Global Athleisure Market: Growing passion for sports and rising initiatives by governments around the world to increase sports participation are expected to augment the market at a healthy CAGR of 10.33% during the forecast period of 2021 to 2028.
Research Reports
Jan 10, 2023
Athleisure Market Research Future Insights
According to market research future insights analysis, the global athleisure market is expected to register a CAGR of 10.33% from 2021 to 2028 and hold a value of over USD 842.03 Billion by 2028.
The country’s young people have become increasingly passionate about sports and outdoor recreational activities. One of the main factors influencing this trend is an increase in consumer fitness and health consciousness, creating a need for cozy yet stylish clothing. The COVID-19 epidemic has significantly changed how yoga is practiced worldwide. The lockdown procedures caused a worldwide shutdown or temporary closure of yoga studios, gyms, health clubs, and other places where in-person group yoga instruction was held. Conversely, yoga instructors discovered a way to continue leading classes by immediately switching to online instruction. Customers are willing to pay more for athletic wear with improved characteristics, such as moisture management, temperature regulation, and other performance-enhancing features that reduce discomfort and potential injury.
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Regional Analysis
North America dominated the market for athleisure in 2021. More people than ever before are working from home due to the coronavirus outbreak in the US. Consumers were more inclined to work in athleisure, sweatpants, and pajamas because they didn’t have to dress up for the job. According to the consumer survey, 14% of consumers had bought cozy items, including pajamas or athleisure, online since COVID-19 began. Based on the value of industry shipments, the National Council of Textile Organizations (NCTO) projects that the American textile and clothing market has been worth USD 64.4 billion in 2020, with USD 25.4 billion going toward fiber exports, textiles, and apparel.
Asia Pacific was the fastest-growing region for athleisure. Demand for athleisure goods would increase due to rising health consciousness among the emerging middle class and expanding sporting environments in nations like China, India, Australia, and Japan. Major worldwide brands like Reebok, Adidas, Nike, Puma, and Lotto have historically dominated the athleisure market in the Asia-Pacific region.
Market Segmentation
The athleisure market has been segmented into type, product, end user, and distribution channel.
Based on type, the market has been segmented into mass and premium. The mass segment had a prominent share in 2021. Athletic-casual attire is increasingly accepted in a variety of social contexts. Today’s affluent consumers want more luxury fashion options that are both comfortable and fashionable. On the other hand, the premium segment was the fastest-growing segment during the forecast period. Many work-appropriate garments use sports-inspired materials like spandex, Lycra, and other synthetic fibers.
Based on product, the market has been segmented into yoga apparel (tops, pants, shorts, unitards, capris, and others), shirts, leggings, shorts, and others. Yoga apparel accounted for the athleisure market’s largest revenue share in 2021. This is due to the growing acceptance of yoga as a mind-body exercise. Besides, the legging category was the fastest-growing segment. Because they are versatile and can be worn as both activewear and casual clothing, leggings are a necessary part of athleisure attire.
Based on end users, the market has been segmented into women, men, and children. The women segment had a prominent share in 2021 in the market for athleisure. The market is expanding due to rising participation in fitness clubs and the number of women joining sports leagues. However, the men category was the fastest-growing segment. Market participants also use partnerships and collaborations with athletes, particularly male athletes, to increase demand for athleisure in the men’s category.
Based on the distribution channel, the market has been segmented online and offline. The offline segment accounted had a prominent share in 2021 in the market for athleisure. This is due to advancements in digital technology, growing globalization, and modifications in consumer purchasing patterns; the fashion industry is going through seismic shifts. And the fashion sector is more precarious than ever because of the coronavirus’s accelerated retail catastrophes.
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Key Players
Some key market players are Vuori; PANGAIA; Outerknown; lululemon athletica; HanesBrands Inc.; Adidas AG; Patagonia, Inc.; Wear Pact, LLC; EILEEN FISHER; Under Armor, Inc.
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