This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
Athleisure Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
GET A FREE SAMPLE
Report Overview
The global athleisure products market was valued at USD 131.6 billion in 2022 and is projected to expand at a CAGR of 8.2% from 2023 to 2030. The increasing shift from traditional apparel to athleisure products is driving the growth of the market. Consumers are increasingly shifting from conventional apparel to athleisure in order to stay comfortable and look fashionable. In addition, the growing trend of leading a healthy lifestyle and participating in various physical activities is fueling the demand for athleisure products.
Moreover, the increasing popularity of athleisure among millennials and Gen Z is expected to drive the market. Millennials are the most active generation in the history of mankind and they are the largest population in the world. Furthermore, Gen Z is the most health-conscious generation and they are willing to invest in comfort and style. This is why they are opting for athleisure products.
The increasing investment in the athleisure segment by various market participants is supporting the market growth. For instance, in June 2021, Amazon launched its own athleisure brand, Core 10. The collection offers leggings, shorts, sports bras, and hoodies for women and men. Furthermore, the rising demand for sustainable products is also likely to further fuel the demand for athleisure products. Manufacturers are increasingly offering sustainable and eco-friendly products to appeal to the conscious consumer.
The rising demand for digitalization is also driving the market growth. Companies are increasing their presence on various digital platforms to reach out to their target customers. Moreover, the increasing focus on product innovation and the launch of new product lines are further driving the demand for the market. For instance, in August 2021, Adidas launched A-ZX, a collection of 26 shoes, each with a unique design inspired by a different letter of the alphabet.
The increasing focus of key market participants on launching their own private labels is also boosting the market growth. Private labels are gaining traction as they are offering a wide range of products at affordable prices. For instance, in November 2021, Walmart launched Free Assembly, its own athleisure brand. The brand offers sustainable and gender-neutral products. It also focuses on providing high-quality products at affordable prices.
Product Insights
The apparel segment led the athleisure products market, with a share of around 45.4% in 2020. The rise of the athleisure trend has been driven by the increased demand for comfortable and stylish everyday clothing, with consumers now opting for apparel that is suitable for all occasions. According to an article published by the Business of Fashion, in July 2020, athleisure is the most popular style of clothing for Gen Zers and Millennials, with 77% of these consumers owning at least one athleisure item. Moreover, growing consumer demand for eco-friendly athleisure products is also driving the market growth.
The footwear segment is anticipated to expand at the fastest CAGR of 7.2% over the forecast period. The rising popularity of athleisure has led to the growth of the footwear segment, as manufacturers are increasingly launching products that are designed for the purpose of style and comfort. According to an article published by the Statista, in June 2020, the most popular type of athleisure footwear is sneakers, with 74% of consumers owning at least one pair. In addition, the increasing demand for technologically advanced and eco-friendly footwear is also contributing to the market growth.
Distribution Channel Insights
The offline retail segment contributed the largest share of the market in 2022 due to the convenience of shopping and the availability of various options. Customers prefer to purchase athleisure products from offline stores as they can try out the different styles and fit before making a purchase. In addition, offline retail also offers discounts, which encourages customers to purchase from them. The sales of athleisure products in brick-and-mortar stores is also supported by the growth of e-commerce, as customers can compare prices online and then purchase from a physical store.
The online segment is expected to register a CAGR of 10.1% during the forecast period. This is attributed to the rising number of e-commerce stores selling athleisure products and the growing penetration of smartphones and internet. Customers prefer to purchase athleisure products online due to the convenience and discounted prices offered. In addition, e-commerce stores provide detailed product information, which helps customers to make informed buying decisions.
Type Insights
The performance apparel segment accounted for the largest revenue share of 41.3% in the year 2022. This is due to the increasing demand for comfortable and breathable clothes which offer the benefits of both athletic and leisurewear. Performance apparel includes moisture-wicking, quick-drying, and anti-odor fabrics which are incorporated into apparel designs, making them suitable for activities such as running, cycling, and hiking. Furthermore, the rising popularity of fitness activities is driving the demand for performance apparel among consumers.
The lifestyle apparel segment is projected to register the highest CAGR of 8.2% over the forecast period. This is due to the increasing demand for lifestyle apparel among consumers for casual wear. The increasing trend of athleisure, which is a combination of athletic and leisurewear, is driving the demand for lifestyle apparel. The popularity of athleisure is due to the comfort and convenience it offers, as well as its versatility. Furthermore, lifestyle apparel is becoming more fashionable and stylish, making it popular among consumers of all ages.
Regional Insights
The global athleisure products market is expected to be dominated by the Asia Pacific region. Asia Pacific is the largest producer and consumer of athleisure wear products. The region is home to some of the most renowned athleisure brands, such as Nike, Adidas, and Puma, who have made a strong presence in the region. The presence of major players in the region, along with the rising demand for comfortable clothing, is driving the growth of the market in the region. Moreover, increasing disposable income in countries such as India, China, and Japan is expected to further fuel the demand for athleisure products in the region.
North America is expected to witness rapid growth in the coming years, owing to the presence of numerous well-established athleisure brands in the region. The growing popularity of the athleisure trend among teenagers and adults is also driving the growth of the market in the region. In addition, the presence of well-known athletes and influencers promoting athleisure clothing has further contributed to the growth of the market in the region. Moreover, the rising demand for eco-friendly athleisure clothing is also expected to drive the growth of the market in the region.
Financial Projections
In this part of the athleisure products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These projections include cash flow projections and capital requirements for your athleisure products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenue for an athleisure products business is the sale of athleisure products. This includes clothing, footwear, and accessories. Other sources of income may include online sales, wholesale sales, and retail sales.
Projecting Expenses
In this section, all the regular expenses related to keeping the athleisure products business running will be described. The list of operating expenses includes costs related to obtaining materials and labor for manufacturing, marketing costs, advertising expenses, rent for retail store space, and other related costs. Additionally, the business should also consider costs related to taxes, insurance, licensing, and other legal fees.
Key companies & market share insights
Some of the key companies operating in the athleisure products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In May 2022, Nike Inc. launched the Tech Fleece Collection, which comprises of outerwear and footwear products with a modern and stylish look.
– In June 2022, Adidas AG launched the ‘All Day I Dream About Sports’ collection, which includes a variety of athleisure apparel such as tees, jackets and pants.
– In August 2022, Under Armour launched the ‘UAS’ collection, which is designed to provide comfort and style for active lifestyles.
Some of the prominent players in the athleisure products market include:
– Nike Inc.
– Adidas AG
– Puma SE
– Under Armour
– Levi Strauss & Co.
– Gap Inc.
– Lululemon Athletica
– Hanesbrands Inc.
– VF Corporation
– Columbia Sportswear Company
Global Athleisure Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global athleisure products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Tops
– Bottoms
– Footwear
– Accessories
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Casual
– Performance
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation for the Global Athleisure Products Market?
[A]: Product innovation is expected to be a major factor in driving growth for the global athleisure products market. Technological advancements in fabrics and materials used in athleisure products are expected to propel the market over the forecast period. Innovative product designs, such as multi-functional clothing and new color options, are being used by manufacturers to create products that appeal to a wide range of customers.
[Q]: Who are the Key Players in the Global Athleisure Products Market?
[A]: Major players in the global athleisure products market are Nike, Inc., Adidas AG, Puma SE, Under Armour, Inc., Gap, Inc., Lululemon athletica, Inc., Skechers U.S.A., Inc., Calvin Klein, Inc., and American Eagle Outfitters, Inc.
[Q]: Which Region Offers the Largest Opportunity for Sales of Athleisure Products?
[A]: North America is expected to be the largest regional market for athleisure products, with an absolute dollar opportunity of US$ 36.8 Bn.
[Q]: What are the factors driving the global athleisure products market?
[A]: Key factors driving the global athleisure products market include increasing consumer awareness of health and fitness, increasing disposable incomes, and the rise of e-commerce and online retailing. Additionally, a trend of casualization in fashion and the desire for comfort and convenience among consumers is expected to boost market growth.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
