The global athleisure market is driven by rise in number of millennials, increase in participation of consumers in physical fitness activities, and rise in health and wellness trend among the target customers.
PORTLAND, Ore., Sept. 8, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Athleisure Market by Gender (Male, Female ), by Product Type (Sneaker, Joggers, Leggings, Hoodies, Others ), by Distribution Channel (Offline, Online ): Global Opportunity Analysis and Industry Forecast, 2023-2032. According to the report, the global athleisure industry generated $2.0 billion in 2022 and is anticipated to generate $3.2 billion by 2032, witnessing a CAGR of 5.2% from 2023 to 2032.
Athleisure’ has become a buzz word for the fashion industry. Customers who are fashion-conscious, active, fitness lovers, and those searching for comfortable, utilitarian clothing for everyday activities have all found a place in the athleisure sector.
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Prime determinants of growth
The global athleisure market is driven by rise in number of millennials, increase in participation of consumers in physical fitness activities, and rise in health and wellness trend among the target customers. However, growing competition, saturation of trendy designs, and shifting consumer preferences pose restraints for the athleisure market’s sustained growth. Expanding health-conscious consumer base seeks stylish, comfortable athleisure wear for everyday use. A lucrative opportunity for brands to innovate and cater to this growing demand.”
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
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Base Year |
2022 |
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Market Size in 2022 |
$2.0 billion |
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Market Size in 2032 |
$3.2 billion |
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CAGR |
5.2 % |
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No. of Pages in Report |
300 |
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Segments Covered |
Gender, product type, distribution channel, and region |
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Drivers |
Increase in participation of consumers in physical fitness activities Rise in health and wellness trends among the target customers |
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Opportunities |
Rise in promotional activities & initiatives by various organizations |
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Restraints |
Volatile cost of raw materials |
The female segment to maintain its leadership status throughout the forecast period
Based on gender, the female segment held the highest market share in 2022, accounting for around two-thirds of the global athleisure market revenue, and is estimated to maintain its leadership status throughout the forecast period. Female dominance in athleisure market due to rising fitness awareness, fashion-forward trends, and versatile appeal, driving demand for stylish, functional activewear. The male segment is the fastest-growing segment and is projected to manifest the highest CAGR of 5.5% from 2023 to 2032. Men increasingly prioritize fitness and comfort in their daily lives, fueling the rapid growth of the athleisure market as they seek versatile, stylish activewear options.
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The sneakers segment to maintain its lead position throughout the forecast period
Based on product type, the sneakers segment held the highest market share in 2022 and is estimated to maintain its leadership status throughout the forecast period. Sneakers combine fashion and function, offering versatility, comfort, and a lifestyle statement. They’re the ultimate athleisure choice, driving their dominance in the market. The others segment is the fastest-growing segment and is projected to manifest the highest CAGR of 6.3% from 2023 to 2032. Tanks, exercise bras, and moisture-wicking socks are essential for comfort, performance, and style, driving the fastest-growing segment in the athleisure market as active lifestyles surge.
The offline segment to maintain its lead position throughout the forecast period
Based on distribution channel, the offline segment held the highest market share in 2022, accounting for nearly two-thirds of the global athleisure market revenue, and is estimated to maintain its leadership status throughout the forecast period. Offline sales dominate athleisure due to tactile experience, personalized assistance, and instant gratification, fostering consumer trust and brand loyalty in a competitive market. However, online channel is also the fastest-growing segment and is projected to manifest the highest CAGR of 6.0% from 2023 to 2032. The convenience, variety, and accessibility of online shopping are fueling rapid growth in the athleisure market, attracting tech-savvy consumers seeking seamless purchasing experiences.
Europe to maintain its dominance by 2032
The Europe region held the highest market share in 2022, accounting for nearly two-fifths of the global athleisure market revenue, and is estimated to maintain its leadership status throughout the forecast period. Europe’s athleisure market dominance is driven by fashion-forward culture, fitness trends, and a growing preference for versatile, comfortable clothing, fostering innovation and strong consumer demand. However, the Asia-Pacific region is projected to manifest the highest CAGR of 6.3% from 2023 to 2032. Asia-Pacific’s rapid urbanization, fitness trends, and rising disposable incomes drive the fastest-growing athleisure market. High demand for stylish, versatile activewear fuels its expansion.
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Leading Market Players:
- ADIDAS AG
- ASICS CORPORATION
- COLUMBIA SPORTSWEAR COMPANY
- PVH CORP.
- PUMA SE
- VF CORPORATION
- THE GAP, INC.
- NIKE, INC.
- UNDER ARMOUR, INC.
- LULULEMON ATHLETICA INC
The report provides a detailed analysis of these key players in the global athleisure market. These players have adopted different strategies such as new product launches, business expansion, partnerships, mergers, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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