Athleisure Market Overview
By 2030, the Athleisure Market is projected to expand by 10.33 percent and reach USD 8,33,199.16 million in revenue. Athleisure is the term for athletic apparel used in non-athletic settings. Although it is no longer just for exercising, athleisure has developed into a fashion trend of "athletic-look" apparel or clothing made for workouts and other athletic hobbies.
Athleisure apparel demand is anticipated to increase as interest in sports and outdoor recreation increases. Additionally, a few businesses focus on particular sporting product categories and offer tailored gear that is best suited to people. Sportswear with improved features, including temperature regulation, moisture management, and other performance-enhancing qualities that lessen discomfort and potential damage, has demonstrated that consumers are prepared to pay more for it. With the unprecedented epidemic, working from home has become highly popular among the general public. After gyms and exercise facilities closed during the lockdown, emphasis was placed on finding new methods to stay active. Yoga has seen an increase in popularity in 2021, and this trend is predicted to continue. This change has led to a rise in athleisure market demand on a worldwide scale.
Additionally, sportswear has developed into a luxurious status symbol that denotes an active way of life. It is especially well-liked among fashion enthusiasts who are prepared to spend money to stay current with trends. Women's activewear, including bottoms, one-pieces, tank tops, crop tops, and shorts, is connected with around 60% of the athleisure businesses.
Key Players of the market:
Under Armour Inc. (US), Lululemon Athletica (Canada), Ten Thousand Inc. (US), Isadora (US), Adidas AG (Germany), Puma SE (Germany), Epsom (US)Nike Inc. (US), Outdoor Voices (US), Hennes Mauritz AB (Sweden) are key athleisure market players
Market segmentation:
Based on the Product Type The worldwide athleisure market has been divided into many product categories, including leggings, tights, and joggers; hoodies, sweatshirts, shoes, shorts, sports jackets, sports bras, and yoga pants; and others.
Based on end-user The worldwide athleisure market has been divided into male, female, and unisex segments based on end users. Over the projected period, the women's sector is anticipated to have the greatest CAGR.
According to the distribution channel, the worldwide market has been divided into store-based and non-store-based segments. Supermarkets hypermarkets, specialty shops, and others make up the store-based section. This anticipates displaying a CAGR of 9.83% during the forecast period.
Regional Evaluation
The North American, European, Asian-Pacific, South American, Middle Eastern, and African regions make up the majority of the worldwide athleisure market.
With a market value of USD 134.75 billion in 2020, North America held the greatest athleisure market share of 34.89%; the market is anticipated to grow at a CAGR of 9.87% over the forecast period. With a market value of USD 113.63 billion in 2020, Europe was the second-largest region; a CAGR of 10.40% is anticipated. The market in Asia-Pacific is anticipated to grow at the highest CAGR of 10.95%, though.
Numerous factors are projected to contribute to the growth of the North American market. One of the key drivers of the athleisure market's growing growth throughout the forecast period is the expanding engagement in various sporting activities. Furthermore, an increase in involvement in gyms and exercise facilities is largely due to greater health consciousness and the drive to seem fit.
During the projected period, the Asia-Pacific market is anticipated to have the greatest CAGR, at 10.95%. The rising millennial population in Asia-emerging Pacific economies, the market for athleisure's growth among consumers who are more conscious of fitness, the region's rapid urbanization, and the region's rising per capita disposable incomes are all factors contributing to the athleisure industry's expansion.
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