India Sports Apparel Market Forecast & Opportunities 2026

1. FY2016 – FY2026 INDIA SPORTS APPAREL MARKET FORECAST & OPPORTUNITIES Published: April 2021 www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

2. Table of Contents S. No. Contents 1. Product Overview 2. Research Methodology 3. Executive Summary 4. Impact of COVID-19 on India Sports Apparel Market 5. Voice of Customer 5.1. Factor Influencing Purchase Decision 5.2. Brand Recall 5.4. Challenges Faced 5.5. Brand Satisfaction Level 6. India Sports Apparel Market Outlook, FY2016-FY2026F 6.1. Market Size & Forecast 6.1.1. By Value & Volume 6.2. Market Share & Forecast By Product Type (T-shirts, Sweatshirts, Sports Vests, Track Pants & Tights, Others) 6.2.1. 6.2.2. By End User (Men, Women, Kids) By Distribution Channel (Exclusive Stores, Supermarket/Hypermarket, Multi- branded Stores, Online, Others) 6.2.3. 6.2.4. By Region (North, South, East, West) 5.2.5. By Company (FY2020) 6.3. Market Map (By Product Type) 2 © TechSci Research

3. Table of Contents S.No. Contents 7. India T-shirts Market Outlook, FY2016-FY2026F 7.1. Market Size & Forecast 7.1.1 By Value (USD) & Volume (Units) 7.2. Market Share & Forecast 7.2.1 By End User 7.2.2 By Distribution Channel 8. India Track Pants & Tights Market Outlook, FY2016-FY2026F 8.1 Market Size & Forecast 8.1.1 By Value (USD) & Volume (Units) 8.2 Market Share & Forecast 8.2.1 By End User 8.2.2 By Distribution Channel 9. India Sweatshirts Market Outlook, FY2016-FY2026F 9.1 Market Size & Forecast 9.1.1 By Value (USD) & Volume (Units) 9.2 Market Share & Forecast 9.2.1 By End User 9.2.2 By Distribution Channel 10. India Sports Vests Market Outlook, FY2016-FY2026F 10.1 Market Size & Forecast 10.1.1 By Value (USD) & Volume (Units) 10.2 Market Share & Forecast 10.2.1 By End User 10.2.2 By Distribution Channel 3 © TechSci Research

4. Table of Contents S. No. Contents 11. Market Dynamics 11.1. Drivers 11.2. Challenges 12. Market Trends & Developments 13. Policy & Regulatory Landscape 14. India Economic Profile 15. Competitive Landscape 15.1. Puma Sports India Private Limited 15.2. Adidas India Marketing Private Limited Nike India Private Limited 15.3. Under Armour India Trading Private Limited 15.4. ASICS India Private Limited 15.5. Fila Holdings Corporation 15.6. Lotto Sport Italia Spa 15.7. Decathlon Sports India Pvt Ltd. 15.8. Shiv-Naresh Sports Private Limited 14.9. Skechers Retail India Private Limited 15.10. 16. Strategic Recommendations 17. About Us & Disclaimer 4 © TechSci Research

5. Scope of Report Product of Interest (POI): Sports Apparel Sports apparel are clothing items that are worn during physical workouts or specific games, however, exclude accessories and shoes. Professional athletes, as well as common population prefer wearing sports apparel for their daily workouts and professional gaming sessions. Market Segmentation PRODUCT TYPE END USER T-shirts Sweatshirts Sports Vests Track Pants & Tights Others Swimsuits Sports Hoodies Sports Bra REGION • Men Women Kids • Year Range • • • • Review Period • • FY2016 – FY2019 DISTRIBUTION CHANNEL • Exclusive Stores Supermarket/Hypermark et Multi-branded Stores Online Others • Base Year • • FY2020 • Estimated Year • North South East West • FY2021 • • • • Forecast Period • FY2022 – FY2026 5 © TechSci Research

6. Research Methodology

7. Research Methodology Market Profiling Data Analysis Data Data Developing List of Respondents Formulating Questionnaire Collection Validation In-depth secondary research was conducted to determine overall market size, segmental market size and top players in the India sports apparel market. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the India sports apparel market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Primary Research Desk Research Company Analysis ✓ ✓ Recent Developments Market Changing Aspects/Dynamics Government Policies Conclusion ✓ ✓ Market Participants Key Strengths ✓ Identifying Key Opinion Leaders Questionnaire Design In-depth Interviews Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection ✓ ✓ ✓ ✓ Primary Research Secondary Research Paid Sources LinkedIn TechSci Internal Database Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc. Factiva Hoovers ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ 7 © TechSci Research

8. Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of India sports apparel market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as prolonged durability, improved range of motion, breathability of material, and superior comfort, among others. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in India sports apparel market. Methodology Followed for Calculation of Market Size: Market Size by Value : Market size, in terms of value, for the year FY2020 was calculated based on information collected through • exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as sports apparel companies, suppliers, channel partners, industry experts, and other industry participants. The team interviewed more than 40 – 50 sports apparel companies, suppliers, 15 – 20 industry experts and other value chain • stakeholders in the India sports apparel market to obtain the overall market size from FY2016 to FY2020, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during FY2016-FY2020. The report includes the market size of only organized sports apparel market in India. • 8 © TechSci Research

9. Research Methodology Respondents were asked about the current and future market growth rates, market shares by product type, by end user, by • distribution channel, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders. Methodology Followed for Calculation of Market Shares: Market shares by product type, by end user, by distribution channel, by region and by company were calculated based on the • responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of sports apparel market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey • results in SPSS/Tableau Software. Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast • India sports apparel market, TechSci Research used various forecast techniques such as: Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis ✓ 9 © TechSci Research

10. Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. Partial List of Companies Interviewed Key Secondary Sources Puma Sports India Private Limited World Bank ▪ ▪ Adidas India Marketing Private Limited TechSci Research Proprietary Database & Knowledge ▪ ▪ Nike India Private Limited Repository ▪ Under Armour India Trading Private Limited Company Annual Reports ▪ ▪ ASICS India Private Limited Industry Magazines ▪ ▪ Fila Holdings Corporation Industry Reports ▪ ▪ Lotto Sport Italia Spa Statista ▪ ▪ Decathlon Sports India Pvt Ltd. News Dailies ▪ ▪ Shiv-Naresh Sports Private Limited Credible Paid Databases ▪ ▪ Skechers Retail India Private Limited ▪ 10 © TechSci Research

11. Industry Brief According to TechSci report on, “India Sports Apparel Market By Product Type (T-shirts, Sweatshirts, Sports Vests, Track Pants & Tights, Others {Swimsuits, Sports Hoodies, Sports Bras}) By End User (Men, Women, Kids) By Distribution Channel (Exclusive Stores, Supermarket/Hypermarket, Multi-branded Stores, Online, Others) By Company By Region, Competition Forecast & Opportunities, FY2026”, India sports apparel market has exhibited extensive growth in the historical years and was valued at USD498.68 million in FY2020. The market is further projected to continue its growth in the forecast years, advancing with a CAGR of 16.06% between FY2021 and FY2026, to reach USD1005.68 million by FY2026. India sports apparel market owes its growth to multiple factors like increasing brand awareness among Indians, rising purchasing power of Indian consumers, growing availability of sports apparels along with improving standards of living of the people in the country. Moreover, female and kid population of the country is getting involved in the sports activities actively thereby creating a demand pit for better and efficient sports apparel which in turn is driving the market growth in the forecast period. Indian sports sector is also witnessing a massive boost in the recent years attributed to the greater encouragement received in schools and colleges to take part in extra- curricular activities. Moreover, players nowadays are not confined to mainstream sports like cricket, football, and hockey, but are also winning world renowned medals in home games like, wrestling, kabaddi, yoga, etc. thus demand for complete and proper attire for the sportspersons is increasing the market exponentially. The report on India sports apparel market is segmented based on product type, end user, distribution channels, region and company. Based on distribution channel, the segments are further categorized into exclusive stores, supermarket/hypermarket, multi-branded stores, online, and others. Exclusive stores are brand related stores that only supply the apparels of a particular brand and provide customer satisfaction of original brand products. Whereas multi-branded stores are often sportswear stores that own franchises of the brands thereby providing the customers with a wider selection choice from multiple brands at a time. However, on the wake of the ongoing pandemic, the online channel of sales is projected to witness a noteworthy growth in FY2021. This is because online retail market offers a convenient option for sports apparel companies, due to low operating costs. Moreover, the advent of online retail has allowed consumers to easily checkout wide range of products on a single platform without having to spend a lot of time in stores. Indian economy was widely affected by the pandemic that set foot in early FY2020 and India sports apparel market was not untouched. Manufacturers of sports apparels have incurred huge financial losses due to the disruption of supply chain network across the country. Due to the lockdown restrictions, interstate travel and logistics were impacted, which are needed in order to maintain an efficient supply chain in the sports apparel industry. Moreover, while observing the lockdown, consumers were not able to visit multiple distribution channels and could only order the products online. However, after observing a setback, sports apparel market has observed a sharp rise in the demand for sports apparels in India in the post lockdown period as the government uplifted the restrictions imposed during the lockdown, following which more and more people have started engaging in physical activities in order to remain fit and active and decrease the possibility of illness. Furthermore, increasing popularity for apparels by Indian icons and preference of the population towards these icons and their suggestions for respective brands, drives the sports apparel market growth as well. Some of the top players in the India sports apparel market are, Puma Sports India Private Limited, Adidas India Marketing Private Limited, Nike India Private Limited, Under Armour India Trading Private Limited, ASICS India Private Limited, Fila Holdings Corporation, Lotto Sport Italia Spa, Decathlon Sports India Private Limited., Shiv-Naresh Sports Private Limited, Skechers Retail India Private Limited, among others. The companies are involving themselves into research and development for the methods of better quality, and various quality analysis tests to provide better products. “Growing middle class population base in Tier II & Tier III cities in the country has the potential to become a major demand generator for sports apparels in India. Various companies have increased their presence in these cities by offering their products either through exclusive retailers or multi-branded retail outlets and online channels. Share of organized retail in these cities is currently low, which creates an opportunity for major organized brands to enhance their presence by offering products either in premium or economy range, to attract the middle-class population in these cities. Moreover, India’s Tier II & III cities mainly comprise middle class and lower middle-class population. In addition, by FY2025-2026, number of middle-class households in the country is expected to double and reach 113 million. This indicates significant opportunities for sportswear companies to address the demand during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 11 © TechSci Research

12. Sample Data - Snapshot India Sports Apparel Market Size, By Value (USD Million), By Volume (Million Unit) FY2016-FY2026F CAGR FY2016-FY2020 By Value: xx% By Volume: xx% CAGR FY2021E-FY2026F By Value: xx% By Volume: xx% FY2016 FY2017 FY2018 FY2019 FY2020 FY2021E FY2022F FY2023F FY2024F FY2025F FY2026F Value (USD Million) Volume (Million Units) India Track Pants & Tights Market Share, By End User, By Value, FY2016-FY2026F FY2016 20.00% 30.00% 50.00% FY2017 20.00% 30.00% 50.00% FY2018 20.00% 30.00% 50.00% FY2019 20.00% 30.00% 50.00% FY2020 20.00% 30.00% 50.00% FY2021E 20.00% 30.00% 50.00% FY2022F 20.00% 30.00% 50.00% FY2023F 20.00% 30.00% 50.00% FY2024F 20.00% 30.00% 50.00% FY2025F 20.00% 30.00% 50.00% FY2026F 20.00% 30.00% 50.00% Men Women Kids India Sports Vests Market Share, By Distribution Channel, By Value, FY2016-FY2026F FY2016 5.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% Supermarket/Hypermarket 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% Others 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% FY2017 5.00% FY2018 5.00% FY2019 5.00% FY2020 FY2021E FY2022F FY2023F FY2024F FY2025F FY2026F 5.00% 5.00% 5.00% 5.00% Exclusive Stores Online Multi branded Stores 5.00% 5.00% 5.00% 12 © TechSci Research

13. Report Ordering Report Name: INDIA SPORTS APPAREL MARKET FORECAST & OPPORTUNITIES FY2016 – FY2026 Report Price License Type Price Electronic Access - Single User License $2950 Electronic Access - Multi-User License $3750 Custom Research License $7500 To View Sample OR Purchase Report 13 © TechSci Research

14. About Us & Disclaimer TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market. Related Reports • Global Online Apparel Retailing Market By Product Type (Upper Wear, Bottom Wear & Others), By End Use (Women, Men & Children), By Company, By Region, Forecast & Opportunities, 2025 India Kids Apparel Market By Category (Denims, T-Shirts/Shirts, etc.), By Season (Winter, Summer, etc.), By Point of Sale (Exclusive Stores, etc.), By Organized Vs • Unorganized, By Cloth Material Competition Forecast and Opportunities, 2011-2021 Global Women Apparel Market, By Type (Tops & Dresses, Bottom wear, Coats Jackets and Suits, Intimate Wear & Sleepwear, Accessories and Others), By Distribution • Channel (Store Based Retail and Non-Store Retail), By Company and By Geography, Forecast & Opportunities, 2024 TechSci Research – North America 708 Third Avenue, Manhattan, New York, United States Tel: +1- 646- 360- 1656 Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Europe 54, Old brook, Bretton, Peterborough, United Kingdom Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Asia-Pacific B – 44, Sector – 57, Noida, National Capital Region, U.P. - India Tel: +91-120-4523900 Email: sales@techsciresearch.com www.techsciresearch.com Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.