LONDON--(BUSINESS WIRE)--Technavio has announced the release of their research report on the global athleisure market for the forecast period 2019-2023. This global athleisure market analysis report segments the market by product (mass athleisure and premium athleisure) and geography (APAC, Europe, MEA, North America, and South America).
Global athleisure market size will grow by USD 122.66 billion at a CAGR of nearly 7%. Polyester fiber is economical and more durable compared to other materials. It absorbs less moisture and dries quickly. Because of this, many athleisure manufacturers are using polyesters and it has become one of the most popular materials used in the industry. For instance, New Balance uses polyester in warm weather wears as well as cold-weather wears. The increased preference toward polyester in athleisure wear is expected to drive the growth of the global athleisure market during the forecast period.
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Increasing adoption of fitness initiatives by corporates
There is a growing popularity of athleisure wear among corporates in countries such as the US and the UK. Many corporate offices are helping their employees to indulge in various fitness activities. This has encouraged employees to wear athleisure wear at work. Also, companies that have incorporated fitness programs in the schedule have reported reduced use of sick leaves. For example, Cisco has a flexible work policy and focuses more on the employee’s physical wellbeing. This increasing focus on fitness among the working population will drive the growth of the global athleisure market during the forecast period
“The North American region is expected to have a healthy growth rate during the forecast period. The rise in celebrity endorsements for athleisure wear is influencing millennials and GenX to adapt to such clothing. The APAC region will grow at a faster rate than the overall market. There is a significant growth in the e-commerce industry in the region, and the presence of adidas, Nike, and other brands will spur the adoption rates. These factors will fuel the market growth”, says an analyst at Technavio.
Many athleisure wear manufacturers are partnering with online retailers such as Myntra and Amazon. Leading vendors such as Under Armor and adidas are increasingly targeting younger population across geographies. These brands are offering athleisure wear at lower prices compared to the products offered by the regional vendors. Similar products are also being offered by Nike across regions. The advancements in strategies among many vendors will increase the growth of global athleisure market.
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This global athleisure market industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several athleisure manufacturers including -
- lululemon athletica
- Nike, Inc.
- PUMA SE
- Under Armour, Inc.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
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