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Sustainable Athleisure Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global sustainable athleisure products market was valued at USD 111.2 billion in 2021 and is projected to expand at a CAGR of 11.7% from 2022 to 2030. The growing awareness of sustainable fashion and increasing demand for organic and eco-friendly products are major factors driving the market. Furthermore, the rising trend of blending comfort and style among consumers is expected to fuel the demand for sustainable athleisure products.
The athleisure trend is gaining popularity among consumers and is driving the demand for sustainable athleisure products. The athleisure trend is characterized by the combination of sportswear and leisurewear. The trend has become popular among consumers as it provides comfort and convenience. Furthermore, the trend is gaining popularity among celebrities, making it more socially acceptable and increasing its demand.
The rising demand for organic and eco-friendly products is driving the market. Consumers are willing to pay a premium for products that are sustainable and eco-friendly. Furthermore, the increasing awareness among consumers has led to the emergence of new trends such as slow fashion, conscious consumption, and ethical fashion. The slow fashion trend is characterized by the use of environmentally friendly materials such as organic cotton, hemp, and bamboo.
In addition, the rising trend of personalization is expected to support the growth of the market. Consumers are increasingly opting for personalized apparel as they want clothing that is unique and customized to their individual needs. Personalized apparel also offers a variety of options to choose from, such as fabrics, colors, designs, and sizes. Furthermore, the increasing preference for online shopping is expected to support the growth of the market. The online platform provides various offers and discounts, which is driving the demand for sustainable athleisure products.
Product Insights
The sustainable apparel segment accounted for a share of around 28.7% in 2022. This can be attributed to the rising awareness among consumers about ethical fashion and the environment. According to the Global Fashion Agenda’s Pulse of the Fashion Industry report, in 2020, 56% of consumers are willing to pay more for sustainable fashion. Furthermore, macro-level factors such as rise in veganism and surge in demand for organic products globally is driving the sustainable apparel segment.
The footwear segment is anticipated to expand at the fastest CAGR of 7.2% over the forecast period. This can be attributed to the increasing demand for sustainable footwear products globally. According to an article published by the Guardian, in August 2020, sustainable footwear is the fastest growing sector in the fashion industry. Moreover, increasing awareness among consumers regarding animal welfare, environmental protection, and ethical fashion is driving the demand for sustainable footwear.
Distribution Channel Insights
The supermarkets and hypermarkets segment is projected to hold the largest market share of more than 40.9% in 2022. The growth of the segment is attributed to the rising number of hypermarkets and supermarkets as well as the increasing number of consumers inclined towards supermarkets & hypermarkets as their primary source of purchasing sustainable athleisure products. The availability of multiple brands and sizes in these stores provide consumers with numerous options to choose from. Furthermore, the presence of skilled personnel assists customers in choosing the most suitable product for their requirement.
The online segment is expected to expand at the highest CAGR of 12.7% over the forecast period. The increasing number of consumers inclined towards digital shopping platforms has prompted companies to launch their own websites and shopping apps. This has resulted in companies having greater visibility among consumers. For instance, in April 2021, Adidas launched its e-commerce platform, which offers sustainable and eco-friendly apparel, footwear, and accessories made from recycled and sustainable materials. In addition, the platform also offers exclusive discounts and promotional offers to attract customers.
Type Insights
The organic segment accounted for the largest revenue share of 70.3% in the year 2022. This is attributed to the increasing awareness among consumers about the harmful effects of synthetic materials on human health and the environment. The growing demand for organic cotton and hemp as these materials are not just sustainable but also are highly breathable, lightweight, and comfortable is driving the segment’s growth. Furthermore, the rising trend of athleisure among consumers has further augmented the demand for organic athleisure products.
The recyclable segment is anticipated to expand at the highest CAGR of 8.2% over the forecast period. Recyclable athleisure products are made from recycled polyester fibers that are manufactured from post-consumer plastic bottles. The increasing demand for eco-friendly products and the growing trend of sportswear among consumers are the key factors driving the growth of the recyclable segment. Additionally, the increasing initiatives by several fashion brands to manufacture recyclable athleisure products is further propelling the segment’s growth.
Regional Insights
Asia Pacific is expected to witness the fastest growth over the upcoming years. This growth can be attributed to the emergence of several startups introducing sustainable athleisure products in the region. For instance, in March 2021, Boody Eco Wear, an Australian athleisure brand, launched sustainable activewear made from organic bamboo. Moreover, increasing awareness regarding environmental protection and the adoption of sustainable products are further expected to drive the growth of the market in the region.
North America accounted for a significant market share in 2021 and is expected to remain the largest regional market in the coming years. This growth can be attributed to the presence of established players manufacturing sustainable athleisure products in the region. For instance, in April 2021, Adidas launched a 100% sustainable sneaker named Parley. Moreover, the presence of prominent e-commerce companies such as Amazon and Walmart is further expected to drive the growth of the market in the region.
Financial Projections
In this part of the sustainable athleisure products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a sustainable athleisure products business comes from sales of athleisure products. Here you will find a list with a description of each of them, such as organic cotton t-shirts, sustainable leggings, recycled footwear, and other sustainable athleisure products. You can also consider other possible sources of profit such as fundraising, the sale of merchandise, and leasing the place for parties and corporate events.
Projecting Expenses
In this section, all the regular expenses related to keeping the sustainable athleisure products business running will be described. The list of operating expenses includes wages, materials, supplies, maintenance and repairs, utilities, insurance policies, advertising and marketing, subscription-based services, and others.
Key companies & market share insights
Some of the key companies operating in the sustainable 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 October 2022, Adidas AG launched the Terrex 2, a new style of shoes made with recycled materials.
– In August 2022, Nike Inc. launched the Air Zoom Gravity, a new style of shoes designed to reduce waste materials.
– In September 2022, Patagonia launched a line of sustainable athleisure products, made with recycled materials and designed to be eco-friendly.
Some of the prominent players in the sustainable athleisure products market include:
– Adidas AG
– Nike Inc.
– Reebok International Limited
– New Balance, Inc.
– Puma SE
– Under Armour Inc.
– ASICS Corporation
– Lululemon Athletica Inc.
– Patagonia
– Outdoor Voices
Global Sustainable 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 sustainable athleisure products market based on product, distribution channel, material, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Apparel
– Footwear
– Accessories
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Material Outlook (Revenue, USD Million, 2017 – 2030)
– Natural Fibers
– Synthetic Fibers
– Recycled Materials
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What Factors Are Driving the Growth of the Sustainable Athleisure Products Market?
[A]: The growing demand for eco-friendly and sustainable apparel, increasing awareness about environmental issues, and changing consumer preferences for eco-friendly apparel are some of the key factors driving the growth of the global sustainable athleisure products market. Moreover, the growing trend of health and fitness among consumers, and their preference for comfortable, stylish, and sustainable apparel are further contributing to the growth of the market.
[Q]: What Are The Key Trends of the Sustainable Athleisure Products Market?
[A]: Key trends of the sustainable athleisure products market include the growing demand for organic cotton, the emergence of online retailing, and the increasing use of biodegradable materials. In addition, the rise in the number of athleisure-focused companies, the increasing focus on product innovation, and the growing popularity of athleisure apparel among millennials are also some of the major trends observed in the market.
[Q]: Who Are The Key Players in the Sustainable Athleisure Products Market?
[A]: Some of the key players in the global sustainable athleisure products market are Gildan Activewear Inc., Nike Inc., H&M, Lululemon Athletica Inc., Adidas AG, and Puma SE.
[Q]: Which Region Offers the Largest Opportunity for Sales of Sustainable Athleisure Products?
[A]: Asia Pacific is expected to be the most lucrative region for sustainable athleisure products, with an absolute dollar opportunity of USD 8.4 B (USD). This is mainly due to the presence of a large population, increasing disposable income, and the growing awareness about sustainable fashion in the region.
[Q]: What Are the Factors Restraining the Growth of the Sustainable Athleisure Products Market?
[A]: Factors such as the higher costs associated with sustainable athleisure products, the difficulty in sourcing raw materials, and the lack of awareness among consumers in developing countries are some of the key factors restraining the growth of the global sustainable athleisure products market.
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
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