Wilmington, Delaware, United States, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global activewear market was estimated to have acquired US$ 412.3 billion in 2022. It is anticipated to register a 6.3% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 714 billion.
Product development innovation is a major driver of market growth. Global manufacturers are diversifying their product offerings to address the needs for garments for a wide range of age groups and lifestyles. Sales of activewear are increasing as a result of the changing lifestyles of people and greater purchasing power. Products that are lightweight, cozy, and fashionable are becoming more and more popular with customers.
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An increasing number of businesses are attempting to close the gap between fashion and innovative, utilitarian design due to consumer preferences for new items built from high-quality, long-lasting, and sustainable materials.
Global Activewear Market: Key Players
Manufacturers are implementing several methods in the global market for activewear in order to increase their profitability. They concentrate on high-performance and ecological fabric developments to satisfy changing consumer needs. Employing direct-to-consumer and e-commerce channels helps businesses cut expenses and boost profit margins.
Partnering with athletes and fitness influencers increases brand awareness. Constant market research aids in adapting product offers to shifting consumer preferences. Efficient supply chain management and cost-effective production further aid profit maximization. In this cutthroat market, diversifying into developing nations where people are becoming more health-conscious is another way to increase sales. The following companies are well-known participants in the global activewear market:
- INX International Ink Co.
- Toyo Ink Co., Ltd.
- Sun Chemical
- Cabot Corporation
- Siegwerk Druckfarben AG & Co. KgaA
- Wikoff Color Corporation
- Marabu GmbH & Co. KG
- Nutec digital Ink
- Nazdar
- Kornit Digital
Key Findings of Market Report
- The growth of the global market is being driven by an increase in social media platforms and fitness influencers.
- The e-commerce sector's expansion is driving up demand for sportswear.
- In an effort to grow their consumer base, a number of sports and athleisure clothing companies are collaborating with fitness celebrities on social media and e-commerce sites.
- Customers' comfort is a top priority for manufacturers producing items for the global market.
- During the projected period, product innovation is anticipated to be a crucial element driving the global market.
Market Trends for Activewear
- In 2022, the women consumer group category held a substantial part of the global market. Over the course of the projected period, this section is probably going to rule the global industry.
- The primary reason for the segmental expansion is the growing inclination of women towards fashionable sportswear. The sportswear industry is expanding due to a number of advantages, including as breathability, quick-drying qualities, antistatic qualities, heat resistance, as well as chemical resistance. The growing interest of the female consumers in sports and fitness as well as their increased health consciousness are driving the market.
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Global Market for Activewear: Regional Outlook
Various reasons are propelling the growth of the activewear market in different regions. These are:
- In 2022, North America had a significant revenue share. This is mostly because fashionable sportswear is becoming more and more popular in the area. One of the major elements that is expected to support the activewear industry statistics in North America over the projected period is the existence of important rivals in the market, such as Nike, Inc. as well as Adidas Group.
- The region's growing health consciousness and the growing appeal of sports like basketball and soccer are anticipated to fuel market expansion. Several important factors driving market expansion in the region include rising living standards, falling production costs, and rising consumer disposable income.
- The growing consumer demand for trendy activewear is likely to fuel growth in the Asia Pacific activewear market over the course of the forecast period.
Some key developments by the players in this market are:
| Company name | Key Developments |
| ASICS Corporation | The future of Web3 commerce is portrayed in the Asics X Solana UI line, which ASICS Corporation unveiled in November 2022. The purpose of this collection's launch was to increase the company's product line and provide a broad selection of cutting-edge goods to its clientele. |
| Nike, Inc. | Nike, Inc. introduced the new Air Max Scorpion Sneakers in October 2022. The company is seeing incremental growth potential as a result of its revolutionary design. The corporation introduced the product to increase total sales and profit margins while reaching out to new markets. |
Global Activewear Market Segmentation
- By Product
- Clothes
- Upper-body
- Lower-body
- Others
- Footwear
- Accessories
- Hairbands
- Helmets
- Others
- Clothes
- By Price
- Below US$ 30
- US$ 30 - US$ 100
- Above US$ 100
- By Consumer Group
- Men
- Women
- Kids
- By Application
- Gym
- Sports
- Swimming
- Others (Yoga, Gymnasium, etc.)
- By Distribution Channel
- Online
- Company-owned Websites
- E-Commerce Websites
- Offline
- Hypermarkets/Supermarkets
- Specialty Stores
- Other Retail Stores
- Online
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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