PUBLISHER: Allied Market Research | PRODUCT CODE: 1365743
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365743
According to a new report published by Allied Market Research, titled, "Athleisure Market," The athleisure market was valued at $2 billion in 2022, and is estimated to reach $3.2 billion by 2032, growing at a CAGR of 5.2% from 2023 to 2032.
Due to increased consumer knowledge of the advantages of engaging in such programs or activities, people have been actively engaging in a variety of physical activities. This has increased demand for a range of health-related goods, whether they be food and drink, clothing, or footwear. Active wear and sports clothing makers have been strategizing on developing products that combine with the attractive garment design, which ultimately meets the needs of target clients, taking this consumer trend into mind. Customers so find these athleisure clothes comfy.
Athleisure apparel's texture, design, appearance, and other fashion elements require the systematic processing and designing of raw materials. Athleisure items require the right designing and combining of numerous fabrics, including polyester, nylon, polypropylene, spandex, neoprene, and others. Similar to this, changes in the commodities market, the impact of natural disasters on the suppliers of raw materials, shifts in the state of the world's economies, and other variables are some of the major influences on the price of raw materials. Due to the high price of these goods, there are little sales. As a result, this product's high raw material prices hinder the expansion of the market as a whole.
Premiumization is the process through which producers highlight a product's better quality and exclusivity in order to increase customer attractiveness. It is motivated by a taste for premium goods and a desire to show achievement. Due to the increase in per capita wealth, consumers want high-quality goods. Due to their high price, top quality athleisure clothing and footwear are featured under premium items. Customers express greater levels of comfort satisfaction while using these types of items. Customers who can afford the more expensive product range are drawn to such qualities. In turn, this accelerates market expansion.
The athleisure market is divided by gender, product type, distribution channel, and region. By gender, the market is divided into male and female. By product type, the market is divided into sneaker, joggers, leggings, hoodies, and others. According to the distribution channel, the market is divided into offline and online. By region, the market is divided into North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, United Arab Emirates, South Africa, and the Rest of LAMEA).
Some of the Major players analyzed in this report are: Adidas AG, ASICS Corporation, Columbia Sportswear Company, PVH Corp., Puma SE, VF Corporation, The Gap, Inc., Nike, Inc., Under Armour, Inc., and Lululemon Athletica Inc.
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