The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.Learn More
While COVID-19 has caused double-digit declines for most apparel and footwear categories, sportswear has fared better than most. Globally, sportswear is estimated at US$ 292 Billion, and is set to grow at a compound annual growth rate of 6% to 2025, while overall apparel and footwear is expected to see a CAGR of only 4%. The pandemic has caused a 15% decline in sportswear globally, however, as consumers grew acclimated to the lockdown, sportswear and casual styles benefitted immensely from e-commerce growth as consumers sought out comfortable, multifunctional clothing to lounge around the house, exercise, run errands and work from home. Beyond sportswear and casualwear, nostalgia permeated the fashion scene largely because of the “cottagecore” trend on TikTok and Instagram which began as a result of consumers longing for an escape to simpler times.