Report Code: A05772 | Pages: 245 | Oct 2019 | 47832 Views | ||
Author(s) : Abel T , Roshan D | Tables: 130 | Charts: 66 |
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Request Now !The athleisure market size was valued at $155.2 billion in 2018 and is expected to reach $257.1 billion by 2026, registering a CAGR of 6.7% from 2019 to 2026.
Athleisure is the trend of wearing cloths specifically designed for athletic workout which is now applicable for gym goers as well as casual wear. Athleisure wear has become increasingly acceptable to be worn in various social environment even at workplaces. Most of consumers find active wear comfortable and flexible which is attributable to the kind of material used to design such apparels or footwear. Synthetic fabrics such as polyester and nylon are the most commonly used materials in such athleisure apparels, which altogether tend to provide the best combination of the required properties. As per the CBI report, the global sports and fitness clothing market is expected to be valued at US$231 billion by 2024. Though performance sportswear accounts to higher value share, athleisure segment is expected to grow at significant rate in terms of value sales.
The rise in trend of health and wellness is one of the key influential factors that has been driving the value sales growth for the global athleisure market. Consumers around the globe have been taking their fitness activity into serious consideration by indulging themselves in various sports and fitness activities. Thus, fitness industry is highly being promoted among these target segments. On the other hand, different fitness influencers have been promoting active wear that has caught the attention of target customers. This has bought an athleisure cult, with active wear being worn on runways, social gathering as well as gyms.
The global athleisure market size is segmented on the basis of product type, gender, distribution channel, and region. Based on product type, the athleisure market is classified into sneaker, joggers, leggings, hoodies, and others. Based on gender, the market is segmented into male and female. By distribution channel, the market is divided into online and offline. Based on region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, Spain, UK, Italy, France, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).
Based on gender, the athleisure market is segmented into male and female. Among these sub segments, the male segment accounts to higher value share. When it comes to apparel, men desire for clothing which are comfortable for them and at the same time looks good overall. Athleisure product offerings and features caters to such requirements. Among the male population, some of the athleisure apparels such as bomber jackets, casual trousers, crew-neck sweaters, polo-shirts, and others have been gaining higher traction in the couple of years. Thus, athleisure’s specific feature of style and comfort is one of the key factors responsible in driving the demand for the product among the male population.
Based on product type, the athleisure market is segmented into clothing and footwear. Among these sub segments, the clothing segment accounts for higher value athleisure market share. Athleisure apparels have been gaining higher level of traction among its target customer, which is mainly attributable to its aesthetic as well as comfort factors. This has resulted in gradual rise in trend of wearing athleisure apparels in social gatherings or even considered as a casual wear. Moreover, athleisure is now increasingly being accepted in work environment. A lot of employees consider wearing comfortable tees and athletic shoes in offices. Thus, the comfort factors facilitated by athleisure apparels, is one of the key reasons behind driving the demand for clothing segment in global market.
Based on distribution channel, the market is segmented into online and offline channel. Among these distribution channels, sales through offline channel accounts for higher value athleisure market share. These stores facilitate variety of options in apparels and footwear promoting both branded and private-labelled segments. Customers always prefer to have trail on these products even before purchasing it and offline store facilitates and caters to such requirements of the customers. Moreover, these kind of stores initiate several key promotional and marketing events such as customer loyalty programs, discounts, seasonal offers, and others.
Based on region, the athleisure industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominates the global market. According to the US Census Bureau, millennials are currently the largest demographic in the U.S. During the athleisure market forecast, the number of millennials is expected to increase to 75%. For this set of demographic sector, health and wellness is a daily, active pursuit. Owing to their healthy lifestyle, they tend to indulge and represent themselves in the world of fitness. Athleisure product offerings in turn help cater to these target customer requirements. They find athleisure apparels as well as footwear flexible and comfortable due to which they consider wearing it as a casual wear. This has resulted in higher level of demand for athleisure products in North America. Taking in account to customers’ preference for athleisure products, some of the key players in the global market have been making important investments in the region. Manufacturers such as Under Armour, Nike, Adidas, Texollini and other such play a pivotal role in contributing to overall revenue growth of the North American market.
Key players profiled for market in the report include Puma, Nike, Under Armour, Adidas, Lululemon Athletic, Asics Corporation, Columbia Sportswear Company, Gap Inc., North Face, Phillips-Van Heusen Corporation and other such.
Athleisure Market Report Highlights
Aspects | Details |
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By Gender |
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By Product Type |
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By Distribution Channel |
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By Region |
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Key Market Players | ASICS Corporation, The North Face (VF Corporation (VFC), Lululemon athletica inc., Columbia Sportswear Company, Nike, Inc. (Nike), PUMA SE, The Gap, Inc., Under Armour, Inc., Adidas AG (Adidas), PVH Corp. |
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According to the insights of the CXOs of leading companies, the rise in health and wellness trend around the globe, is one of the key factors in driving the demand for global athleisure market.
With the rise in demand for various athleisure products incurring from the target segments, companies have been initiating several key mergers and acquisition in the view of generating revenue from the athleisure segment. For instance, in 2018, JD Sports announced the acquisition of US retailer Finish Line for US$558 million. Finish Line is one the largest retailers of premium multi-branded athletic footwear, apparel, and accessories in the U.S. Apart from merger and acquisition, companies have been also strategizing on expanding the operations to cater to the surging demand for athleisure products. For instance, High-end athleisure company Hylete has agreed to acquire rival Gracedbygrit in an all-stock transaction.
The rise in rate of internet penetration around the major parts of the world makes way for manufacturers to initiate several key online marketing programs as online platforms are one of the easiest ways to create awareness about the specifications and features of the athleisure products among the target customers.
A. The forecast period of Athleisure market report is from 2019 to 2026.
A. The global athleisure market was valued at $ 164 billion in 2019
A. The report covers detailed profiling of key companies operating in the market including Puma, Nike, Under Armour, Adidas, Lululemon Athletic, Asics Corporation, Columbia Sportswear Company, Gap Inc., North Face,and Phillips-Van Heusen Corporation
A. Top companies holding significant market share are Puma, Nike, Under Armour, and Adidas.
A. The Leggings segment of the report is expected to growth at a healthy CAGR during the forecast period
A. Increase in participation of consumers in physical fitness activities and rise in health and wellness trend among the target customers are significant factors that propel the growth of Athleisure market.
A. Athleisure products such as sneaker, joggers, leggings, and hoodies are currently trending in Athleisure market.
A. Sneakers segment of the report hold maximum market share in 2019.
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