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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 is a fashion trend blending athletic and leisure wear, crafted for both workouts and everyday casual use. Key clothing items include leggings, sweatpants, hoodies, sweatshirts, pullovers, joggers, athletic shorts, and yoga pants, focusing on functionality and style. The growing consumer demand for environmentally responsible products is driving brands to use sustainable materials such as organic cotton and recycled polyester, supporting market growth.
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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)
Segmentation:
Mass Segment to Holds its Dominating Position owing to Growing Online Shopping
In terms of type, the market is bifurcated into mass and premium. In 2023, the mass segment held the highest market share and is projected to remain dominant throughout the study period. The growth is driven by rising online shopping, affordable pricing, and a continuous flow of new product designs that encourage frequent purchases.
T-shirt is Leading Athleisure Product Favored by Functionality and Comfort
As per product, the market is classified into sweatpants and t-shirt, hoodies, sweatshirt, and pullovers, yoga pants & leggings, sports bras, sweatpants and joggers, athletic shorts, and others. The t-shirt segment captured the largest athleisure market share in 2023 due to their blend of comfort and functionality. Their stretch, moisture-wicking, and breathable qualities make them a preferred choice for everyday and athletic activities.
Women Segment Leads Owing to Rising Women Participation in Outdoor Activities
By end-use, the market is segregated into men, women, children, and unisex. The dominance of the women’s athleisure segment is driven by more women engaging in outdoor activities and the availability of diverse, stylish options. Market players, including new entrants such as “ONLY PLAY” in August 2022, enhance their offerings with innovation and fashion-forward designs.
Offline Segment Records Largest Share Owing to its Ability to Examine Product Quality
In terms of distribution channel, the market is divided into e-commerce/online stores and offline. In 2023, the offline segment led in market revenue, driven by sporting goods retailers offering diverse athleisure brands and personalized service. The ability to examine product quality and experience a trial fitting enhances consumer satisfaction and drives growth.
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:
Shift in Fashion Preferences to Propel Market Growth
The growing preference for casual and comfortable clothing, fueled by remote and flexible remote environments is driving the expansion of the market. Moreover, the growing social media and influencer culture, with celebrities endorsing versatile athleisure styles, has significantly boosted the popularity of the market.
However, the widespread availability of counterfeit products, replicating premium product designs, negatively impacts brands image and sales, limiting athleisure market growth.
Regional Insights:
North America Dominated the Market Owing to High R&D Investment
North America held the apex position in the market in 2023. The region’s substantial investment in R&D for textiles and sustainability, including the use of ethically sourced materials and low-impact manufacturing, has significantly contributed to the region’s market growth.
In Europe, high awareness of health and wellness, combined with social trends favoring comfort and casual wear, has driven consumers to embrace the product, boosting market growth.
Competitive Landscape:
Key Players Emphasis on Innovations to Enhance Product Visibility
The athleisure market is intensely competitive, with major and local brands focusing on innovation, differentiation, and strategic collaborations. Partnerships and endorsements, such as Nitches’ October 2021 deal with John Lewis, are pivotal for expanding market reach and enhancing product visibility.
Key Industry Development:
March 2022: Puma announced a long-term partnership with Lega Serie A, enhancing its global visibility through one of the most-watched football leagues. This move complements PUMA’s existing LaLiga collaborations.
Browse Detailed Research Report Summary: https://www.fortunebusinessinsights.com/athleisure-market-110642
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