As more people participate in athletics, the market for sports enhancement clothing and equipment has grown. This market includes apparel, footwear and equipment.
In China, for example, the sporting goods market has grown 8% annually since the 2008 Beijing Olympics, reaching $7.3 billion. Last year, that growth rate increased to 10%. The market is forecasted to reach $34.3 billion in 2018, according to VAMK University of Applied Sciences.
These companies are producing innovative sports equipment and clothing.
Manufactures smart vests and shorts.
Makes training equipment for a dozen sports.
Offers performance shirts and apparel.
1. Smart Gear
“Smart Gear is the only weight resistance gear designed specifically for the backbone of performance, movement. Athletes use the Smart Gear to improve their movement skills by becoming faster, quicker, and better conditioned.” – Smart Gear
Headquartered in Marshall, MI, Smart Gear manufacturers weighted vests and shorts.
The company’s weighted vest was introduced in 1995 and was the result of four years of research. The vest provides four to eight pounds of resistance and is intended to be worn during practice, training and even while playing. The vest was originally designed for basketball, but is now used by runners and football players as well.
Similarly, the weighted shorts also provide resistance as well as target hip flexor development.
Gear can be worm by men or women.
In the United States, the largest athletic brands are Nike and Adidas, according to The Wall Street Journal, reports M/A/R/C Research. However, these brands have gotten criticism for focusing on performance more than appearance. Customers are looking for both. More than 800 brands compete in the athletic clothing market.
Women’s athletic apparel has grown at a rate of 19% annually, but is beginning to slow, according to M/A/R/C Research.
Nike is forecasted to earn $32.3 billion in revenue in 2016, according to S&P Capital.
Social media handles + website
“The SKLZ brand offers skill & performance training products & programs for athletes.” – SKLZ’s Twitter page
Headquartered in San Diego, SKLZ provides training equipment for a dozen sports. The company’s goal is to prepare athletes for their sports. It has three brand pillars: authentic, tenacious and inspiring.
SKLZ partners with EXOS, a company that provides training and services to athletes and the military. All SKLZ equipment is designed with EXOS’s performance-innovation team.
In addition to sports equipment, SKLZ also provides training to teams and coaches.
Globally, the retail sports equipment market is forecasted to be worth $94 billion in 2017, according to Lucintel, Research and Markets reports, growing at a CAGR of 2.2% annually. The market is growing not only because of increased health awareness, but because of an increased population and emerging economies.
Market Research Reports Search Engine forecasts the market will grow at a CAGR of 3% but only be valued at $81 billion. In 2013, the market was worth $66.5 billion. The largest segment in the sports equipment market is balls, which is forecasted to hold 26.6% of the market by 2020.
Social media handles + website
3. Sports Science
“Smarter performance wear to help you do more (or less) in comfort and style.” – Sports Science’s Twitter page
Founded in 2004, company founder Neal Caplowe wanted a performance shirt – something that could be worn for sports as well as other activities. The company is headquartered in Fairfax, VA. No sweatshops are used in production as all products are made in the United States.
Sports Science uses a polyester that looks and feels like cotton but wicks away moisture. It is 85% synthetic and 15% natural fibers. The natural fibers absorb moisture while the synthetic fibers pull it away. Sport Science says this fabric has several benefits: odor reduction, softness, is easy to clean and regulates a person’s core temperature.
The sports apparel market is growing quickly. By 2017, the market is expected to reach $125 billion and grow at a compound annually growth rate (CAGR) of 6% over the next five years, according to Lucintel, Research and Markets reports. Asia is forecasted to be the fastest growing market.
The market is fueled by growing health awareness and an increase of women participating in sports, according to Allied Market Research. Allied also forecasts Asia-Pacific will be the fastest growing region because of its increasing population with disposable income, especially in India and China. From 2015 to 2020, the market is forecasted to grow globally at a CAGR of 4.3%.