
Athleisure market was assessed at $175.4 billion in 2021 and is estimated to reach $247.3 billion by 2026, developing at a CAGR of 6.7% over the conjecture period from 2021 to 2026.
Athleisure is the trend of wearing specially designed sports training clothing that is now applicable to both gym-goers and casual wear. Sportswear is increasingly acceptable in a variety of social settings, including in the workplace. Most consumers find sportswear to be comfortable and flexible, which is attributed to the type of material used to design the clothing or footwear. Synthetic fabrics such as polyester and nylon are the most common materials used in this sportswear, which together tend to provide the best combination of properties required.
Online platforms, including social media, Facebook, Instagram, and YouTube, play a critical role in influencing consumer preferences. In addition, celebrity endorsement has a huge impact on the fashion industry as celebrities have a large following on social media which is likely to boost online sales of sportswear over the foreseen period. Additionally, companies like Adidas, Nike and Puma are launching their exclusive online websites, where customers can directly purchase genuine products.
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Athleisure Market Growth and Trends:
The rising trend in health and wellness is one of the major influencing factors that have driven the growth of value sales for the global athleisure market. Consumers all over the world seriously consider their physical activity when engaging in various sports and physical activities. Therefore, the fitness industry is highly promoted among these target segments. On the other hand, different fitness influencers have been promoting active clothes that have caught the attention of target customers. This spawned a sports cult, with athletic clothing worn on catwalks, social gatherings, and to gyms.
Athleisure Market Drivers and Restraints:
The demand in the global athleisure market is majorly supported by increasing disposable income, technical innovations in clothing, and growing product awareness through social media and celebrity branding. In addition, the surge in the health-conscious population opting for performance and comfort clothing is likely to further drive the growth of the athleisure market. In addition, extensive research and development into the development of advanced fabrics with high tensile strength and durability would further strengthen the market in the years to come.
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Athleisure Market segmentation:
The global athleisure market size is segmented based on the product type, gender, distribution channel, and region.
- According to the type of product, the market is categorized into sneakers, joggers, leggings, hoodies, and others. Among these subsegments, the apparel segment represents a higher value athletics market share. Sportswear is gaining popularity among your target customers, which is mainly due to its aesthetic and comfort factors. This has led to a gradual increase in the trend to wear sportswear to social gatherings or even what is considered casual wear. Additionally, athletics is increasingly accepted in the workplace.
- Based on gender, the athletics market is segmented into men and women. Among these subsegments, the male segment represents a higher value share. When it comes to clothing, men are looking for clothes that are comfortable for them and that, at the same time, look good overall. Athleisure product offerings and features meet these requirements. Among the male population, some of the sportswear, such as bomber jackets, casual pants, round neck sweaters, polo shirts and others, have gained popularity in the last two years. Thus, the uniqueness of athleisure style and comfort is one of the main factors responsible for the demand for the product among the male population.
- According to the distribution channel, the market is segmented into online and offline channels. Among these, sales through the offline channel represent a higher value athleisure market share.
Regional Analysis:
According to the regions, the market is analyzed in North America, Europe, Asia-Pacific, and LAMEA (Latin America and the Middle East, and Africa).
Of all these, the North American and European nations are the major contributors to the global athleisure market, owing to the consumer awareness related to fitness and a healthy lifestyle. The higher disposable income and availability of world-class products are supporting the expansion of the business in these areas. Nonetheless, the increasing marketing strategies and advertisements are promoting the sales of sportswear in the Asia Pacific and LAMEA nations. The rise in the number of gym-goers is likely to boost sales in the athleisure market in the coming years.
Impact of COVID-19 on Athleisure Market:
Although the athleisure market has witnessed a slump with the closure of gyms and fitness centers during the lockdown period to curb the spread of the coronavirus market, it is predicted the industry will bounce back than expected with the increased awareness related to fitness and healthy living among the global population. There is an expected increase in gym memberships post COVID-19, which is supposed to promote demand in the athleisure market.
Key market players:
The top players featured for the global athleisure market are Puma, Nike, Under Armor, Adidas, Lululemon Athletic, Asics Corporation, Columbia Sportswear Company, Gap Inc., North Face, Phillips-Van Heusen Corporation, and others.
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