Reflective sportswear market size to grow by USD 333.51 million from 2022 to 2027; A descriptive analysis of customer landscape, vendor assessment, and market dynamics

NEW YORK, Jan. 10, 2023 /PRNewswire/ -- Technavio categorizes the global reflective sportswear market as a part of the global apparel, accessories, and luxury goods market, which covers products and companies engaged in the manufacturing/marketing of apparel, accessories, and luxury goods.

The global reflective sportswear market size is estimated to increase by USD 333.51 million between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 4.3% during the forecast period.

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Reflective sportswear market - Customer LandscapeTo help companies evaluate and develop growth strategies, the report outlines –

Key purchase criteria

Adoption rates

Adoption lifecycle

Drivers of price sensitivity

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Reflective sportswear market – Vendor Analysis

Vendor Landscape – The global reflective sportswear market is fragmented. The market comprises many regional and global vendors. The vendors in the market compete on many different factors, including price, quality, brand, and variety. They are also focusing on online distribution channels for their online marketing and branding of their products to attract more customers. The market's competitive environment is expected to be moderate, with an increase in product-line extensions and technological innovations during the forecast period.

A few prominent vendors that offer reflective sportswear in the market include adidas AG, ASICS Corp., Columbia Sportswear Co, Hanesbrands Inc., Hey Reflecto, illumiNITE, New Balance Athletics Inc., Nike Inc., Pactimo LLC, Pentland Brands Ltd, Proviz Ltd., PUMA SE, PVH Corp., Reflective Apparel, Reflective Apparel LLC, SHEICO Group, SHIMANO INC, Sugoi, Under Armour Inc., and Vista Outdoor Inc.

Vendor Offerings -

adidas AG - The company offers reflective sportwear through its brand, run reflective jackets.

ASICS Corp. - The company offers reflective sportwear such as lite show jacket, lite show shorts among others.

Columbia Sportswear Co - The company offers reflective sportwear such as omni heat Infinity, omni heat black dot among others.

Hanesbrands Inc. - The company offers reflective sportwear such as track pants, shorts among others.

Reflective sportswear market - Segmentation Assessment

Segment OverviewTechnavio has segmented the market based on the product (apparels, footwear, and others), distribution channel (offline and online), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

The market share growth by the apparels segment will be significant during the forecast period. The demand for reflective sports apparel is increasing in both developed and developing countries worldwide. This is due to the rising number of sports tournaments and increasing participation in sports activities such as biking, cycling, climbing, and trekking.

Geography OverviewBy geography, the global reflective sportswear market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global reflective sportswear market.

North America is estimated to contribute 34% to the growth of the global market during the forecast period. The growth of the regional market can be attributed to factors such as the launch of innovative products, the rising use of online platforms to purchase reflective apparel, and increasing consumer participation in outdoor activities. The growing adoption of high-performance motorcycles and cycles is also driving the demand for reflective sportswear in North America.

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Global Reflective Sportswear Market – Market Dynamics

Leading Drivers –

The market is driven by the adoption of advanced marketing strategies by leading competitors.

Key vendors in the market are leveraging celebrity endorsement as a primary marketing strategy to increase their sales.

Apart from this, they are sponsoring a number of sports tournaments and matches to create brand awareness.

With increased internet penetration and expanding number of online users, vendors are including seasonal discount offers and lucky draws as part of their marketing strategies to attract customers and drive sales.

Many such marketing strategies adopted by vendors are driving the growth of the market.

Key Trends –

The effective use of raw materials and technology in the production of reflective sportswear is the key trend in the market.

Some vendors are using IlluminNITE TM coating method, which is based on many metallic micro-particles. The technology helps designers and manufacturers to make safety more fun and fashionable. It allows reflective materials to come in different varieties to meet the requirements of any active lifestyle.

Similarly, some vendors are using glass beads on sportswear to reflect light. The technique makes the sportswear highly visible even in low-light conditions.

The use of such innovative manufacturing techniques by vendors will have a positive impact on the growth of the market.

Major challenges –

The increased availability of counterfeit products is one of the key challenges affecting market growth.

Consumers in low-income countries prefer counterfeit products as they are priced at a much lower rate when compared with branded products.

The easy availability of such products is resulting in the dilution of original brands as some consumers perceive them to be original products.

This is preventing key competitors from achieving optimal market penetration and resulting in inventory backlogs in their supply chains.

Such challenges are expected to reduce the growth potential in the market.

Driver, Trend, and Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this reflective sportswear market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the reflective sportswear market between 2023 and 2027

Precise estimation of the size of the reflective sportswear market and its contribution to the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the reflective sportswear market industry across North America, APAC, Europe, South America, and Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of reflective sportswear market vendors

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Reflective Sportswear Market Scope

Report Coverage

Details

Page number

167

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.3%

Market growth 2023-2027

USD 333.51 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.1

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 34%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

adidas AG, ASICS Corp., Columbia Sportswear Co, Hanesbrands Inc., Hey Reflecto, illumiNITE, New Balance Athletics Inc., Nike Inc., Pactimo LLC, Pentland Brands Ltd, Proviz Ltd., PUMA SE, PVH Corp., Reflective Apparel, Reflective Apparel LLC, SHEICO Group, SHIMANO INC, Sugoi, Under Armour Inc., and Vista Outdoor Inc.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global reflective sportswear market 2017 - 2021

4.2 Product Segment Analysis 2017 - 2021

4.3 Distribution channel Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Product

6.1 Market segments

6.2 Comparison by Product

6.3 Apparels - Market size and forecast 2022-2027

6.4 Footwear - Market size and forecast 2022-2027

6.5 Others - Market size and forecast 2022-2027

6.6 Market opportunity by Product

7 Market Segmentation by Distribution Channel

7.1 Market segments

7.2 Comparison by Distribution Channel

7.3 Offline - Market size and forecast 2022-2027

7.4 Online - Market size and forecast 2022-2027

7.5 Market opportunity by Distribution Channel

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 North America - Market size and forecast 2022-2027

9.4 APAC - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 UK - Market size and forecast 2022-2027

9.12 Japan - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 adidas AG

12.4 ASICS Corp.

12.5 Columbia Sportswear Co

12.6 Hanesbrands Inc.

12.7 Hey Reflecto

12.8 illumiNITE

12.9 New Balance Athletics Inc.

12.10 Nike Inc.

12.11 Pactimo LLC

12.12 Pentland Brands Ltd

12.13 PUMA SE

12.14 PVH Corp.

12.15 SHIMANO INC

12.16 Under Armour Inc.

12.17 Vista Outdoor Inc.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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