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With sports and fitness assuming the structure of a massive trend, the athleisure market is poised for long term sustained growth. As per a report launched by Market Research Future (MRFR), the global athleisure market is headed for a respectable growth rate over the forecast period (2018-2023). The prevalence of fitness culture on a global scale has given rise to athleisure fashion. Athleisure can be defined as the fusion of sportswear and fashion.
Athleisure market has gained huge momentum among consumers due to which numerous fashion and luxe retailers are eyeing upon capturing a share of the global Athleisure Market Value. Changing fashion trends are likely the primary driver of the market. This can be attributed to the use of outerwear which can be worn in public places, offices, malls, and so on. Advertisements as well as endorsements by athletes and celebrities can lead to high demand of the market in the coming years. The influence of social media can positively impact market growth.
Innovations in textiles and growing expendable income levels of consumers are factors predicted to trigger market demand. This is supplemented by health-conscious consumers preferring comfortable apparel. Considerable investments in research and development (R&D) by apparel makers for enhancing the strength and durability of these textiles can augur well for the market. The use of online channels for selling aging merchandise can be a plus for the athleisure market.
Segmentation
The global athleisure market has been segmented based on apparel type, end-use, and distribution channel.
By apparel type, the athleisure market has been segmented into sneakers, yoga pants, shorts, sports bras, leggings, tights & joggers, sports jackets, and others.
By end-use, the athleisure market has been segmented into men and women.
By distribution channel, the athleisure market has been segmented into store-based and non-store-based.
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Regional Analysis
Region-wise, the athleisure market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America is the largest athleisure market. The existence of various market players in the region coupled with the influx of various new brands in the region has provided lucrative opportunities for the growth of the market. Additionally, growing disposable income and celebrity endorsements in the region has spurred the demand for high-end sports apparels which is driving the growth of the market. Moreover, presence of expertise in fabric techniques and presence of affluent consumers are other motivating factors
Europe to is a significant athleisure market and is expected to exhibit rapid growth over the forecast period. Heightened awareness regarding sports and fitness in the region has helped the market expand. Innovation in sportswear is generating more demand from the wealthy consumer base present in the region.
The APAC athleisure market is anticipated to be the fastest-growing market over the forecast period. Increasing disposable income and escalated demand from millennial population in the region has favored the growth of the market. Rise in awareness about sports and fitness coupled with the availability of athleisure apparels and products in affordable price has further resulted in high sales of athleisure which has boosted the growth of the market.
Celebrity endorsements and rise in awareness through social media has driven the MEA athleisure market significantly.
Competitive Landscape
Human Performance Engineering (UK), Under Armour, Inc. (US), Adidas AG (Germany), Outdoorvoices (US), Isaora (US), Ten Thousand, Inc. (US), Nike, Inc. (US), Lululemon athletica (Canada), H&M (Switzerland), and Eysom (US) are the key players in the global athleisure market.
Industry Updates
July 2019 - A new athleisure line, Pompom, has been launched by Lola Rykiel. The collection is set to hit the retail stores in November and contains biker shorts, bold pops of pink, and pieces that is something different from normal athleisure products which are minimal in design.
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July 2019 - A unisex athleisure fashion brand has been launched by a famous celebrity, 2HR SET. The collection includes hats, sweatpants, hoodies, kids, bombers, shoes, and tees.
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