Athleisure Market to see Rapid Growth by 2028
The global market for athleisure is projected to have a considerable CAGR of around 8.7% during the forecast period. Athleisure is defined as a mix of athletic and informal leisure activities, and it is a popular category as it taps into several broad trends. Consumers are increasingly incorporating sports and fitness activities into their everyday routines as their health and self-consciousness improve, as well as their desire to live active lifestyles. This increased participation has led to a change in market dynamics, leading to an increased demand for athleisure products. Moreover, the athleisure market is also expected to rise as consumer lifestyles evolve, particularly in developing countries, as a result of rising disposable income levels and the adoption of sporty attractive looks. Furthermore, a long-standing fashion trend, sustainability, has made its way into the athleisure industry. Consumers continue to seek for and buy products that are made of environmentally friendly, long-lasting, and high-quality materials.
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The COVID-19 pandemic has had a significant impact on the market. Consumer expenditure for athletic clothing and footwear has dropped, according to brands such as Adidas, Nike, and Puma, as customers cut down or delayed discretionary expenditure in response to the effects of COVID-19, owing to higher unemployment rates and lower consumer confidence. Furthermore, decreasing retail traffic as a result of store closures, reduced operation hours, and social distancing regulations all have an impact on market growth. For instance, Nike's operations were disrupted during Q4 2020, when about 90% of its NIKE Brand stores in North America, EMEA, and APLA, excluding Korea, were closed for almost 8 weeks.
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· Market Coverage
· Market number available for – 2022-2028
· Base year- 2021
· Forecast period- 2022-2028
· Segment Covered- By Source, By Product Type, By Applications
· Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
· Inc., and others
Market Segmentation
Global Athleisure Market by Product Types
o Clothing
o Footwear
Global Athleisure Market by Distribution Channel
o Offline Stores
o Online Stores
Global Athleisure Market by End-User
o Men
o Women
o Kids
Regional Analysis
o North America
o US
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o ASEAN
o South Korea
o Rest of Asia-Pacific
o Rest of the World
Company Profiles
o Adidas AG
o ASICS Corp
o Columbia Sportswear Co
o Corporation
o Eileen Fisher
o Gap Inc.
o Hanes Brands, Inc.
o Hennes & Mauritz AB
o Lululemon Athletica Inc
o New Balance Athletics Inc.
o Nike Inc.
o Outerknown
o Patagonia, Inc.
o PUMA SE
o Ten Thousand, Inc.
o TEREZ
o The North Face
o Under Armour Inc.
o Vuori, Inc.
o Wear Pact, LLC
The Report Covers
- Market value data analysis of 2022 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Athleisure market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying 'who-stands-where in the market.
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