The basketball apparel industry is forecasted to expand to a value of 10.9 billion USD by the year 2034, with an annual growth rate of 6.2%.

In the dynamic world of sports apparel, the global basketball market saw significant changes and developments in 2024. The market, valued at USD 6.0 Billion, is projected to reach an impressive USD 10.9 Billion by 2034, reflecting a CAGR of 6.2%.

Modern basketball apparel is increasingly incorporating performance-enhancing technologies, with key players such as Nike Inc., Adidas AG, Under Armour, Puma SE, Reebok International, New Balance Athletics, Jordan Brand (a subsidiary of Nike), ASICS Corporation, Champion (Hanesbrands Inc.), Converse (a subsidiary of Nike), Peak Sport Products, Anta Sports Products, and Li-Ning Company leading the charge.

Notably, HanesBrands agreed to sell the intellectual property and certain assets of its global Champion business to Authentic Brands Group for $1.2 billion in 2024. Meanwhile, Puma and Reebok enhanced their appeal through performance and style collaborations, while New Balance introduced technology-driven products for broader consumer segments.

Polyester emerged as the leading material in the market, commanding 48.3% of the material segment. Brands are also adopting sustainable practices in response to consumer demand for environmentally conscious products.

Jerseys led the product type segment with a dominant share of 35.5%, followed closely by the Men's segment, which accounted for 55.5% of the market share. The growing consumer preference for athleisure wear is evident in these statistics.

In North America, the market maintained its dominance with a 30.1% share. In the Asia-Pacific region, Adidas and Nike are major companies with significant shares in the basketball outfitter market. Adidas holds a notable presence in Greater China and Japan/South Korea, while Nike is a global leader and active in this sector. American Eagle Outfitters participates in sportswear but is less prominent specifically in basketball outfitting in this region.

Online Retail became the preferred distribution channel, capturing 38.4% of the market. Notable partnerships included Basketball Australia partnering with iAthletic for a significant apparel partnership, and Unrivaled, the new professional women's basketball league, partnering with Under Armour for a multiyear agreement.

Nike maintained its dominant position in the market despite potential production challenges due to U.S. tariffs. To expand their reach, brands like Adidas targeted younger consumers, while Under Armour focused on grassroots initiatives to foster brand loyalty.

Innovation continued with ASICS incorporating advanced materials into its apparel for improved performance, and JD Sports Fashion Plc completing the acquisition of Hibbett, Inc., enhancing their position in the North American market. Consumers are also showing increased interest in customized and personalized basketball apparel, indicating a shift towards personal expression in sports fashion.

Lastly, Momentec Brands expanded its Team Momentec Brand Ambassador roster in 2024, further solidifying its presence in the basketball apparel market. The future of basketball apparel promises to be an exciting blend of style, technology, and sustainability.

The basketball apparel industry is forecasted to expand to a value of 10.9 billion USD by the year 2034, with an annual growth rate of 6.2%.