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Noida, Uttar Pradesh, India, 2011/12/21 - Increasing purchasing power and changing lifestyle patterns are likely to propel sportswear market in India, which is anticipated to grow at CAGR of 33% during 2010-2014, identified RNCOS.
According to our latest research report,“Sports Wear Market in India”, the Indian economy is exhibiting tremendous growth over the past decade, resulting in the increased consumption levels and changing lifestyle. The country has emerged as one of the fastest growing retail destinations globally. Indian consumers, who were traditionally considered as ‘price sensitive’, are now becoming more brand-conscious.
Our research anticipates that the current size of the Indian sportswear industry is worth INR 365.8 Billion, and is anticipated to grow at a CAGR of around 33% during 2010-2014. The current market estimates and future projections are entirely based on a set of feasible market trends and Indian demographics, which take into account consumer behavior and spending patterns that may affect the growth of the sportswear industry.
Moreover, liberalization and globalization have given much required impetus and fuelled the exponential growth in the sportswear sector. Prevalence of several factors, such as low cost, variety and abundance of raw material, quality-consciousness, and R&D activities differentiates the Indian sportswear industry other countries and provide it substantial impetus for growth in the future. The restructuring and transformation of the sportswear industry from unorganized sector to a professionally organized sector is also favoring growth of the Indian market.
Presently, the sportswear industry is dominated by the unorganized sector. With the economic growth trickling down the ladder, there will be an increase in per head disposable income, which will improve the living standards of the families. This will result in more and more families turning brand-conscious and in a better position to purchase premium sportswear products. Thus, the total Indian sportswear market is anticipated to incline towards being an organized sector by the end of 2014.
The report,“Sports Wear Market in India”, provides extensive research and in-depth analysis on the sportswear market. Thorough data and analysis presented in the report will help clients evaluate the leading-edge opportunities critical for the success of the sportswear market in India. Factors, which are fueling growth in the Indian sportswear market, have been discussed in detail along with the challenges that could obstruct smooth running of the industry. Taking into consideration, all the prerequisite knowledge necessary for clients prior to making any investment decision, the report holds substantial rational analysis.
RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.