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The global athleisure market size was valued at USD 311.48 billion in 2023. The market is projected to grow from USD 338.48 billion in 2024 to USD 716.05 billion by 2032, exhibiting a CAGR of 9.82% over the forecast period.
Athleisure combines athletic apparel with casual fashion, offering versatile clothing such as sweatpants, leggings, and hoodies. This trend prioritizes comfort, style, and functionality for both active and everyday wear. The pandemic has spurred demand for comfortable, versatile athleisure wear, such as oversized hoodies and leggings that can easily transition from workouts to casual or work-from-home settings.
Despite supply chain disruptions, the COVID-19 pandemic fueled demand for athleisure wear as consumers embraced comfortable, versatile clothing for home and fitness. Brands capitalized on this trend with stylish and functional designs tailored to casual, at-home settings.
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Segmentation:
Premium Segment to Showcase Fastest CAGR due to Rising Spending Power of Consumers
As per type, the market is fragmented into mass and premium. The premium athleisure segment is likely to grow at a fastest CAGR from 2024 to 2032, fueled by increasing consumer spending power and a rising appetite for high-end fashion in developing economies such as China, Brazil, and India.
Sweatpants and Joggers Segment to Display Fastest CAGR due to Growing Trends for Hip-Hop
In terms of product, the market is fragmented into t-shirt, hoodies, sweatshirt, and pullovers, yoga pants & leggings, sports bras, sweatpants and joggers, athletic shorts, and others. The sweatpants and joggers segment is set to grow at a fastest CAGR, driven by fitness and hip-hop cultural trends. Their comfort, fit, relaxed, and advanced features such as moisture wicking and four-way stretch make them popular for both streetwear and innerwear.
Men Segment to Record Rapid Growth due to Availability of Wide Range of Stylish Clothing
On the basis of end-use, the market is segregated into men, women, children, and unisex. The men segment is set to grow at the fastest CAGR during the forecast period, driven by the diverse range of stylish clothing that caters to both fashion and performance. This expansion reflects men’s desire for fashionable yet functional apparel for various physical activities.
Offline Segment Dominates Owing to Personalized Services Provided by Retailers
On the basis of distribution channel, the market is fragmented into e-commerce/online stores and offline. The offline segment captured the highest revenue share in 2023, due to the extensive brand selection and personalized service offered by retailers.
In terms of region, the market is categorized into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report offers:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into regional developments.
List of major industry players.
Key strategies adopted by the market players.
The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers and Restraints:
Growing Trend of Health and Wellness to Boost Market Growth
The increasing focus on health and wellness is driving demand for such products that cater to fitness-conscious consumers, seamlessly transitioning from workouts to daily activities. Moreover, as consumers prioritize active lifestyles, they seek apparels that offer comfort and functionality, contributing to the strong expansion of the market.
However, local manufacturers units producing cheaper imitations of high-quality athleisure wear lead to revenue losses for original brands, hindering athleisure market growth.
Regional Insights:
North America Holds Leading Position Owing to U.S. Market Influence
North America recorded a revenue share of 37.53% in 2023 and captured the key athleisure market share. The U.S. plays a crucial role in the regional market, driven by extensive spending on sustainable practices and innovative textiles, which positively impacts overall market performance.
The presence of major product brands such as PANGAIA and Adidas AG in Europe enhances industry growth by offering a diverse range of products that cater to the region’s evolving consumer preferences.
Competitive Landscape:
Industry Participants Focus on Collaborations to Boost their Market Reach
The global athleisure market is highly competitive, featuring numerous renowned and domestic players. Key strategies include product innovation, differentiation, and strategic partnerships, including mergers, and acquisitions. Collaborations with celebrities such as Nitches partnership with John Lewis, in October 2021, help brands reach broader audiences and boost new product launches.
Key Industry Development:
October 2023: Bata India launched its Power Acti-Wear collection, featuring t-shirts, shorts, and tracks designed for comfort and style. The range incorporates advanced technologies such as Acti-Vent and Feather Tech to blend functionality with contemporary fashion.
List of Key Players Mentioned in the Report:
Lululemon Athletica Inc. (Canada)
Adidas AG (Germany
Under Armour, Inc. (U.S.)
Hanesbrands Inc. (U.S.)
EILEEN FISHER (U.S.)
Vuori (U.S.)
Outerknown (U.S.)
PANGAIA (U.K.)
Wear Pact, LLC (U.S.)
PUMA SE (Germany)
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