PUBLISHER: Allied Market Research | PRODUCT CODE: 1344475
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344475
According to a new report published by Allied Market Research, titled, "Activewear Market," The activewear market was valued at $425.5 billion in 2022, and is estimated to reach $771.8 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032.
Activewear is apparel, footwear, and accessories meant for sports and physical activities such as sprinting, yoga, bicycle riding, and other sports. Activewear comprises lightweight, breathable fabrics that allow for freedom of movement and comfort when exercising. With characteristics such as moisture-wicking, temperature management, and compression, these clothing are particularly intended to give utility and performance. Sports bras, leggings, shorts, tank tops, t-shirts, and jackets are examples of activewear apparel. In recent years, the sportswear industry has grown significantly, with an emphasis on efficiency, environmental responsibility, and aesthetics.
Extensive advantages offered by activewear such as water resistance, bi-stretchable function, anti-bacterial fabric, and wicking function and surge in participation of consumers in physical and fitness activities act as key demand driving factors of the global market. Moreover, the female consumer base for activewear is increasing, owing to the holistic approach of female customers toward sports and fitness. Thus, increase in the adoption of athleisure wear as work or streetwear propels the growth of the overall market. Furthermore, rise in disposable income and increase in fitness concerns significantly contribute to the growth of the market. However, the volatile cost of raw materials and inflated cost of designing lead to the high cost of the final product. This hampers the sales of the product among price-sensitive customers, thereby restraining market growth. Moreover, the presence of counterfeit brands results in safety issues and inconvenience for consumers hampering the growth of the market. Conversely, increase in the use of green textiles and implementation of sustainable production methods fuel the adoption of activewear among green consumers. Furthermore, rise in promotional activities such as physical activity campaigns, empowerment programs, and activewear promotion by sponsoring celebrities or athletes are expected to provide lucrative opportunities for the key players.
The global activewear market is segmented into product type, fabric, gender, distribution channel, and region. By product type, the market is classified into ready-to-wear, fashion outer, pants, & t-shirts; rash guard, wet suit, & swim wear; sports shoes, aqua shoes, & aqua socks; and fashion brand. On the basis of the fabric, it is categorized into polyester, nylon, neoprene, polypropylene, spandex, cotton, and others. By gender, the market is classified into men, women, and kids. Depending on the distribution channel, it is bifurcated into offline and online. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Players operating in the global activewear market have adopted various developmental strategies to expand their activewear share, increase profitability, and remain competitive in the market. Key players profiled in this report include Dick's Sporting Goods, INC., V.F. Corporation, Columbia Sporting Company, LULULEMON ATHLETICA INC., Puma SE, NIKE, INC., Adidas AG, Under Armour, Inc., Skechers U.S.A., INC., ASICS Corporation, PVH CORP., and The GAP, INC.