Athleisure Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Type, Product, End User, Distribution Channel, and Region.

Athleisure Market Definition:

Athleisure is a trend in which people wear clothes that are specifically made for athletic workouts but can also be worn casually. Athleisure attire has grown increasingly acceptable in a variety of social settings, including the office. The majority of consumers regard activewear to be pleasant and flexible, which can be attributed to the materials utilized to create such clothes or footwear. The most typically utilized materials in such athleisure apparel are synthetic textiles such as polyester and nylon, which combined tend to provide the optimum combination of needed qualities. The global athleisure market is studied and analysed on the basis of type, product, end-user, distribution channel, and region.

 

Athleisure Market Dynamics:

As a result of the lockdown measures, yoga studios, gyms, health clubs, and other sites where in-person group yoga instruction was held were shut down or temporarily closed on a global scale. Sustainability has made its way into the athleisure market, which has been a long-standing fashion trend. Consumers continue to seek out and purchase new things made of sustainable, long-lasting, and high-quality materials, and many companies are seeking to bridge the gap between fashion and innovative-functional designs.

 

During the coronavirus pandemic, customers have been attracted to loungewear such as leggings, pyjamas sets, and other comfortable alternatives. As a result, many brands, such as Old Navy, have rearranged their store layouts to keep up with trends, placing these items just outside the door. The brand has sufficient inventory by offering more fleece hoodies, stretch bottoms, and other items.

 

From The North Face to Levi's to Louis Vuitton, everyone is competing for part of the athleisure market, launching new products in stretchy fabrics that can be worn in running or supermarkets. Kohl's announced its own activewear brand FLX in early 2021, and Target debuted its new workout label, All in Motion, in early 2020. As fitness is becoming more and more important, people between the ages of 16 and 30 are the most active wearers of sportswear. The women's sports market is the fastest growing.

 

                                                                                                                        

 

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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 and appear fit. As a result of this greater engagement, market dynamics have changed, resulting in increased demand for athleisure products.

 

Consumers have shown a willingness to spend more on sportswear with better features such as moisture management, temperature control, and other performance-enhancing characteristics that reduce pain and potential injury. As a result of these improved characteristics, consumers are more likely to wear athletic apparel during their leisure time.

 

The athleisure market will grow as consumer lifestyles evolve, especially in developing countries, with rising disposable income levels and sporty fashion look trends. Increasing participation of working women in domestic sports and fitness activities is also expected to drive the market through the forecast period. The availability of athletic clothing with enhanced properties such as moisture control, temperature control, and other performance enhancing properties to prevent discomfort and potential injuries is more for such additional benefits. It has stimulated the interest of consumers who are willing to pay.

 

In addition, sustainability, a longstanding fashion trend, has permeated the athleisure space. Consumers continue to learn and invest in new items made with high-quality materials that are durable and long-lasting. Many companies are trying to bridge the gap between fashion and innovative functional designs. These factors are driving the demand of the market.

 

Recent Developments:

In September 2021, ASICS Corporation planned to expand its distribution network of 18 stores in 2022 in order to expand its presence in India.

 

In February 2021, Puma Inc launched five new running product lines: Deviate, Deviate Elite, Velocity, Libertate, and Eternity.  Deviate consists of two layers of lightweight NITRO combined with a carbon fiber Innoplate.

 

Athleisure Market Segment Analysis:

 By Type, The mass athleisure type segment dominated the Athleisure Market with a 65% share in 2023. Athletic casual clothing is becoming more widely accepted for use in a range of social settings. Sports-inspired materials like spandex, Lycra, and other synthetic fibers are used in many of the garments that are considered work-appropriate.

 

The premium type segment is expected to grow at a CAGR of 5.3 % through the forecast period. Athleisure brands have been exploring untapped segments in the sportswear market, particularly workwear. Many brands and companies combine trendy workwear with athleisure to offer these products at affordable prices. Some companies are also focused on promoting a healthy lifestyle for consumers in order to create a community of active enthusiasts and thereby increase sales of bulk products. Brands also focus on providing athleisure that suits consumers` daily tastes. These factors are expected to drive the growth of the Athleisure Market through the forecast period.

 

 

By End User, The women segment dominated the Athleisure Market with a 43% share in 2023. Increasing female participation in sports and fitness has the potential to drive segment growth. According to the Sasakawa Sports Foundation, 72 % of Japan's total population plays sports at least once a year. In addition, almost 72% of the country's total female population engages in sports at least once a year. This factor drives the demand for national sportswear and athleisure. Increasing the number of women participating in sports clubs is also expected to drive market growth. Product launches, collaboration, expansion into new markets, and sportswear innovation are also driving the growth of this segment.

 

Athleisure Market Regional Insights:

North America dominated the Athleisure Market with a 33% share in 2023. The region's expanding apparel and textile sector are likely to fuel market expansion. The US textile and clothing market was valued at US$ 92 billion in 2023. The rising awareness about adopting healthy lifestyles, which encourages customers to buy and indulge in fitness/strength activities. These factors are expected to drive the growth of the market in this region.

 

The objective of the report is to present a comprehensive analysis of the Global Athleisure market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Athleisure market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the global market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Athleisure market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the global market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the global market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Global Athleisure market. The report also analyses if the Global Athleisure market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Athleisure market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Athleisure market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the global market is aided by legal factors.

 

Global Athleisure Market Scope:

Global Athleisure Market		Market Segmentation
Market Indicators:	Details	by Type	Mass Premium
Historical Data:	2018-2022	by Product	Yoga Apparels Shirts Leggings Shorts Others
Forecast Period:	2024-2030	by End User	Men Women Children
Base Year:	2022	by Distribution Channel	Online Offline
CAGR:   8 %		by Region	North America Europe Asia Pacific Middle East and Africa South America
Market Size in 2020:	US $ 367.83 Bn.
Market size in 2027:	US $ 630.40 Bn.

 

Athleisure Market Key Players:  

• Adidas AG
• Nike Inc.
• Under Armour Inc.
• New Balance Athletics Inc.
• Columbia Sportswear Company
• ASICS Corporation
• PUMA SE
• VF Corporation
• Lululemon Athletica

     (* Key Players List Not Exhaustive)