Outdoor Apparel Market will Showcase Negative Impact during 2020-2024 | Rise in Number of Private-label Brands to Boost the Market Growth
Technavio has been monitoring the outdoor apparel market and it is poised to grow by USD 3.90 bn during 2020-2024, progressing at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Outdoor Apparel Market 2020-2024 (Graphic: Business Wire)
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. adidas AG, ASICS Corp., Columbia Sportswear Co., G-III Apparel Group Ltd., Hanesbrands Inc., Newell Brands Inc., Outdoor Research, Patagonia Inc., Under Armour Inc., and VF Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Rise in number of private-label brands has been instrumental in driving the growth of the market.
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Outdoor Apparel Market 2020-2024: Segmentation