India Athletic Apparel and Footwear Industry to reach USD 2.9 billion by 2017: Ken Research

ROHINI, India - March 16, 2013 - PRLog -- New Delhi: 25/2/2013- The athletic apparel and footwear industry in India has witnessed a phenomenal growth over the past seven years and now occupies a place of prominence in the Indian economy in terms of its massive potential for employment generation and export. The industry has witnessed brisk growth in the last few years driven by the rising income levels, amending lifestyles and the entry of foreign players in the industry post liberalization. The ever increasing popularity of cricket along with growing interest in sports such as football, hockey and tennis has contributed to the growth of functional sportswear market in the country. The country is hosting a series of international sporting events which is likely to boost the industry and increase sports awareness. In addition to this, Indian government is increasingly focusing on sports promotion, training and infrastructure, and exports of sports goods which include sports apparel, footwear and accessories.
The restructuring and transformation of the athletic wear industry from unorganized sector to a professionally organized sector has also esteemed the growth of the Indian market for athletic apparels and footwear over the past few years.

With global integration, the modifying workplace customs and with the culture of many IT and MNCs having in-house gymnasiums or sponsoring their employees for fitness activities such as gymnasiums, golf and yoga, the demand for sports apparel is surging. The athletic apparel market in India has grown at a CAGR of 15.9% over the period 2006-2012.

The males’ segment of the athletic footwear market have contributed significantly to the total market revenue in 2012, with an active demand for basketball shoes, lightweight running shoes, training shoes and soccer boots. On the other hand, the Athletic footwear market has witnessed a strong demand for female athletic shoes, especially from the school/college going teens and young mothers. While, teens primarily demand for training and sports-inspired casual shoes for their outdoor usage, mothers have showcased preference for toning and running/jogging shoes.

According to the research report “India Athletic Apparel and Footwear Industry Outlook to 2017- Online Marketing to Provide Further Impetus” by Ken Research, the India athletic apparel market would grow at a CAGR of 19.1% from 2013-2017, thus reaching USD1.3 billion by 2017 due to rising awareness of the people in the country towards leading a healthy lifestyle leading to greater participation in physical activities such as jogging, walking, training and other related workouts.

Several factors, including a thriving middle-class population, a paradigm shift in consumers’ attitude to health and fitness, an increase in the number of sports events and the growth of organized retail will drive the market. In addition to this, recent regulatory changes made by the government on FDI in retail, passed by the Union Cabinet, are expected to give a further impetus to the organized athletic wear market in India.

The report provides detailed overview on the athletic apparel and footwear market in India and aids readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, athletic apparel and footwear manufacturing companies, suppliers and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.

For more information on the industry research report please refer to the below mentioned link:
http://www.kenresearch.com/consumer-products--retail/text...