Nov 17, 2022, 06:30 ET
SAN FRANCISCO, Nov. 17, 2022 /PRNewswire/ -- The global athleisure market is anticipated to be worth USD 662.56 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at 8.9% CAGR from 2022 to 2030. The term 'Athleisure' is a category of clothing, wherein the product is prepared from materials and offers properties that are generally associated with athletic wear & gym clothing but have been styled as everyday leisurewear. Thus, athleisure clothing offers the wearer general sportswear benefits, in a sleek and stylish look. Consumers across the globe have become more fixated on healthy lifestyle practices that involve various sporting as well as recreational activities, which has fueled the athleisure product demand in recent years.
Key Industry Insights & Findings from the report:
- Athleisure relates to various popular trends, such as a shift towards casual clothing across the globe, increased focus on convenience and comfort in addition to functionality, and the growing population of health-conscious consumers that take part in daily recreational and athletic activities that require appropriate clothing.
- According to True Fit's Fashion Genome, analysis of data from 180 million users and 17,000 brands found that athleisure orders increased by 84% since the start of the COVID-19 pandemic; in the U.K. alone, in December 2020, sales of athleisure bottoms, which include joggers, yoga pants, and leggings, among women were 5 times higher than the numbers seen in April 2020.
- In terms of the type of product, mass athleisure accounted for the largest share of more than 60% in the market in 2021, with athletic-casual clothing having become more popular and accepted in various social scenarios. On the other hand, premium offerings are also expected to witness healthy growth in demand, as luxury brands launch products such as sneakers and leggings that are stylish and comfortable.
- Based on the product, leggings are expected to advance at a healthy CAGR of 8.6% through 2030 in the market. Leggings are used for physical activities such as cycling, running, and Zumba; they can be comfortably worn as casualwear as well as activewear, and are multi-purpose and long-lasting, thus driving their appeal.
- The end-use segment in the athleisure industry comprises mainly men, women, and children; women account for a significant revenue share, aided by the growing women population involved in fitness-related and sports activities. Furthermore, brands are collaborating with leading women athletes to advertise their products, which has helped in driving sales.
- North America is a leading contributor to the athleisure market, with the U.S. having a sizeable presence in the textile and apparel sector. Several major sportswear and active wear brands have extensive presence in this region, and constant advertising has increased consumer awareness regarding athleisure clothing.
- The competition in the market is very high, aided by the presence of many international as well as regional players. Companies focus on the launch of innovative products, as well as partnerships and expansions, to drive growth. For instance, in July 2022, lululemon athletica announced that it would be launching in Spain with a local e-commerce site and two new stores in Madrid and Barcelona.
Read 120-page full market research report for more Insights, "Athleisure Market Size, Share & Trends Analysis Report By Type (Mass, Premium), By Product (Shirts, Yoga Apparel), By End User (Men, Women, Children), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Athleisure Market Growth & Trends
The trend of wearing clothes that are multifunctional and multi-seasonal has become more apparent since the advent of the COVID-19 pandemic, as working professionals preferred comfortable clothing while working from home. Additionally, this practice is expected to sustain in the coming years, as major businesses move towards a hybrid business model. Furthermore, athleisure products are being promoted and endorsed by leading sports personalities such as Serena Williams (Tennis) and Ronaldo (soccer). The use of online promotions through articles and social media activities has resulted in positive returns for various sportswear brands, which is a major factor driving sales in the athleisure industry. Businesses have become more sensitive to customer demands and requirements, offering professional advice on choosing products, which has increased the buying appeal. Furthermore, the trend of sustainability has also proliferated in the athleisure space, as brands increase their focus on using high-quality and sustainable clothing materials.
As the popularity of athleisure among consumers has increased, a steadily growing number of regional and international players have begun entering this space in recent years. Up-and-coming manufacturers are making it their aim to launch products that are multifunctional, long-lasting, and cater to as large a consumer base as possible. As per GQ, in the past 5-6 years, the market has seen the arrival of around a dozen new companies, with similar origin stories; some of these names include Iffley Road and Ashmei from Britain, DOXA Run from Denmark, and Tracksmith and Isaora from America. The trend of utility fashion has become very apparent, which is driving the demand for utility-active apparel; as a result, products featuring elastic knots and wide pockets have become easily available, as they address the need of wearers to carry their purses and smartphones, among other essentials.
Athleisure Market Segmentation
Grand View Research has segmented the global athleisure market based on type, product, end user, distribution channel, and region:
Athleisure Market - Type Outlook (Revenue, USD Million, 2017 - 2030)
Athleisure Market - Product Outlook (Revenue, USD Million, 2017 - 2030)
- Yoga Apparels (Tops, Pants, Shorts, Unitards, Capris, Others)
Athleisure Market - End-user Outlook (Revenue, USD Million, 2017 - 2030)
Athleisure Market - Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
Athleisure Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
List of Key Players in the Athleisure Market
- Hanes Brands, Inc.
- Adidas AG
- Under Armour, Inc.
- EILEEN FISHER
- Patagonia, Inc.
- Wear Pact, LLC
- Lululemon Athletica
Check out more related studies published by Grand View Research:
- Sustainable Athleisure Market - The global sustainable athleisure market size is anticipated to reach USD 117.4 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.0% from 2020 to 2027. The market is driven by the growing popularity of sustainable clothing and active wear made using environmentally safe practices among the millennial population across the world.
- Cycling Wear Market - The global cycling wear market size is expected to reach USD 7.88 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.6% from 2020 to 2027. Cycling wear has been gaining increasing traction among the consumers on account of rise in awareness related to health and fitness worldwide. This is expected to boost the demand for the bicycle and subsequently drive the cycle wear demand over the forecast period.
- Athletic Footwear Market - The global athletic footwear market size is expected to reach USD 196.1 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.9% from 2022 to 2030. Athletic shoes have also been tailored for the casual market, and are popular, especially with young people. Athletic footwear is built for high performance and is considered a part of an athlete's gear along with clothing and equipment. Athletic shoes provide sports-specific levels of cushioning, flexibility, stability, traction, and durability. Cushioning minimizes the force of impact.
Browse through Grand View Research's Clothing, Footwear & Accessories Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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