Athleisure Market 2023 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030

Athleisure Market Insights:

Athleisure refers to a style of clothing that's designed for athletic and leisure activities which usually combines the functionality of sportswear with the design and luxury of casual wear, making it suitable for a good range of activities, from exercise and sports to casual everyday wear. Athleisure wear typically features stretchy, breathable, and moisture-wicking fabrics like spandex, polyester, and nylon. The design often includes leggings, yoga pants, sports bras, tank tops, and hoodies. Athleisure wear has become increasingly popular in recent years thanks to its versatility, comfort, and trendiness.

The Athleisure market has experienced significant growth in recent years, driven by changing consumer preferences and lifestyles. Increasing health and fitness consciousness, a growing emphasis on comfort and elegance, and an increase in remote work and versatile dress codes have all contributed to the recognition of Athleisure wear. Additionally, celebrity endorsements and influencer marketing have helped to further drive demand for Athleisure brands.

The global Athleisure market size was valued at $217.6 billion in 2022 and is projected to succeed in $674.8 billion by 2030, growing at a CAGR of 15.2% from 2023 to 2030. The market is very fragmented, with numerous small and enormous players competing for market share. a number of the key players within the market include Nike, Lululemon Athletica, Adidas, Under Armour, Puma, Reebok, Fabletics, and Gymshark. Companies that will offer innovative and classy products at competitive prices, demonstrate a commitment to sustainability and ethical practices, have a robust online presence, and leverage celebrity endorsements and influencer marketing are more likely to achieve the market.

Athleisure Market Growth Drivers:

Consumers are increasingly trying to find comfortable, functional, and classy clothing which will be worn for a variety of activities, from exercise and sports to casual everyday wear thanks to the increase of wellness culture and a growing emphasis on health and fitness. As people spend longer reception and interaction in remote work and online activities, there's a growing demand for comfortable and classy clothing which will be worn throughout the day.

The shift towards remote work and versatile dress codes has created a requirement for clothing that will transition from home to figure environments. Athleisure wear offers a flexible and cozy option for people that work from home or have flexible work arrangements.

Athleisure brands that prioritize sustainability and ethical practices, like using eco-friendly materials and ensuring fair labor practices, are likely to appeal to socially conscious consumers regarding the impact of their purchases on the environment and society. Athleisure brands have gained a following through celebrity endorsements and influencer marketing, which have helped to make brand awareness and drive demand for their products driven by social media and its significant role in shaping consumer preferences and buying decisions.

Athleisure Market Segmentation:

1.       Product Type: Leggings Yoga Pants, Sports Bras, Tank Tops, Hoodies& Sweatshirts, Sneakers

2.       Distribution Channel: Online Stores, Offline Stores

3.       Region: North America, Europe, Asia Pacific, Rest of the World (RoW)

Athleisure Market Product Type Segment Review

Leggings and yoga pants are some of the foremost popular Athleisure wear items. They're comfortable, stretchy, and versatile, and may be worn for exercise, casual wear, or even as a part of a dressier outfit. Accounting for over 30.0% of the market share it's expected to grow at a CAGR of over 8.0% from 2023 to 2030. Some of the key players in the leggings and yoga pants market include Lululemon Athletica, Nike, Adidas, Under Armour, Alo Yoga, and Athleta which offer leggings and yoga pants in different materials, lengths, and styles to cater to various consumer needs and preferences.

Sports bras are an important item within the Athleisure market that provide support and luxury during exercise and also are worn as casual tops. Sports bras are available in different styles, including compression, encapsulation, and combination, and are expected to grow at a CAGR of 8.1% during the aforementioned period. In order to provide maximum comfort and performance during physical activities, many sports bras come equipped with features like breathable materials, adjustable straps, and fabrics that wick away moisture. Nike, Lululemon Athletica, Under Armour, Adidas, Victoria's Secret, and Sweaty Betty deal sports bras in various styles, varieties, and backing levels to take care of many buyers.

Tank tops and t-shirts are popular Athleisure wear items for both men and ladies. They're comfortable, and breathable, and may be worn for exercise or as a part of an off-the-cuff outfit. Hoodies and sweatshirts are comfortable and versatile Athleisure wear items. They're great for layering and may be worn for exercise or as a part of an off-the-cuff outfit. It's expected to grow at a CAGR of 6.7% from 2023 to 2030. Some of the key players in the tank tops, t-shirts, and sweatshirts market within the athleisure segment include Nike, Adidas, Lululemon Athletica, Under Armour, Champion, and Reebok.

Sneakers are an important part of the Athleisure market as they supply comfort and support during exercise and may even be worn as casual shoes. Athletic sneakers are specifically designed for running, training, and other physical activities with features such as breathable materials, cushioned soles, and stability technologies to provide support and comfort during high-impact activities such as basketball, soccer, and cross-training. It's expected to grow at a CAGR of 5.1% from 2023 to 2030 with Nike, Adidas, Puma, Reebok, Vans, and Converse being the major market players.

Athleisure Market Distribution Channel Segment Review

The online channel includes e-commerce websites, company websites, and mobile applications which are expected to be the fastest-growing channel for Athleisure products thanks to the increasing penetration of smartphones and the internet. It's expected to grow at a CAGR of 10.6% from 2023 to 2030 with a worldwide market share of around 40% because it offers the advantage of convenience, accessibility, and a wider product assortment. A number of the key players within the online channel include Amazon, ASOS, and Zalando.

The offline channel includes specialty stores, departmental stores, and hypermarkets that provide a touch-and-feel experience to customers and are preferred by those that like better to try clothes before buying. It accounts for the most important market share of around 60% but is expected to grow at a slower rate i.e., CAGR of 5.0% from 2023 to 2030 due to changing consumer preferences and therefore the increasing popularity of e-commerce platforms.

Athleisure Market Regional Synopsis:

North America is the largest marketplace for Athleisure products, accounting for around 40.0% of the worldwide market share. The region is predicted to continue its dominance during the forecast period, with a CAGR of 6.6% from 2023 to 2030. The recognition of Athleisure wear among millennials and increasing health and fitness awareness are a number of the key factors driving the market growth in this region. The USA and Canada are the largest markets dominated by key players such as Nike, Under Armour, Lululemon Athletica, and Adidas.

Europe is the second-largest marketplace for Athleisure products, accounting for around 30.0% of the worldwide market share with countries such as the UK, Germany, France, Italy, and Spain being the key markets. The region is predicted to grow at a CAGR of 6.9% from 2023 to 2030 driven by the increasing adoption of a healthy lifestyle, the growing popularity of sports and fitness activities, and rising disposable incomes. These markets are dominated by local and international players, including Puma, Lululemon Athletica, Nike, Adidas, Under Armour, and Reebok.

Asia Pacific is the fastest-growing marketplace for Athleisure products, with a CAGR of 8.7% from 2023 to 2030 driven by increasing disposable incomes, a growing middle-class population, and rising health and fitness awareness. Countries such as China, Japan, and India are the key markets with major international and domestic players in the region including Nike, Adidas, Under Armour, ASICS, Mizuno, Puma, and HRX.

The Rest of the World market, which incorporates regions like Latin America, the Middle East, and Africa, is predicted to grow at a CAGR of 6.4% from 2023 to 2030. The increasing health and fitness awareness, rising disposable incomes, and growing popularity of sports and fitness activities are the major driving forces behind this growth. 

Athleisure Market Key Challenges:

The Athleisure market is very competitive, with several established players and new entrants vying for market share which may cause price wars reducing profit margins for companies. As consumers become more conscious of environmental issues, they're increasingly demanding eco-friendly and sustainable products. the assembly of synthetic fabrics utilized in Athleisure wear can have negative environmental impacts, and corporations got to find ways to deal with these concerns.

The Athleisure market is additionally suffering from counterfeit products, which may harm the reputation of legitimate brands and reduce consumer trust within the market as an entire where brands got to take steps to guard their property and stop counterfeiting. The Athleisure market is heavily influenced by fashion trends, which may change quickly and corporations got to stay on top of those trends and continually innovate to remain relevant.

The COVID-19 pandemic highlighted the vulnerability of worldwide supply chains. Disruptions within the supply chain can cause delays in product delivery and better costs.

Athleisure Market Key Global Players:

The competitive landscape of the Athleisure market is shaped by several factors, including:

·         Celebrity endorsements and influencer marketing can significantly impact the Athleisure market where brands which will secure endorsements from popular athletes and celebrities, or leverage social media influencers, are more likely to realize exposure and attract customers.

·         Companies with strong brand recognition and reputation are more likely to draw in and retain customers which is particularly important in a market where customers are increasingly brand conscious and constant to specific brands for quality and reliability.

·         E-commerce has become increasingly important within the Athleisure market, with many purchasers preferring to buy online, and makes with a robust online presence and a seamless and user-friendly e-commerce experience are more likely to draw in and retain customers.

·         Price and affordability are critical factors within the Athleisure market. Customers are increasingly trying to find high-quality, fashionable activewear that's affordable. Companies which will offer competitive prices without compromising on quality are more likely to succeed.

Numerous players are vying for market share and investing in new technologies and product development to stay ahead of the curve in the market. Some of the key global players in the Athleisure market include:

·         Adidas

·         Alo Yoga

·         ASICS

·         Athleta

·         Champion

·         Converse

·         Gap Inc.

·         H&M

·         Lululemon Athletica

·         Nike

·         Puma

·         Reebok

·         Sweaty Betty

·         Under Armour

·         Vans

·         VF Corporation

·         Victoria's Secret

These companies have a strong brand presence and offer a wide range of Athleisure products, including activewear, footwear, and accessories. They also invest heavily in research and development to stay on top of the latest fashion and technology trends.

The report on the Athleisure market covers the following aspects:

·         Market Overview: A general overview of the global Athleisure market, including its current size and growth projections for the future.

·         Market Segmentation: A breakdown of the market by product type, distribution channel, and geographic region.

·         Market Dynamics: An analysis of the key drivers, challenges, and trends affecting the growth of the Athleisure market.

·         Competitive Landscape: A comprehensive analysis of the leading players in the Athleisure market, including their market share, product offerings, and key strategies.

·         Regional Analysis: A detailed analysis of the Athleisure market by geographic region, including market size, growth projections, and key trends for each region.

·         Company Profiles: In-depth profiles of key players in the Athleisure market, including their business overview, product offerings, financial performance, and recent developments.

·         Market Forecast: Projections for the future growth of the Athleisure market, including market size, growth rate, and key trends for the next five to ten years.

 

Attributes	Details
Base Year	2022
Trend Period	2018 – 2032
Forecast Period	2023 – 2030
Pages	215
Product Type Segment	Leggings&Yoga Pants, Sports Bras, Tank Tops, Hoodies& Sweatshirts, Sneakers
Distribution Channel Segment	Online Stores, Offline Stores
Company Profiles	Nike, Adidas, Under Armour, Lululemon, Puma, Gap Inc., VF Corporation, H&M, ASICS, Reebok, and Others
Edition	4th edition
Publication	March 2023