Published: Jan, 2018
Competition in the snow sports apparel market is quite aggressive in order to maintain a strong position from a global perspective, says Transparency Market Research in a recent report. The competitive landscape is consolidated up to a certain degree in this apparel industry. Every company manufacturing the apparels has a varied product portfolio. There are several such companies who hold a prominent position in this market, and few examples are: Nike, Adidas, Volcom, Champion, Mountain Hardwear, and UnderArmour.
From a regional perspective, North America is expected to continue its dominance in the global snow sports apparel market, in terms of revenue generated in 2017. This trend is predicted to rise throughout the period from 2017 to 2022, with the maximum demand seen in United States and Canada. The market is expected to grow at a CAGR of 6.5% for this period in the North American region, with valuations predicted to rise from US$397.8 mn in 2017 to US$546.3 mn in 2022. After the North American countries, Europe hold the second spot in the apparel market, which is expected to rise at a CAGR of 5.3% during the same 2017 to 2022 period. Its valuation is anticipated to reach US$403.5 mn by 2022. From an overall perspective, the research study detailed in the TMR report indicates that the demand for global snow sports apparel industry would rise at a good rate, especially during the forecast period from 2017 to 2022.
Shell Tops as a Lucrative Apparel Segment
Shell tops has gained the top demand in the snow sports apparel industry and hence has emerged as a leading segment. This segment had an individual valuation of US$192.9 mn in 2017, and represented about 14.8% of the overall demand. According to TMR, the demands for this segment are expected to grow at a CAGR of 5.8% measured during the forecast period of 2017 to 2022, with a valuation of about US$255.3 mn. Being a material used for outdoor activities, the latest shell tops are designed to be utilized as outer clothing layers that are suitable for wearing in a variety of environments. These above figures indicate that the shell tops segment is surely growing at a faster rate than any others in the global snow apparel market.
Rise in Expenditure for Recreational Purposes Improving Apparel Demand
With changing lifestyles especially amongst the urban population, many are turning towards outdoor recreational activities. This is a key driver of the snow sports apparel market. Other reasons for causing an upsurge in the market involve growing awareness amongst people about outdoor sports and the physical and mental benefits manifested by participating in snow-based sports.
In addition to these reasons, there is an improved awareness of safety while dealing with snow sports. This has further lead to rise in demand of protective clothing apparel such as shell tops and helmets.
E-commerce is also considered as a significant driver for upsurge in the snow sports apparel market. In this case, people are able to easily search for a particular product, make comparisons, and purchase the items as per requirement. Thus, existence of ease in purchasing products is responsible for consumers to turn towards E-commerce websites for buying snow sports apparel.
TMR also indicates that particular events in the sports industry can also highly influence a market. In the current case, the 2014 Sochi Winter Olympics caused substantial influence on youngsters to buy snow apparel and clothing.
The information presented in this review is based on a TMR report, titled, “Snow Sports Apparel Market (Product Type - Suits, Shell Tops, Insulated Tops, Fleece Tops, Sweaters, Shell Bottoms, Insulated Bottoms, Fleece Bottoms, Stretch Bottoms; Channel - Sport Stores, Franchises Stores, Specialty Stores, Online Snow Sports Apparel; Price Range - Economy, Mid-Range, Premium, Super-Premium; Demographics: Men, Women, Kids) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022”
Key Segments of the Global Snow Sports Apparel Market
By Product Type:
- Shell Tops
- Insulated Tops
- Fleece Tops
- Shell Bottoms
- Insulated Bottoms
- Fleece Bottoms
- Stretch Bottoms
- Sports Stores
- Franchises Stores
- Specialty Stores
- Online Snow Sports Apparel
By Price Range:
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