New York, US, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), "Athleisure Market Information by Product Type, End-User, Distribution Channel, and Region - Forecast till 2028”, the market is anticipateed to grow at a rate of 10.33% between 2021 and 2028 while touching USD 842.03 Billion by 2028.
Market Synopsis
Athleisure is a combination of comfort as well as the fashion quotient that creates a contemporary clothing style. It is a fabricated type of clothing mostly adorned by consumers during fitness and athletic activities, along with casual wear in offices or at social events.
The rising preference for online shopping among people will favor the athleisure industry. The rise in the number of online distribution channels and their huge preference is noteworthy. On the other hand, the demand for offline distribution channels has gone down to some extent.
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Report Scope:
| Report Attribute | Details |
| 2028 Market Size | USD 842.03 Billion |
| CAGR | 10.33% (2021–2028) |
| Base Year | 2020 |
| Forecast Period | 2021-2028 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Product Type, End-User, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing Fitness-Conscious Population |
| Product Innovation With Growth Of The Apparel Industry |
Market Competitive Landscape:
The affluent companies in the athleisure market include
- Under Armour Inc. (US)
- lululemon athletica (Canada)
- Adidas AG (Germany)
- Hennes & Mauritz AB (Sweden)
- Nike, Inc. (US)
- Puma SE (Germany)
- Eysom (US)
- Outdoor Voices (US)
- Ten Thousand Inc. (US)
- Isaora (US)
August 2022
The renowned fashion brand from Europe for young women ONLY has now entered the athleisure clothing space with the introduction of its latest category known as ‘ONLY PLAY’. ONLY PLAY provides great quality, feminine details and supreme functionality, all combined in an impressive mix of some of the latest sportswear and fashion trends.
Market USP Covered:
Market Drivers:
The rising passion for outdoor recreational activities and sports among the burgeoning youth population has raised the need for a variety of athleisure gear worldwide. One of the leading reasons pushing this trend can be the surging focus on fitness as well as health consciousness, generating a strong demand for fashionable and comfortable clothes.
Furthermore, numerous businesses worldwide are focused on certain activewear product segments and prioritize excellent customer satisfaction. Many businesses are also offering tailored products that cater to every preference and taste of the customers. They also provide professional advice to customers to help them opt for the right things. Sustainability is one of the top fashion trends now and is now a huge aspect of the athleisure sector. Consumers are continually exploring new products that are made of sustainable, high-quality, and durable materials, while many brands are attempting to close the gap between functional and fashion designs.
With fitness becoming extremely important, the older age group is now more interested in athleisure than ever before. They are opting for sporty and athleisure clothing while also focusing on making a fashion statement, especially for ladies. This will be a great opportunity for the renowned brands active in the worldwide market.
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Market Restraints:
Athleisure products are still considered luxury items and are more expensive than regular sports products. The exorbitant price can be a big restraint for market growth in the years to come.
Moreover, the lack of awareness about these items among consumers and their inclination towards cheaper quality and lesser-priced apparel will also negatively affect the worldwide market. The said poor-quality products are not sustainable and can be toxic for the environment, which in turn will be unfavorable for the market.
COVID 19 Analysis
The COVID-19 outbreak’s notable impact has led to various repercussions on the health status of people across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to the loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. Luxury items are considered non-essential, a fact that will be unfavorable for the athleisure market in the years to come.
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Market Segmentation
By Product Type
The major product types are tights & joggers; leggings, sneakers; hoodies & sweatshirts; sports jackets; shorts; yoga pants; sports bra; and more.
By End User
Top end users in the market are women, unisex as well as men.
By Distribution Channel
The key distribution channels in the market are store-based as well as non-store-based. The store-based channels are specialty stores, supermarkets & hypermarkets, and others.
The largest share in the worldwide market is owned by the store-based segment, which can project growth at a rate of 9.83% between 2020 and 2027. Meanwhile, the non-store-based segment will be growing at a higher rate during the same period.
Regional Insights
North America has the biggest share of 34.89% in the worldwide market and holds a valuation of USD 134.75 billion. The North American market will expand at a rate of 9.87% over the forecast period. Europe is positioned second in the market, and holds a value of USD 113.63 billion; and can accrue a CAGR of 10.40% from 2020 to 2027. But the Asia Pacific market will develop at the fastest rate of 10.95% throughout the given period.
North America attained the leading position, garnering the highest share of the global market. The region houses several players that manufacture a variety of athleisure apparel and gear. The US has emerged as a profitable market in recent years, with Canada and Mexico following suit. Robust demand owing to the substantial awareness level and a higher focus on fitness and physical activities adds considerably to the market value in the region.
Asia Pacific is touted to procure the fastest CAGR in subsequent years, thanks to the soaring number of manufacturers catering to the varying preferences and demands of the consumers. The demand is significantly high among the exploding urban population with rising disposable incomes. The growth in the millennial consumer base and surging focus on fitness should also foster the sales of athleisure products in the ensuing years.
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