What Is The Overview Of The Global Athleisure Market?
Athleisure refers to a style of clothing that combines elements of athletic wear with casual, everyday attire, emphasizing comfort, flexibility, and functionality, often blurring the lines between gym wear and streetwear. Athleisure garments are typically known for their stretchiness and moisture-wicking properties, making them suitable for physical and leisure activities.
Athleisure Global Market Report 2024 provides data on the global athleisure market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Athleisure market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Expected Annual Growth Rates And Market Size Estimates For The Global Athleisure Sector?
The athleisure market size has grown strongly in recent years. It will grow from $395.44 billion in 2023 to $430.75 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to an increased focus on health and fitness, the rise of e-commerce, urbanization, and globalization, the increase of celebrity endorsements and influencer culture, and changes in lifestyle trends. The athleisure market size is expected to see strong growth in the next few years. It will grow to $592.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increasing sustainability and ethical practices, demand for personalized athleisure wear, the incidence of chronic lifestyle diseases, and market expansion in emerging economies. Major trends in the forecast period include technical advancements, innovation in design and technology, adoption of digital technologies and augmented reality, integration of fashion and technology, and innovations in fabric technology.
Which Factors Are Boosting Growth In The Athleisure Market?
The increasing sports participation is expected to propel the growth of the athleisure market going forward. Sports participation refers to engaging in physical activities or games ranging from recreational pursuits for fun and fitness to competitive sports played at amateur or professional levels, involving physical exertion and skill. The surge in sports participation is due to increased awareness of the importance of physical activity for health and well-being, the availability of more accessible facilities and programs, and initiatives promoting inclusivity and diversity in sports. Athleisure wear is utilized in sports for its comfort, functionality, and versatility, merging the boundaries between athletic and casual clothing. For instance, in September 2023, according to the National Federation of State High School Associations, a US-based organization that governs high school sports and activities, a total of 78.57 million participants competed in high school sports during the 2022 and 2023 academic years, an increase of nearly 240,000 participants and growth of over 3% compared to 2021 and 2022 totals. Therefore, increasing sports participation is driving the growth of the athleisure market.
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What Key Areas Define The Segmentation Of The Global Athleisure Market?
The athleisure market covered in this report is segmented –
1) By Type: Mass, Premium
2) By Product: Yoga Apparels, Shirts, Leggings, Shorts, Other Products
3) By Distribution Channel: Online, Offline
4) By End User: Men, Women, Children
How Are Emerging Trends Reshaping The Dynamics Of The Athleisure Market?
Major companies in the athleisure market are concentrating on developing eco-friendly and multipurpose clothing, such as bio-based elastane activewear, to meet growing demand for sustainable activewear and maximize market profits. Bio-based elastane activewear is made from sustainable materials derived from natural sources, combining functionality with environmental friendliness. For instance, in November 2022, PANGAIA, a UK-based lifestyle products company, launched Activewear 3.0, a new line of plant-based activewear. This range uses 99.99% plant-based EVO Nylon and 30% creora, a bio-based elastane sourced from industrial corn, to create a highly sustainable product. The activewear collection includes four styles in three colorways, designed to merge nature with advanced technologies and sustainable chemicals for enhanced textile performance. The emphasis on eco-friendly clothing like bio-based elastane activewear is expected to drive the athleisure market, with market sizes projected to reach $V billion in 2023, $W billion in 2024, and $X billion in 2028.
Which Region Has The Fastest Expansion In The Athleisure Market?
North America was the largest region in the athleisure market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the athleisure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
