Athleisure Market is Predicted to Reach USD 793.46 billion by 2028 | Grow at a CAGR of 9.9% says, The Insight Partners

The athleisure market is expected to grow from US$ 411.02 billion in 2021 to US$ 793.46 billion by 2028;

NEW YORK, UNITED STATES, November 10, 2022 /EINPresswire.com/ -- According to The Insight Partners latest market study on "Athleisure Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Top Wear, Bottom Wear, Footwear, and Others), Category (Men, Women, Unisex, and Kids), Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Retail, and Others), and Geography,” the market is expected to grow from US$ 411.02 billion in 2021 to US$ 793.46 billion by 2028; it is estimated to grow at a CAGR of 9.9% from 2021 to 2028. The report highlights key factors governing the athleisure market growth, and prominent players and their progress in the market.

Athleisure combines comfort of athletic wear with the fashion quotient of leisure apparel to create a contemporary style of clothing. It is a fabricated style of clothing that is mostly worn during athletic and fitness activities, as well as casual wear at workplaces or at social events.

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The growing number of millennials across the world has propelled the demand for athleisure. Due to the flourishing trend of fitness, millennials are increasingly engaging in fitness and sports activities. Moreover, the increased level of consciousness about their physical appearance has propelled the demand for fashionable and comfortable athletic wear among millennials. Athleisure brands are increasingly focusing on delivering youth-centric sportswear with an emphasis on design and comfort. Along with this, the growing influence of public figures on this demographic group propels the demand for athleisure brands, as celebrities and sportspeople generally feature as ambassadors for these brands.

Based on geography, the market is segmented into five main regions North America, Europe, Asia Pacific (APAC), South & Central America (SCAM), and the Middle East & Africa (MEA). Asia-Pacific is expected to be the fastest-growing region in the athleisure market, followed by North America. The growing millennial population, along with the increasing demand for comfortable and fashionable sportswear, is driving the demand for athleisure in Asia Pacific. Further, the presence of global manufacturers such as Nike, Inc.; Adidas AG; and Puma SE in various countries of Asia Pacific is creating growth opportunities for the athleisure market to expand their presence in this region.

Adidas AG; Asics; Athleta LLC; Authentic Brands Group; Columbia Sportswear Company; Hennes and Mauritz AB; Lululemon Athletica; Nike, Inc.; Puma SE; and Under Armour Inc. are among the key players constituting the majority of athleisure market share.

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In 2020, North America dominated the global market and is expected to retain its dominance during the forecast period. The rise in awareness about adopting healthy lifestyles has encouraged the customers in North America to indulge in fitness/sports activities, which is driving the demand for athleisure in the region. Moreover, the increasing presence of international and domestic brands, and rising disposable income of people, coupled with the desire to adopt improved lifestyles, are bolstering the demand for athleisure in the region.

In recent years, there has been an increase in consciousness regarding health and fitness among consumers across the world. According to a survey from McKinsey and Company, involving six countries Brazil, China, Germany, UK, US, and Japan 79% of the respondents stated that wellness is important and 42% considered wellness as a top priority. This indicates that consumers across different countries are prioritizing their health and fitness, which has led to increased participation in yoga, gyms, and sports activities. The demand for appropriate and trendy clothing and footwear among such health-conscious consumers is increasing, thereby driving the market growth.

During the pandemic, people have started focusing more on consuming sustainable products, which has driven the manufacturers’ attention toward the development of sustainable athleisure products. Thus, the traction toward online yoga and fitness sessions during the COVID-19 pandemic boosted the demand for athleisure from health-conscious consumers. Moreover, increased popularity of e-commerce during this global crisis has supported the athleisure market progress. In January 2021, Marks & Spencer announced the expansion of its Goodmove Activewear ranges to address the burgeoning demand, and target men and kids categories, as online sales of its activewear for women grew 200% from March to September 2020.

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Report Spotlights

•Progressive trends in the athleisure industry to help players develop effective long-term strategies
•Business growth strategies adopted by companies to secure growth in developed and developing markets
•Quantitative analysis of the athleisure market from 2019 to 2028
•PEST analysis to illustrate the efficacy of buyers and suppliers operating in the athleisure industry
•Recent developments to understand the competitive market scenario and the demand for athleisure
•Market trends and outlook coupled with factors governing the growth of the athleisure market
•Understanding regarding the strategies that underpin commercial interest about the athleisure market growth, aiding in the decision-making process
•Athleisure market size at various nodes of market
•Detailed overview and segmentation of the athleisure market as well as its industry dynamics
•Athleisure market size in various regions with promising growth opportunities

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Athleisure Market Size is expected to reach US$ 793.46 Billion by 2028