What is the Size of Global Athleisure Industry?
Global Athleisure market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
Global Athleisure market is largely driven by an increase in consumer fitness and health consciousness, which is feeling the desire for stylish and comfortable clothing.
Increased interest in health and fitness as well as the rising passion of the young generation towards sports activities are driving the athleisure market.
Threats from counterfeit goods and the high cost of athleisure products limit the market growth. The COVID-19 pandemic forced the closure of manufacturing facilities and halted the distribution and production sides of the Athleisure Market.
Due to the imposed lockdown, the logistics and transportation sector also stalled market growth. Access to athleisure products has been restricted by the closure of supermarkets, hypermarkets, specialty shops, and other distribution facilities.
People all across the globe participate in fitness activities including different sports and outdoor exercises. Yoga is also becoming increasingly popular as a means of improving both physical and mental health. As a result, active engagement in fitness activities increases demand for athleisure products as they meet consumers’ needs for comfort and style.
The relaxation of lockdown limitations caused the transportation and trade industry to rebound in the second half of 2020, which fueled the growth of the athleisure market.
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Global Athleisure Market by Type
The Global Athleisure market is segmented by Type into Clothing, Footwear, Others.
The clothing type segment held the largest market share in the Global Athleisure Market in 2021.
Athletic-casual attire is increasingly accepted in a variety of social contexts. Many of the clothes that are now deemed appropriate for the workplace are made from sports-inspired materials like spandex, lycra, and other synthetic fibers.
Additionally, athleisure is now more widely recognized in the workplace. Many workers believe that wearing casual t-shirts and athletic sneakers to work is acceptable. One of the main elements boosting the demand for the clothing segment in the worldwide market is the comfort of athleisure wear.
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Global Athleisure market by End-User
The Global Athleisure market is segmented by End-User into Men, Women and Children.
The women end user segment held the largest share of the Global Athleisure Market in 2021.
Sports and fitness participation among women is anticipated to propel market growth. It is also anticipated that a rising number of women joining sports groups to stimulate the Athleisure Market expansion. Apart from that, customers are significantly influenced by celebrity endorsements, marketing, and events put on by well-known people which is in turn positively impacting the market growth.
The Sasakawa Sports Foundation (SSF) estimates that 72.4% of all Japanese people participate in sports at least once a year. Furthermore, nearly 70% of all women in the nation participate in sports at least once a year. This element is increasing the nation’s demand for athleisure and sportswear.
Global Athleisure market by Geography
The Global Athleisure market is segmented by Geography into North America, Europe, Asia- pacific and LAMEA.
Asia Pacific accounted for the largest market share in 2021 within the total Global Athleisure Market.
During the projection period, it is predicted that the rising middle class is expected to increase health consciousness and the burgeoning sporting cultures of nations like China, India, Australia, and Japan will drive athleisure product demand. For instance, the Tokyo Olympics 2020 and Paralympic Games, which had a significant impact on the growth of the athleisure market by ensuring the wide availability of products to suit varying requirements and levels of professional use, contributed significantly to the increase in Japanese enthusiasm for sports between 2019 and 2020.
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