LONDON--(BUSINESS WIRE)--The activewear apparel market size is poised to grow at a CAGR of almost 11% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The increasing emphasis on extracurricular activities and competitive sports programs is encouraging millennials to participate in athletics. North America and Europe are the regions witnessing the highest participation rates in athletics. In recent years, the participation of women in sports has been increasing at a rapid pace, especially in developing countries such as China and India. Also, a rising number of sports events and tournaments is encouraging increased participation. These factors are stimulating the demand for activewear apparel leading to the growth of the market.
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As per Technavio, the increasing popularity of athleisure will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Activewear Apparel Market: Increasing Popularity of Athleisure
Athleisure is one of the emerging trends in the fashion industry. Athleisure mainly refers to the clothes designed for athletic activities that can also be worn to workplaces or other casual locations. The preference for athleisure apparel has been gaining momentum, especially among millennials in regions such as North America and Europe. This has led vendors operating in the market to make significant improvements in the design and quality of athleisure outfits, making the apparel more breathable, lightweight, and waterproof. Thus, the increasing popularity of athleisure will drive the growth of the activewear apparel market during the forecast period.
“Factors such as the increasing customization and rising demand for licensed sports merchandise will have a positive impact on the growth of the activewear apparel market value during the forecast period,” says a senior analyst at Technavio.
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Activewear Apparel Market: Segmentation Analysis
This market research report segments the activewear apparel market by distribution channel (online and offline) and geographical regions (North America, APAC, Europe, South America, and MEA).
The North American region led the market in 2019, followed by Europe, APAC, South America, and MEA, respectively. During the forecast period, North America is expected to maintain its lead and register the highest incremental growth due to several factors such as the growing preference of consumers toward a fit and healthy lifestyle, and the presence of several vendors that offer activewear apparel and carry out extensive promotional activities.
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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
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