Fort Collins, Colorado, Oct. 12, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the athleisure market was valued at USD 319.9 Billion in 2022 and is expected to reach USD 844.9 Billion by 2032 at a CAGR of 10.3%.
Emerging fitness awareness and growing demand for sportswear in the fashion industry have driven the market growth. The main key driver is the increased participation of people in fitness activities like yoga and gym. For instance, according to The International Health, Racquet & Sportsclub Association (IHRSA), between 2010 and 2019, around 6.7 billion Americans visited health clubs, up to 45% from 4.6 billion. As a result, it increased demand for athleisure products in the past three years. Moreover, according to True Fit’s Fashion Genome, orders for athleisure have jumped about 84% since the pandemic's start.
Millennial being the potential customers creates the demand for multi-functional designs. This creates an opportunity for marketers to expand their scope of innovation in athleisure accessories like sneakers, baseball caps, dresses, and hoodies. This enables marketers to invest more in R&D and adopt the latest technologies. For instance, sublimation printing technology can facilitate cost-effective and high-definition graphics printing.
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Segmentation Overview:
The global athleisure market has been segmented into type, product, distribution channel, end-user, and region. The shirts segment dominated with a high market share in 2022. Introducing various performance-enhancing technologies, such as sweat-controlling materials, has propelled the market growth. North America accounted for the high market share in revenue, being the leading region in the athleisure market. Global shifts, owning to the pandemic period toward a rise in health trends and work-from-home culture led to the demand for comfortable clothes.
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Athleisure Market Report Highlights:
- The global athleisure market growth is anticipated at a CAGR of 10.3% by 2032.
- The growing popularity of indoor activities due to work-from-home norms and rising awareness about fitness and leisure drives the Athleisure market.
- The women segment has dominated the global market. Fitness-conscious appearance and technological innovations in women's apparel, such as antibacterial, durable, more flexible, and washable apparel, have propelled the market demand.
- Yoga apparel is projected to show the fastest growth during the forecast period. The increasing popularity of yoga renders the demand for yoga apparel as it meets consumers' needs for comfort, fitness, and style.
- Some prominent players in the athleisure market report include Nike, Hanes Brands, Inc., Adidas AG, Vuori, PANGAIA, Under Armour, Inc., Outerknown, EILEEN FISHER, Patagonia, Inc., Wear Pact, LLC, and Lululemon Athletica.
Industry Trends and Insights:
- Nike launched AeroReact apparel, which can maximize breathability by sensing moisture vapour. Lululemon partnered with Genomatica to launch a plant-based nylon T-shirt as a part of its completely sustainable business by 2030.
- According to a Pew Research Center survey in 2022, about 35% of the workforce follows the work-from-home model. This is attributed to a high demand for fitness apparel due to the rise in home fitness.
- Lululemon collaborated with Roksanda Fw20, best known for its yoga pants, to expand its ambit from sportswear and yoga apparel to high fashion limited edition.
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Athleisure Market Segmentation:
- By Type: Mass athleisure, premium athleisure
- By Product: Yoga apparel, shirts
- By Distribution Channel: Online, offline
- By End-use: Women, children
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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