The athleisure market is projected to grow from UNITED STATES DOLLAR 326 billion in 2021 to USD 548 billion dollars by 2028. The market is likely to witness a CAGR of 8. 4% during the forecast period (2021 to 2028).
Westford USA, Jan. 18, 2023 (GLOBE NEWSWIRE) — The desire to live an active lifestyle and appear fit, as well as improve health and self-consciousness, inspire people in order to incorporate sports and fitness activities into their daily routines. A significant change in market dynamics brought about by this rising participation has led to increased demand for athleisure products. Athleisure is a popular category because it appeals to several broad trends, such as the global shift toward consumers wearing more casual attire, the desire for comfortable clothing, and the increase in athletic activity among health-conscious consumers who need performance clothing for these activities.
According to SkyQuest’s market analysis, post-pandemic phase, consumers are engaging in more individual outdoor sports (81%), at-home health and fitness (68%), plus virtual races like 5Ks (32%). In recent seasons, there has been an increase in the desire for highly comfy clothing with sports features when engaging in any activity. Wide pockets and elastic knot elements have become crucial products for carrying bulky mobile phones, purses, and other daily necessities. In addition , the particular athleisure market is witnessing traction along with continuously changing fashion trends.
Online Distribution Segment to Register High Growth Rising Influence of Marketing Strategies and Social Media Campaigns
As per SkyQuest, the online distribution segment witnessed the 16. 3% surge in year-to-year growth in 2021, and this particular trend is projected in order to continue within the coming years. The opportunity for online distribution will be appealing as a part associated with business expansion. With a dominant market share, the online distribution channel will likely increase throughout the forecasted period. The segment’s growth can be attributed to consumers buying more apparel through on the internet distribution channels. A further factor boosting need in the athleisure market will be the growth of on-line e-commerce platforms.
The utilization of on the web distribution systems has expanded due to the COVID-19 pandemic. The North American region is anticipated to have a significant business due in order to rising health and physical fitness concerns. Additionally, it is predicted that the presence of industry participants will encourage market expansion inside the healthcare and services sector within the upcoming many years.
The research report on the athleisure market discusses the industry’s present plus future marketplace prospects in light of recent changes, including growth possibilities and drivers, as well as obstacles and restraints from developing and emerging regions. Additionally , the market report provides an in-depth understanding and analysis of the market through carefully selected, verified, plus validated data.
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Male Population to Drive Major Sales with regard to Athleisure owing to Rising Participation within Athletic Activities Requiring Suitable Clothing
The particular male group has the particular highest value share in the gender segment and registered the 9. 7% CAGR in 2021, and it is anticipated to grow exponentially to witness a 13. 2% development rate from 2022 in order to 2028. People prefer to wear clothes that are comfortable for them and flattering on them. Athletic wear product lines plus features meet such needs. Some athleisure clothing has become popular among men, which includes casual pants, bomber jackets, polo shirts, crew-neck sweaters, and others. Athleisure’s particular combination of style and comfort is thus one of the main factors driving the increase in requirement for the product amongst men.
The Asia Pacific is expected to develop significantly as concerns regarding leading healthy lives among people boost. Additionally, the particular region’s athleisure market growth is growing because of increased foreign brand penetration, rising disposable income, and a desire for better lifestyles.
SkyQuest’s research report on the athleisure marketplace provides comprehensive information on market size, revenue growth, and general marketplace dynamics to readers, stakeholders, and businesses so they may increase their market share on a global scale. Along with several market segmentations, including product type, application, plus geographical bifurcation, it also offers in-depth information on essential variables, constraints, limitations, and problems.
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Key Developments in Athleisure Market
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On AJIO Business, Reliance Retail has introduced the athleisure brand Xlerate. Hardik Pandya, an Indian cricket player, has been appointed while the brand name ambassador for the subsidiary associated with Reliance India Limited (RIL). The business claims that Xlerate would meet the requirements of sports activities and fitness fans who seek comfort and design in their training endeavors.
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To promote Nigeria’s athleisure culture, bCODE, a Nigerian design and lifestyle company, has announced the collaboration arrangement with Reebok, a major international sportswear brand. In order to supply its footwear and clothing under the Reebok franchise, bCODE will use its recently created website and first multi-brand store in Surulere, Lagos.
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TMRW, an Aditya Birla Group business venture, announced investing Rs 290 crore in order to buy eight lifestyle brands with a robust digital presence to amass the $1 billion D2C portfolio over the coming years. Women’s western clothes Berrylush, informal clothing Bewakoof, Juneberry, kids’ clothing Nauti Nati, athleisure brand Nobero, and casual and denim clothing Urbano and Veirdo are a few examples.
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With the creation of the brand, VRST, Dick’s Sporting Goods offers entered the fiercely competitive men’s sportswear market. More than 400 Dick’s locations will start carrying the particular brand’s goods in the upcoming weeks. VRST made its debut on both Dick’s website plus a separate website. Traditional clothing companies and department store chains will certainly soon change the focus of their products and marketing in order to casual plus comfortable clothing, bringing a lot more participants in to an already congested business.
Several regional and worldwide firms have started to enter this market within recent yrs as consumer interest in athleisure has grown. Future producers are usually aiming to release items that are multipurpose, durable, and appeal to as many customers as possible. The particular competitive landscape from the athleisure market is usually included in the research report, along with home elevators new service/product launches, collaborations, company expansions, plus acquisitions produced by the companies covered during the previous five years.
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Prominent Players in Athleisure Market
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