Market Definition
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.
Market Outlook
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.
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.
Athletic clothing is still valued as a luxury item and is more expensive than other sporting items. The exorbitant price may significantly impede market expansion in the years to come. The worldwide market will also suffer from consumer misunderstanding about these goods and desire for cheaper, lower-quality garments. Products of low quality are not environmentally friendly and may not be sustainable, which makes the market hostile.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
Market Segmentation
The report analyses the athleisure market based on product type, end user, distribution channel, and region.
Athleisure Market by Product Type
Based on product type, it is segmented into yoga apparels, shirts, leggings, shorts, and others. The shirts segment is expected to have the largest athleisure market share in 2022. Athleisure shirts are in higher demand since they combine comfort and style. Leading companies in the market, including Lululemon and Athleta, have been launching products to support the expansion of the sector. To meet the growing customer demand, this has prompted several merchants to introduce their own product lines. For instance, in January 2020, Target announced the introduction of its own line of athletic and athleisure items, which would include shirts, shorts and tracks created from fabrics produced sustainably. This collection’s shirts come in a variety of eye-catching and vibrant designs.
Athleisure Market by End User
Based on end user, it is segmented into men, women, and children. The children segment is expected to dominate the market during the forecast period. Sportswear and athleisure sales have increased dramatically over the world as a result of youngsters doing more sports. Parents are encouraging their kids to participate in a variety of sports due to the rising knowledge of the negative impacts of obesity and the growing desire to foster confidence in kids. The percentage of kids aged 6 to 12 who participated in team sports at least one day per year climbed from 55.5% in 2013 to 56.3% in 2018, according to a study by The Aspen Institute. As a result, it will fuel the growth of the children’s athleisure market throughout the forecast period.
Athleisure Market by Distribution Channel
Based on distribution channel, it is bifurcated into online and offline. The online segment is expected to dominate the market during the forecast period. Collaborations with celebrities may also help a company become more visible because they routinely share items on Instagram and other key shopping platforms on social media. Over 70% of businesses employ Instagram influencers in their marketing campaigns, and influencer marketing grew by 198% last year. Digital innovation, increasing globalization, and changes in consumer purchasing patterns are causing seismic transformations in the fashion industry. And the fashion sector is even more uncertain as a result of the coronavirus’s accelerated retail crisis. Independent companies are creating high-quality running gear for runners searching for goods that match their demands and their style by utilizing social media marketing and internet shopping.
Regional Analysis of Athleisure Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and Rest of the World. The North America market is expected to hold the majority of the market share in 2022. More Americans than ever before are working from home as a result of the epidemic. As a result, there is a higher demand for athleisure items like sweatpants and pyjamas. According to a consumer survey, 14% of shoppers have bought cosy gear, such pyjamas or athleisure, online since the COVID-19 epidemic began. The National Council of Textile Organisations (NCTO) estimates that the value of industry shipments in 2020 placed the U.S. textile and apparel market at USD 64.4 billion, while USD 25.4 billion worth of fibre, textiles, and clothing were exported from the country.
Major Players
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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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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