DUBLIN, March 23, 2021 /PRNewswire/ — The “Sports & Fitness Clothing – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Disrupted Socialization Opportunities Threaten to Create an Existential Crisis for the Fashion Industry. Sports & Fitness Clothing Slumps by -8.5%.
The global market for sports and fitness clothing is expected to plummet by -8.5% in the year 2020 and thereafter recover and grow to reach US$ 231.9 billion by the year 2027, trailing a post COVID-19 CAGR of 4.4% over the analysis period 2020 through 2027.
With social distancing seen as the only available and effective way to slow the spread of the disease until a vaccine arrives, all sporting events have been cancelled in 1st and 2nd quarters 2020 all over the globe.
Annual competitions have been suspended, and major sporting events postponed or cancelled ranging from football, cricket, fencing, hockey, Formula 1 racing, cycling, sailing to skiing. The Tokyo 2020 Olympics has been postponed to July 2021.
Few of the other major sporting events cancelled include MLB baseball which was scheduled in March 2020; Nippon Professional Baseball in Japan; KBO League in South Korea; NBA Basketball; South Korean Basketball League; Serie A in Italy; NBL in Australia; EuroLeague: Milan vs. Real Madrid; European Rugby Championship; Super Rugby; Asian skateboarding street championship; Alpine Skiing World Cup; Ski Cross World Cup; Snowboard World Cup; among numerous…