The Athleisure market was valued at US$ 331.0 billion in 2022 and it is anticipated to grow up to US$ 727.5 billion by 2032, at a CAGR of 8.1% during the forecast period.
Athleisure is a term used to describe clothing that is designed to be worn both for exercise and for everyday activities. The term is used to describe a trend that has emerged in recent years, in which people are increasingly wearing sporty clothing such as yoga pants and sneakers as everyday attire. This trend is driven in part by the increasing popularity of fitness and health, as well as the comfort and practicality of athleisure wear.
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Athleisure wear is typically made from comfortable, breathable fabrics such as cotton or polyester, and is often designed to wick away sweat. This type of clothing is usually loose-fitting and comfortable, making it ideal for both working out and casual wear. While athleisure wear can be worn by people of all ages and sizes, it is particularly popular among millennials.
Market Drivers and Trends
The burgeoning young population throughout the world’s interest in outdoor sports and recreation has raised the need for a variety of athleisure accessories. One of the key causes influencing this trend may be the rising emphasis on fitness and health consciousness, which is fueling a strong demand for fashionable apparel that is also comfortable. Additionally, a lot of businesses worldwide specialize on certain sports product categories and provide great customer satisfaction top priority. Today, a wide range of businesses provide specialized goods that cater to the preferences and palates of every consumer. They also provide knowledgeable advice to help clients make the right choices.
One of the major fashion trends right now, sustainability, is now having a significant impact on the industry. Customers are continuously looking for innovative items made of long-lasting, high-quality, sustainable materials, and many businesses are working to combine fashion with function. Because exercise is becoming such a necessity, the older age group is now more interested in athleisure than ever before. They are focusing on both fashion, especially for ladies, and sports and athleisure apparel. For well-known businesses that operate on a worldwide basis, this will be a tremendous opportunity.
Major Players in the Athleisure Market
The key players studied in the athleisure market are adidas America, Inc. (US), HanesBrands Inc. (US), LACOSTE USA, Inc. (US), lululemon athletica inc. (US), Nike, Inc. (US), Outerknown, LLC (US), Pangaia Group (UK), Under Armour, Inc. (US), Vuori, Inc. (US), and Wear Pact, LLC (US).
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COVID-19 Impact
The global yoga scene has been significantly impacted by the COVID-19 pandemic. The lockdown measures resulted in the closure or temporary closure of yoga studios, gyms, health clubs, and other facilities where in-person group yoga instruction were held. However, the industry development was aided by the switch from in-person meetings to online platforms. Customers were lured to loungewear like leggings, pyjama sets, and other soothing substitutes throughout the epidemic.
In order to meet this trend, the Old Navy shop rearranged the layout of its store and put certain things right at the entrance. To increase their market share, major corporations are releasing new products with elastic fabric that can be worn to the store or on a run.
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