Activewear Market

Activewear Market Overview:

Activewear market was valued at $ 351,164 million in 2017, and is expected to reach $ 546,802 million by 2024, registering a CAGR of 6.5 % from 2018 to 2024. North America dominated the global activewear market in 2017, accounting for 42.3% of the total revenue. Activewear is a utility apparel, which enhances the performance of athletes during sports or fitness physical activities by improving the body movement as compared to regular clothes. Moreover, most of the activewears are useful to prevent muscle sprains and other ligament & muscle-related injuries, owing to the adequate fitting and proper support provided by these apparels. In addition, unique advantages of activewear such as breathability, quick drying, static resistance, thermal resistance, and chemical resistance boost their adoption among consumers, thereby propelling the market growth.
 

Increase in disposable income and rise in fitness consciousness customers fuel the growth of the global activewear market. In addition, upsurge in participation of the youth and old population in physical activities propels the demand for the sports-related products, thereby driving the market growth. However, rise in number of counterfeit products is leading to safety & quality issues for consumers and brand damage for key market players. For instance, In January 2018, Nike identified counterfeit activewear products worth more than $ 50,000 at Dulles International Airport in Virginia. These issues are leading to declining sales of the key activewear market players, which is adversely affecting the overall growth of the market. Moreover, volatile cost of raw materials and high cost of designing lead to high cost of the final product. Thus, high cost of activewear is resulting into declining sales among price-sensitive consumers. On the contrary, many organizations such as women’s sports foundation, Boxgirls, Feminist Majority Foundation, and others are taking women empowerment initiatives and running campaigns to promote sports participation, which is anticipated to provide growth opportunities for the activewear market. Moreover, increase in use of green textile and manufacturing of activewear using sustainable methods is expected to drive the growth of the market in the near future.

The report segments the global activewear industry on the basis of product, fabric, and geography. Based on product, the market is categorized into ready to wear; fashion outer, pants, & t-shirts; rash guard, wet suit, & swim wear; shoes (sports shoes, aqua shoes, aqua socks); and fashion brand. By fabric, it is classified into polyester, nylon, neoprene, polypropylene, spandex, cotton, and others (rayon and lyocell). Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
 

North America dominates the global activewear industry, owing to rise in trend of athleisure wear as office and casual wear. The European activewear market is growing exponentially, owing to high popularity of sports events, which lead to increased participation and high demand for fashion outer t-shirts and other activewear by the fan base. Asia-Pacific is expected to witness the highest growth rate from 2018 to 2024, due to increase in concerns towards health & wellness and rise in participation of youth population in sports activities. Improvement in living standards and rise in disposable income are expected to boost the growth of activewear market in LAMEA region.

The fashion outer, pants, & t-shirts segment generated the maximum revenue in 2017, due to high requirement of activewear to engage in fitness or sports activities. However, the ready to wear is expected to grow exponentially, owing to increase in trend of athleisure as a casual wear among the youth population across the world.

Demand for polyester segment by fabric is increasing, owing to extensive advantages of this fabric such as easy drying, adequate stretch ability, easy wash, resistance to abrasion & shrinkage, wrinkles resistance, and chemical resistance.

Major players in activewear market are Adidas AG, Asics Corporation, Columbia Sportswear Company, Dick's Sporting Goods, Inc. Gap Inc., Nike, Inc., North Face, Inc., Phillips-Van Heusen Corporation, Puma Se, and Under Armour, Inc.

Other prominent players in the market include 2XU Pty Ltd, 361 Degrees International Limited, Vie Active, LLC, Bike Athletic Company, Everlast Worldwide Incorporated, Sportika SA, Hongxing Erke Sports Goods Co., Ltd, Webb Ellis Ltd., Prince Global Sports, LLC, and Reusch International SPA.

Key Benefits

• The report provides an extensive analysis of the current & emerging market trends and opportunities in the global activewear market.
• The report provides detailed qualitative and quantitative analysis of current trends and future estimations that assists to evaluate the prevailing market opportunities.
• Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
• Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
• The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

 Activewear Market Report Highlights