The global athleisure market size was valued at USD 288.84 Billion in 2021 and is expected to grow at a CAGR of 8.2% during the forecast period.
The demand for athleisure products is increasing due to the development of e-commerce trading activities across the globe. In addition, the utilization of better-quality raw materials increases production capacities, and growing expenditures on the R&D activities for discovering the most suitable materials based on consumer preference may also contribute to the athleisure market demand. Moreover, integration of the technology into the manufacturing processes and rising focus on the improvement of the lightweight materials and fabrics by the leading players in the industry are further foremost factors that act as a catalyzing factor for the athleisure market development over the coming years.
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The outbreak of COVID-19 exhibits the downfall in the global industries owing to the considerable gap between the supply chain and manufacturing units. Various retailers, brands, and manufacturers need to shut down their businesses because of government stringent social distancing policy and implementation of lockdown in several regions. This leads to the unavailability of raw materials across the manufacturing sector. Accordingly, it also shows a decline in outdoor sporting and gyming activities that slow down the growth.
Moreover, due to this disruption, the major exporter of apparel & clothing, like India and China, were not proficient in dynamically contributing to the business operational activities with other regions. Thereby, after the gradual opening of the industries, athleisure wear manufacturers are actively participating in overcoming the impact of this pandemic. Therefore, the demand for athleisure clothing is likely to grow due to rising concerns regarding health in this period. Hence, long-term market demand is influenced by the restructuring of the marketing policies and strategic developments by the competitors, which, in turn, boost the athleisure market trends growth over the forecast period.
The growing influence of social media and innovative marketing strategies is the major driving factor that is propelling the athleisure market growth worldwide. The rising social media trend has shifted the business environment by structuring new opportunities for market players. Social media offers potential prospects for branding and product launches as it associates with both consumers and marketers. The frequent posts of blogs, videos, and pictures on various social networking sites such as Instagram, Twitter, Facebook, and YouTube may catalyze athleisure products demand.
Companies are also opting for social media platforms for sponsoring their brands and building relationships with consumers by presenting unique recommendations and offers. Social media plays a significant role in propelling the demand for athlete wear, majorly among the youth population actively using social media platforms. Accordingly, the constant growth of social media content regarding clothing style and athleisure supports the market demand.
Thereby, blogs posted on social media platforms to encourage athleisure brands, activewear, and athlete wear vastly influence the market growth. Besides, these platforms also create scope for the small brands to form tight-knit communities on the forum. Hence, social media plays a significant role in market growth as it is the most efficient interactive strategy. It facilitates brands to create a bond with the customers globally.
The market is primarily segmented on the basis of type, product, end-use, distribution channel, and region.
By Distribution Channel
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The shirts segment accounted for the largest revenue share of global sales in 2021. Factors such as increasing acceptance of shirts in the working environment and the growing number of females and the male working population may attribute to the segment growth.
Furthermore, numerous companies are also investing in R&D activities to focus on consumer demand and explore new materials to offer more comfortable yet lightweight shirts. Therefore, these factors may create lucrative segment growth around the world.
The yoga apparel segment is expected to show the highest CAGR in the upcoming years, owing to the rising popularity of yoga as a mind-body fitness activity among the population. In December 2020, the overall number of yoga enthusiasts across the United States was around 36 billion and 300 billion worldwide.
The widespread of COVID-19 has eventually changed the landscape of yoga globally, as the implementation of lockdown led people to exercise at home. Thus, these may further support the segment growth. Moreover, the growing participation of women in sports and outdoor activities also creates a lucrative opportunity for the segment over the forecast period.
The offline distribution channel segment is the leading segment in terms of revenue in 2021 due to the presence of various retail stores across the globe. Numerous people tend to purchase athleisure products by offline distribution channels as these stores provide a vast collection of alternatives in terms of material type and color.
The primary significance of the offline distribution channel is that consumers can physically inspect the products and various on-field professionals on the store floors have the ability to suggest the best option as per the consumers' needs and preferences. Therefore, end-users can quickly determine the size and quality of the athleisure at offline stores. Hence, these numerous advantages of the offline distribution channel may create lucrative segment growth globally.
The online distribution channel segment is estimated to show the highest CAGR in the forecasting period. The fashion business is rapidly shifting towards digital platforms due to the increasing modernization and shifting behavior of consumers' purchasing habits. Additionally, the rising influence of the celebrities' promotional, social media marketing, online engagement campaigns, and influencer programs attributes to the industry growth.
Independent traders are promoting the adoption of online purchasing and social media marketing to encourage high-quality gear. Furthermore, the COVID-19 pandemic also accelerated the adoption of e-commerce trading, which may further foster industry development.
North America was the largest contributor to the global revenue of athleisure in 2021. The expansion of the apparel & textile industry in the region is majorly attributed to the market development. As per the National Council of Textile Organizations, in 2018, the U.S. textile and apparel industry accounted for USD 70 billion when evaluated by the assessment of industry shipments.
Moreover, the United States is one of the prime regions that is majorly investing in the research & development of textiles and decent apparel fabrics manufactured by utilizing low-impact processes, such as recycled nylon and organic cotton. Therefore, these are some prominent factors that lead to the dominance of the industry for athleisure worldwide.
Moreover, the Asia Pacific is the second-fastest-growing region globally in the upcoming years. Due to factors such as the presence of a large number of millennials and the Gen Z population, which are more involved in working and athletic activities, the demand for athleisure is high in the region.
In addition, growing awareness for the healthy lifestyle, increasing female working population, and rising number of health and wellness activities are some factors attributing to the growing demand for athleisure products. Moreover, the emergence of the leading market players such as Nike, Alo Yoga, Under Armour, etc., in the Asia Pacific may act as a catalyzing factor for the regional industry growth for athleisure over the forecast period.
Some of the major players operating in the global industry for athleisure include Hanes Brands, Inc., Lululemon Athletica, Adidas AG, Wear Pact, LLC, Under Armour, Inc., Vuori, Patagonia, Inc., PANGAIA, Eileen Fisher, and Outerknown.
Market size value in 2021
USD 288.84 Billion
Revenue forecast in 2029
USD 542.24 Billion
8.2% from 2022 - 2029
2017 - 2020
2022 - 2029
Revenue in USD billion and CAGR from 2022 to 2029
By Type, By Product, By Distribution Channel, By End-Use, By Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Hanes Brands, Inc., Lululemon Athletica, Adidas AG, Wear Pact, LLC, Under Armour, Inc., Vuori, Patagonia, Inc., PANGAIA, Eileen Fisher, Outerknown and others.