next six months, and 29 percent expect improvement. Respondents' expectations for their home countries are somewhat more hopeful than their outlook on the global economy: 39 percent expect their economies to improve in the near future. However, this is the first survey since the one in September 2020 in which less than half of respondents expect improvements in their home economies. Now, they are just as likely to expect economic conditions will decline as improve.

Most respondents in Asia-Pacific and Greater China expect their economies to improve in the second half of 2022, although overall optimism has declined since the previous survey. Over the same time period, respondents in Europe and North America have become much more pessimistic about the future.

For more detail on the survey's results, please see the exhibits below.

This update was edited by Heather Hanselman, an editor in the Atlanta office.

March 2022

Worries about geopolitical conflicts, among other risks to growth, now exceed executives' concerns about the COVID-19 pandemic. Overall economic optimism continues to decline.

Geopolitical instability is now cited as the top risk to growth in respondents' countries, according to our latest McKinsey Global Survey on economic conditions. Our quarterly survey was launched four days after the invasion of Ukraine, and executives expect that its economic effects will be strongly felt.

At the same time, overall economic sentiment remains more positive than negative but continues to trend downward. For the third quarter in a row, respondents are less likely to believe that economic conditions, either global or domestic, will improve in the months ahead-and the global outlook is especially gloomy.

Forty-three percent of respondents believe the global economy will improve over the next six months, a share that's nearly equal to the 40 percent who feel conditions will worsen. This month's result also marks the first time since July 2020 that less than a majority of respondents feel optimistic about the global economy's prospects.

For more detail on the survey's results, please see the exhibits below.

This update was edited by Daniella Seiler, an executive editor in the New York office.

December 2021

Executive sentiment ends the year on a generally positive note, with most survey respondents expecting 2022 to bring better economic conditions despite heightened risks from the pandemic and inflation.

Respondents to the latest McKinsey Global Survey on the economy end a largely optimistic year with mostly positive expectations for 2022. These relatively upbeat outlooks, both for the global economy and for respondents' countries, come despite a resurgence in concerns about the state of the COVID-19 pandemic: countries across Europe and North America had been reporting rising case numbers since early October, and WHO declared the Omicron variant to be one of concern just days before the survey launched. Respondents-particularly those in Latin America and North America-also see inflation as a pressing economic threat.

A majority of respondents (57 percent) expect both the global economy and their countries' economies to improve in the next six months, though this proportion has declined since the summer. The shares of respondents predicting economic improvements, both globally and domestically, are similar in size to those in the December 2020 survey who expected improvement. Respondents in India, Greater China, and Asia-Pacific are the most optimistic: more than three-quarters in each of those locations predict improvements in their countries. Just 26 percent in Latin America say the same.

Respondents' expectations for their own companies tell a similar story: they are still largely positive even after trending downward since the summer. Sixty-four percent expect customer demand to increase in the next six months, down from 74 percent in the June survey. Nearly two-thirds of respondents expect profits to increase, compared with 74 percent in June and September.

In a change from the October survey, respondents have once again cited the COVID-19 pandemic as a risk to domestic growth more than any other factor, as they have in every other survey since early 2020. In October, before the Omicron variant emerged, supply-chain challenges briefly replaced the pandemic as the top risk. The latest survey also asked executives to choose the likeliest of nine scenarios for the pandemic's economic and health impact, both globally and in respondents' countries. Compared with the October survey, a larger share selected global and domestic scenarios with recurrences of the COVID-19 virus than scenarios with effective control of the virus's spread.

Respondents also commonly express concerns about inflation. Respondents selected inflation as one of the top two most-cited risks to domestic growth, behind the pandemic. Respondents in Latin America were most apt to call inflation a threat to growth, as in October. Inflation has also become the primary concern of those in North America and developing markets. These concerns mark a striking change from one year ago, when geopolitical instability and high levels of national debt loomed as the second-most-cited threats to global and domestic growth, respectively, behind the pandemic.

For more detail on the survey's results, please see the exhibits below.

This update was edited by Heather Hanselman, an associate editor in the Atlanta office.

October 2021

Supply-chain disruptions now outweigh COVID-19 concerns as the biggest risks executives see to domestic and corporate growth.

In a change from the first three quarters in 2021, uncertainty over COVID-19 is no longer a foremost economic concern to executives, according to the latest McKinsey Global Survey. When asked about threats to growth in their countries' economies, executives now cite mounting fallout on the supply chain-which is also the most common risk to company growth-and inflation more often than the pandemic itself. Having endured as the most-cited risk to domestic growth since March 2020, the pandemic is now cited by just one-quarter of respondents: half the share who did so in September 2021.

A larger share of respondents also now anticipate that the virus's effect on public health will be reined in over the coming months. When asked about nine scenarios on the pandemic's GDP effects in their countries, they are much more likely than in the previous survey to select a scenario in which the effective public-health responses contain the virus's impact. This month's most commonly chosen scenario, B1, assumes virus containment as well as ineffective economic intervention. In the previous two surveys, respondents most often ranked the A1 scenario, which envisions recurrences of the virus, as the likeliest one.

By the same token, many respondents expect their companies to emerge from the pandemic more resilient than before. Nearly three-quarters (74 percent) of respondents say their companies are more prepared for future crises now than they were before the pandemic. These reflections come as executives' outlooks for their companies' profits and customer demand continue to be largely positive. For the first time since July 2004, half of respondents expect their organizations' workforces to grow over the next six months.

At the same time that hiring is expected to increase, respondents also anticipate talent shortages. After supply-chain disruptions, labor shortages are the second-most-cited risk to company growth over the next year, and they are the top concern among respondents in North America. These shortages also rank as a top-five risk to economic growth in respondents' own countries.

And while overall expectations for the global economy and respondents' countries remain rosy, respondents' optimism has declined since the summer. Sixty-four percent of respondents expect global conditions to improve over the next six months, down from 71 percent in July and September.

For more detail on the survey's results, please see the exhibits below.

This update was edited by Heather Hanselman, an associate editor in the Atlanta office.

September 2021

Executives' sentiment on economic conditions continues to be positive, even as concerns mount-yet again-over the pandemic's threat to growth.

Eighteen months into the COVID-19 pandemic, executives' responses to our latest McKinsey Global Survey suggest that they believe the economy is on track toward a recovery. Throughout 2021, their views have, on average, been consistently positive. And they continue to report largely positive expectations: 71 percent of respondents predict that conditions in the global economy will improve in the next six months, down from an all-time high of 81 percent who said so last quarter. When asked about their countries' economic prospects, most respondents still expect improvements, but that share has also decreased. Sixty-five percent of respondents now say so, down from a range of 73 to 79 percent who have said so since March 2021.

Yet with the Delta variant affecting so many parts of the world, worries over the pandemic's effects on the economy have also reemerged-just one quarter after a historically low share of respondents cited it as a risk to domestic economic growth. In June, just 36 percent cited the pandemic as a risk to domestic growth over the next year; it was the smallest share to say so since we began asking, in March 2020. Now, 49 percent of respondents say the same, up from 42 percent in July.

The pandemic is followed by supply-chain disruptions and inflation, which were also among the top-three risks to domestic growth in the past two surveys. By region, the pandemic is the top risk in every region except Latin America. Respondents in developed economies also see it as a more prominent threat to growth than those in emerging economies. Fifty-two percent of developed-economy executives see the pandemic as a risk to growth in their own countries-nearly double the share who said so last quarter-compared with 45 percent in emerging economies.

The responses in developed economies suggest other concerns as well. For the first time since January, these executives are less likely than others to expect improving conditions in their home economies.

They are also less upbeat about their companies' prospects. Respondents in developed economies are much less likely than their emerging-economy peers to expect an increase in the size of their companies' workforces in the next six months, an increase in demand for their companies' products and services, and an increase in company profits.

For more detail on the survey's results, please see the exhibits below and our longer article, " Economic conditions outlook, September 2021."

This update was edited by Daniella Seiler, a senior editor in the New York office.

July 2021

Executives' views on the global economy have tempered, but expectations remain largely positive.

Despite more cautious optimism about the world economy, expectations for respondents' home countries remain just as upbeat as in June. Nearly eight in ten respondents (78 percent)-including a majority in each region-expect their countries' economies to improve in the next six months, as was true in the June survey.

Respondents also express declining optimism at the global level when asked about nine scenarios for the pandemic's effects on global GDP. As in June, they most often choose the A1 scenario-in which there are recurrences of the virus and slower near-term growth-although a significantly smaller share of respondents now see it as the most likely scenario. The B2 scenario, involving similar virus recurrence and less-effective economic policy, has become the second most cited, surpassing the virus-containment scenarios A3 and B1 that were more common selections in the June survey. Respondents in the latest survey are also more likely to cite a scenario in which there are high levels of adverse health impact (B3, B4, and B5).

More broadly, respondents continue to see the pandemic, inflation, and supply-chain disruptions as the top three threats to their countries' economic growth, respectively, as was true in June. But since the previous survey, the pandemic has become a larger concern for respondents in developed economies: whereas in June they most commonly said inflation was a top risk, they now cite the pandemic most often. For example, while inflation still outranks COVID-19 among respondents in North America, the share citing the pandemic as a threat has doubled (30 percent, up from 15 percent).

This update was edited by Heather Hanselman, an associate editor in the Atlanta office.

June 2021

Executives' overall views on the economy continue to improve. As more and more economies are recovering from the pandemic, perceptions of potential risks are evolving.

Positive momentum continues to build in many respondents' home countries and in the world economy, according to our latest McKinsey Global Survey on economic conditions. Yet by geography, some differences have emerged. Executives in developed economies report increasingly positive views compared with their emerging-economy counterparts-a reversal from the pandemic's first year-as well as new threats to economic growth.

The COVID-19 pandemic still tops the list of risks to growth in respondents' countries, but the share of executives saying so has declined significantly. Compared with April, respondents in developed economies also consider the pandemic a much less acute concern. Twenty-eight percent of them cite the pandemic as a risk to domestic growth, compared with half of their emerging-economy peers. In the previous survey, 65 percent of respondents in developed economies identified the pandemic as a risk to their countries' growth.

Meanwhile, the shares of respondents citing inflation-the second-most-common risk, identified nearly twice as often as in April-and supply-chain disruptions have increased. Inflation has also risen in the ranks as a risk to growth in the global economy, though on average, responses show that the pandemic remains a much bigger threat to global growth than anything else. At the same time, respondents say supply-chain disruptions pose a greater risk to their companies' growth than in prior surveys.

When asked about overall economic conditions in the months ahead, executives report an increasingly positive outlook. Seventy-nine percent expect conditions in their home countries to improve in the next six months, and a majority of respondents in each region expect improvements. Their global outlook is even more positive, with 81 percent predicting improvements in the months ahead.

Finally, respondents say that their own companies' prospects continue to improve. An increasing share expects that their workforce sizes will grow in the next few months, while 74 percent expect that company profits and demand for their companies' offerings will increase in the next six months. On the demand front, this is the largest share to predict an increase since we began asking the question in April 2009.

For more detail on the survey's results, please see the exhibits below and our longer article, " Economic conditions outlook, June 2021."

This update was edited by Daniella Seiler, a senior editor in the New York office.

April 2021

Though the pandemic overshadows other risks to growth, optimism about the economy persists and company prospects continue to brighten, especially on the hiring front.

In our latest McKinsey Global Survey on the economy, executives' views are as decidedly positive as they were in March -even as the pandemic continues to dwarf other risks to growth. It's an especially acute risk in India, where the week after the survey was in the field, the number of daily COVID-19 cases set a new world record.

Globally, 73 percent of all respondents believe that conditions in the world economy will improve in the next six months. It's the largest share to say so all year, while the share of executives expecting worsening conditions has shrunk by more than half in the past three months: 10 percent say so now, down from 23 percent in January.

When asked about all potential risks to growth that executives foresee, there are some regional differences of note. Respondents in developed economies are more likely than their peers to cite the pandemic (65 percent, versus 55 percent), as well as asset bubbles, high levels of national debt, and supply-chain disruptions. At the same time, concerns over insufficient government support, unemployment, inflation, and weak demand are more top of mind in emerging economies.

On the company front, expectations for consumer demand continue to improve, and those for profits remain buoyant. Workforce expectations are on the rise as well, with 43 percent of respondents saying their companies' head count will increase in the next six months. It's the first time since the pandemic began that a plurality of respondents have said so, in a mostly steady rise since our June 2020 survey.

For more detail on the survey's results, please see the exhibits below and our longer article, " Economic conditions outlook, April 2021."

This update was edited by Daniella Seiler, a senior editor in the New York office.

March 2021

In a new global survey, executives see positive momentum building in the economy. But the pandemic still persists as an outsize risk to growth.

While the global economic outlook has wavered in recent months, respondents are more optimistic now about the world economy's prospects than they've been at any other point during the crisis. Sixty-nine percent believe global economic conditions will improve, up from 56 percent in the previous survey. When asked about their countries' economies, nearly three-quarters of executives expect improved conditions in the next six months, up from 56 percent in January-the highest share to say so since the pandemic began and since we began asking the question in February 2004. In every region but Latin America, where executives are still more optimistic than pessimistic, a majority of respondents expect improvements in the months ahead.

Unemployment concerns also seem to be subsiding, compared with the past few months when pluralities or outright majorities of respondents predicted an increasing unemployment rate at home. Now, 43 percent of respondents expect a decline while 38 percent expect an increase, though there are notable differences by region. A majority of respondents in Europe still anticipate rising unemployment (which was true in the past two surveys), while those in North America are the most likely of their peers to expect a decrease in unemployment: 69 percent say so, while only 16 percent in the region predict an increase.

At the company level, positive expectations are also hitting new highs. Sixty-three percent of executives believe that demand for their companies' products and services will increase in the months ahead, versus 39 percent who said the same one year ago, while 65 percent expect their companies' profits will increase-the largest share to say so in three years. Workforce expectations remain stable, with a plurality of respondents saying their head counts will stay the same as they have throughout the pandemic. Thirty-seven percent, however, expect their workforce size to increase-the largest share to say so since before the pandemic.

Despite the overall optimism, the COVID-19 pandemic still looms largest as a risk to economic growth in respondents' countries. The pandemic is cited most often, followed by unemployment and domestic political conflicts, and is the most common risk in every region but Latin America and India. As in the previous survey, executives in Latin America and in Europe cite unemployment more often than their peers-and this month are followed closely by those in India-although the shares saying so have fallen since January.

For respondents' own companies, weak demand remains the greatest threat to growth, though increasing industry competition has risen in the ranks. Across sectors, respondents in consumer packaged goods and retail are the most likely among their peers to say so: 41 percent cite it as a risk to company growth, versus 28 percent of those in all other industries.

For more detail on the survey's results, please see the exhibits below and our longer article, " Economic conditions outlook, March 2021."

This update was edited by Daniella Seiler, a senior editor in the New York office.

January 2021

Economic expectations remain high but have tempered since December, and executives in Latin America and in Europe are less confident than their peers about the future.

After sounding a note of optimism at the end of 2020, respondents to our newest McKinsey Global Survey are greeting 2021 with high hopes for the economy's prospects. Majorities of executives continue to believe that conditions in their home economies and in the global economy will improve over the next six months. Yet their positivity has moderated since the previous survey; compared with December, smaller shares of respondents now predict that economic conditions will get better.

In Latin America as well as in Europe, respondents are also more concerned than those elsewhere about unemployment. Across regions, they are the most likely executives to expect rising unemployment rates in their home countries (60 percent in Latin America say so now, up from 44 percent in December) and to cite unemployment as a threat to economic growth at home. In fact, respondents in Latin America cite unemployment as the biggest risk to growth-even bigger than the pandemic, which is the most commonly cited risk on average and in every other region.

And while most respondents continue to expect rising demand and profits for their own companies, over the next six months, executives in Europe and Latin America are the least likely to say so. For Latin America, this is a stark contrast with responses from December, when respondents in the region reported well-above-average predictions for both demand and profits.

When asked about nine scenarios for the pandemic's effects on GDP, executives also report more tempered views. They continue to cite A1-characterized by localized occurrences of the virus and partially effective economic responses-as the most likely for their own countries and the global economy. But the shares of respondents ranking any of the three scenarios where the virus's health impact is contained have fallen since December. In the previous survey, 44 percent of respondents said that one of the containment scenarios was most likely for their home economies, and 39 percent said the same for the global economy. This month, only 32 percent and 28 percent, respectively, rank a containment scenario as most likely.

For more detail on the survey's results, please see the exhibits below.

This update was edited by Daniella Seiler, a senior editor in the New York office.

December 2020

Executives' views on the economy continue to brighten as they look ahead to 2021.

Looking ahead to next year, respondents' expectations for their home economies are increasingly positive: 63 percent say economic conditions in their countries will be better six months from now, up from 54 percent who said the same in mid-October. Meanwhile, the global outlook has bounced back. After some peaks and valleys in recent surveys, 61 percent of respondents now predict global conditions will improve in the months ahead. What's more, respondents are the likeliest they've been in the last three years to expect the global economy's growth rate will increase. Sixty-eight percent predict increasing growth now, with only 24 percent predicting a contraction-the smallest share to say so all year.

Interestingly, amid the rising positivity in other results, respondents' views on nine crisis-related economic scenarios are holding fairly steady. As in the previous survey, scenario A1 (characterized by localized recurrences of the virus and partially effective economic-policy responses) is cited most often as the likely scenario for the global economy and for respondents' own economies. That said, the share of executives selecting A1 as the most likely global scenario has declined. One-quarter of all respondents now identify it as most likely, down from the 31 to 36 percent who have said so since our April 2020 survey. After A1, the largest share of respondents cite B1 as the most likely global scenario (20 percent), then B2 (cited by 16 percent). (For more information on each scenario, see " Nine scenarios for the COVID-19 economy.")

With respect to their companies' prospects, executives remain optimistic-and increasingly so. For the first time this year, respondents are more likely to say the size of their workforces will increase than to predict a decrease.

Yet responses to our latest survey also suggest some emerging threats to company growth. While weakening demand and changing customer needs remain the top-two risks (as they have been in the previous four surveys), the share of respondents citing demand concerns is the lowest it has been since March. At the same time, industry competition has risen in the ranks: it's now selected fourth most often, compared with ninth in October. Competition and another industry-wide issue, business-model disruptions within respondents' sectors, together are now cited by 44 percent of respondents, up from 34 percent previously.

For more detail on the survey's results, please see the exhibits below and our longer article, " Economic Conditions Snapshot, December 2020: McKinsey Global Survey results."

This update was edited by Daniella Seiler, an editor in the New York office.

October 2020

Since September, executives have maintained more positive than negative outlooks for the world economy, national economies, and their own companies.

The findings also show changing views about the COVID-19 crisis's effect on domestic and global GDP. When asked which of nine crisis-related scenarios respondents think is likeliest in their countries, they most often select scenario A1, which is characterized by partially effective policy and public-health responses, rather than September's most-cited scenario, B1, which involves virus containment, sector damage, and a lower growth rate over the long term. At the global level, respondents also choose scenario A1 most often, as they have since April. However, scenario B2-marked by virus recurrence and slow long-term growth-has replaced B1 as the second-most-cited scenario for the world economy. (To learn more about the scenarios and how respondents in selected countries rate the likelihood of each one, currently and over time, see " Nine scenarios for the COVID-19 economy.")

As for respondents' expectations for their own companies, the shares reporting positive expectations for profits and demand are the largest since the pandemic was declared. The 55 percent of respondents expecting their companies' profits to increase in the coming months is more than double the share who said so six months ago. A similar share-56 percent-predict that customer demand will increase.

For more detail on the survey's results, please see the exhibits below.

This update was edited by Heather Hanselman, an associate editor in the Atlanta office.

September 2020

Executives are more hopeful about the economy-and their own companies' performance-than they have been since the COVID-19 crisis began.

The share of respondents predicting improvements in the global economy has also grown over the past few months. Now 57 percent say so, compared with 52 percent in June and 25 percent in March. Across regions, emerging-economy respondents report more positive views on the global economy than their peers do: 73 percent expect global conditions to improve in the next six months, compared with 49 percent in developed economies-a much greater gap than previous surveys this year.

Likewise, hopes are increasingly high for respondents' own companies. For the first time in 2020, majorities predict that both demand and profits will increase in the months ahead.

The survey results also suggest shifting views about the COVID-19 pandemic's impact on GDP, at least close to home. When asked which of the nine pandemic-related scenarios is most likely, respondents continue to pick the same scenario for the global economy as they have since the spring: A1, characterized by partially effective policy and public-health responses and a years-long economic recovery. But for respondents' own economies, executives now select a scenario that involves virus containment, sector damage, and a lower growth rate over the long term (B1) most often.

For more detail on the survey's results, please see the exhibits below and our longer article, " Economic Conditions Snapshot, September 2020: McKinsey Global Survey results."

This update was edited by Daniella Seiler, an editor in the New York office.

July 2020

In North America and developing markets, respondents' economic outlook is less favorable than in June. Across regions, views are more uncertain on COVID-19 recovery but more hopeful on company prospects.

Nations around the world are struggling to contain the COVID-19 pandemic and its economic impact, and responses to our latest McKinsey Global Survey on the economy highlight the magnitude of the challenge-especially in certain geographies. In North America and in developing markets, executives have become less hopeful since early June about their countries' economies and more cautious than others in their views on potential scenarios for COVID-19 recovery. Overall expectations on these scenarios also suggest growing caution and uncertainty. Even so, respondents' outlook for their own companies continues to brighten. For the first time in 2020, respondents are more likely to expect their companies' profits to increase than decrease in the months ahead.

On the whole, executives maintain the more positive than negative outlook they reported in June, for both the world economy and their home countries, and they are less likely than in previous months to expect declining growth rates globally and at home. While respondents' outlooks about their countries' economies have improved in most regions over the past four surveys, responses in North America and developing markets have taken a negative turn since June. What's more, when asked about COVID-19's effects on domestic GDP, respondents in North America and developing markets are much less likely than last month to select one of the more optimistic options out of nine scenarios.

Across all geographies, views on the COVID-19 recovery have also become less favorable. In June, the optimistic A3 scenario (in which the virus is contained and growth returns slowly to precrisis levels) and A1 scenario (in which public-health and economic-policy interventions are partially effective, and the return to precrisis levels of GDP, income, and corporate earnings will take time) were selected most often as outcomes for respondents' home economies. Now, the largest share of respondents rank A1 as the likeliest outcome for their own countries in the next year, followed by B2, in which public-health interventions are effective but do not prevent virus reoccurrences, and economic-policy interventions are insufficient to deliver a full recovery to precrisis levels. Similarly, when asked about these scenarios at the global level, respondents most often choose A1, as they have since April, and B2 has replaced the more optimistic A3 as the second most cited scenario for the world economy.

By industry, respondents in automotive and assembly; healthcare services, pharma, and medical products; and travel, transport, and logistics-all sectors hit especially hard by the pandemic's knock-on effects-are much more likely now than in June to expect demand for their companies' products or services to increase in the months ahead. In contrast, respondents in retail, one of the most optimistic segments in the June survey, have become much more downbeat.

For more detail on the survey's results, please see the exhibits below.

This update was edited by Heather Hanselman, an associate editor in the Atlanta office.

June 2020

In our latest survey on the economy, executives' overall outlook for the future continues to improve.

While executives' views on company profits remain more negative than positive, the share expecting increased profitability has grown. Respondents are more likely to expect customer demand will increase than decrease; two months ago, the opposite was true.

By industry, more than half of respondents in retail and in high tech and telecom expect demand to rise. Retail executives also report a much more optimistic view on demand since the April 2020 survey, as do those in capital projects and infrastructure.

When asked about the economy's future, respondents are cautiously but increasingly optimistic. Fifty-one percent say the world economy will be better six months from now, a share that has grown throughout 2020. Similarly, one-half of respondents expect conditions in their home economies to improve; in May, 43 percent said so, up from 36 percent in April and 26 percent in March. Except in Greater China, India, and Latin America-where respondents' outlooks have held steady-executives in every region are more likely than in May to expect improvements.

What's more, the share of respondents expecting global and domestic growth rates to increase in the next six months has grown since April and May.

For more detail on the survey's results, please see the exhibits below and our longer article, " Economic Conditions Snapshot, June 2020: McKinsey Global Survey results."

This update was edited by Daniella Seiler, an editor in the New York office.

May 2020

Economic sentiment has improved since last month, per our latest survey of global executives on COVID-19 and the economy. Still, their near-term outlook remains more negative than positive.

Since early April, a growing number of businesses and governments around the world have begun to reopen, ushering in a new-if tenuous-phase of the coronavirus situation. Likewise, the results from our latest McKinsey Global Survey on the economy (conducted from May 4 to May 8, 2020) point to an improving outlook. Executives are much likelier now than in April or March to expect improving conditions and increased growth rates in the months ahead.

Yet executives are still more negative than positive in their expectations for their home economies and the world economy at large, as they were one month ago. And as the results show, the path to a next normal looks very different across regions and industries. Executives in Greater China were the most optimistic about domestic economic conditions in April and remain so this month: 75 percent expect conditions to improve in the next six months, up from 63 percent previously. Half of that share-just 34 percent-say the same in Europe. But even respondents there are notably more positive about their economies than they were one month ago. Among all regions, respondents in India report the largest shift toward positive sentiment since last month.

At the company level, respondents most often cite weak consumer demand as a threat to their organizations' growth. But other risks loom large in certain sectors. Respondents in financial services, for example, cite volatile financial markets as the biggest threat to company growth. And according to respondents, supply-chain disruptions present an outsize risk in several industries-namely, pharma, chemicals, consumer and packaged goods, and automotive and assembly. What's more, when we asked respondents in industrial and manufacturing sectors about value-chain disruptions resulting from the coronavirus, only 15 percent say COVID-19 has not caused a material disruption to their value chains, and another one-third say the current disruption is the worst their companies have ever experienced.

For more detail on the survey's results, please see the exhibits below.

This update was edited by Daniella Seiler, an editor in the New York office.

April 2020

In our latest survey, global executives report a gloomier outlook than one month ago. Two-thirds expect a sizable contraction in the world economy, and a record share predict declining company profits.

As the COVID-19 pandemic spreads quickly across and within geographies, executives share growing concerns about its economic impact-and, varying by region, dramatic shifts in their views since the beginning of March. Responses to our latest McKinsey Global Survey on the economy, conducted from April 6 to April 10, show that overall sentiment is more negative than it was just one month ago: for example, two-thirds of respondents expect a moderate or significant contraction in the world economy's growth rate-that is, a recession or a depression. In early March, only 42 percent said the same. And 56 percent say the same thing about growth in their home economies, up from 24 percent one month ago.

For more detail on the survey's results, please see the exhibits below.

This update was edited by Daniella Seiler, an editor in the New York office.

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The coronavirus effect on global economic sentiment

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Similar to the June survey's findings, about four in ten respondents expect their countries' economies to improve over the next six months, with a similar share expecting conditions to worsen. However, expectations vary by region (Exhibit 2).

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Singapore's overall inflation rises to 3.2% in October; highest in over 8 years | THE BIG STORY

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https://www.youtube.com/watch?v=GfiDIVOZ_jE

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Unemployment rates for Singapore citizens, residents dip in April 2021

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Singapore's unemployment rate up by 0.2% in July for first time in 10 months

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This likely reflected a dip in demand for manpower in sectors affected by phase two (heightened alert) curbs, said Manpower Minister Tan See Leng. . Read more at straitstimes.com.

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Singapore overall inflation rises to 3.2% in October, highest in more than 8 years

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Core inflation, which better captures the underlying trend in consumer prices, rose to 1.5% last month, highest in nearly three years. . Read more at straitstimes.com.

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MTI Maintains 2021 GDP Growth Forecast at "4.0 to 6.0 Per Cent"

15 February 2021. The Ministry of Trade and Industry (MTI) announced today that the Singapore economy contracted by 5.4 per cent in 2020. For 2021, MTI has maintained the GDP growth forecast at "4.0 to 6.0 per cent".

Economic Performance in Fourth Quarter 2020

The Singapore economy contracted by 2.4 per cent on a year-on-year basis in the fourth quarter, an improvement from the 5.8 per cent contraction in the preceding quarter. On a quarter-on-quarter seasonally-adjusted basis, the economy expanded by 3.8 per cent, following the 9.0 per cent growth recorded in the previous quarter.

Please click here for the full press release.
Economic Survey of Singapore 2020
MINISTRY OF TRADE AND INDUSTRY
15 February 2020

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MTI Maintains 2021 GDP Growth Forecast at “4.0 to 6.0 Per Cent”

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MTI Maintains 2021 GDP Growth Forecast at “4.0 to 6.0 Per Cent”

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1) Gross Domestic Product (GDP)

Based on the Singapore Ministry of Trade and Industry (MTI), the COVID-19 pandemic triggered huge worldwide economic disruptions in 2020, causing Singapore's GDP to collapse by 5.4 percent. During the year, the economy faced both demand- and supply-side shocks, including a drop in external demand for Singapore-produced goods and services due to the global economic slowdown and travel restrictions, supply chain disruptions, and the domestic implementation of the Circuit Breaker (CB) measures from April to June 2020. However, MTI has kept the GDP growth prediction at "4.0 to 6.0 per cent" through 2021.

Adidas' full-year revenues in 2020 fell 16% year on year to 19.8 billion euros (23.6 billion dollars) due to the global outbreak of the coronavirus pandemic, which "seriously damaged" sales. The gross margin shrank by 2.3 percentage points to 49.7%. Other operating expenditures as a proportion of sales increased 4.9 percentage points to 46.5%, owing mostly to higher operational overhead costs as a percentage of sales. The operating margin for the firm fell 7.5 percentage points to 3.8%, indicating a lower gross margin and other operating expenditures as a proportion of sales. The unfavourable impacts of the coronavirus pandemic have a substantial influence on financial outcomes. The company's net income from continuing operations fell by 78% to € 429 million. Caused a large number of temporary shop closures. Both Adidas and their partner-operated in a major traffic drop within the remaining store fleet, resulting in a negative impact on their sales growth. More than 70% of our global retail fleet was shuttered at the height of the worldwide lockdown measures in April.

Support from key sources:

https://www.mti.gov.sg/Newsroom/Press-Releases/2021/02/MTI-Maintains-2021-GDP-Growth-Forecast-at-4_0-to-6_0-Per-Cent

https://www.mti.gov.sg/Resources/feature-articles/2021/Performance-of-the-Singapore-Economy-in-2020

https://report.adidas-group.com/2020/en/group-management-report-our-company/global-sales.html

2) Inflation

Singapore experienced a core inflation of 1.6% in November 2020, the core inflation mainly reflects the increase in services inflation and does not include accommodation and private transport costs. Singapore experienced headline inflation of 3.8% in November 2020, it was the highest it has ever risen since February of 2013. Stronger personal transport inflation and higher core inflation led to the drastic rise.

The average inflation rate for footwear was 2.70% per year. Such a rate indicates significant inflation. Therefore, the same footwear purchased in 1935 for $20 would be equivalent to $197.09 in 2021. Inflation for footwear was lower than the overall inflation rate of 3.53% in the same period.

The virus's rapid spread in 2020 prompted global industry shutdowns, resulting in lower consumer demand and diminished industrial activity while the majority of mankind was on lockdown. Supply chains that were disrupted as a result of the global health crisis are still recovering. Due to a variety of problems, including labor shortages and a lack of critical components and raw materials, producers and distributors of goods are unable to generate or provide as much as they did previous to the epidemic.

Adidas shoes are manufactured primarily from synthetic materials, such as plastic, nylon mesh, and polyurethane foam, which are in short supply due to the Vietnam factory closures from the pandemic. Transport has also become more expensive, with container costs increasing 500% from before the pandemic. Costs incurred rising and raw materials become scarcer, sellers being forced to raise their prices and, ultimately consumers are paying higher prices on all fronts.

Support from key sources:

https://www.channelnewsasia.com/singapore/singapores-core-inflation-16-november-2397811?cid=internal_mcdrecs_02012022_cna#mdcrecs_s

https://fashionunited.uk/news/fashion/sneaker-prices-are-rising-at-the-fastest-rate-of-inflation-in-20-years/2021101458419

https://www.cnbc.com/2021/10/18/supply-chain-chaos-is-hitting-global-growth-and-could-get-worse.html

3) Unemployment

The pandemic has had a significant impact on employment in all service industries. As overall activity declines, labor demand falls dramatically across most sectors of the economy, with employment plummeting at a record pace in 2020 and continuing poor in 2021 in industries that have been delayed due to the coronavirus outbreak. The impact has been notably severe on the retail industries and has been disproportionately worse for low-income earners on sales, and service workers. A rise in retail unemployment shows that it is related to firm closures; nevertheless, government assistance such as the "Job support scheme" helps to prevent the large spike in unemployment.

The pandemic has resulted in a labor shortage in retail companies such as Adidas, Nike, and H&M due to record low unemployment. Jobs are numerous, and retailers will have a more difficult time hiring and retaining good workers. As unemployment falls, shops will find it increasingly difficult to find the number of skilled people they require to fill jobs, and many positions may go unfulfilled. Unemployed workers, on the other hand, have fewer chances of finding work because they must compete with qualified workers. The above demonstrates cyclical unemployment, which is the overall unemployment that derives directly from economic ups and downswings. During recessions, unemployment rises, while during economic expansions, it falls.

According to the Ministry of Manpower, the unemployment situation improved further in April 2021. The progressive decline in unemployment rates indicates that the economy is beginning to recover from the effects of COVID-19. Unemployment rates for residents and citizens fell by 0.1 percentage point to 3.9% and 4.1%, respectively. The overall unemployment rate remained constant (2.9%). This was attributed to the economic crisis caused by the pandemic, which resulted in sector restructuring and an uncertain global economic outlook.

Support from key sources:

https://unece.org/sites/default/files/2021-11/Session_1_Singapore%20paper.pdf

https://stats.mom.gov.sg/iMAS_PdfLibrary/mrsd-Labour-Market-Report-1Q-2021.pdf

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MACROECONOMIC PRELIMINARY ANALYSIS

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1) Product

Adidas is concerned about the environmental impact of the materials they use and advocates for the use of recycled or sustainable materials in all of their products. Adidas commonly uses sustainable material such as recycled polyester and recycled nylon they take several factors into account when they evaluate the sustainability of materials such as elimination of hazardous substances, animal welfare, energy consumption and water consumption.

Recycled Polyester

By 2020, recycled plastic trash will account for more than half of the polyester used in adidas goods. The usage of recycled plastic in goods is part of the company's efforts to reduce plastic waste and prevent marine pollution. There are several advantages to using recycled polyester versus virgin polyester it aids in reducing our demand on non-renewable oil and reduces our carbon footprint. Polyester is the most often used material in adidas goods and utilizing more recycled polyester is one way we are attempting to reduce our environmental impact while still producing high-performance assets for athletes.

Recycled Nylon

Petroleum is used in the production of standard nylon. Recycled nylon is created from post-industrial and post-consumer trash, such as abandoned industrial fishing nets that end up in the ocean. In general, employing recycled nylon has numerous advantages over regular nylon: it reduces our reliance on petroleum and allows us to release less garbage, which contributes to a decrease in hazardous emissions from incinerators that would otherwise be required for waste disposal.

https://www.adidas-group.com/en/media/news-archive/press-releases/2020/adidas-uses-more-than-50-percent-recycled-polyester-in-its-products-in-2020-for-the-first-time/

https://www.adidas-group.com/en/sustainability/products/materials/#/recycled-nylon/

2) Image

The Ultraboost is a high-performance training shoe that may be used for both competition and training. It is designed to provide comfort and responsiveness to the wearer. The shoe was theoretically made for women because Adidas discovered that 50% of all runners are female. And the majority of trainers were created by and for males. Having both male and female influencers wear the shoes, as mentioned before, will draw a lot of attention to the sneaker. Specifically attracting the attention of female consumers to purchase the shoe, as trainers are now utilised for more than one purpose, whether casual or strictly for running. By enlisting the help of influencers (those with a large or small following) on other platforms such as Instagram or TikTok to post a review or a photo. Can draw interest and potentially turn into a trend on any of the social media platforms.

On the side of the shoe are the distinctive 3 stripes, and on the tongue is a cushioned logo. The three stripes are designed in some style on most shoes to let others know they are from Adidas. Apart from the company logo or name, it is the most recognisable component of the design. Above the midsole of the shoe, the word "ULTRABOOST" denotes which design it is. Many consumers who are familiar with Adidas would know which brand it belongs to or can quickly look it up.

3) Service

Adidas uses applications to increase consumer loyalty. The app includes a personalized newsfeed, a chatbot to handle customer concerns, and a full online store. The app's newsfeed, which features things like new product launches and events, will prioritize topics the users already indicated an interest in Adidas. Personalization features will be dependent on inputs such as prior purchases and changes to the user profile, such as the user's birthday or gender. For example, if they previously purchased running shoes, it will expose more running-related material, yet, if the app has identified them as a sneakerhead, it will notify them of the next hot drop.

Adidas works with influencers on an "Affiliate Program" to promote Adidas latest products such as the UltraBoost product line on various social media platforms such as Instagram, Facebook, and YouTube. The influencers will earn a commission each time a visitor clicks via an affiliate link to www.adidas.com and makes a purchase. Adidas' influencer marketing success story is well known, and it encouraged many other small to mid-sized firms to use the power of influencer marketing to boost their brand value.

They work with everyone from singers to actresses to athletes for example popular celebrities such as Selena Gomez, Lionel Messi, Mesut zil, Naomi Campbell, Paul Pogba, Mohamed Salah, Javier Chicharito, and many others. They wanted to convey the message that they are more than just a sporting team. Another motivation for this is to obtain amazing popularity and followers on their social media platforms, which they have done successfully.

4) Competitors (Nike)

Product

Nike uses polyester, rubber, EVA foam, cotton, synthetic leather and leather for their materials. They also develop new materials and processes to generate less waste. The Flyknit technology uses 100% recycled polyester for all the core polyester in Flyknit shoes. Flyleather, launched in 2017, is made from at least 50% recycled leather fibre and Nike Grind, a suite of premium, recycled regenerated materials to reduce waste and deliver performance for the footwear at the same time.

Image

Nike has redefined itself from another typical shoe company to an athletic and fitness lifestyle brand. The Swoosh has become renowned worldwide and is one of the most valuable and successful brands today. As one of the best-represented, culturally understood, and most symbolic companies in the world and history, Nike redefined the power of a brand image. Nike's logo stands for many qualities that people strive for in life: dominance, authenticity, innovation, winning, and performance. Its ability to encapsulate these values in its brand image enables consumers to identify with Nike.

Support from key sources
https://purpose.nike.com/waste

https://conceptdrop.com/blog/27-the-importance-of-branding-how-nike-re-defined-the-power-of-brand-image/

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Monopolistic Competition (Running shoes)
Product differentiation
- Product (technology, recycled, sustainable source....)
- Image - Cool, modern and trendy
- Service- 24/7, online, apps, influencer, sportsperson

Competitors
- product (shoes.....)

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This project has equipped us with the confidence to facilitate research as a team and to discuss effectively. We also were understanding for our team meetings, we made time for each other with despite all our different busy schedules. Everyone's opinion were taken into account and catered to.

I feel that as a team we can improve on our speed of doing our work during meetings and change the way meetings are done. I feel that meetings should just be on discussion and work should be done after discussing.

One interesting thing I learned is that during the increase in the demand for any products, there might be changes in customer tastes and preferences.

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The team is efficient in delegating work and helping one another when there is any issues or discussion needed to improve each other’s work. :D

One area of improvement we can have is recognise any problems and issues that teammates have encountered as quickly as possible to help quicken the process of the project. Or even voicing out opinions about others work and suggestions to improve the overall quality of work.

One interesting fact I found out is that the sportswear industry is more dominant now compared to last time. Where fast fashion/expensive/popular brands was something that people shopped for the most. The view that people have on fashion has changed due to the ever evolving sportswear industry looking for ways to innovate and improve their products for people to use in their daily lives rather than just for workouts.

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After everyone’s views are heard and all the points of agreement and disagreement are identified, our group tried to arrive at an agreement that makes sense to everyone. Our group made all the decisions based on all members’ input.

One problem we came across is after highlighting some issues we got stuck at solutions or possible strategic solutions. This problem was moving our group progress down more than expected, hence our communication could be improved.

One interesting fact about the sports industry is the sports apparel/footwear sold by Adidas, Nike and Puma are similar a minor change in price in Adidas footwear such as hiking prices too much might lead customers to opt for an alternative. These companies spend many of their resources on advertising to make their products stand out.

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Thank you to all of my teammates; it had been a pleasure working with you all. We worked effectively as a team by offering as many ideas as possible and working diligently on our research to improve the flow of our ideas.

One area where we could improve is if we could communicate more in meetings or have more discussions to help our job flow quicker or get more work done in a shorter amount of time.
One area where we could improve is if we could communicate more in meetings or have more discussions to help our job flow quicker or get more work done in a shorter amount of time.

One interesting truth I learned in the business is that knowing how competitive the sportwear sector is and knowing the actual % rate of affordability of Adidas and Nike shoe rage are two interesting facts.

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Consumer desire for a multifunctional wardrobe is set to continue driving the global athleisure wear market, according to data and analytics research group GlobalData.

Over the last two years, the athleisure trend has risen as demand for comfort, performance and style has driven the need for a multifunctional wardrobe. 68 per cent of consumers who purchased sports clothing for exercise also wore such items for eating out or shopping.

The firm forecasts that the global athleisure wear market will rise 9 per cent this year and will continue to outperform the total clothing and footwear market beyond their 2023 forecast period.

"Over the next five years, the sportswear market will be one of the leading retail sectors," said GlobalData principal retail analyst Honor Strachan. "Activewear brands are selling consumers a lifestyle, and fashion retailers are leveraging their style credentials to produce affordable fitness ranges to sell alongside core casual and formalwear collections."

In the UK, 20 per cent of consumers purchased sports clothing specifically for leisure activities and free time, not to exercise in.

"This willingness to pair sportswear with core wardrobe pieces has opened sportswear brands up to new audiences and allowed them to diversify into new product areas," said Strachan, "boosting their share of the global clothing & footwear market."

While fashion trends and influencers have driven the success of the global athleisure wear market , the sustainability movement will continue to support the desire for a multifunctional wardrobe. Consumers are purchasing more consciously and reducing spend on fast fashion, playing into the hands of those retailers and brands that can showcase the versatility of their items, as well as the durability and quality.

Moreover, increasing consumer appetite for comfort has also fuelled sales of activewear and trainers with brands utilising their technical expertise in ensuring products offer freedom of movement, aid temperature and sweat control, shape the body and provide support. These qualities have filtered into consumers' everyday wear and not just when they are at the gym.

Adoption of the athleisure trend in much of Asia has been slower, so international and national brands are leveraging social media, third-party selling platforms and brand ambassadors to sell the appeal of having a sports and street-influenced wardrobe.

"Chinese brand Li-Ning has exploited its credentials as a sports manufacturer to produce high fashion casualwear which can be worn for training or leisure," concluded Strachan, "while Nike's instore and online outfit styling provides inspiration on how to wear pieces for multiple uses encouraging consumers in China, Taiwan, South Korea and Japan to incorporate sportswear into their everyday wardrobes."

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Global athleisure wear market expected to post strong growth this year - Inside Retail

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Consumer desire for a multifunctional wardrobe is set to continue driving the global athleisure wear market, according to data and analytics research group GlobalData. Over the last two years, the athleisure trend has risen as demand for comfort, performance and style has driven the need for a multifunctional wardrobe.

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Pune, India, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Sportswear Market:

According to Fortune Business Insights™, the global sportswear market size is expected to gain momentum by reaching USD 267.61 billion by 2028 from USD 170.94 billion in 2021 while exhibiting a CAGR of 6.6% between 2021 to 2028. The report further explains that the market stood at USD 160.61 billion in 2020.

The rising demand for comfortable yet stylish apparel is driving the sports wearables market growth. During the lockdown, consumption has increased even more. Besides its usage while playing sports and exercising. These comfortable apparel can be worn in and off homes. Demand for joggers, hoodies, and sneakers has increased in large numbers and varieties by adults and kids. Thus, the market is expected to thrive remarkably during the forecast period
Rising Female Participation in Sports Aid Market Growth
Get a Sample PDF Brochure of Sportswear Market Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/sportswear-market-102571 North America to Remain at Forefront Backed by Booming Recreational Industry

Women's sport is ripe for great monetization for active wears companies. As females' involvement in sports such as basketball, football, athletics has increased over the years. Thus this is expected to drive sportswear market growth in upcoming years. For instance, the data issued by the Olympics.Org, in 2018 stated that female participation in the Winter Olympic Games in Pyeongchang, South Korea was 41 percent, which was higher than the previous winter Olympics. Additionally, the rising number of tournaments for female sports, such as ICC Women's World Cup, FIFA Women's World Cup, Women's FIH Hockey World Cup, is expected to escalate the consumption of activewear. Thereby fueling the market growth.
Market Segmentation:
North America is expected to hold the highest global sportswear market share during the forecast period. This is ascribable to the thriving recreational industry in the region. A report by the Bureau of Economic Analysis data mentioned that the U.S. recreational sector revenue accounts for 2.2% of its GDP. Additionally, the number of students inclined towards sport is rising. The data from the National Federation State of High School Association stated that in 2018-2019 around 7,937,491 students were involved in the high school sports program. Thus the rising number of people participating in recreational and sports activities will promote the regional market. North America stood at USD 72.82 billion in 2020.

Asia Pacific is expected to experience significant growth during the forecast period owing to rising investments by the government to promote sports activity in the region. For instance, a report published by Economic Times in February 2020 reported that the Indian government allotted USD 401.6 million in its sports budget. This budget was USD 7.103 more than it's previous year sports budget for the nation.

By the product type, the market for sportswear is divided into footwear, apparel, and wearable.
Inquire Before Buying https://www.fortunebusinessinsights.com/enquiry/queries/sportswear-market-102571 Key Players to Focus on Acquisitions to Strengthen Their Positions Sportswear Market Research Report: Part 2: Sports Footwear Market
Based on product type, the footwear segment held a market share of 33.27% in 2020. This is attributable to increased sports activities worldwide and growing awareness about various fitness programs

On the basis of end-users, the market is segmented into men, women, and children. By distribution, the market is divided into eCommerce, store, and retail stores. Finally, based on region, the market for sportswear is categorized into North America, Europe, Asia-Pacific, and South America.
Report Coverage
The market for sportswear is consolidated by major companies striving to maintain their positions by focusing on facility expansion and acquisitions. For instance, in August 2019, Nike acquired a Boston-based Company named Celect, which is an AI-based predictive analytics firm. This acquisition will help Nike bring higher levels of personalization to its products through informed decisions and personalized requirements of its consumers to generate more sales and stay relevant in the sports and activewear industry. Moreover, other key players are adopting proactive strategies such as new partnerships, mergers, and collaborations to favor the market's growth in the upcoming years.
Competitive Landscape Key Players Focus on Introducing Innovative Products to Intensify Competition
The global sports footwear market size is set to gain momentum from the increasing usage of environment-friendly materials for manufacturing. As per research report the market stood at USD 93.57 billion in 2020. It is projected to grow from USD 97.42 billion in 2021 to USD 134.99 billion in 2028 at a CAGR of 4.8% during the forecast period.
Get a Sample PDF Brochure on https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/sports-footwear-market-102216 Below are the two significant industry developments:

March 2020: Adidas introduced its 'Faster Than' campaign and developed a new line of shoes that would help runners achieve their goals. The new SL20 design is lightweight and features a unique Lightstrike midsole.

February 2019: Xiaomi unveiled its latest Mi Men's Sports Shoes 2 in India. They are available online for Rs 2,999 in blue, dark grey, and black colors. These are best suited for jogging, walking, and running.

Men Segment Held more than 50% Share in 2020: Fortune Business Insights™ Sports Footwear Market Increasing Participation in Sports and Adventurous Activities to Help North America Growth
Inquire Before Buying https://www.fortunebusinessinsights.com/enquiry/queries/sports-footwear-market-102216 About Us: Sports Footwear Market Contact Us: Research Report: Report:
The demand for sustainable sports shoes is surging rapidly because of pollution concerns. In May 2021, for instance, Allbirds joined hands with Adidas to launch a new sneaker for the latter's Futurecraft range. It is made out of eco-friendly materials and would generate very less carbon emissions.

The report involved four notable activities in projecting the current size of the sports shoes industry. Exhaustive secondary research was conducted to gather data about the parent market. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down approaches to calculate the market size.

The global market contains a large number of companies that are constantly striving to compete with their rivals. To do so, they are majorly participating in new product launches to attract more customers.
Phone:
Based on gender, the market is trifurcated into kids, women, and men. Amongst these, the men segment generated more than 50% in terms of the sports footwear market share in 2020. This growth is attributable to the increasing participation of men, as compared to the other two genders. The U.S. Bureau of Labour Statistics mentioned that men spent around 5.7 hours in sports activities in the country in 2018. But, the count was around 4.9 hours for women.

Geographically, North America procured USD 38.99 billion in 2020 in terms of revenue. This growth is attributable to the increasing participation of people residing in the region in multiple adventures and sports activities. In January 2020, for instance, the Outdoor Industry Association stated that approximately 50.5% of people participated in outdoor activities in 2018. On the other hand, Asia Pacific is estimated to be the fastest-growing region in the upcoming years because of the high consumer expenditure in sports type of footwear.

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Sportswear Market Share 2021 | Sports Footwear Market Value & Global Demand till 2028

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Pune, India, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Sportswear Market: According to Fortune Business Insights™, the global sportswear market size is expected to gain momentum by reaching USD 267.61 billion by 2028 from USD 170.94 billion in 2021 while exhibiting a CAGR of 6.6% between 2021 to 2028.

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Sports Apparel Market Outlook - 2026

The sports apparel market was valued at $167.7 billion in 2018 and is estimated to reach $248.1 billion by 2026, registering a CAGR of 5.1% from 2019 to 2026. In 2018, the men end user segment accounted for more than half of the share in the total sports apparel market, and is expected to grow at a CAGR of 4.6% throughout the forecast period. Sports apparel are clothes worn during strenuous physical activities such as during workout sessions or while playing sports. They are designed in a way that provides comfort and agility while performing physical movements. Sports apparel are made using breathable material that allows sweat to evaporate faster, helping the person wearing it remain fresh for longer. Polyester, microfiber, calico, and spandex are some of the most commonly used fabrics in the production of these clothing. Initially, the sports apparel was mostly worn by athletes but, with time, it became quite common with regular gym-goers and other non-athletes. The adoption of sports apparel has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly.

Sports apparel has been gaining traction in emerging market, owing to rise in the affluent population. Furthermore, growth in health awareness and increase in adoption of fitness activities such as aerobics, swimming, running, and yoga among consumers drive the market growth. Moreover, rise in participation of women in sports and fitness activities fuels the sports apparel market growth. In addition, aggressive advertisements and celebrity endorsement has also helped the sports apparel industry to pave its way toward growth. However, fluctuating prices of raw materials used in making such clothing and easy availability of counterfeit products act as the major restraint for this market. On the contrary, growth in demand for trendy and fashionable sports apparel and increase in popularity of sports apparel among children are anticipated to provide growth opportunities for the sports apparel market.

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The sports apparel market has been segmented based on end user, distribution channel, and region. On the basis of end user, the market is divided into children, men, and women. Based on distribution channel, it is segmented into E-commerce, supermarket/hypermarket, brand outlets, and discount stores. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

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Based on the sports apparel market analysis, the men segment generated the maximum revenue in 2018 and is expected to continue this trend throughout the forecast. This can be attributed to higher participation of men in sports. However, the women end user segment is expected to grow at the highest CAGR throughout the forecast period, owing to growing participation of women in sports.

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Based on the sports apparel market forecast, the discount store was the most prominent segment accounting for the highest share in the sports apparel market. This can be attributed to options such as discounts and trial before purchase as well as the benefit of immediate gratification. However, the e-commerce segment is expected to witness the highest growth, owing to increase in penetration of internet and increased use of smartphones for online shopping as it allows the consumer to compare products in real time and make informed decisions.

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By region, U.S. is the most prominent regional market. This can be attributed to the highly evolved retail structure and higher adoption of sports apparel due to aggressive advertising and celebrity brand endorsement. Moreover, higher expenditure of the consumers on fitness apparel due to it being considered a style statement also adds to the popularity of sports apparel in this region. However, China is expected to grow with the highest CAGR throughout the forecast period, owing to rapidly improving retail infrastructure and increasing disposable income of consumers in this region.

The players in the sports apparel market have adopted acquisition as their key development strategy to increase profitability, and to improve stance in the sports apparel market share. The key players have also relied on product launch to improve their product portfolio and stay relevant in the global market. The key players profiled in the report include Adidas AG, Nike, Inc., Puma SE, Under Armour, Inc., Ralph Lauren Corporation, Umbro Ltd., Fila, Inc, Lululemon Athletica Incorporation, New Balance Athletic Shoe, Inc., and Columbia Sportswear Company.

Key Benefits for Sports Apparel Market:

The report provides a quantitative analysis of the current sports apparel market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing opportunities.

Porter's five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis and the sports apparel market size and segmentation assists in determining the prevailing sports apparel market opportunities.

The major countries in each region are mapped according to their revenue contribution to the global sports apparel market.

The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.

Key Market Segments

Adidas AG (Adidas)

Columbia Sportswear Company

FILA Inc.

New Balance

Nike, Inc. (Nike)

Lululemon Athletica Inc.

PUMA SE

Ralph Lauren Corporation

Under Armour, Inc

Umbro

1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology

5.2.1. Key market trends, growth factors and opportunities 5.2.2. Market size and forecast, by region

5.2.3. Market analysis by country

5.3. Supermarket/hypermarket

6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by end user
6.3.3. Market size and forecast, by distribution channel
6.3.4. Market size and forecast, by distribution channel
6.3.5. Germany

6.4.9. Rest of Asia-Pacific

6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by end user
6.5.3. Market size and forecast, by distribution channel
6.5.4. Market size and forecast, by distribution channel
6.5.5. Brazil

7.1.1. Company overview
7.1.2. Key Executive
7.1.3. Company snapshot
7.1.4. Operating business segments
7.1.5. Product portfolio
7.1.6. R&D Expenditure
7.1.7. Business performance
7.1.8. Key strategic moves and developments

7.2. Columbia Sportswear Company

7.4.1. Company overview
7.4.2. Key Executive
7.4.3. Company snapshot
7.4.4. Product portfolio

7.5.1. Company overview
7.5.2. Key Executive
7.5.3. Company snapshot
7.5.4. Operating business segments
7.5.5. Product portfolio
7.5.6. Business performance
7.5.7. Key strategic moves and developments

7.6. Lululemon Athletica Inc.

7.7.1. Company overview
7.7.2. Key Executive
7.7.3. Company snapshot
7.7.4. Operating business segments
7.7.5. Product portfolio
7.7.6. Business performance
7.7.7. Key strategic moves and developments

7.8. Ralph Lauren Corporation

TABLE 01. SPORTS APPAREL MARKET, BY END USER, 2018-2026 ($MILLION)
TABLE 02. SPORTS APPAREL MARKET REVENUE FOR CHILDREN, BY REGION 2018-2026 ($MILLION)
TABLE 03. SPORTS APPAREL MARKET REVENUE FOR MEN, BY REGION 2018-2026($MILLION)
TABLE 04. SPORTS APPAREL MARKET REVENUE FOR WOMEN, BY REGION 2018-2026($MILLION)
TABLE 05. SPORTS APPAREL MARKET, BY DISTRIBUTION CHANNEL, 2018-2026 ($MILLION)
TABLE 06. SPORTS APPAREL MARKET REVENUE FOR E-COMMERCE, BY REGION 2018-2026 ($MILLION)
TABLE 07. SPORTS APPAREL MARKET REVENUE FOR SUPERMARKET/HYPERMARKET, BY REGION 2018-2026($MILLION)
TABLE 08. SPORTS APPAREL MARKET REVENUE FOR BRAND OUTLETS, BY REGION 2018-2026($MILLION)
TABLE 09. SPORTS APPAREL MARKET REVENUE FOR DISCOUNT STORES, BY REGION 2018-2026($MILLION)
TABLE 10. SPORTS APPAREL MARKET REVENUE, BY REGION 2018-2026($MILLION)
TABLE 11. NORTH AMERICA SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 12. NORTH AMERICA SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 13. NORTH AMERICA SPORTS APPAREL MARKET REVENUE, BY COUNTRY 2018-2026($MILLION)
TABLE 14. U.S. SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 15. U.S. SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 16. CANADA SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 17. CANADA SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 18. MEXICO SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 19. MEXICO SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 20. EUROPE SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 21. EUROPE SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 22. EUROPE SPORTS APPAREL MARKET REVENUE, BY COUNTRY 2018-2026($MILLION)
TABLE 23. GERMANY SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 24. GERMANY SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 25. FRANCE SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 26. FRANCE SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 27. UK SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 28. UK SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 29. ITALY SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 30. ITALY SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 31. SPAIN SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 32. SPAIN SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 33. REST OF EUROPE SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 34. REST OF EUROPE SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 35. ASIA-PACIFIC SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 36. ASIA-PACIFIC SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 37. ASIA-PACIFIC SPORTS APPAREL MARKET REVENUE, BY COUNTRY 2018-2026($MILLION)
TABLE 38. CHINA SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 39. CHINA SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 40. INDIA SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 41. INDIA SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 42. JAPAN SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 43. JAPAN SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 44. AUSTRALIA SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 45. AUSTRALIA SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 46. REST OF ASIA-PACIFIC SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 47. REST OF ASIA-PACIFIC SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 48. LAMEA SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 49. LAMEA SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 50. LAMEA SPORTS APPAREL MARKET REVENUE, BY COUNTRY 2018-2026($MILLION)
TABLE 51. BRAZIL SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 52. BRAZIL SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 53. SOUTH AFRICA SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 54. SOUTH AFRICA SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 55. UAE SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 56. UAE SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 57. REST OF LAMEA SPORTS APPAREL MARKET REVENUE, BY END USER 2018-2026($MILLION)
TABLE 58. REST OF LAMEA SPORTS APPAREL MARKET REVENUE, BY DISTRIBUTION CHANNEL 2018-2026($MILLION)
TABLE 59. ADIDAS AG: KEY EXECUTIVES
TABLE 60. ADIDAS AG: COMPANY SNAPSHOT
TABLE 61. ADIDAS AG: OPERATING SEGMENTS
TABLE 62. ADIDAS AG: PRODUCT PORTFOLIO
TABLE 63. ADIDAS AG: R&D EXPENDITURE, 2016-2018 ($MILLION)
TABLE 64. ADIDAS AG: NET SALES, 2016-2018 ($MILLION)
TABLE 65. COLUMBIA SPORTSWEAR COMPANY : KEY EXECUTIVES
TABLE 66. COLUMBIA SPORTSWEAR COMPANY : COMPANY SNAPSHOT
TABLE 67. COLUMBIA SPORTSWEAR COMPANY : PRODUCT PORTFOLIO
TABLE 68. COLUMBIA SPORTSWEAR COMPANY : NET SALES, 2016-2018 ($MILLION)
TABLE 69. FILA INC.: KEY EXECUTIVES
TABLE 70. FILA INC.: COMPANY SNAPSHOT
TABLE 71. FILA INC.: PRODUCT PORTFOLIO
TABLE 72. FILA INC.: NET SALES, 2016-2018 ($MILLION)
TABLE 73. NEW BALANCE: KEY EXECUTIVES
TABLE 74. NEW BALANCE: COMPANY SNAPSHOT
TABLE 75. NEW BALANCE: PRODUCT PORTFOLIO
TABLE 76. NIKE, INC.: KEY EXECUTIVES
TABLE 77. NIKE, INC.: COMPANY SNAPSHOT
TABLE 78. NIKE, INC.: OPERATING SEGMENTS
TABLE 79. NIKE, INC.: PRODUCT PORTFOLIO
TABLE 80. NIKE, INC.: NET SALES, 2017-2019 ($MILLION)
TABLE 81. LULULEMON ATHLETICA INC.: KEY EXECUTIVES
TABLE 82. LULULEMON ATHLETICA INC.: COMPANY SNAPSHOT
TABLE 83. LULULEMON ATHLETICA INC.: OPERATING SEGMENTS
TABLE 84. LULULEMON ATHLETICA INC.: PRODUCT PORTFOLIO
TABLE 85. LULULEMON ATHLETICA INC.: NET SALES, 2016-2018 ($MILLION)
TABLE 86. PUMA SE: KEY EXECUTIVES
TABLE 87. PUMA SE: COMPANY SNAPSHOT
TABLE 88. PUMA SE: OPERATING SEGMENTS
TABLE 89. PUMA SE: PRODUCT PORTFOLIO
TABLE 90. PUMA SE: NET SALES, 2016-2018 ($MILLION)
TABLE 91. RALPH LAUREN CORPORATION: KEY EXECUTIVES
TABLE 92. RALPH LAUREN CORPORATION: COMPANY SNAPSHOT
TABLE 93. RALPH LAUREN CORPORATION: OPERATING SEGMENTS
TABLE 94. RALPH LAUREN CORPORATION: PRODUCT PORTFOLIO
TABLE 95. RALPH LAUREN CORPORATION: NET SALES, 2016-2018 ($MILLION)
TABLE 96. UNDER ARMOUR, INC.: KEY EXECUTIVES
TABLE 97. UNDER ARMOUR, INC.: COMPANY SNAPSHOT
TABLE 98. UNDER ARMOUR, INC.: PRODUCT PORTFOLIO
TABLE 99. UNDER ARMOUR: NET SALES, 2016-2018 ($MILLION)
TABLE 100. ICONIX BRAND GROUP: KEY EXECUTIVES
TABLE 101. ICONIX BRAND GROUP: COMPANY SNAPSHOT
TABLE 102. ICONIX BRAND GROUP: OPERATING SEGMENTS
TABLE 103. ICONIX BRAND GROUP: PRODUCT PORTFOLIO
TABLE 104. ICONIX BRAND GROUP: NET SALES, 2016-2018 ($MILLION)

FIGURE 01. KEY MARKET SEGMENTS
FIGURE 02. EXECUTIVE SUMMARY
FIGURE 03. TOP IMPACTING FACTORS
FIGURE 04. TOP INVESTMENT POCKETS
FIGURE 05. TOP INVESTMENT POCKETS
FIGURE 06. VALUE CHAIN ANALYSIS
FIGURE 07. SPORTS APPAREL MARKET, BY END USER, 2018-2026
FIGURE 08. COMPARATIVE SHARE ANALYSIS OF SPORTS APPAREL MARKET FOR CHILDREN, BY COUNTRY, 2018 & 2026 (%)
FIGURE 09. COMPARATIVE SHARE ANALYSIS OF SPORTS APPAREL MARKET FOR MEN, BY COUNTRY, 2018 & 2026 (%)
FIGURE 10. COMPARATIVE SHARE ANALYSIS OF SPORTS APPAREL MARKET FOR WOMEN, BY COUNTRY, 2018 & 2026 (%)
FIGURE 11. SPORTS APPAREL MARKET, BY DISTRIBUTION CHANNEL, 2018-2026
FIGURE 12. COMPARATIVE SHARE ANALYSIS OF SPORTS APPAREL MARKET FOR CHILDREN, BY COUNTRY, 2018 & 2026 (%)
FIGURE 13. COMPARATIVE SHARE ANALYSIS OF SPORTS APPAREL MARKET FOR SUPERMARKET/ HYPERMARKET, BY COUNTRY, 2018 & 2026 (%)
FIGURE 14. COMPARATIVE SHARE ANALYSIS OF SPORTS APPAREL MARKET FOR BRAND OUTLETS, BY COUNTRY, 2018 & 2026 (%)
FIGURE 15. COMPARATIVE SHARE ANALYSIS OF SPORTS APPAREL MARKET FOR DISCOUNT STORES, BY COUNTRY, 2018 & 2026 (%)
FIGURE 16. SPORTS APPAREL MARKET, BY COUNTRY, 2018 & 2026 (%)
FIGURE 17. U.S. SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 18. CANADA SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 19. MEXICO SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 20. GERMANY SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 21. FRANCE SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 22. UK SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 23. ITALY SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 24. SPAIN SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 25. REST OF EUROPE SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 26. CHINA SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 27. INDIA SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 28. JAPAN SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 29. AUSTRALIA SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 30. REST OF ASIA-PACIFIC SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 31. BRAZIL SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 32. SOUTH AFRICA SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 33. UAE SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 34. REST OF LAMEA SPORTS APPAREL MARKET 2018 & 2026 ($MILLION)
FIGURE 35. ADIDAS AG: R&D EXPENDITURE, 2016-2018 ($MILLION)
FIGURE 36. ADIDAS AG: NET SALES, 2016-2018 ($MILLION)
FIGURE 37. ADIDAS AG: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 38. ADIDAS AG: REVENUE SHARE BY PRODUCT CATEGORY, 2018 (%)
FIGURE 39. COLUMBIA SPORTSWEAR COMPANY : NET SALES, 2016-2018 ($MILLION)
FIGURE 40. COLUMBIA SPORTSWEAR COMPANY : REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 41. COLUMBIA SPORTSWEAR COMPANY : REVENUE SHARE BY PRODUCT CATEGORY, 2018 (%)
FIGURE 42. FILA INC.: NET SALES, 2016-2018 ($MILLION)
FIGURE 43. NIKE, INC.: NET SALES, 2017-2019 ($MILLION)
FIGURE 44. NIKE, INC.: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 45. NIKE, INC.: REVENUE SHARE BY PRODUCT TYPE, 2019 (%)
FIGURE 46. LULULEMON ATHLETICA INC.: NET SALES, 2016-2018 ($MILLION)
FIGURE 47. LULULEMON ATHLETICA INC.: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 48. LULULEMON ATHLETICA INC.: REVENUE SHARE BY REGION, 2018 (%)
FIGURE 49. PUMA SE: NET SALES, 2016-2018 ($MILLION)
FIGURE 50. PUMA SE: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 51. PUMA SE: REVENUE SHARE BY REGION, 2018 (%)
FIGURE 52. RALPH LAUREN CORPORATION: NET SALES, 2016-2018 ($MILLION)
FIGURE 53. RALPH LAUREN CORPORATION: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 54. UNDER ARMOUR: NET SALES, 2016-2018 ($MILLION)
FIGURE 55. UNDER ARMOUR: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 56. ICONIX BRAND GROUP: NET SALES, 2016-2018 ($MILLION)
FIGURE 57. ICONIX BRAND GROUP: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 58. ICONIX BRAND GROUP: REVENUE SHARE BY REGION, 2018 (%)

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Sports Apparel Market Size, Share and Trends | Industry Report, 2026

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Request Now ! The sports apparel market was valued at $167.7 billion in 2018 and is estimated to reach $248.1 billion by 2026, registering a CAGR of 5.1% from 2019 to 2026. In 2018, the men end user segment accounted for more than half of the share in the total sports apparel market, and is expected to grow at a CAGR of 4.6% throughout the forecast period.

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The sportswear market is the most demanding market, and it is not going to wane at any cost. As the peoples are more conscious about their health and wellness and the trend will continue to grow with each passing year. Also, the government is aiding the initiative to promote healthy lifestyles. Singapore's pro-activeness in every domain of the market makes it a capital centre in the South East Asia zone, which is highly and easily adaptable to the changes. Globally, the sportswear industry market is expected to reach $184.6 billion by 2020. Singapore's total revenue in the sportswear market amount to the US$70 million in 2018 and the market is expected to grow 1.6% annually (CAGR 2018-2021).

Sportswear industry has witnessed a significant growth over the period of the time due to increasing health awareness and fitness activities, such as aerobics, swimming, running, and yoga, etc. And mainly this is because of the participation of women in sports and fitness activities are increasing. In the global sportswear industry based on geographical location, the largest revenue-generating region was North America and it is expected that by 2020 the Asia-Pacific would be the leading revenue-generating region. Singapore's sportswear industry is the growing segment of the apparel industry owing to increasing disposable income and improving the living standards of the country.

Athleisure: The Hottest Trend in the Sportswear Industry:

Athleisure, in simple words "athletic" and "leisure", refers more than just a gym wear that one can wear all day, includes sneakers, outerwear, and even men's dress shirts and blazers, etc. The value growth of the sportswear observed a strong market trend in 2017 supported by the general improvement in the economy than the previous year. Customers are now more attracted towards the comfort, style and practicality of sports apparel and footwear, with athleisure remaining the hottest trend. The sportswear industry market has restricted the growth of low quality and counterfeit products availability. The sportswear is worn during physical movements, workout sessions or while playing sports is designed in a style that it provides comfort and agility.

Health and wellness are on the continuous expansion in Singapore with lots of international brands entering the market of the country, such as Virgin Active, F45, Lululemon, Nike, Adidas, Under Armour Inc, etc. Presence of such vibrant wellness brand in Singapore, the growth opportunities for entrepreneurs has been palpable. According to the Singaporean government's statistics, the overall demand for gym visiting has on the rise in 2015 from 1.8m to 2.5m in the five years.

Consumer's rising interest in Physical Activities:

Singapore's Health Promotion Board designed physical activity programs to generate awareness in Singaporeans, such as National Steps Challenge, Lose to Win and Sundays @The Park to make them more active. More programs initiated by Singapore Health Promotion Board are Active Living, Healthy Eating, Mental Wellbeing, Chronic Disease Management, Capacity Building and healthy eating behaviour with changes in physical activity levels. In addition to that to stay fit and healthy participation in local marathons and cycling has become more popular and people are actively accepting the change.

Now people are more aware of their health and actively associating with the physical activities. The raising consciousness of their health in women is the major reason that the sector is highly boosting. Earlier only men are the active participators and more conscious for their health. With the population of 5.8 million in Singapore, the companies are shifting in the market from the US, UK and Australia and from other regions of Asia too. F45, the Australian fitness franchise entered the market and opened its first studio in 2016, whereas, Virgin Active has launched in 2013 and successfully running its two clubs.

The Mode of Sale in the Sportswear Industry:

Mode of sale is based on the two market segment which is retail stores and online stores specifically, other than these two, supermarkets, brand outlets and discount stores are other modes. The ruling mode of sale is retail stores, the most common channel of sale for market players. The boost in the sports apparel market is due to the favourable demographics and rising inclination towards trendy sportswear. Many of the companies are trying to enter the region of Asia because of the rise in the disposable personal income of the consumers. Singapore is one of the highly emerging countries and a significant hub for the adoption of the latest trend. Currently, selling through retail stores are the dominating mode of sale in the market. But with the fastest changing technological era the mode of sale is also shifting from retail stores to the online stores.

Online mode of sale has witnessed a dynamic growth in the past few years as the penetration of internet and increased popularity and the influential part is the availability of a wide range of products at a discounted price. Consumers in Singapore are more brands conscious and prefer quality goods rather than going with an average product plus trend is all that they required. Through the online mode, they get any deal very quickly with lots of designs availability at a single click, also if they do not like any product they can easily switch from one store to another one.

Competitive Landscape for the Brands in Singapore in the Sportswear Industry:

The penetration of the brands in Singapore has far higher barriers to entry, proferring leading brands an edge over lower-quality competitors. Sportswear and shoes usually high-performance products and required an extensive market research and development that makes difficult for the other brands to knockout that particular brand from the race. Innovative campaigns running through the brands are making those brands an extraordinary one from others. This is what Skechers imply in 2017 and seen a huge increase in its value share and also the brand's range of sports footwear becomes increasingly popular among others.

With the increasing awareness of the importance of health and fitness, the sports apparel is in the rapid demand. Globally recognised brands listed in the race to cover the sports apparel market of Singapore. New Balance, the American sportswear brand, possesses eleven stores in the country, since 2014, after the launch Lululemon owned three stores. Lorna Jane, Australian activewear brand initiated a store in the island whereas Triple Pte, exclusive distribution rights for Under Armour in Asia has also penetrated in the country and running five stores across the city.

Nike and Adidas the dominating leader worldwide has seen an increase in their value shares in 2017, also both are enjoying strong brand awareness and loyalty as well as widespread distribution. Both the dominating players of the market are strongly investing in the development of the innovative products. Puma, Lululemon and Skechers are following the trend of the leading leaders in the industry, such as Nike and Adidas. The competition among all the top brands going to be a cutthroat since each of the company is trying to one-up everyone else.
For customised market research reports for any kind of startups and business in any industry, you can contact Craft Driven Market Research team here directly.
Tags: Athleisure, Craft Driven, Singapore, Singapore Health Promotion Board, Singapore Market Research, Sports Apparel, Sportswear Industry

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Rising Demand for Sportswear Industry in Singapore

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The sportswear market is the most demanding market, and it is not going to wane at any cost. As the peoples are more conscious about their health and wellness and the trend will continue to grow with each passing year. Also, the government is aiding the initiative to promote healthy lifestyles.

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F Brand co-founders Jack Ou (left) and Fermelle Ho (right) with model John Wang and two mannequins modeling activewear from F Brand. ST PHOTO: ONG WEE JIN

Before the pandemic, consultant Merlyn Kang considered herself lucky if she could fit in two workouts a week.

Now with more time at home, the 26-year-old finds herself attending fitness classes almost five times a week. And with the increased frequency, she has had to buy more workout gear too.

Since Covid-19 started, she has been shopping from brands such as Lululemon and Nike up to three times a month, picking up leggings, sports bras and tops.

"Most of my clothing purchases during Covid-19 are activewear, compared with before, when it might have been workwear mostly," she says.

The pandemic may have brought much of the fashion retail industry to its knees, but one sector has seen unparalleled growth: activewear. With many turning to exercise - either to stave off boredom or stay healthy - in a global crisis, the need for stylish workout wear has accelerated a boom in the sector, which had already been on the rise in recent years.

A study from the iPrice Group conducted between January and June found that Google search interest in South-east Asia for sportswear brands Nike and Adidas soared by 605 per cent and 577 per cent respectively, compared with before the pandemic.

In Singapore, global sports brands reported similar demand.

Mr Nils Swolkien, managing director of Decathlon Singapore, says the company saw a "modest year-to-date growth in revenue of 3.9 per cent as compared to 2019", with a "strong surge in sports like cycling and fitness" this year.

And while equipment sales are "exponentially higher than the sale of our apparel", Decathlon's house brand of activewear has been selling well, he adds.

"Fitness and jogging apparel is in our top-selling list, and our yoga and jogging apparel for women has also been exceptionally popular among Singaporeans."

The brand opened a duplex Experience store at The Centrepoint and a Click & Collect store in Tiong Bahru Plaza this year. Mr Swolkien adds: "We can say the business is stronger for us now than it was previously."

Physical retail at Under Armour suffered during the pandemic, but was saved by e-commerce, says marketing director of Under Armour South-east Asia, Ms Yvonne Tey. The US sports brand opened a store in Parkway Parade last month and opens its refreshed Orchard Central flagship store today.

Ms Tey says: "Sales via our e-commerce platforms increased as consumers' mindset and consumption patterns shifted during the pandemic, with more seeking digital-led, at-home and low-touch experiences. Overall, while it has been difficult, we have also seen growth."

The booming interest in working out has not gone unnoticed here. Two home-grown apparel brands are capitalising on the demand and have launched gymwear lines.

For the first time in its 45-year history, B2B (business to business) uniforms brand JML Uniforms has debuted a gymwear label selling direct to consumers. Called F Brand, the co-ed label launched online (fbrand.com.sg) last month with a range of activewear basics.

The company cut its teeth supplying fashion apparel to department stores such as Isetan and nowdefunct chains Oriental Emporium and Yaohan. It switched to making uniforms in the 1990s.

When business slowed because of Covid-19, the company's director Jack Ou decided to try B2C (business to consumer), after consulting with the SME Centre at Enterprise Singapore. The 37-year-old says it was not a blind leap of faith because the company has built up a network of apparel contacts over the years.

Gymwear was top of mind because Mr Ou was inspired after reading news of people crowding parks to exercise. Seeing a manufacturing partner in China switch to specialising in gymwear in 2015 gave him added confidence.

However, his mother, Madam Ng Gim Kwee, 67, who started the company with Mr Ou's fifth uncle, needed some convincing.

"To her, it wasn't feasible because we were too used to doing B2B business. We manufacture what people order, and not manufacture to wait for orders," he says.

F Brand's women's range is priced from $23.80 for a singlet to $103.80 for quick-dry pants, while the men's line goes from $28.80 for tees to $58.80 for runner pants. Since its launch, it has received just under 100 orders.

With no physical stores, it has been hard getting word out as customers cannot feel the products in person, says Mr Ou. Many Singaporeans, he adds, also still prefer global brands like Adidas, Nike and Lululemon, which boast variety and prestige.

Similarly, fellow local apparel brand YeoMama Batik had its fair share of obstacles trying to brand and debut its activewear line. The batik fashion label, founded by Ms Desleen Yeo and her mother in January 2018, launched, albeit unsuccessfully, a batik activewear line called Ninja in September last year.

"We didn't realise how different activewear was from regular clothing. We'd assumed YeoMama Batik followers would also support Ninja, but it turned out to be a small percentage," says Ms Yeo, 29. They also struggled trying to target both the pole dancing community - Ms Yeo is an avid pole dancer - and the general fitness crowd.

Covid-19 gave them the opportunity to rebrand and relaunch.

"I realised everyone was doing home workouts, even friends who don't usually work out were buying activewear," says Ms Yeo.

Refocusing on the fitness community, the team redid the product photography and partnered with local yoga studios to promote the apparel. The products Ninja first debuted with remain the same - bra tops ($68), leggings ($88) and shorts ($58). Unlike the main line, which is made from hand-stamped batik, Ninja's patterns are digitally printed, as batik dyes cannot seep into lycra.

Since relaunching in end-April, products have been moving at a 60 per cent growth rate, Ms Yeo says. They started stocking Ninja on e-retailer Zalora and have been selling about 20 pieces a month.

She believes they still have a long way to go in building a relationship with the local fitness community, and creating "motivational content" to sustain the brand.

Source: The Straits Times © Singapore Press Holdings Limited. Reproduced with permission.

If you would like to find out how you can pivot your business, speak to the business advisors at the SME Centre.

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F Brand co-founders Jack Ou (left) and Fermelle Ho (right) with model John Wang and two mannequins modeling activewear from F Brand. ST PHOTO: ONG WEE JIN Before the pandemic, consultant Merlyn Kang considered herself lucky if she could fit in two workouts a week.

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1) Market Structure
Definition of Monopolistic Competition:

A monopolistic industry is one in which multiple firms provide similar alternatives for their products or services. Although the barriers to entry are low, companies risk going out of business since monopolistic competition is strongly related to the brand differentiation business plan. Also, because barriers to entry are low, new enterprises can readily enter or exit this competitive market. Companies in the monopolistic competition have price control but a small market share. A monopolized competitive company perceives a demand for its goods between monopoly and competition.

Why is the Sportswear industry is classified as Monopolistic Competition?

The sports goods business has a segmented market with considerable competition in the market. The growth of the demand for sports products is one of the determinant variables. An example of a market structure like this may be in the sportswear market, Adidas and Nike. Companies use product differentiation to set their brands apart from their competitors. Advertising, distribution distinction, and product difference are all examples of ways to do this. Nike, for example, promotes the 'Just do it' campaign, while Adidas creates the 'Impossible is nothing' ad. Recognizability gained via marketing and advertising allows consumers to distinguish one brand from another and may persuade them to choose one over another. Adidas has sponsored some of the world's most famous footballers by endorsing famous athletes such as Toni Kroos, Paulo Dybala, and Paul Pogba.

Support from key sources:

https://www.investopedia.com/terms/m/monopolisticmarket.asp

https://khelnow.com/football/top-5-footballers-who-represent-adidas

To find out more about report writing:

·       Find more evidence on how sportswear stores in Singapore stand out from one another.

·       Find out more about the different types of sportswear stores in Singapore.

2) Key Characteristic of the sportswear industry

The main key characteristic in the footwear industry is innovation, ensuring new and creative ideas that best suit individuals with fashionable clothes and comfortable shoes. Sports apparel is also worn in strenuous physical activities such as workout sessions or while playing sports, providing wearers comfort and agility without forgoing any limitations.

The second vital element in the sportswear industry is creativity, keeping the design up to date. Having enticed existing and attracting new customers to their store, consumers do not get tired of seeing the same products again. Furthermore, innovation enables businesses to develop fresh ideas keeping their users focused and engaged, which is critical to their success.

Number of sellers and buyers

The sports sector is a large market with several competitors such as Adidas, Nike, Under Armour. The more sellers there are, the less power the seller can set/raise the price. As a result, Adidas must decrease the product price to make it more affordable to their consumers. Ensuring their product will meet the percentage of income where both the wealthy and the poverty can enjoy and acquire their products. Help enhance customer loyalty, as customers may perceive the product as inexpensive and are more likely to return in the future.

Information in the market

Marketing plays a vital part in generating more money, and different organizations employ various marketing tactics. Marketing tactics will influence the organization's sales and income greatly. Consumers will respond effectively with diverse marketing techniques. As a result, the greater the degree of information accessible between the customer and the organization, the more difficult it is to establish or increase product pricing.

Support from key sources:

https://profitworks.ca/blog/marketing-strategy/545-nike-strategy-how-nike-became-successful-and-the-leader-in-the-sports-product-market.html#:~:text=The%20Nike%20marketing%20strategy%2C%20in,through%203rd%20party%20retails%20stores.

https://www.marketing91.com/marketing-strategy-puma/#:~:text=PUMA%20distributes%20its%20offerings%20through,for%20its%20major%20wholesale%20accounts.

Marketing Mix of Adidas | Learn the 4Ps of Marketing Mix of Adidas (heartofcodes.com)

To find out more about report writing:

·       A general review of the footwear industry

·       What impact does characteristic play in pricing decisions?

3) Demand determinants that apply to the product/service/industry

Number of buyers

The sportswear industry has risen over time, increasing health consciousness and physical activities such as jogging, yoga and swimming. According to statistics, Adidas profits grew in the first half of 2021 compared to the first half of 2020. Activewear is becoming more popular among consumers, resulting in an increase in demand. As a result, the size of the sportswear market will continuously rise between 2020 and 2026, with 64 % choosing to wear sportswear as their daily clothes. Thus, the sportswear industry's market would be boosted even further. In addition, Singapore's Health Promotion Board designed programs and events to raise awareness among Singaporeans, namely the National Steps Challenge, whose goal is to stay fit and healthy. Community marathons and cycling have grown in popularity. Thus, these activities will enhance the need for consumers purchasing sportswear to have comfortable footwear while participating in activities, increasing the demand for the sportswear sector.

Taste and Preferences

An increase in the demand for sportswear leads to changes in customer tastes and preferences. Adidas produces comfortable yet fashionable sportswear targeting the active athlete's market. Through sponsorship agreements with celebrities, customers are more willing to purchase products associated with them. Adidas uses a closed-loop business model, attracting eco-friendly customers, as shoppers will want more than just quality as some look for products that align with their values. Adidas shoes have become popular recently not only for sports purposes but also for casual and daily use.

Support from key sources:

https://www.tascperformance.com/blogs/articles/when-did-the-athleisure-trend-start

https://www.craftdrivenresearch.com/sportswear-industry-singapore/

https://www.statista.com/statistics/613169/size-of-the-global-sportswear-market/

https://theuniquegroup.com/sportswear-industry-balances-functionality-style/

To find out more about report writing:

·       Size of the market worldwide.

·       How may Adidas' endorsement of the Singapore Health Promotion Board help their business?

·       To determine the factors that influence consumers' decisions to purchase sports shoes.

4) Supply determinants that apply to the product/service/industry

Technology

According to a report, businesses utilize Twitter to market their business, such as Nike, Adidas, and Under Armour, which has experienced success in leveraging technology to promote their businesses while lowering their reliance on labour. By using technology to market their business by advertising discounts on specific products online. In terms of Adidas goods, they promote themselves using a combination of offline and online methods. Adidas has a large following on their social media platforms posting new products, providing regular updates. Through offline Channels, Adidas reaches out to customers through television commercials, out-of-home advertising, and event sponsorships to market its products. The company has partnered with well-known athletes. Thus, Technological advancements that ensure efficient manufacturing will cause a supply curve to move to the right. Consumers will want more of the goods at a lower price as the cost of production falls. Consumers may buy more products at reduced costs.

Price of Related Goods (Substitute)

Price fluctuations will impact the supply of goods. Competitors such as Nike, Puma and Under Armor sell similar footwear such as running shoes, sneakers, and sliders as a substitute for the customers. According to our research between Adidas and Nike, Adidas products are not as affordable as their competitor. The affordability rate for Adidas is 57%, while Nike's is 66%. Consumers may choose Nike over Adidas as it is an alternative at a lower price.

Adidas and Nike are two substitutes. If the price of Adidas increases, the consumer will shift their choice from Adidas to Nike. The demand for Nike will increase in the market. With the unsold Adidas shoes in the market, the sellers will reduce their prices to clear out the unsold stocks. If the pricing of Adidas shoes decreases, the quantity demanded will again increase. When the pricing of the Adidas shoes is higher, consumers may choose to buy from Adidas' competitors, such as Nike and Under Armour, due to the price-related items kept in supply.

Support from key sources:

https://www.forbes.com/sites/alapshah/2018/03/22/promotional-activity-in-the-sportswear-industry-a-look-at-nike-under-armour-and-adidas/?sh=51e6307d771e

https://heartofcodes.com/marketing-mix-of-adidas/

https://smallbusiness.chron.com/effects-technology-supply-demand-curves-30626.html

https://fashionunited.uk/news/business/nike-vs-adidas-are-performance-shoes-more-expensive-than-lifestyle-ones/2021041655030

To find out more about report writing:

·       Data on the impact on technology and how it helps businesses.

·       The graph on increasing technology for some sport-wear businesses

5) The likely price elasticity of demand of the product/ service/ or it is determinant(s) based on your research

The price elasticity of demand considers the income elasticity of demand measures to changes in the price of goods and services offered. The closer the product fulfils the needs and wants as a good, the more price elastic the product is.

Necessity vs Luxury

Inelastic items classify as necessities. It is not something individuals can or will go without a price change, having a minor impact on consumer demand. Elastic products classify as luxury goods. A price rise for goods has a considerable influence on consumption.

Adidas shoes are price elastic since they are considered premium goods. For example, the demand for Adidas limited-edition sneakers is sensitive to price fluctuations since potential buyers might avoid the product if it is deemed excessively pricey. As a result, when the price of an Adidas limited-edition sneaker rises, people will either buy fewer or move to similar alternatives that are deemed more affordable.

Availability of Substitutes

According to our findings, the price elasticity of demand for a good, with many substitutes available, is high. Hence, Adidas product price elasticity will be affected by the availability of substitutes.

In the sportswear market, footwear from Nike and Adidas are both prices elastic. Both companies allow runners to run and so satisfy similar demands and desires. When the cost of the alternative falls, Adidas demand will decrease, and vice versa. Several available substitutes will make the demand curve highly elastic as responsiveness to changes in price attracts immediate changes in customer behaviour such as purchasing patterns. A minor change in price in Adidas footwear leads to a significant difference in quantity demanded in other substitutes that sells similar footwear at a lower price.

Habit

Each firm creates a unique experience and visual appeal for its customers. Adidas' tagline is "Always assisting our customers in reaching for the best". Nike's tagline is "To inspire and innovate for every athlete on the planet". Under Armour's tagline is, "passion and a never-ending quest for innovation make all athletes better". As a result, some consumers will shift their tastes and preferences to new product brands based on their more appealing slogans. Consumers will not create a natural habit with Adidas' products as several brands whose slogans, designs, prices and colours will draw them to other brands like Nike or Under Armour. The demand for Adidas goods has decreased. If the prices of Adidas shoes rise, demand for shoes will reduce by more than the proportion accordingly.

Support from key sources:

https://www.comparably.com/companies/adidas/mission

https://www.underarmour.com.sg/en-sg/about-under-armour.html

https://www.cleverism.com/company/nike/

To find out more about report writing:

·       The trend of Adidas shoes compared to other competitors

·       How does consumer's income will cause a change in demand

·       Purchasing power of Adidas competitor (Nike, Under Armour)

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MICROECONOMIC PRELIMINARY ANALYSIS