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Global sportswear industry faces softer growth in 2025

Premium products and innovative features are expected to sustain consumer demand.

New products, premium offerings, and better stock management are driving modest growth in the global sportswear industry, according to a DBS report.

The global sportswear industry is entering 2025 with revenue growth slowing to a low-to-mid single-digit rate, down from 4% in 2024, as per data from Euromonitor.

Economic pressures are expected to continue limiting discretionary spending but premium products and innovative features like On’s LightSpray and Hoka’s Meta-Rocker are expected to sustain consumer demand and brand loyalty.

The industry is also becoming more competitive, with challenger brands like On, Hoka (Deckers), New Balance, and Asics gaining ground through product innovation and targeted marketing.

The report also said major brands such as Nike and Adidas must diversify their offerings and strengthen partnerships with athletes and celebrities to maintain their market share.

Lululemon is also facing challenges, with its sales in the Americas up just 2% year-on-year in 3Q24, prompting the company to seek growth in international markets.

Chinese sportswear brands are capitalising on shifting consumer demand and the government's push to expand the domestic sports industry to RMB5t by 2025.

Key players like Anta and Fila are managing inventory more efficiently to minimise market volatility, with stock-to-sales ratios at five times.

The global sportswear industry is expected to maintain a 6.3% CAGR from 2024 to 2027.

Brands that can adapt to market changes and innovate are likely to outperform in the coming years, the report said.

 

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