19 June 2019, Global reflective sportswear market is anticipated to witness an exponential growth in the
forecast period. Reflective sportswear, a type of personal protective equipment
(PPE), is a high-visibility clothing that has reflective properties, which
could be noticed even in the darkest background. The factors that propel the
growth of the market include growing popularity of outdoor running and biking
at night, rising number of fatalities resulting from hard adventure sports
activities, highly reflective sportswear to decrease fatalities, rising
consciousness, and increasing demand.
On the other hand, a
factor may hamper the growth of the market including greater accessibility of
counterfeit products. The market is anticipated to expand at a significant CAGR
in the upcoming period as the scope, product types, and its applications are
increasing across the globe.
There is high demand for
enhanced sportswear, comprising reflective sportswear as it offers a high level
of security, which is one of the key factors by most consumers. Most of the key
competitors use mesh, lycra, neoprene, water-resistant fabrics, reflective
fabrics, microfiber fabrics, and waddings (a nonwoven material that is made
from synthetic continuous polyester filaments).
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Reflective sportswear market could be
explored by product type, industry type, distribution channel and geography.
The market could be explored by product type as Adjustable Safety Vest Belt,
apparel, Shorts, footwear, Vest, T-Shirt, and Tank. The “Apparel” segment led
the reflective sportswear market in 2017 and will continue to lead in the
forecast period. The key factor that may be attributed to the growth of the
market includes increasing demand.
Based on industry type, the market
could span Professional and Amateur. The market could be explored based on distribution
channel as Distributor and Direct Sales. The “Direct sale” segment led the
market in 2017 and will continue to lead in the forecast period. North America
accounted for the major share of the market in 2017 and will continue to lead
in the forecast period. The factors that could be attributed to the growth
include rising demand, growing sports activities, and increasing consciousness.
Some of the key players that fuel the
growth of the reflective sportswear market comprise New Balance, Adidas, PUMA,
Nike, Under Armor, SUGOI. The leading companies are taking up partnerships,
mergers and acquisitions, and joint ventures in order to boost the inorganic
growth of the industry.
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